Ticker Options Intelligence

ASAN options intelligence

Asana Inc options pressure, expected move, strike concentration, and Sharemaestro trend context.

Conviction 38 Market data through 12 Aug 2026 Checked 13 Aug 2026 13:04 · complete available chain

Options-market disagreement

Mixed pressure

ASAN currently carries mixed options pressure with a 38/100 conviction score. The nearest-chain expected move is 10.3%, with volume/open-interest participation at 0.05.

Options Intelligence Opportunities Bullish confirmation Risks Unusual flow Vol expansion Repeated pressure Compare Chart Weekly report
Primary read Mixed

Options-market disagreement

Expected move 10.3%

Wider near-term move priced

Activity / OI 0.05

Current volume is quieter versus prior open interest

Put-call 1.18

Balanced tape

Trend fit 71

Options agree with trend context

Weekly backdrop +11.3%

RS -19.4

Expected move 10.3%
Put-call volume 1.18
Volume / OI 0.05
Reference IV 1.07
Max pain 7.50
Underlying 9.26
Nearest expiry 21 Aug 2026
Contracts 138

Research Brief

ASAN has a mixed chain read with 38/100 evidence alignment.

The practical question is whether the underlying confirms the options concentration. The chain prices a reference range of 8.31–10.21; The largest call open-interest concentration is 7.50; the largest put concentration is 7.50. The most active strike by current volume is 10.00.

Priced range8.31–10.21
Call concentration7.50
Put concentration7.50
Max pain reference7.50
What would confirm it
  • A clear directional pressure reading develops and price begins to agree.
  • The current chain read already agrees with the stored weekly trend context.
  • Participation is above the ticker's stored normal, which makes the read more noteworthy.
What would weaken it
  • Volatility falls and the chain remains directionally mixed.
  • Front-expiry volatility is rich, so the signal may be event-driven and vulnerable to volatility compression.

Priced Move

Where the chain says movement becomes exceptional

Size, not direction · through 21 Aug

Options imply 8.31 to 10.21. Max pain at 7.50 lies outside the priced range, so it is a weak near-term anchor.

Spot Max pain
8.319.26 ± 0.9510.21
Confirmation level

A close beyond 10.21 or below 8.31 at the 21 Aug expiry would exceed the move currently priced by this chain.

Important limitation

The range is a pricing reference, not a forecast; volatility can reprice sharply after news or as expiry approaches.

Score Construction

Why conviction is 38/100

Evidence alignment, not probability

Pressure is 2/100 toward puts; conviction uses its strength, while the signal label carries its direction.

Directional pressure2 × 42%
+0.9

How strongly activity leans toward calls or puts.

Participation41 × 22%
+9.1

Volume relative to existing open interest and contract-level activity.

Trend agreement71 × 26%
+18.4

How closely the chain read agrees with the underlying trend backdrop.

Volatility96 × 10%
+9.6

The intensity of implied volatility and the priced move.

Reconstructed score38.0Matches stored calculation

Positioning by Strike

Where open interest and current activity concentrate

Full strike map

The largest call open-interest concentration is 7.50; the largest put concentration is 7.50. The most active strike by current volume is 10.00. Open-interest concentrations show where positions exist; they are not proven support, resistance or dealer exposure.

Put open interestStrikeCall open interest
0
2.50-73.0%
29
1111
5.00-46.0%
206
2229
7.50-19.0%
4724
1773
10.008.0%
4121
7
12.5035.0%
969
1
15.0062.0%
348
0
17.5089.0%
91
1
20.00116.0%
294
0
22.50143.0%
107
0
25.00170.0%
10
Nearest spot strike Max pain strikeBars show relative OI within this expiry

Gamma Profile by Strike

Positive gamma proxy

Reported + model-estimated Greeks · 91% coverage

Call-side gamma sensitivity outweighs the put-side proxy across the retained chain. The largest bars mark levels where delta-hedging sensitivity may be most concentrated.

Net profile+$245,202Delta change / 1% move
Positive peak10.00+$178,234
Negative peak5.00-$10,676
Nearest balance5.76Interpolated sign change
StrikeNegativePositiveNet / 1% move
2.50-73.0%
-$67
5.00-46.0%
-$10,676
7.50-19.0%
+$24,229
10.008.0%
+$178,234
12.5035.0%
+$11,351
15.0062.0%
+$19,201
17.5089.0%
+$5,057
20.00116.0%
+$8,536
22.50143.0%
+$1,499
25.00170.0%
+$2,161
30.00224.0%
+$4,442
35.00278.0%
+$91
40.00332.0%
+$1,141
Positive call-side proxy Negative put-side proxyHighlighted row is nearest spot strike

Scenario proxy = gamma × open interest × 100 shares × spot² × 1%. Calls are positive and puts negative by convention. Missing Greeks use a Black-Scholes estimate from stored IV with zero rate and dividend assumptions. Open interest does not reveal who is long or short, so this is not observed dealer positioning or a forecast.

Volatility Curve

Front-loaded volatility

1.52× front/back

Near-term options are materially richer than later expirations, consistent with concentrated event or immediate-risk pricing.

1.07 21 Aug 9d
0.90 18 Sep 37d
0.89 20 Nov 100d
0.77 18 Dec 128d
0.78 15 Jan 156d
0.59 19 Feb 191d
0.71 21 Jan 527d

Volatility by Strike

Upside optionality premium

Nearest expiry, within 20% of spot

Out-of-the-money calls carry higher implied volatility than comparable puts, indicating richer upside optionality.

8
10
Put IV Call IV

Historical Replay

How matured reads behaved through expiry

0 matured · 0 directional

Forward validation is building. The earliest eligible stored read expires 21 Aug 2026; its result will appear after the matched closing reference is stored.

Directional follow-through-
Moves contained by pricing-
Average expiry move-
Validation readiness
  • Auditable calculationoriginal version retained
  • Independent entryone read per market session
  • Point-in-time referencerequired at entry
  • Matched expiry closereported only after maturity

Eligible snapshots must have a dated market session, stored signal, and point-in-time market reference. Each observation uses one read per market session and the first stored weekly close on or immediately after expiry; its original calculation version is retained. It is an evidence audit, not an executable strategy or evidence of future performance.

Evidence Quality

Usable with limits

C69/100
Retained chain100%
Implied volatility100%
Two-sided quotes100%
Open interest100%
Chain status
Complete available chain
Market date
12 Aug 2026
Calculation
v2.0
Contracts
138 / 138
  • No material coverage gap was detected in the retained chain.

Aggregate chain data supports concentration, participation and pricing analysis. It does not identify trade aggressor, opening versus closing activity, multi-leg intent or dealer inventory.

Options Intent Radar

Earnings/event positioning

83/100
Primary intent Earnings/event positioning

Options activity is concentrated around a live event window, so the cleanest read is event positioning rather than pure direction.

Flow vs price divergence No clean flow/price divergence

The options read is mixed, so divergence is not strong enough to classify.

Why this matters

Earnings/event positioning matters because it connects the options headline to the actual evidence: $434,960 of estimated gross traded notional, puts · 91+ days · itm, and a no clean flow/price divergence backdrop. Use it as a research priority signal, then validate the chart, liquidity, event calendar, and risk before acting.

Options pressure-2
1W price+11.3%
Call premium25%
Put premium75%
Notional split C 25% / P 75% Estimated gross traded notional uses volume × contract multiplier × midpoint, or last price when no valid midpoint is available.
Freshness 0.05 Volume divided by open interest across the visible chain.
Trend fit 71/100 Agreement between options pressure and Sharemaestro market context.
Event window 3 Sep Matched earnings event is 20 days away.
Aggregate chain data does not identify trade aggressor or opening versus closing activity; call/put concentration is not proof of market direction.
Conviction clusters Puts · 91+ days · ITM
Puts · 91+ days · ITM puts cluster with 1350 contracts traded, $277,080 estimated gross traded notional, and 64% of visible notional.
$277,080
Calls · 22-45 days · OTM calls cluster with 1015 contracts traded, $72,832 estimated gross traded notional, and 17% of visible notional.
$72,832
Puts · 91+ days · OTM puts cluster with 433 contracts traded, $33,012 estimated gross traded notional, and 8% of visible notional.
$33,012
Calls · 91+ days · OTM calls cluster with 206 contracts traded, $16,565 estimated gross traded notional, and 4% of visible notional.
$16,565
Calls · 8-21 days · ITM calls cluster with 86 contracts traded, $14,888 estimated gross traded notional, and 3% of visible notional.
$14,888

Setup Classification

Opportunity and risk frame

Context, not advice
Positive Options-confirmed trend

Positioning agrees with the Sharemaestro trend backdrop.

Warning Volatility expansion

The tape is pricing or displaying unusually elevated activity.

Warning Event-risk setup

Expected move or upcoming earnings makes the setup more event-sensitive.

Activity Anomaly

Above normal

67

Activity is running above the recent historical baseline.

Baseline: 10 completed sessions

Volume rank70th
Volume/OI rank70th
IV rank60th

Market Context

Underlying confirmation

Sharemaestro weekly
Close9.26
1W+11.3%
RS-19.4
Fair value-35.7%
Options pressure-2
Speculation41
Volatility96
Trend fit71

Today Versus Normal

Stored-options context

View history
Expected move 10.3% muted
30d avg 19.0% · 10 sessions 0th
90d avg - · 10/30 sessions -
180d avg - · 10/60 sessions -
IV 1.07 near normal
30d avg 1.06 · 10 sessions 60th
90d avg - · 10/30 sessions -
180d avg - · 10/60 sessions -
Put-call 1.18 elevated
30d avg 0.29 · 10 sessions 100th
90d avg - · 10/30 sessions -
180d avg - · 10/60 sessions -
Volume/OI 0.05 near normal
30d avg 0.04 · 10 sessions 70th
90d avg - · 10/30 sessions -
180d avg - · 10/60 sessions -

Pressure Trail

Recent pressure and volatility

Open trail
29 Jul 11:06 Volatility
Pressure 92
Move 23.3%
30 Jul 10:54 Bullish
Pressure 60
Move 24.1%
31 Jul 10:35 Volatility
Pressure 85
Move 19.7%
3 Aug 13:12 Bullish
Pressure 55
Move 18.0%
3 Aug 16:58 Mixed
Pressure 4
Move 19.5%
4 Aug 20:22 Mixed
Pressure 13
Move 19.2%
5 Aug 04:41 Bullish
Pressure 60
Move 19.2%
5 Aug 20:54 Bullish
Pressure 25
Move 19.8%

Strike Map

Where activity is clustering

Full strike map
Strike2.50
Calls · V 1 · OI 29
Puts · V 0 · OI 0
Strike5.00
Calls · V 0 · OI 206
Puts · V 0 · OI 1111
Strike7.50
Calls · V 85 · OI 4724
Puts · V 1 · OI 2229
Strike10.00
Calls · V 316 · OI 4121
Puts · V 5 · OI 1773
Strike12.50
Calls · V 0 · OI 969
Puts · V 0 · OI 7
Strike15.00
Calls · V 0 · OI 348
Puts · V 2 · OI 1
Strike17.50
Calls · V 0 · OI 91
Puts · V 0 · OI 0
Strike20.00
Calls · V 0 · OI 294
Puts · V 4 · OI 1

Term Structure

Expiration activity

Volume and IV
Expiry21 Aug 2026
Contracts20
Avg IV1.07
Put-call0.03
Expiry18 Sep 2026
Contracts22
Avg IV0.90
Put-call0.12
Expiry20 Nov 2026
Contracts14
Avg IV0.89
Put-call-
Expiry18 Dec 2026
Contracts22
Avg IV0.77
Put-call0.96
Expiry15 Jan 2027
Contracts26
Avg IV0.78
Put-call0.09

Skew

Call/put IV balance

OTM demand
21 Aug 2026Call IV premium
Call IV0.77
Put IV0.63
Skew-0.14
18 Sep 2026Balanced skew
Call IV0.98
Put IV0.96
Skew-0.02
20 Nov 2026Call IV premium
Call IV1.22
Put IV0.82
Skew-0.40
18 Dec 2026Balanced skew
Call IV0.89
Put IV0.86
Skew-0.03
15 Jan 2027Balanced skew
Call IV0.87
Put IV0.83
Skew-0.04

Contract Tape

Most active contracts

Full contract tape
ContractASAN261120P00010000
SidePut
Expiry20 Nov 2026
Strike10.00
Volume1339
OI108
IV0.80
ContractASAN260918C00010000
SideCall
Expiry18 Sep 2026
Strike10.00
Volume908
OI7391
IV1.00
ContractASAN261120P00007500
SidePut
Expiry20 Nov 2026
Strike7.50
Volume380
OI1206
IV0.82
ContractASAN260821C00010000
SideCall
Expiry21 Aug 2026
Strike10.00
Volume316
OI4121
IV0.77
ContractASAN260918C00012500
SideCall
Expiry18 Sep 2026
Strike12.50
Volume90
OI1218
IV0.98
ContractASAN260821C00007500
SideCall
Expiry21 Aug 2026
Strike7.50
Volume85
OI4724
IV1.34
ContractASAN260918P00007500
SidePut
Expiry18 Sep 2026
Strike7.50
Volume65
OI1745
IV0.96
ContractASAN270115C00025000
SideCall
Expiry15 Jan 2027
Strike25.00
Volume62
OI734
IV0.86

Evidence context