Primary read
Bullish
Call-side pressure
Ticker Options Intelligence
SPIR options intelligence
Spire Global Inc options pressure, expected move, strike concentration, and Sharemaestro trend context.
Conviction
35
Market data through 11 Aug 2026
Checked 11 Aug 2026 17:36 · complete available chain
Call-side pressure
Bullish pressure
SPIR currently carries bullish options pressure with a 35/100 conviction score. The nearest-chain expected move is 16.4%, with volume/open-interest participation at 0.08.
Expected move
16.4%
Wider near-term move priced
Activity / OI
0.08
Current volume is quieter versus prior open interest
Put-call
0.73
Call-side skew
Trend fit
46
Options are not fully confirming trend
Weekly backdrop
+25.0%
RS 1.7
Expected move
16.4%
Put-call volume
0.73
Volume / OI
0.08
Reference IV
1.23
Max pain
13.00
Underlying
14.33
Nearest expiry
21 Aug 2026
Contracts
258
Research Brief
SPIR has a bullish chain read with 35/100 evidence alignment.
The practical question is whether the underlying confirms the options concentration. The chain prices a reference range of 11.98–16.68; The largest call open-interest concentration is 16.00; the largest put concentration is 7.00. The most active strike by current volume is 19.00.
Priced range11.98–16.68
Call concentration16.00
Put concentration7.00
Max pain reference13.00
- Price holds or improves while call-side concentration remains elevated.
- Participation is above the ticker's stored normal, which makes the read more noteworthy.
- Price weakens while call pressure fades or reverses toward puts.
- Options and the weekly trend are not yet giving the same message.
- 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
Options imply 11.98 to 16.68. Max pain at 13.00 sits inside that range, 9.3% below spot.
Spot
Max pain
11.9814.33 ± 2.3516.68
Confirmation level
A close beyond 16.68 or below 11.98 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 35/100
Pressure is 20/100 toward calls; conviction uses its strength, while the signal label carries its direction.
Directional pressure20 × 42%
+8.2
How strongly activity leans toward calls or puts.
Participation25 × 22%
+5.5
Volume relative to existing open interest and contract-level activity.
Trend agreement46 × 26%
+11.9
How closely the chain read agrees with the underlying trend backdrop.
Volatility96 × 10%
+9.6
The intensity of implied volatility and the priced move.
Positioning by Strike
Where open interest and current activity concentrate
The largest call open-interest concentration is 16.00; the largest put concentration is 7.00. The most active strike by current volume is 19.00. Open-interest concentrations show where positions exist; they are not proven support, resistance or dealer exposure.
Put open interestStrikeCall open interest
1106
6.00-58.1%
14
1134
7.00-51.2%
102
215
8.00-44.2%
92
466
9.00-37.2%
21
330
10.00-30.2%
225
92
12.00-16.3%
240
497
13.00-9.3%
167
96
14.00-2.3%
245
114
15.004.7%
555
32
16.0011.7%
874
38
17.0018.6%
323
175
19.0032.6%
195
26
20.0039.6%
502
69
23.0060.5%
238
0
27.0088.4%
731
10
30.00109.4%
419
0
35.00144.2%
327
Nearest spot strike Max pain strikeBars show relative OI within this expiry
Gamma Profile by Strike
Positive gamma proxy
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+$84,962Delta change / 1% move
Positive peak16.00+$22,949
Negative peak12.00-$15,982
Nearest balance13.70Interpolated sign change
StrikeNegativePositiveNet / 1% move
4.00-72.1%
-$9
5.00-65.1%
-$175
6.00-58.1%
-$2,673
7.00-51.2%
-$1,186
8.00-44.2%
-$1,255
9.00-37.2%
-$3,086
10.00-30.2%
-$3,784
11.00-23.2%
-$3,081
12.00-16.3%
-$15,982
13.00-9.3%
-$7,723
14.00-2.3%
+$3,237
15.004.7%
+$15,187
16.0011.7%
+$22,949
17.0018.6%
+$6,820
18.0025.6%
+$1,921
19.0032.6%
+$2,726
20.0039.6%
+$14,729
21.0046.5%
+$4,395
22.0053.5%
+$5,745
23.0060.5%
+$4,567
24.0067.5%
+$1,928
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
Near-term options are materially richer than later expirations, consistent with concentrated event or immediate-risk pricing.
1.23
21 Aug
10d
1.11
18 Sep
38d
1.15
16 Oct
66d
1.06
20 Nov
101d
0.92
15 Jan
157d
0.99
19 Feb
192d
Volatility by Strike
Balanced wings
Comparable upside calls and downside puts carry broadly similar implied volatility.
12
13
14
15
16
17
Put IV Call IV
Historical Replay
How matured reads behaved through expiry
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
Retained chain100%
Implied volatility100%
Two-sided quotes100%
Open interest100%
- Chain status
- Complete available chain
- Market date
- 11 Aug 2026
- Calculation
- v2.0
- Contracts
- 258 / 258
- 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
Multi-expiry position-maintenance candidate
Activity is spread across expirations with heavier open interest than current volume, which can be consistent with position maintenance.
Options pressure and weekly price action are pointing in the same constructive direction.
Multi-expiry position-maintenance candidate matters because it connects the options headline to the actual evidence: $743,313 of estimated gross traded notional, calls · 91+ days · itm, and a bullish flow confirms price backdrop. Use it as a research priority signal, then validate the chart, liquidity, event calendar, and risk before acting.
Options pressure+20
1W price+25.0%
Call premium60%
Put premium40%
Notional split
C 60% / P 40%
Estimated gross traded notional uses volume × contract multiplier × midpoint, or last price when no valid midpoint is available.
Freshness
0.08
Volume divided by open interest across the visible chain.
Trend fit
46/100
Agreement between options pressure and Sharemaestro market context.
Aggregate chain data does not identify trade aggressor or opening versus closing activity; call/put concentration is not proof of market direction.
Roll detection is conservative because opening and closing legs are not directly observable in this snapshot.
Calls · 91+ days · ITM
calls cluster with 173 contracts traded, $237,215 estimated gross traded notional, and 32% of visible notional.
$237,215
Puts · 91+ days · ITM
puts cluster with 149 contracts traded, $101,412 estimated gross traded notional, and 14% of visible notional.
$101,412
Puts · 8-21 days · ITM
puts cluster with 167 contracts traded, $91,365 estimated gross traded notional, and 12% of visible notional.
$91,365
Calls · 91+ days · OTM
calls cluster with 448 contracts traded, $78,720 estimated gross traded notional, and 11% of visible notional.
$78,720
Calls · 8-21 days · ITM
calls cluster with 59 contracts traded, $59,685 estimated gross traded notional, and 8% of visible notional.
$59,685
Setup Classification
Opportunity and risk frame
The tape is pricing or displaying unusually elevated activity.
Expected move or upcoming earnings makes the setup more event-sensitive.
Call pressure is building while the stock sits above Sharemaestro fair value.
Activity Anomaly
High anomaly
Current options activity is unusually hot versus this ticker's stored history.
Baseline: 10 completed sessions
Volume rank100th
Volume/OI rank100th
IV rank70th
Market Context
Underlying confirmation
Close14.33
1W+25.0%
RS1.7
Fair value+32.0%
Options pressure20
Speculation25
Volatility96
Trend fit46
Today Versus Normal
Stored-options context
30d avg 24.6% · 10 sessions
0th
90d avg - · 10/30 sessions
-
180d avg - · 10/60 sessions
-
30d avg 1.17 · 10 sessions
70th
90d avg - · 10/30 sessions
-
180d avg - · 10/60 sessions
-
30d avg 0.56 · 10 sessions
60th
90d avg - · 10/30 sessions
-
180d avg - · 10/60 sessions
-
30d avg 0.03 · 10 sessions
100th
90d avg - · 10/30 sessions
-
180d avg - · 10/60 sessions
-
Pressure Trail
Recent pressure and volatility
29 Jul 11:17
Bullish
Pressure 55
Move 23.7%
30 Jul 11:02
Volatility
Pressure 70
Move 20.0%
31 Jul 10:42
Bullish
Pressure 35
Move 23.0%
1 Aug 13:15
Bullish
Pressure 42
Move 23.0%
2 Aug 17:39
Bullish
Pressure 42
Move 22.0%
3 Aug 23:47
Mixed
Pressure 18
Move 23.3%
5 Aug 10:32
Mixed
Pressure 16
Move 28.8%
6 Aug 10:44
Mixed
Pressure -11
Move 26.8%
Strike Map
Where activity is clustering
Strike1.00
Calls · V 1 · OI 0
Puts · V 0 · OI 0
Strike2.00
Calls · V 1 · OI 0
Puts · V 0 · OI 2
Strike3.00
Calls · V 0 · OI 0
Puts · V 0 · OI 2
Strike4.00
Calls · V 0 · OI 0
Puts · V 6 · OI 21
Strike5.00
Calls · V 5 · OI 9
Puts · V 1 · OI 41
Strike6.00
Calls · V 26 · OI 14
Puts · V 1 · OI 1106
Strike7.00
Calls · V 12 · OI 102
Puts · V 2 · OI 1134
Strike8.00
Calls · V 4 · OI 92
Puts · V 6 · OI 215
Term Structure
Expiration activity
Expiry21 Aug 2026
Contracts61
Avg IV1.23
Put-call0.76
Expiry18 Sep 2026
Contracts22
Avg IV1.11
Put-call3.26
Expiry16 Oct 2026
Contracts47
Avg IV1.15
Put-call0.68
Expiry20 Nov 2026
Contracts45
Avg IV1.06
Put-call0.61
Expiry15 Jan 2027
Contracts55
Avg IV0.92
Put-call0.33
Skew
Call/put IV balance
21 Aug 2026Put IV premium
Call IV1.21
Put IV1.37
Skew0.17
18 Sep 2026Put IV premium
Call IV1.08
Put IV1.24
Skew0.16
16 Oct 2026Put IV premium
Call IV0.98
Put IV1.63
Skew0.65
20 Nov 2026Put IV premium
Call IV0.98
Put IV1.04
Skew0.06
15 Jan 2027Balanced skew
Call IV1.11
Put IV1.13
Skew0.03
Contract Tape
Most active contracts
ContractSPIR261120P00007000
SidePut
Expiry20 Nov 2026
Strike7.00
Volume-
OI16
IV1.32
ContractSPIR261016P00024000
SidePut
Expiry16 Oct 2026
Strike24.00
Volume-
OI15
IV1.01
ContractSPIR260821P00028000
SidePut
Expiry21 Aug 2026
Strike28.00
Volume-
OI8
IV0.00
ContractSPIR261016P00011000
SidePut
Expiry16 Oct 2026
Strike11.00
Volume-
OI6
IV1.34
ContractSPIR260918C00009000
SideCall
Expiry18 Sep 2026
Strike9.00
Volume-
OI5
IV1.04
ContractSPIR261120C00009000
SideCall
Expiry20 Nov 2026
Strike9.00
Volume-
OI5
IV3.01
ContractSPIR260821P00029000
SidePut
Expiry21 Aug 2026
Strike29.00
Volume-
OI4
IV0.00
ContractSPIR270115P00022000
SidePut
Expiry15 Jan 2027
Strike22.00
Volume-
OI3
IV1.55
Research Graph
Related research and context
Sharemaestro research
Related News
No recent ticker-specific news yet.
Market Watch
No recent market-watch posts yet.
Earnings
No upcoming matched earnings event.
Plain English Guide
Options context
What usually looks constructive
What usually looks cautious
Options can move quickly and can lose value fast. Treat this as research context, not a buy or sell instruction.