Primary read
Volatility
Volatility expansion watch
Ticker Options Intelligence
SANM options intelligence
Sanmina Corporation options pressure, expected move, strike concentration, and Sharemaestro trend context.
Conviction
48
Market data through 11 Aug 2026
Checked 12 Aug 2026 12:03 · complete available chain
Volatility expansion watch
Volatility pressure
SANM currently carries volatility options pressure with a 48/100 conviction score. The nearest-chain expected move is 9.2%, with volume/open-interest participation at 0.01.
Expected move
9.2%
Wider near-term move priced
Activity / OI
0.01
Current volume is quieter versus prior open interest
Put-call
0.21
Call-side skew
Trend fit
24
Options are not fully confirming trend
Weekly backdrop
+9.3%
RS 7.9
Expected move
9.2%
Put-call volume
0.21
Volume / OI
0.01
Reference IV
0.70
Max pain
200.00
Underlying
202.73
Nearest expiry
21 Aug 2026
Contracts
430
Research Brief
SANM has a volatility chain read with 48/100 evidence alignment.
The practical question is whether the underlying confirms the options concentration. The chain prices a reference range of 183.98–221.48; The largest call open-interest concentration is 230.00; the largest put concentration is 185.00. The most active strike by current volume is 210.00.
Priced range183.98–221.48
Call concentration230.00
Put concentration185.00
Max pain reference200.00
- A clear directional pressure reading develops and price begins to agree.
- Volatility falls and the chain remains directionally mixed.
- Options and the weekly trend are not yet giving the same message.
Priced Move
Where the chain says movement becomes exceptional
Options imply 183.98 to 221.48. Max pain at 200.00 sits inside that range, 1.3% below spot.
Spot
Max pain
183.98202.73 ± 18.75221.48
Confirmation level
A close beyond 221.48 or below 183.98 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 48/100
Pressure is 70/100 toward calls; conviction uses its strength, while the signal label carries its direction.
Directional pressure70 × 42%
+29.5
How strongly activity leans toward calls or puts.
Participation16 × 22%
+3.6
Volume relative to existing open interest and contract-level activity.
Trend agreement24 × 26%
+6.2
How closely the chain read agrees with the underlying trend backdrop.
Volatility86 × 10%
+8.6
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 230.00; the largest put concentration is 185.00. The most active strike by current volume is 210.00. Open-interest concentrations show where positions exist; they are not proven support, resistance or dealer exposure.
Put open interestStrikeCall open interest
296
120.00-40.8%
2
725
140.00-30.9%
2
184
155.00-23.5%
8
88
165.00-18.6%
162
323
180.00-11.2%
464
1025
185.00-8.7%
45
667
190.00-6.3%
47
222
195.00-3.8%
185
848
200.00-1.3%
633
86
210.003.6%
645
315
220.008.5%
1540
74
230.0013.5%
1649
2
240.0018.4%
1250
3
250.0023.3%
198
1
260.0028.2%
466
0
290.0043.0%
200
0
300.0048.0%
1009
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+$1.4MDelta change / 1% move
Positive peak220.00+$906,167
Negative peak185.00-$404,355
Nearest balance202.32Interpolated sign change
StrikeNegativePositiveNet / 1% move
135.00-33.4%
-$251
140.00-30.9%
-$36,620
145.00-28.5%
-$20,565
150.00-26.0%
+$2,753
155.00-23.5%
+$10,554
160.00-21.1%
-$8,289
165.00-18.6%
+$83,521
170.00-16.1%
+$51,904
175.00-13.7%
+$4,301
180.00-11.2%
-$50,031
185.00-8.7%
-$404,355
190.00-6.3%
-$344,171
195.00-3.8%
-$33,933
200.00-1.3%
-$84,782
210.003.6%
+$280,812
220.008.5%
+$906,167
230.0013.5%
+$701,102
240.0018.4%
+$220,657
250.0023.3%
+$55,487
260.0028.2%
+$7,894
270.0033.2%
+$25,632
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
Balanced volatility curve
Near- and longer-dated implied volatility are broadly aligned; no exceptional front-expiry premium is visible.
0.70
21 Aug
10d
0.67
18 Sep
38d
0.68
16 Oct
66d
0.74
18 Dec
129d
0.73
15 Jan
157d
Volatility by Strike
Balanced wings
Comparable upside calls and downside puts carry broadly similar implied volatility.
165
170
175
180
185
190
195
200
210
220
230
240
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
- 430 / 430
- 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
Volatility expansion bet
The strongest message is movement risk: expected move and implied volatility are carrying more signal than direction.
Options are pricing movement more than direction; compare expected move with the stock's actual weekly change.
Volatility expansion bet matters because it connects the options headline to the actual evidence: $483,700 of estimated gross traded notional, calls · 8-21 days · atm, and a volatility flow versus price backdrop. Use it as a research priority signal, then validate the chart, liquidity, event calendar, and risk before acting.
Options pressure+70
1W price+9.3%
Call premium77%
Put premium23%
Notional split
C 77% / P 23%
Estimated gross traded notional uses volume × contract multiplier × midpoint, or last price when no valid midpoint is available.
Freshness
0.01
Volume divided by open interest across the visible chain.
Trend fit
24/100
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.
Calls · 8-21 days · ATM
calls cluster with 70 contracts traded, $75,600 estimated gross traded notional, and 16% of visible notional.
$75,600
Calls · 91+ days · ITM
calls cluster with 7 contracts traded, $70,280 estimated gross traded notional, and 15% of visible notional.
$70,280
Puts · 91+ days · ITM
puts cluster with 9 contracts traded, $67,095 estimated gross traded notional, and 14% of visible notional.
$67,095
Calls · 46-90 days · ITM
calls cluster with 6 contracts traded, $51,485 estimated gross traded notional, and 11% of visible notional.
$51,485
Calls · 8-21 days · OTM
calls cluster with 90 contracts traded, $46,907 estimated gross traded notional, and 10% of visible notional.
$46,907
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.
Options positioning is not confirming the underlying trend context.
Underlying price is close to the max-pain zone.
Activity Anomaly
Quiet tape
Activity is muted versus this ticker's stored history.
Baseline: 10 completed sessions
Volume rank10th
Volume/OI rank10th
IV rank0th
Market Context
Underlying confirmation
Close202.73
1W+9.3%
RS7.9
Fair value+98.1%
Options pressure70
Speculation16
Volatility86
Trend fit24
Today Versus Normal
Stored-options context
30d avg 16.4% · 10 sessions
0th
90d avg - · 10/30 sessions
-
180d avg - · 10/60 sessions
-
30d avg 0.78 · 10 sessions
0th
90d avg - · 10/30 sessions
-
180d avg - · 10/60 sessions
-
30d avg 1.06 · 10 sessions
20th
90d avg - · 10/30 sessions
-
180d avg - · 10/60 sessions
-
30d avg 0.13 · 10 sessions
10th
90d avg - · 10/30 sessions
-
180d avg - · 10/60 sessions
-
Pressure Trail
Recent pressure and volatility
29 Jul 10:23
Volatility
Pressure 14
Move 21.0%
30 Jul 10:19
Volatility
Pressure 87
Move 23.9%
30 Jul 13:39
Mixed
Pressure 9
Move 21.8%
31 Jul 05:49
Volatility
Pressure 30
Move 16.8%
31 Jul 17:03
Volatility
Pressure 32
Move 16.2%
1 Aug 00:22
Volatility
Pressure 9
Move 16.5%
1 Aug 01:23
Volatility
Pressure 1
Move 16.5%
3 Aug 11:06
Mixed
Pressure 1
Move 14.7%
Strike Map
Where activity is clustering
Strike90.00
Calls · V 0 · OI 0
Puts · V 0 · OI 0
Strike95.00
Calls · V 0 · OI 0
Puts · V 0 · OI 0
Strike100.00
Calls · V 0 · OI 0
Puts · V 0 · OI 0
Strike105.00
Calls · V 0 · OI 0
Puts · V 0 · OI 0
Strike110.00
Calls · V 0 · OI 1
Puts · V 0 · OI 0
Strike115.00
Calls · V 0 · OI 0
Puts · V 0 · OI 0
Strike120.00
Calls · V 0 · OI 2
Puts · V 0 · OI 296
Strike125.00
Calls · V 0 · OI 2
Puts · V 3 · OI 21
Term Structure
Expiration activity
Expiry21 Aug 2026
Contracts84
Avg IV0.70
Put-call0.11
Expiry18 Sep 2026
Contracts68
Avg IV0.67
Put-call0.15
Expiry16 Oct 2026
Contracts98
Avg IV0.68
Put-call1.20
Expiry18 Dec 2026
Contracts90
Avg IV0.74
Put-call-
Expiry15 Jan 2027
Contracts90
Avg IV0.73
Put-call0.82
Skew
Call/put IV balance
21 Aug 2026Balanced skew
Call IV0.68
Put IV0.70
Skew0.02
18 Sep 2026Balanced skew
Call IV0.67
Put IV0.68
Skew0.01
16 Oct 2026Balanced skew
Call IV0.70
Put IV0.70
Skew-
18 Dec 2026Balanced skew
Call IV0.73
Put IV0.73
Skew-
15 Jan 2027Balanced skew
Call IV0.73
Put IV0.74
Skew0.01
Contract Tape
Most active contracts
ContractSANM260821C00210000
SideCall
Expiry21 Aug 2026
Strike210.00
Volume71
OI645
IV0.65
ContractSANM260821C00200000
SideCall
Expiry21 Aug 2026
Strike200.00
Volume70
OI633
IV0.70
ContractSANM260821C00220000
SideCall
Expiry21 Aug 2026
Strike220.00
Volume18
OI1540
IV0.68
ContractSANM260918C00220000
SideCall
Expiry18 Sep 2026
Strike220.00
Volume15
OI254
IV0.67
ContractSANM270115P00260000
SidePut
Expiry15 Jan 2027
Strike260.00
Volume9
OI51
IV0.73
ContractSANM261016P00220000
SidePut
Expiry16 Oct 2026
Strike220.00
Volume7
OI96
IV0.67
ContractSANM260821P00150000
SidePut
Expiry21 Aug 2026
Strike150.00
Volume6
OI33
IV0.63
ContractSANM260821C00195000
SideCall
Expiry21 Aug 2026
Strike195.00
Volume5
OI185
IV0.73
Research Graph
Related research and context
Sharemaestro research
Related News
Market Watch
Sanmina Corporation (SANM) trades heavily into a weekly pullback25 Jun 2026 13:00
Sanmina Corporation (SANM) volume surge meets a softer weekly tape24 Jun 2026 18:00
Sanmina Corporation (SANM) volume spike lands with a weekly retreat23 Jun 2026 10:30
Sanmina Corporation (SANM) keeps active weekly trend after 107.7% twelve-week run19 Jun 2026 04:07
Sanmina Corporation (SANM) marks a 107.7% twelve-week advance17 Jun 2026 00:05
Earnings
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.