Primary read
Volatility
Volatility expansion watch
Ticker Options Intelligence
JSPR options intelligence
Jasper Therapeutics Inc options pressure, expected move, strike concentration, and Sharemaestro trend context.
Conviction
48
Market data through 30 Jul 2026
Checked 30 Jul 2026 16:46 · complete available chain
Volatility expansion watch
Volatility pressure
JSPR currently carries volatility options pressure with a 48/100 conviction score. The nearest-chain expected move is 268.7%, with volume/open-interest participation at 0.34.
Expected move
268.7%
Wider near-term move priced
Activity / OI
0.34
Current volume is quieter versus prior open interest
Put-call
2.18
Put-side skew
Trend fit
82
Options agree with trend context
Weekly backdrop
-8.5%
RS -62.8
Expected move
268.7%
Put-call volume
2.18
Volume / OI
0.34
Reference IV
7.57
Max pain
2.50
Underlying
0.69
Nearest expiry
21 Aug 2026
Contracts
38
Research Brief
JSPR 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 0.00–2.54; The largest call open-interest concentration is 2.50; the largest put concentration is 2.50. The most active strike by current volume is 7.50.
Priced range0.00–2.54
Call concentration2.50
Put concentration2.50
Max pain reference2.50
- A clear directional pressure reading develops and price begins to agree.
- The current chain read already agrees with the stored weekly trend context.
- 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
Options imply 0.00 to 2.54. Max pain at 2.50 sits inside that range, 263.2% above spot. The theoretical downside extends below zero, so the displayed lower bound is floored at 0.00.
Spot
Max pain
0.000.69 ± 1.852.54
Confirmation level
A close beyond 2.54 or below 0.00 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 32/100 toward puts; conviction uses its strength, while the signal label carries its direction.
Directional pressure32 × 42%
+13.3
How strongly activity leans toward calls or puts.
Participation16 × 22%
+3.5
Volume relative to existing open interest and contract-level activity.
Trend agreement82 × 26%
+21.3
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 2.50; the largest put concentration is 2.50. The most active strike by current volume is 7.50. Open-interest concentrations show where positions exist; they are not proven support, resistance or dealer exposure.
Put open interestStrikeCall open interest
8
2.50263.2%
210
0
5.00626.3%
63
0
7.50989.5%
113
Nearest spot strike Max pain strikeBars show relative OI within this expiry
Volatility Curve
Front-loaded volatility
Near-term options are materially richer than later expirations, consistent with concentrated event or immediate-risk pricing.
7.57
21 Aug
22d
3.50
16 Oct
78d
2.86
18 Dec
141d
2.51
15 Jan
169d
Volatility by Strike
Smile incomplete
There is not enough comparable OTM call and put volatility to classify the smile.
Comparable strike volatility is unavailable.
Put IV Call IV
Historical Replay
How matured reads behaved through expiry
No independently verifiable option-expiry outcomes have matured yet. Legacy snapshots without a point-in-time market reference and repeated same-session snapshots are deliberately excluded.
Directional follow-through-
Moves contained by pricing-
Average expiry move-
Validation readiness
- Versioned calculationv2 observations only
- Independent entryone read per market session
- Point-in-time referencerequired at entry
- Matched expiry closereported only after maturity
Only v2 snapshots with a point-in-time market reference are eligible. Each observation uses one read per market session and the first weekly close on or immediately after expiry. 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
- 30 Jul 2026
- Calculation
- v1.x legacy
- Contracts
- 38 / 38
- 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
Options activity is concentrated around a live event window, so the cleanest read is event positioning rather than pure direction.
Options are pricing movement more than direction; compare expected move with the stock's actual weekly change.
Earnings/event positioning matters because it connects the options headline to the actual evidence: $51903 of estimated gross traded notional, puts · 91+ days · otm, 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-32
1W price-8.5%
Call premium18%
Put premium82%
Notional split
C 18% / P 82%
Estimated gross traded notional uses volume × contract multiplier × midpoint, or last price when no valid midpoint is available.
Freshness
0.34
Volume divided by open interest across the visible chain.
Trend fit
82/100
Agreement between options pressure and Sharemaestro market context.
Event window
12 Aug
Matched earnings event is 11 days away.
Aggregate chain data does not identify trade aggressor or opening versus closing activity; call/put concentration is not proof of market direction.
Puts · 91+ days · OTM
puts cluster with 310 contracts traded, $16600 estimated gross traded notional, and 32% of visible notional.
$16600
Puts · 46-90 days · OTM
puts cluster with 300 contracts traded, $15000 estimated gross traded notional, and 29% of visible notional.
$15000
Calls · 91+ days · OTM
calls cluster with 179 contracts traded, $7495 estimated gross traded notional, and 14% of visible notional.
$7495
Puts · 46-90 days · ITM
puts cluster with 23 contracts traded, $7490 estimated gross traded notional, and 14% of visible notional.
$7490
Puts · 91+ days · ITM
puts cluster with 14 contracts traded, $2190 estimated gross traded notional, and 4% of visible notional.
$2190
Setup Classification
Opportunity and risk frame
Positioning agrees with the Sharemaestro trend backdrop.
The tape is pricing or displaying unusually elevated activity.
Expected move or upcoming earnings makes the setup more event-sensitive.
Activity Anomaly
Warming up
2 of 10 completed market sessions are available. More session history is needed before activity can be compared with a reliable normal.
Baseline: 2 completed sessions
Volume rank-
Volume/OI rank-
IV rank-
Market Context
Underlying confirmation
Close0.63
1W-8.5%
RS-62.8
Fair value-93.5%
Options pressure-32
Speculation16
Volatility96
Trend fit82
Today Versus Normal
Stored-options context
30d avg - · 2/10 sessions
-
90d avg - · 2/30 sessions
-
180d avg - · 2/60 sessions
-
30d avg - · 2/10 sessions
-
90d avg - · 2/30 sessions
-
180d avg - · 2/60 sessions
-
30d avg - · 2/10 sessions
-
90d avg - · 2/30 sessions
-
180d avg - · 2/60 sessions
-
30d avg - · 2/10 sessions
-
90d avg - · 2/30 sessions
-
180d avg - · 2/60 sessions
-
Pressure Trail
Recent pressure and volatility
29 Jul 11:50
Volatility
Pressure 100
Move 284.7%
30 Jul 11:26
Volatility
Pressure 100
Move 292.0%
30 Jul 15:31
Volatility
Pressure -36
Move 276.0%
30 Jul 15:46
Volatility
Pressure -32
Move 268.7%
Strike Map
Where activity is clustering
Strike2.50
Calls · V 24 · OI 210
Puts · V 1 · OI 8
Strike5.00
Calls · V 21 · OI 63
Puts · V 1 · OI 0
Strike7.50
Calls · V 58 · OI 113
Puts · V 1 · OI 0
Term Structure
Expiration activity
Expiry21 Aug 2026
Contracts6
Avg IV7.57
Put-call0.03
Expiry16 Oct 2026
Contracts14
Avg IV3.50
Put-call23.07
Expiry18 Dec 2026
Contracts11
Avg IV2.86
Put-call1.97
Expiry15 Jan 2027
Contracts7
Avg IV2.51
Put-call0.45
Skew
Call/put IV balance
21 Aug 2026Incomplete skew
Call IV3.50
Put IV-
Skew-
16 Oct 2026Call IV premium
Call IV7.19
Put IV2.34
Skew-4.84
18 Dec 2026Call IV premium
Call IV4.53
Put IV1.97
Skew-2.56
15 Jan 2027Call IV premium
Call IV4.91
Put IV1.80
Skew-3.11
Contract Tape
Most active contracts
ContractJSPR261016C00000500
SideCall
Expiry16 Oct 2026
Strike0.50
Volume-
OI4
IV5.25
ContractJSPR270115C00002500
SideCall
Expiry15 Jan 2027
Strike2.50
Volume-
OI3
IV4.75
ContractJSPR261016C00002000
SideCall
Expiry16 Oct 2026
Strike2.00
Volume-
OI2
IV6.75
ContractJSPR261218P00002000
SidePut
Expiry18 Dec 2026
Strike2.00
Volume-
OI1
IV2.70
ContractJSPR261016C00007500
SideCall
Expiry16 Oct 2026
Strike7.50
Volume-
OI-
IV0.50
ContractJSPR261016C00002500
SideCall
Expiry16 Oct 2026
Strike2.50
Volume-
OI-
IV0.50
ContractJSPR270115P00002500
SidePut
Expiry15 Jan 2027
Strike2.50
Volume-
OI-
IV0.00
ContractJSPR270115C00002000
SideCall
Expiry15 Jan 2027
Strike2.00
Volume-
OI-
IV0.50
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
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.