Primary read
Bullish
Call-side pressure
Ticker Options Intelligence
LULG options intelligence
Leverage Shares 2X Long LULU Daily ETF options pressure, expected move, strike concentration, and Sharemaestro trend context.
Conviction
40
Market data through 31 Jul 2026
Checked 3 Aug 2026 12:02 · complete available chain
Call-side pressure
Bullish pressure
LULG currently carries bullish options pressure with a 40/100 conviction score. The nearest-chain expected move is 15.6%, with volume/open-interest participation at 0.02.
Expected move
15.6%
Wider near-term move priced
Activity / OI
0.02
Current volume is quieter versus prior open interest
Put-call
0.67
Call-side skew
Trend fit
70
Options agree with trend context
Weekly backdrop
+7.6%
Sharemaestro weekly context
Expected move
15.6%
Put-call volume
0.67
Volume / OI
0.02
Reference IV
0.48
Max pain
6.00
Underlying
6.43
Nearest expiry
21 Aug 2026
Contracts
164
Research Brief
LULG has a bullish chain read with 40/100 evidence alignment.
The practical question is whether the underlying confirms the options concentration. The chain prices a reference range of 5.43–7.43; The largest call open-interest concentration is 5.00; the largest put concentration is 7.00. The most active strike by current volume is 6.00.
Priced range5.43–7.43
Call concentration5.00
Put concentration7.00
Max pain reference6.00
- Price holds or improves while call-side concentration remains elevated.
- The current chain read already agrees with the stored weekly trend context.
- Price weakens while call pressure fades or reverses toward puts.
Priced Move
Where the chain says movement becomes exceptional
Options imply 5.43 to 7.43. Max pain at 6.00 sits inside that range, 6.7% below spot.
Spot
Max pain
5.436.43 ± 1.007.43
Confirmation level
A close beyond 7.43 or below 5.43 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 40/100
Pressure is 30/100 toward calls; conviction uses its strength, while the signal label carries its direction.
Directional pressure30 × 42%
+12.5
How strongly activity leans toward calls or puts.
Participation8 × 22%
+1.8
Volume relative to existing open interest and contract-level activity.
Trend agreement70 × 26%
+18.2
How closely the chain read agrees with the underlying trend backdrop.
Volatility74 × 10%
+7.4
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 5.00; the largest put concentration is 7.00. The most active strike by current volume is 6.00. Open-interest concentrations show where positions exist; they are not proven support, resistance or dealer exposure.
Put open interestStrikeCall open interest
0
1.00-84.4%
0
0
2.00-68.9%
0
1
3.00-53.3%
0
0
4.00-37.8%
2
0
5.00-22.2%
12
5
6.00-6.7%
3
13
7.008.9%
1
0
8.0024.4%
5
1
9.0040.0%
0
0
10.0055.5%
0
0
11.0071.1%
0
0
12.0086.6%
0
0
13.00102.2%
0
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+$657Delta change / 1% move
Positive peak7.00+$379
Negative peak6.00-$88
Nearest balance6.19Interpolated sign change
StrikeNegativePositiveNet / 1% move
2.00-68.9%
-$0
3.00-53.3%
+$12
4.00-37.8%
+$9
5.00-22.2%
+$58
6.00-6.7%
-$88
7.008.9%
+$379
8.0024.4%
+$60
9.0040.0%
+$208
10.0055.5%
+$21
11.0071.1%
-$8
12.0086.6%
-$3
14.00117.7%
+$7
15.00133.3%
+$1
19.00195.5%
+$0
22.00242.1%
+$0
23.00257.7%
+$1
25.00288.8%
+$0
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
Back-loaded volatility
Longer-dated options carry more implied volatility than the front expiry, so risk is priced farther out.
0.48
21 Aug
21d
0.96
18 Sep
49d
0.76
18 Dec
140d
0.89
19 Mar
231d
Volatility by Strike
Downside protection premium
Out-of-the-money puts carry higher implied volatility than comparable calls, indicating richer downside protection.
6
7
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
High
Retained chain100%
Implied volatility100%
Two-sided quotes100%
Open interest100%
- Chain status
- Complete available chain
- Market date
- 31 Jul 2026
- Calculation
- v2.0
- Contracts
- 164 / 164
- 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: $440 of estimated gross traded notional, calls · 8-21 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+30
1W price+7.6%
Call premium51%
Put premium49%
Notional split
C 51% / P 49%
Estimated gross traded notional uses volume × contract multiplier × midpoint, or last price when no valid midpoint is available.
Freshness
0.02
Volume divided by open interest across the visible chain.
Trend fit
70/100
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 · 8-21 days · ITM
calls cluster with 3 contracts traded, $225 estimated gross traded notional, and 51% of visible notional.
$225
Puts · 91+ days · OTM
puts cluster with 2 contracts traded, $215 estimated gross traded notional, and 49% of visible notional.
$215
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
3 of 10 completed market sessions are available. More session history is needed before activity can be compared with a reliable normal.
Baseline: 3 completed sessions
Volume rank-
Volume/OI rank-
IV rank-
Market Context
Underlying confirmation
Close6.43
1W+7.6%
RS-
Fair value-53.6%
Options pressure30
Speculation8
Volatility74
Trend fit70
Today Versus Normal
Stored-options context
30d avg - · 3/10 sessions
-
90d avg - · 3/30 sessions
-
180d avg - · 3/60 sessions
-
30d avg - · 3/10 sessions
-
90d avg - · 3/30 sessions
-
180d avg - · 3/60 sessions
-
30d avg - · 2/10 sessions
-
90d avg - · 2/30 sessions
-
180d avg - · 2/60 sessions
-
30d avg - · 3/10 sessions
-
90d avg - · 3/30 sessions
-
180d avg - · 3/60 sessions
-
Pressure Trail
Recent pressure and volatility
29 Jul 12:43
Volatility
Pressure 100
Move 25.9%
30 Jul 12:39
Bearish
Pressure -90
Move 9.7%
31 Jul 12:05
Mixed
Pressure -4
Move 17.6%
3 Aug 11:02
Bullish
Pressure 30
Move 15.6%
Strike Map
Where activity is clustering
Strike1.00
Calls · V 0 · OI 0
Puts · V 0 · OI 0
Strike2.00
Calls · V 0 · OI 0
Puts · V 0 · OI 0
Strike3.00
Calls · V 0 · OI 0
Puts · V 0 · OI 1
Strike4.00
Calls · V 0 · OI 2
Puts · V 0 · OI 0
Strike5.00
Calls · V 0 · OI 12
Puts · V 0 · OI 0
Strike6.00
Calls · V 3 · OI 3
Puts · V 0 · OI 5
Strike7.00
Calls · V 0 · OI 1
Puts · V 0 · OI 13
Strike8.00
Calls · V 0 · OI 5
Puts · V 0 · OI 0
Term Structure
Expiration activity
Expiry21 Aug 2026
Contracts26
Avg IV0.48
Put-call-
Expiry18 Sep 2026
Contracts68
Avg IV0.96
Put-call-
Expiry18 Dec 2026
Contracts44
Avg IV0.76
Put-call-
Expiry19 Mar 2027
Contracts26
Avg IV0.89
Put-call-
Skew
Call/put IV balance
21 Aug 2026Put IV premium
Call IV0.23
Put IV0.74
Skew0.51
18 Sep 2026Put IV premium
Call IV0.32
Put IV1.21
Skew0.90
18 Dec 2026Balanced skew
Call IV0.07
Put IV0.09
Skew0.02
19 Mar 2027Put IV premium
Call IV0.13
Put IV1.22
Skew1.09
Contract Tape
Most active contracts
ContractLULG260821C00006000
SideCall
Expiry21 Aug 2026
Strike6.00
Volume3
OI3
IV0.01
ContractLULG270319P00004000
SidePut
Expiry19 Mar 2027
Strike4.00
Volume2
OI-
IV1.37
ContractLULG260918C00009000
SideCall
Expiry18 Sep 2026
Strike9.00
Volume-
OI87
IV0.44
ContractLULG260918C00007000
SideCall
Expiry18 Sep 2026
Strike7.00
Volume-
OI62
IV1.42
ContractLULG261218C00006000
SideCall
Expiry18 Dec 2026
Strike6.00
Volume-
OI21
IV1.03
ContractLULG260821P00007000
SidePut
Expiry21 Aug 2026
Strike7.00
Volume-
OI13
IV0.01
ContractLULG261218C00008000
SideCall
Expiry18 Dec 2026
Strike8.00
Volume-
OI13
IV1.23
ContractLULG260821C00005000
SideCall
Expiry21 Aug 2026
Strike5.00
Volume-
OI12
IV0.93
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.