Primary read
Bearish
Put-side pressure
Ticker Options Intelligence
KNX options intelligence
Knight Transportation Inc options pressure, expected move, strike concentration, and Sharemaestro trend context.
Conviction
41
Market data through 31 Jul 2026
Checked 31 Jul 2026 16:35 · complete available chain
Put-side pressure
Bearish pressure
KNX currently carries bearish options pressure with a 41/100 conviction score. The nearest-chain expected move is 6.9%, with volume/open-interest participation at 0.09.
Expected move
6.9%
Wider near-term move priced
Activity / OI
0.09
Current volume is quieter versus prior open interest
Put-call
2.01
Put-side skew
Trend fit
71
Options agree with trend context
Weekly backdrop
-4.1%
RS 13.7
Expected move
6.9%
Put-call volume
2.01
Volume / OI
0.09
Reference IV
0.39
Max pain
65.00
Underlying
72.50
Nearest expiry
21 Aug 2026
Contracts
239
Research Brief
KNX has a bearish chain read with 41/100 evidence alignment.
The practical question is whether the underlying confirms the options concentration. The chain prices a reference range of 67.52–77.48; The largest call open-interest concentration is 90.00; the largest put concentration is 40.00. The most active strike by current volume is 72.50.
Priced range67.52–77.48
Call concentration90.00
Put concentration40.00
Max pain reference65.00
- Price remains weak while put-side concentration persists.
- The current chain read already agrees with the stored weekly trend context.
- Price recovers while put pressure fades or reverses toward calls.
Priced Move
Where the chain says movement becomes exceptional
Options imply 67.52 to 77.48. Max pain at 65.00 lies outside the priced range, so it is a weak near-term anchor.
Spot
Max pain
67.5272.50 ± 4.9877.48
Confirmation level
A close beyond 77.48 or below 67.52 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 41/100
Pressure is 29/100 toward puts; conviction uses its strength, while the signal label carries its direction.
Directional pressure29 × 42%
+12.3
How strongly activity leans toward calls or puts.
Participation22 × 22%
+4.9
Volume relative to existing open interest and contract-level activity.
Trend agreement71 × 26%
+18.5
How closely the chain read agrees with the underlying trend backdrop.
Volatility55 × 10%
+5.5
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 90.00; the largest put concentration is 40.00. The most active strike by current volume is 72.50. Open-interest concentrations show where positions exist; they are not proven support, resistance or dealer exposure.
Put open interestStrikeCall open interest
1640
40.00-44.8%
1
576
42.50-41.4%
0
99
50.00-31.0%
1
98
55.00-24.1%
62
354
57.50-20.7%
9
70
60.00-17.2%
114
626
62.50-13.8%
1024
859
65.00-10.3%
757
32
67.50-6.9%
185
106
70.00-3.4%
116
256
72.500.0%
130
636
75.003.4%
975
291
77.506.9%
140
13
80.0010.3%
918
6
82.5013.8%
765
0
85.0017.2%
563
1
90.0024.1%
1254
Nearest spot strike Max pain strikeBars show relative OI within this expiry
Volatility Curve
Balanced volatility curve
Near- and longer-dated implied volatility are broadly aligned; no exceptional front-expiry premium is visible.
0.40
21 Aug
21d
0.39
18 Sep
49d
0.37
20 Nov
112d
0.29
18 Dec
140d
0.25
15 Jan
168d
0.42
19 Feb
203d
0.09
21 Jan
539d
0.45
15 Dec
868d
Volatility by Strike
Downside protection premium
Out-of-the-money puts carry higher implied volatility than comparable calls, indicating richer downside protection.
60
63
65
68
70
73
75
78
80
83
85
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
- 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
High
Retained chain100%
Implied volatility100%
Two-sided quotes100%
Open interest100%
- Chain status
- Complete available chain
- Market date
- 31 Jul 2026
- Calculation
- v2.0
- Contracts
- 239 / 239
- 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
Put-heavy activity
Put-side activity dominates. This can reflect hedging or directional positioning, but the chain alone cannot distinguish buying from selling.
Options pressure and weekly price action are both cautionary.
Put-heavy activity matters because it connects the options headline to the actual evidence: $2.7M of estimated gross traded notional, puts · 91+ days · itm, and a bearish flow confirms price backdrop. Use it as a research priority signal, then validate the chart, liquidity, event calendar, and risk before acting.
Options pressure-29
1W price-4.1%
Call premium36%
Put premium64%
Notional split
C 36% / P 64%
Estimated gross traded notional uses volume × contract multiplier × midpoint, or last price when no valid midpoint is available.
Freshness
0.09
Volume divided by open interest across the visible chain.
Trend fit
71/100
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.
Puts · 91+ days · ITM
puts cluster with 707 contracts traded, $1.4M estimated gross traded notional, and 50% of visible notional.
$1.4M
Calls · 91+ days · ITM
calls cluster with 326 contracts traded, $663250 estimated gross traded notional, and 24% of visible notional.
$663250
Calls · 91+ days · OTM
calls cluster with 328 contracts traded, $225940 estimated gross traded notional, and 8% of visible notional.
$225940
Puts · 91+ days · OTM
puts cluster with 491 contracts traded, $166826 estimated gross traded notional, and 6% of visible notional.
$166826
Puts · 8-21 days · ITM
puts cluster with 70 contracts traded, $98020 estimated gross traded notional, and 4% of visible notional.
$98020
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
Close69.53
1W-4.1%
RS13.7
Fair value+33.7%
Options pressure-29
Speculation22
Volatility55
Trend fit71
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 - · 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
-
Pressure Trail
Recent pressure and volatility
29 Jul 10:25
Bearish
Pressure -77
Move 7.8%
30 Jul 10:21
Bearish
Pressure -81
Move 7.4%
30 Jul 18:23
Bearish
Pressure -29
Move 8.0%
30 Jul 23:25
Bearish
Pressure -29
Move 7.5%
31 Jul 13:26
Bullish
Pressure 75
Move 7.5%
31 Jul 13:47
Bearish
Pressure -29
Move 4.8%
31 Jul 14:26
Bearish
Pressure -29
Move 7.2%
31 Jul 15:35
Bearish
Pressure -29
Move 6.9%
Strike Map
Where activity is clustering
Strike37.50
Calls · V 0 · OI 0
Puts · V 4 · OI 0
Strike40.00
Calls · V 0 · OI 1
Puts · V 10 · OI 1640
Strike42.50
Calls · V 0 · OI 0
Puts · V 10 · OI 576
Strike45.00
Calls · V 0 · OI 0
Puts · V 2 · OI 5
Strike47.50
Calls · V 0 · OI 0
Puts · V 1 · OI 56
Strike50.00
Calls · V 1 · OI 1
Puts · V 1 · OI 99
Strike52.50
Calls · V 2 · OI 3
Puts · V 1 · OI 0
Strike55.00
Calls · V 11 · OI 62
Puts · V 5 · OI 98
Term Structure
Expiration activity
Expiry21 Aug 2026
Contracts44
Avg IV0.40
Put-call1.81
Expiry18 Sep 2026
Contracts10
Avg IV0.39
Put-call9.50
Expiry20 Nov 2026
Contracts27
Avg IV0.37
Put-call0.86
Expiry18 Dec 2026
Contracts48
Avg IV0.29
Put-call1.90
Expiry15 Jan 2027
Contracts37
Avg IV0.25
Put-call2.42
Skew
Call/put IV balance
21 Aug 2026Balanced skew
Call IV0.38
Put IV0.39
Skew0.02
18 Sep 2026Balanced skew
Call IV0.38
Put IV0.39
Skew0.02
20 Nov 2026Balanced skew
Call IV0.42
Put IV0.39
Skew-0.03
18 Dec 2026Balanced skew
Call IV0.40
Put IV0.39
Skew-0.01
15 Jan 2027Call IV premium
Call IV0.42
Put IV0.02
Skew-0.41
Contract Tape
Most active contracts
ContractKNX281215C00105000
SideCall
Expiry15 Dec 2028
Strike105.00
Volume-
OI2500
IV0.51
ContractKNX281215P00105000
SidePut
Expiry15 Dec 2028
Strike105.00
Volume-
OI2500
IV0.30
ContractKNX260918C00090000
SideCall
Expiry18 Sep 2026
Strike90.00
Volume-
OI505
IV0.56
ContractKNX261218C00115000
SideCall
Expiry18 Dec 2026
Strike115.00
Volume-
OI36
IV0.58
ContractKNX280121P00052500
SidePut
Expiry21 Jan 2028
Strike52.50
Volume-
OI33
IV0.55
ContractKNX270219P00070000
SidePut
Expiry19 Feb 2027
Strike70.00
Volume-
OI25
IV0.39
ContractKNX260821C00115000
SideCall
Expiry21 Aug 2026
Strike115.00
Volume-
OI20
IV1.11
ContractKNX261120C00105000
SideCall
Expiry20 Nov 2026
Strike105.00
Volume-
OI17
IV0.50
Research Graph
Related research and context
Sharemaestro research
Related News
Market Watch
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.