Primary read
Bullish
Call-side pressure
Ticker Options Intelligence
AMZW options intelligence
ROUNDHILL AMZN WEEKLYPAY ETF options pressure, expected move, strike concentration, and Sharemaestro trend context.
Conviction
42
Market data through 14 Sep 2026
Checked 15 Sep 2026 13:47 · complete available chain
Call-side pressure
Bullish pressure
AMZW currently carries bullish options pressure with a 42/100 conviction score. The nearest-chain expected move is 2.0%, with volume/open-interest participation at 0.01.
Expected move
2.0%
Near-term move context
Activity / OI
0.01
Current volume is quieter versus prior open interest
Put-call
0.00
Call-side skew
Trend fit
4
Options are not fully confirming trend
Weekly backdrop
-0.7%
RS -7.4
Expected move
2.0%
Put-call volume
-
Volume / OI
0.01
Reference IV
0.19
Max pain
38.00
Underlying
36.32
Nearest expiry
18 Sep 2026
Contracts
162
Research Brief
AMZW has a bullish chain read with 42/100 evidence alignment.
The practical question is whether the underlying confirms the options concentration. The chain prices a reference range of 35.59–37.05; The largest call open-interest concentration is 47.00; the largest put concentration is 37.00. The most active strike by current volume is 20.00.
Priced range35.59–37.05
Call concentration47.00
Put concentration37.00
Max pain reference38.00
- Price holds or improves while call-side concentration remains elevated.
- Price weakens while call pressure fades or reverses toward puts.
- Options and the weekly trend are not yet giving the same message.
Priced Move
Where the chain says movement becomes exceptional
Options imply 35.59 to 37.05. Max pain at 38.00 lies outside the priced range, so it is a weak near-term anchor.
Spot
Max pain
35.5936.32 ± 0.7337.05
Confirmation level
A close beyond 37.05 or below 35.59 at the 18 Sep 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 42/100
Pressure is 88/100 toward calls; conviction uses its strength, while the signal label carries its direction.
Directional pressure88 × 42%
+37.0
How strongly activity leans toward calls or puts.
Participation8 × 22%
+1.8
Volume relative to existing open interest and contract-level activity.
Trend agreement4 × 26%
+1.0
How closely the chain read agrees with the underlying trend backdrop.
Volatility22 × 10%
+2.2
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 47.00; the largest put concentration is 37.00. The most active strike by current volume is 20.00. Open-interest concentrations show where positions exist; they are not proven support, resistance or dealer exposure.
Put open interestStrikeCall open interest
0
20.00-44.9%
0
0
25.00-31.2%
0
0
30.00-17.4%
0
0
31.00-14.6%
0
0
32.00-11.9%
0
0
33.00-9.1%
0
3
34.00-6.4%
0
5
35.00-3.6%
0
7
36.00-0.9%
0
40
37.001.9%
2
1
38.004.6%
2
0
39.007.4%
0
1
40.0010.1%
1
0
41.0012.9%
2
0
42.0015.6%
2
1
43.0018.4%
0
0
47.0029.4%
12
Nearest spot strike Max pain strikeBars show relative OI within this expiry
Gamma Profile by Strike
Negative gamma proxy
Put-side gamma sensitivity outweighs the call-side proxy across the retained chain. The largest bars mark levels where delta-hedging sensitivity may be most concentrated.
Net profile-$21,264Delta change / 1% move
Positive peak47.00+$83
Negative peak37.00-$9,186
Nearest balance40.96Interpolated sign change
StrikeNegativePositiveNet / 1% move
31.00-14.6%
-$1,081
32.00-11.9%
-$1,780
33.00-9.1%
-$2,774
34.00-6.4%
-$603
35.00-3.6%
-$2,510
36.00-0.9%
-$374
37.001.9%
-$9,186
38.004.6%
-$1,356
39.007.4%
-$847
40.0010.1%
-$847
41.0012.9%
+$40
42.0015.6%
+$50
47.0029.4%
+$83
48.0032.2%
+$6
50.0037.7%
-$87
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.
0.19
18 Sep
4d
0.29
16 Oct
32d
0.41
18 Dec
95d
0.41
19 Mar
186d
Volatility by Strike
Upside optionality premium
Out-of-the-money calls carry higher implied volatility than comparable puts, indicating richer upside optionality.
30
31
32
33
34
35
36
37
38
39
40
41
42
43
Put IV Call IV
Historical Replay
How matured reads behaved through expiry
Across 3 stored directional transitions, the next stored price moved in the labelled direction 67% of the time.
Directional follow-through67%
Moves contained by pricing20%
Average expiry move9.4%
5 Aug
Mixed · 32
-9.7% through expiry
3.5% priced · v2.0
4 Aug
Bullish · 38
-9.7% through expiry
4.0% priced · v2.0
3 Aug
Bearish · 50
-9.7% through expiry
4.1% priced · v2.0
31 Jul
Mixed · 35
-9.7% through expiry
6.4% priced · v2.0
30 Jul
Bullish · 44
8.1% through expiry
11.6% priced · v2.0
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
- 14 Sep 2026
- Calculation
- v2.0
- Contracts
- 162 / 162
- 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
Call activity against legacy put OI
Call activity is dominant while put open interest remains large but current put volume is not leading.
Options are leaning call-side while the stock is down on the week, a divergence that needs price confirmation.
Call activity against legacy put OI matters because it connects the options headline to the actual evidence: $436 of estimated gross traded notional, calls · 91+ days · atm, and a bullish flow against weak price backdrop. Use it as a research priority signal, then validate the chart, liquidity, event calendar, and risk before acting.
Options pressure+88
1W price-0.7%
Call premium100%
Put premium0%
Notional split
C 100% / P 0%
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
4/100
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.
Do not infer a hedge unwind without next-session open-interest changes and opening/closing data.
Calls · 91+ days · ATM
calls cluster with 1 contracts traded, $242 estimated gross traded notional, and 56% of visible notional.
$242
Calls · 91+ days · OTM
calls cluster with 1 contracts traded, $193 estimated gross traded notional, and 44% of visible notional.
$193
Setup Classification
Opportunity and risk frame
Options positioning is not confirming the underlying trend context.
Activity Anomaly
Normal range
Activity is broadly in line with recent stored snapshots.
Baseline: 13 completed sessions
Volume rank62th
Volume/OI rank62th
IV rank31th
Market Context
Underlying confirmation
Close36.32
1W-0.7%
RS-7.4
Fair value+1.0%
Options pressure88
Speculation8
Volatility22
Trend fit4
Today Versus Normal
Stored-options context
30d avg - · 6/10 sessions
-
90d avg - · 13/30 sessions
-
180d avg - · 13/60 sessions
-
30d avg - · 6/10 sessions
-
90d avg - · 13/30 sessions
-
180d avg - · 13/60 sessions
-
30d avg - · 3/10 sessions
-
90d avg - · 7/30 sessions
-
180d avg - · 7/60 sessions
-
30d avg - · 6/10 sessions
-
90d avg - · 13/30 sessions
-
180d avg - · 13/60 sessions
-
Pressure Trail
Recent pressure and volatility
29 Jul 11:58
Bearish
Pressure -100
Move 6.2%
30 Jul 11:32
Mixed
Pressure -12
Move 7.8%
31 Jul 11:04
Bullish
Pressure 88
Move 11.6%
3 Aug 10:05
Mixed
Pressure 8
Move 6.4%
4 Aug 11:22
Bearish
Pressure -100
Move 4.1%
5 Aug 11:46
Bullish
Pressure 55
Move 4.0%
6 Aug 11:59
Mixed
Pressure -12
Move 3.5%
23 Aug 15:37
Mixed
Pressure -12
Move 7.5%
Strike Map
Where activity is clustering
Strike20.00
Calls · V 0 · OI 0
Puts · V 0 · OI 0
Strike25.00
Calls · V 0 · OI 0
Puts · V 0 · OI 0
Strike30.00
Calls · V 0 · OI 0
Puts · V 0 · OI 0
Strike31.00
Calls · V 0 · OI 0
Puts · V 0 · OI 0
Strike32.00
Calls · V 0 · OI 0
Puts · V 0 · OI 0
Strike33.00
Calls · V 0 · OI 0
Puts · V 0 · OI 0
Strike34.00
Calls · V 0 · OI 0
Puts · V 0 · OI 3
Strike35.00
Calls · V 0 · OI 0
Puts · V 0 · OI 5
Term Structure
Expiration activity
Expiry18 Sep 2026
Contracts42
Avg IV0.19
Put-call-
Expiry16 Oct 2026
Contracts38
Avg IV0.29
Put-call-
Expiry18 Dec 2026
Contracts44
Avg IV0.41
Put-call-
Expiry19 Mar 2027
Contracts38
Avg IV0.41
Put-call-
Skew
Call/put IV balance
18 Sep 2026Put IV premium
Call IV0.21
Put IV0.44
Skew0.23
16 Oct 2026Put IV premium
Call IV0.07
Put IV0.44
Skew0.37
18 Dec 2026Put IV premium
Call IV0.29
Put IV0.54
Skew0.25
19 Mar 2027Put IV premium
Call IV0.05
Put IV0.57
Skew0.52
Contract Tape
Most active contracts
ContractAMZW270319C00039000
SideCall
Expiry19 Mar 2027
Strike39.00
Volume1
OI1
IV0.05
ContractAMZW270319C00036000
SideCall
Expiry19 Mar 2027
Strike36.00
Volume1
OI-
IV0.23
ContractAMZW270319P00033000
SidePut
Expiry19 Mar 2027
Strike33.00
Volume-
OI92
IV0.64
ContractAMZW270319P00032000
SidePut
Expiry19 Mar 2027
Strike32.00
Volume-
OI62
IV0.64
ContractAMZW260918P00037000
SidePut
Expiry18 Sep 2026
Strike37.00
Volume-
OI40
IV0.41
ContractAMZW270319P00031000
SidePut
Expiry19 Mar 2027
Strike31.00
Volume-
OI32
IV0.51
ContractAMZW261218P00038000
SidePut
Expiry18 Dec 2026
Strike38.00
Volume-
OI30
IV0.61
ContractAMZW261218P00040000
SidePut
Expiry18 Dec 2026
Strike40.00
Volume-
OI20
IV0.61
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.