Ticker Options Intelligence

CAI options intelligence

Caris Life Sciences, Inc. Common Stock options pressure, expected move, strike concentration, and Sharemaestro trend context.

Conviction 42 Market data through 31 Jul 2026 Checked 31 Jul 2026 22:01 · complete available chain

Call-side pressure

Bullish pressure

CAI currently carries bullish options pressure with a 42/100 conviction score. The nearest-chain expected move is 16.8%, with volume/open-interest participation at 0.14.

Options Intelligence Opportunities Bullish confirmation Risks Unusual flow Vol expansion Repeated pressure Compare Chart Weekly report
Primary read Bullish

Call-side pressure

Expected move 16.8%

Wider near-term move priced

Activity / OI 0.14

Current volume is quieter versus prior open interest

Put-call 0.42

Call-side skew

Trend fit 10

Options are not fully confirming trend

Weekly backdrop +1.0%

RS -40.8

Expected move 16.8%
Put-call volume 0.42
Volume / OI 0.14
Reference IV 1.00
Max pain 15.00
Underlying 15.52
Nearest expiry 21 Aug 2026
Contracts 105

Research Brief

CAI 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 12.92–18.12; The largest call open-interest concentration is 20.00; the largest put concentration is 15.00. The most active strike by current volume is 15.00.

Priced range12.92–18.12
Call concentration20.00
Put concentration15.00
Max pain reference15.00
What would confirm it
  • Price holds or improves while call-side concentration remains elevated.
What would weaken it
  • Price weakens while call pressure fades or reverses toward puts.
  • Options and the weekly trend are not yet giving the same message.
  • 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

Size, not direction · through 21 Aug

Options imply 12.92 to 18.12. Max pain at 15.00 sits inside that range, 3.4% below spot.

Spot Max pain
12.9215.52 ± 2.6018.12
Confirmation level

A close beyond 18.12 or below 12.92 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 42/100

Evidence alignment, not probability

Pressure is 48/100 toward calls; conviction uses its strength, while the signal label carries its direction.

Directional pressure48 × 42%
+20.4

How strongly activity leans toward calls or puts.

Participation43 × 22%
+9.5

Volume relative to existing open interest and contract-level activity.

Trend agreement10 × 26%
+2.6

How closely the chain read agrees with the underlying trend backdrop.

Volatility96 × 10%
+9.6

The intensity of implied volatility and the priced move.

Reconstructed score42.1Matches stored calculation

Positioning by Strike

Where open interest and current activity concentrate

Full strike map

The largest call open-interest concentration is 20.00; the largest put concentration is 15.00. The most active strike by current volume is 15.00. Open-interest concentrations show where positions exist; they are not proven support, resistance or dealer exposure.

Put open interestStrikeCall open interest
93
2.50-83.9%
0
5
5.00-67.8%
0
2
10.00-35.6%
3
114
12.50-19.5%
0
598
15.00-3.4%
101
39
17.5012.8%
31
12
20.0028.9%
2422
0
22.5045.0%
197
Nearest spot strike Max pain strikeBars show relative OI within this expiry

Volatility Curve

Front-loaded volatility

1.55× front/back

Near-term options are materially richer than later expirations, consistent with concentrated event or immediate-risk pricing.

1.00 21 Aug 21d
1.90 18 Sep 49d
0.69 16 Oct 77d
0.70 18 Dec 140d
0.80 15 Jan 168d
0.90 19 Mar 231d
0.65 17 Dec 504d

Volatility by Strike

Upside optionality premium

Nearest expiry, within 20% of spot

Out-of-the-money calls carry higher implied volatility than comparable puts, indicating richer upside optionality.

13
15
18
Put IV Call IV

Historical Replay

How matured reads behaved through expiry

0 directional observations

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

A99/100
Retained chain100%
Implied volatility100%
Two-sided quotes97%
Open interest100%
Chain status
Complete available chain
Market date
31 Jul 2026
Calculation
v2.0
Contracts
105 / 105
  • 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

87/100
Primary intent Earnings/event positioning

Options activity is concentrated around a live event window, so the cleanest read is event positioning rather than pure direction.

Flow vs price divergence Bullish flow before price confirmation

Call-side pressure is building before a meaningful weekly price response.

Why this matters

Earnings/event positioning matters because it connects the options headline to the actual evidence: $335335 of estimated gross traded notional, calls · 91+ days · itm, and a bullish flow before price confirmation backdrop. Use it as a research priority signal, then validate the chart, liquidity, event calendar, and risk before acting.

Options pressure+48
1W price+1.0%
Call premium74%
Put premium26%
Notional split C 74% / P 26% Estimated gross traded notional uses volume × contract multiplier × midpoint, or last price when no valid midpoint is available.
Freshness 0.14 Volume divided by open interest across the visible chain.
Trend fit 10/100 Agreement between options pressure and Sharemaestro market context.
Event window 5 Aug Matched earnings event is 3 days away.
Aggregate chain data does not identify trade aggressor or opening versus closing activity; call/put concentration is not proof of market direction.
Conviction clusters Calls · 91+ days · ITM
Calls · 91+ days · ITM calls cluster with 260 contracts traded, $165244 estimated gross traded notional, and 49% of visible notional.
$165244
Puts · 91+ days · ITM puts cluster with 38 contracts traded, $35142 estimated gross traded notional, and 10% of visible notional.
$35142
Calls · 8-21 days · ITM calls cluster with 182 contracts traded, $32210 estimated gross traded notional, and 10% of visible notional.
$32210
Puts · 46-90 days · OTM puts cluster with 203 contracts traded, $31025 estimated gross traded notional, and 9% of visible notional.
$31025
Calls · 91+ days · OTM calls cluster with 130 contracts traded, $24485 estimated gross traded notional, and 7% of visible notional.
$24485

Setup Classification

Opportunity and risk frame

Context, not advice
Warning Volatility expansion

The tape is pricing or displaying unusually elevated activity.

Warning Event-risk setup

Expected move or upcoming earnings makes the setup more event-sensitive.

Negative Options disagreement

Options positioning is not confirming the underlying trend context.

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

Sharemaestro weekly
Close15.67
1W+1.0%
RS-40.8
Fair value-35.6%
Options pressure48
Speculation43
Volatility96
Trend fit10

Today Versus Normal

Stored-options context

View history
Expected move 16.8% history building
30d avg - · 3/10 sessions -
90d avg - · 3/30 sessions -
180d avg - · 3/60 sessions -
IV 1.00 history building
30d avg - · 3/10 sessions -
90d avg - · 3/30 sessions -
180d avg - · 3/60 sessions -
Put-call 0.42 history building
30d avg - · 3/10 sessions -
90d avg - · 3/30 sessions -
180d avg - · 3/60 sessions -
Volume/OI 0.14 history building
30d avg - · 3/10 sessions -
90d avg - · 3/30 sessions -
180d avg - · 3/60 sessions -

Pressure Trail

Recent pressure and volatility

Open trail
29 Jul 10:40 Volatility
Pressure -19
Move 13.4%
30 Jul 10:38 Bullish
Pressure 50
Move 17.7%
31 Jul 10:24 Volatility
Pressure 98
Move 23.2%
31 Jul 21:01 Bullish
Pressure 48
Move 16.8%

Strike Map

Where activity is clustering

Full strike map
Strike2.50
Calls · V 0 · OI 0
Puts · V 1 · OI 93
Strike5.00
Calls · V 0 · OI 0
Puts · V 0 · OI 5
Strike10.00
Calls · V 2 · OI 3
Puts · V 1 · OI 2
Strike12.50
Calls · V 0 · OI 0
Puts · V 1 · OI 114
Strike15.00
Calls · V 180 · OI 101
Puts · V 101 · OI 598
Strike17.50
Calls · V 10 · OI 31
Puts · V 1 · OI 39
Strike20.00
Calls · V 191 · OI 2422
Puts · V 5 · OI 12
Strike22.50
Calls · V 2 · OI 197
Puts · V 0 · OI 0

Term Structure

Expiration activity

Volume and IV
Expiry21 Aug 2026
Contracts12
Avg IV1.00
Put-call0.29
Expiry18 Sep 2026
Contracts4
Avg IV1.90
Put-call2.00
Expiry16 Oct 2026
Contracts17
Avg IV0.69
Put-call0.93
Expiry18 Dec 2026
Contracts23
Avg IV0.70
Put-call0.16
Expiry15 Jan 2027
Contracts19
Avg IV0.80
Put-call0.22

Skew

Call/put IV balance

OTM demand
21 Aug 2026Call IV premium
Call IV1.18
Put IV0.79
Skew-0.39
18 Sep 2026Balanced skew
Call IV0.79
Put IV0.82
Skew0.03
16 Oct 2026Call IV premium
Call IV0.97
Put IV0.66
Skew-0.31
18 Dec 2026Balanced skew
Call IV0.85
Put IV0.82
Skew-0.04
15 Jan 2027Balanced skew
Call IV0.80
Put IV0.77
Skew-0.03

Contract Tape

Most active contracts

Full contract tape
ContractCAI271217P00007500
SidePut
Expiry17 Dec 2027
Strike7.50
Volume-
OI10
IV0.98
ContractCAI271217C00005000
SideCall
Expiry17 Dec 2027
Strike5.00
Volume-
OI7
IV1.00
ContractCAI261016C00005000
SideCall
Expiry16 Oct 2026
Strike5.00
Volume-
OI6
IV4.77
ContractCAI260821P00005000
SidePut
Expiry21 Aug 2026
Strike5.00
Volume-
OI5
IV7.55
ContractCAI270319P00020000
SidePut
Expiry19 Mar 2027
Strike20.00
Volume-
OI4
IV0.77
ContractCAI260918P00010000
SidePut
Expiry18 Sep 2026
Strike10.00
Volume-
OI3
IV2.59
ContractCAI271217C00012500
SideCall
Expiry17 Dec 2027
Strike12.50
Volume-
OI3
IV0.97
ContractCAI260918P00007500
SidePut
Expiry18 Sep 2026
Strike7.50
Volume-
OI1
IV3.43