Primary read
Bullish
Call-side pressure
Ticker Options Intelligence
ZCSH options intelligence
ZCSH options pressure, expected move, strike concentration, and Sharemaestro trend context.
Conviction
53
Market data through 16 Sep 2026
Checked 17 Sep 2026 13:45 · complete available chain
Call-side pressure
Bullish pressure
ZCSH currently carries bullish options pressure with a 53/100 conviction score. The nearest-chain expected move is unavailable, with volume/open-interest participation at 0.37.
Expected move
-
Near-term move context
Activity / OI
0.37
Current volume is quieter versus prior open interest
Put-call
0.19
Call-side skew
Trend fit
13
Options are not fully confirming trend
Weekly backdrop
-
Sharemaestro weekly context
Expected move
-
Put-call volume
0.19
Volume / OI
0.37
Reference IV
1.44
Max pain
95.00
Underlying
-
Nearest expiry
18 Sep 2026
Contracts
416
Research Brief
ZCSH has a bullish chain read with 53/100 evidence alignment.
The practical question is whether the underlying confirms the options concentration. The chain prices a reference range of not available; The largest call open-interest concentration is 95.00; the largest put concentration is 95.00. The most active strike by current volume is 120.00.
Priced rangenot available
Call concentration95.00
Put concentration95.00
Max pain reference95.00
- 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
A matched underlying price and expected move are required to build the implied range.
Score Construction
Why conviction is 53/100
Pressure is 79/100 toward calls; conviction uses its strength, while the signal label carries its direction.
Directional pressure79 × 42%
+33.1
How strongly activity leans toward calls or puts.
Participation49 × 22%
+10.7
Volume relative to existing open interest and contract-level activity.
Trend agreement13 × 26%
+3.5
How closely the chain read agrees with the underlying trend backdrop.
Volatility56 × 10%
+5.6
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 95.00; the largest put concentration is 95.00. The most active strike by current volume is 120.00. Open-interest concentrations show where positions exist; they are not proven support, resistance or dealer exposure.
Put open interestStrikeCall open interest
1
70.00
32
27
80.00
0
20
84.00
0
8
85.00
0
5
90.00
11
53
95.00
468
1
96.00
12
1
100.00
9
0
102.00
8
8
103.00
60
0
106.00
0
0
109.00
87
0
110.00
10
0
115.00
3
0
120.00
8
0
125.00
31
0
130.00
58
Nearest spot strike Max pain strikeBars show relative OI within this expiry
Gamma Profile by Strike
Gamma profile unavailable
A matched underlying price is required to estimate gamma exposure by strike.
Gamma exposure will appear when the retained chain has usable open interest plus reported gamma or implied volatility.
Volatility Curve
Insufficient term structure
At least two expirations with usable near-the-money implied volatility are required.
-
18 Sep
2d
-
16 Oct
30d
-
18 Dec
93d
-
19 Mar
184d
Volatility by Strike
A matched underlying price is required for strike-relative volatility analysis.
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
- 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
Limited
Retained chain100%
Implied volatility100%
Two-sided quotes100%
Open interest100%
- Chain status
- Complete available chain
- Market date
- 16 Sep 2026
- Calculation
- v2.0
- Contracts
- 416 / 416
- No matched underlying price; price-relative measures are unavailable.
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
Directional flow, confirmation needed
There is useful activity, but aggregate chain data does not isolate participant intent.
Call-side pressure is building before a meaningful weekly price response.
Directional flow, confirmation needed matters because it connects the options headline to the actual evidence: $1.8M of estimated gross traded notional, calls · 91+ days · unpriced, 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+79
1W price-
Call premium93%
Put premium7%
Notional split
C 93% / P 7%
Estimated gross traded notional uses volume × contract multiplier × midpoint, or last price when no valid midpoint is available.
Freshness
0.37
Volume divided by open interest across the visible chain.
Trend fit
13/100
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.
Calls · 91+ days · Unpriced
calls cluster with 368 contracts traded, $1.3M estimated gross traded notional, and 73% of visible notional.
$1.3M
Calls · 22-45 days · Unpriced
calls cluster with 202 contracts traded, $235,060 estimated gross traded notional, and 13% of visible notional.
$235,060
Calls · 0-7 days · Unpriced
calls cluster with 288 contracts traded, $118,830 estimated gross traded notional, and 7% of visible notional.
$118,830
Puts · 91+ days · Unpriced
puts cluster with 44 contracts traded, $80,780 estimated gross traded notional, and 5% of visible notional.
$80,780
Puts · 22-45 days · Unpriced
puts cluster with 53 contracts traded, $36,700 estimated gross traded notional, and 2% of visible notional.
$36,700
Setup Classification
Opportunity and risk frame
The tape is pricing or displaying unusually elevated activity.
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
Close-
1W-
RS-
Fair value-
Options pressure79
Speculation49
Volatility56
Trend fit13
Today Versus Normal
Stored-options context
30d avg - · 0/10 sessions
-
90d avg - · 0/30 sessions
-
180d avg - · 0/60 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
10 Sep 13:00
Bullish
Pressure 100
Move -
13 Sep 13:26
Bullish
Pressure 94
Move -
15 Sep 19:10
Bullish
Pressure 91
Move -
17 Sep 12:45
Bullish
Pressure 79
Move -
Strike Map
Where activity is clustering
Strike55.00
Calls · V 0 · OI 1
Puts · V 0 · OI 0
Strike60.00
Calls · V 2 · OI 2
Puts · V 0 · OI 0
Strike65.00
Calls · V 0 · OI 0
Puts · V 0 · OI 0
Strike70.00
Calls · V 2 · OI 32
Puts · V 0 · OI 1
Strike71.00
Calls · V 0 · OI 0
Puts · V 0 · OI 0
Strike72.00
Calls · V 0 · OI 0
Puts · V 0 · OI 0
Strike73.00
Calls · V 0 · OI 0
Puts · V 0 · OI 0
Strike74.00
Calls · V 0 · OI 0
Puts · V 0 · OI 0
Term Structure
Expiration activity
Expiry18 Sep 2026
Contracts104
Avg IV-
Put-call0.23
Expiry16 Oct 2026
Contracts104
Avg IV-
Put-call0.26
Expiry18 Dec 2026
Contracts104
Avg IV-
Put-call0.25
Expiry19 Mar 2027
Contracts104
Avg IV-
Put-call0.06
Skew
Call/put IV balance
Skew context is warming up for this ticker.
Contract Tape
Most active contracts
ContractZCSH260918C00120000
SideCall
Expiry18 Sep 2026
Strike120.00
Volume121
OI8
IV1.83
ContractZCSH270319C00150000
SideCall
Expiry19 Mar 2027
Strike150.00
Volume98
OI70
IV1.17
ContractZCSH270319C00055000
SideCall
Expiry19 Mar 2027
Strike55.00
Volume65
OI25
IV1.21
ContractZCSH270319C00070000
SideCall
Expiry19 Mar 2027
Strike70.00
Volume45
OI175
IV1.19
ContractZCSH261016C00150000
SideCall
Expiry16 Oct 2026
Strike150.00
Volume45
OI12
IV1.16
ContractZCSH261016C00115000
SideCall
Expiry16 Oct 2026
Strike115.00
Volume43
OI-
IV1.26
ContractZCSH260918C00102000
SideCall
Expiry18 Sep 2026
Strike102.00
Volume39
OI8
IV1.61
ContractZCSH261218C00080000
SideCall
Expiry18 Dec 2026
Strike80.00
Volume35
OI18
IV1.21
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.