Oppty · Contract evidence
← Contract historyOI Formation & Direction
AMZN · Aug 7, 2026 · $275 call
AMZN260807C00275000
Two-stage assessment
Confirmed net formation
OI increased by 48 contracts after the source session.
- Initiation evidence
- Suggestive tape pressure · Bid-led
- Underlying implication
- Consistent with bearish or neutral call overwriting
Settlement arithmetic
Formation window
- Source trade date
- July 10, 2026Tape session
- Baseline OI
- 2,843OI visible on source date
- Settlement observation
- July 13, 2026Next returned trading row
- Settled OI
- 2,891Next observation
- OI change
- +48Settled minus baseline
- Trade-day volume
- 154Bound denominator
- Net-formation ratio
- 31.17%OI change ÷ volume
Bound-first attribution
Side partitions & lower bounds
Each raw bound is max(0, OI change − (volume − side volume)).
A positive value is the minimum net formation forced into that quote-side bucket.
- Ask
- 65Raw lower bound: 0
- Bid
- 69Raw lower bound: 0
- Mid
- 20Raw lower bound: 0
- Neutral
- 0Raw lower bound: 0
- Clean ask
- 0Side volume after allowing all flagged structure to contaminate this bucket
- Clean bid
- 0Side volume after allowing all flagged structure to contaminate this bucket
Conservative allowance
Flagged structure
The clean dominant-side bound allows every flagged contract to contaminate that side. Because flags can overlap, their sum is capped at daily volume.
- Multileg
- 46Flags may overlap
- Stock multileg
- 0Flags may overlap
- Cross
- 0Flags may overlap
- Floor
- 0Flags may overlap
- Clamped structure allowance
- 46Sum capped at total volume
Context only
Intraday corroboration
Minute clustering, premium, and IV describe the tape. They cannot create or increase a mathematical bound.
- Active minutes
- 41Returned minute buckets
- Largest minute
- 3019.48% of daily volume
- Ask/bid premium imbalance
- -3.70%Positive is ask-premium led
- IV range
- 43.55% – 45.14%Descriptive only
- Daily reconciliation
- ReconciledMinute side totals versus daily side totals
Interpretation boundaries
What this report cannot verify
Motive and identity remain unknown
These aggregates cannot distinguish speculation, hedging, overwriting, participant capacity, or verified open/close labels.
Conditional dealer mechanics
If a dealer was the counterparty, carried this position without portfolio offsets, and delta-hedged it, the mechanical scenario could require the dealer to sell underlying. This is not verified flow.
confirmed_net_formation
side_bias_only