Oppty · Contract evidence
← Contract historyOI Formation & Direction
DRAM · Aug 7, 2026 · $72.5 call
DRAM260807C00072500
Two-stage assessment
No net formation
The next observation shows no net change in open interest.
- Initiation evidence
- Indeterminate · Unknown
- Underlying implication
- Underlying implication unresolved
Settlement arithmetic
Formation window
- Source trade date
- June 25, 2026Tape session
- Baseline OI
- 0OI visible on source date
- Settlement observation
- June 26, 2026Next returned trading row
- Settled OI
- 0Next observation
- OI change
- 0Settled minus baseline
- Trade-day volume
- 0Bound denominator
- Net-formation ratio
- UnavailableOI 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
- 0Raw lower bound: Unavailable
- Bid
- 0Raw lower bound: Unavailable
- Mid
- 0Raw lower bound: Unavailable
- Neutral
- 0Raw lower bound: Unavailable
- Clean ask
- UnavailableSide volume after allowing all flagged structure to contaminate this bucket
- Clean bid
- UnavailableSide 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
- 0Flags may overlap
- Stock multileg
- 0Flags may overlap
- Cross
- 0Flags may overlap
- Floor
- 0Flags may overlap
- Clamped structure allowance
- 0Sum capped at total volume
Context only
Intraday corroboration
Minute clustering, premium, and IV describe the tape. They cannot create or increase a mathematical bound.
No usable intraday rows were returned for this session.
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
No dealer hedge scenario is shown while initiation bias is unresolved.
nonpositive_open_interest_change
intraday_unavailable