Oppty · Contract evidence
← Contract historyOI Formation & Direction
LI · Aug 21, 2026 · $12 put
LI260821P00012000
Two-stage assessment
Awaiting settlement
The next trading-day OI observation is not available yet. Tape pressure is provisional.
- Initiation evidence
- Suggestive tape pressure · Ask-led
- Underlying implication
- Underlying implication unresolved
Reload after the next trading-day OI observation is published. Current ask/bid pressure is descriptive only.
Settlement arithmetic
Formation window
- Source trade date
- July 15, 2026Tape session
- Baseline OI
- 6,277OI visible on source date
- Settlement observation
- PendingNext returned trading row
- Settled OI
- UnavailableNext observation
- OI change
- UnavailableSettled minus baseline
- Trade-day volume
- 224Bound 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
- 153Raw lower bound: Unavailable
- Bid
- 69Raw lower bound: Unavailable
- Mid
- 2Raw 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
- 2Flags may overlap
- Stock multileg
- 0Flags may overlap
- Cross
- 0Flags may overlap
- Floor
- 0Flags may overlap
- Clamped structure allowance
- 2Sum 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
- 10Returned minute buckets
- Largest minute
- 18683.04% of daily volume
- Ask/bid premium imbalance
- +38.76%Positive is ask-premium led
- IV range
- 58.89% – 64.78%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.
settlement_pending
side_bias_only