Oppty · Contract evidence
← Contract historyOI Formation & Direction
VIXW · Jul 1, 2026 · $15 put
VIXW260701P00015000
Two-stage assessment
Confirmed net formation
OI increased by 149,434 contracts after the source session.
- Initiation evidence
- Bounded, with mixed formation · Ask-led
- Underlying implication
- Consistent with bearish or protective put demand
Settlement arithmetic
Formation window
- Source trade date
- June 29, 2026Tape session
- Baseline OI
- 1,246OI visible on source date
- Settlement observation
- June 30, 2026Next returned trading row
- Settled OI
- 150,680Next observation
- OI change
- +149,434Settled minus baseline
- Trade-day volume
- 150,142Bound denominator
- Net-formation ratio
- 99.53%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
- 136,987Raw lower bound: 136,279
- Bid
- 12,142Raw lower bound: 11,434
- Mid
- 1,013Raw lower bound: 305
- Neutral
- 0Raw lower bound: 0
- Clean ask
- 53,827Side 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
- 1Flags may overlap
- Stock multileg
- 0Flags may overlap
- Cross
- 0Flags may overlap
- Floor
- 82,451Flags may overlap
- Clamped structure allowance
- 82,452Sum 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
- 15Returned minute buckets
- Largest minute
- 50,10033.37% of daily volume
- Ask/bid premium imbalance
- +85.99%Positive is ask-premium led
- IV range
- 106.47% – 146.73%Descriptive only
- Daily reconciliation
- MismatchMinute 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
clean_bound_forces_side
multiple_buckets_forced
intraday_partition_mismatch