# Market tide: cumulative options premium

Source: SquawkFlow
URL: https://squawkflow.com/market-tide
Type: Session-cumulative net option premium, delayed options chain
Session: 2026-09-10

> Computed from a delayed options chain, not from a signed tape. Side is inferred from where the last trade sat relative to the quote, and contracts that printed mid-market stay unknown and are left out of the signed totals.

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## Session 2026-09-10, in progress

- Cumulative net call premium: $106.4M
- Cumulative net put premium: -$28.3M
- Net tide (net calls minus net puts): $134.7M
- Unknown-side premium, excluded from the signed totals: $86.3M, 12.3% of all premium observed
- Distinct contracts in the curve: 488
- Last capture: 12:59 PT, one capture every 15 seconds

## Through the session

| Time | Net calls | Net puts | Net tide | Contracts |
| --- | --- | --- | --- | --- |
| 06:30 PT | $27.7M | $0 | $27.7M | 20 |
| 07:00 PT | $24.4M | -$26.1M | $50.5M | 195 |
| 07:31 PT | $116.1M | $465K | $115.6M | 270 |
| 08:02 PT | $16.2M | -$26.2M | $42.3M | 322 |
| 08:33 PT | -$119.6M | $5.3M | -$124.9M | 353 |
| 09:10 PT | $9.6M | -$35.6M | $45.2M | 371 |
| 09:40 PT | $93.8M | -$47.1M | $140.9M | 392 |
| 10:10 PT | $91.9M | -$30.3M | $122.1M | 407 |
| 10:42 PT | -$25.3M | -$4.4M | -$20.9M | 420 |
| 11:12 PT | -$5.0M | -$14.0M | $9.0M | 435 |
| 11:42 PT | $73.0M | -$13.6M | $86.6M | 449 |
| 12:13 PT | $24.3M | $9.7M | $14.6M | 473 |
| 12:44 PT | -$38.9M | -$12.6M | -$26.3M | 486 |
| 12:59 PT | $106.4M | -$28.3M | $134.7M | 488 |

## Universe

The curve covers 20 symbols, not the whole market. The scanner reads 2 of them every 8 seconds, so any one name is re-read about every 80 seconds and whatever happens between two readings of a name is never seen on its own.

AAPL, MSFT, GOOGL, AMZN, NVDA, META, TSLA, AMD, NFLX, SPY, QQQ, IWM, COIN, PLTR, SOFI, BAC, JPM, GS, XOM, V

A contract enters the curve only when its volume is at least 10, its open interest is at least 1, and its volume is at least 1.5 times its open interest. Each reading of a symbol keeps only the 20 highest-scoring contracts on that symbol, so ordinary strikes never reach the curve at all.

## How the accounting works

- Premium: quote midpoint times contract day volume times 100.
- Side: Side is inferred from where the last trade sat relative to the quote. Contracts printing mid-market, or with no quote, stay unknown and are excluded from the signed totals.
- Unknown side: Premium on contracts whose side could not be inferred is totalled on its own and shown beside the curves. It is never added into them, so the signed totals cover less than all of the premium observed.
- Reclassification: Each contract carries one estimate and one inferred side, and a reading that shows more volume replaces both. When a contract counted as bought is later counted as sold, its whole estimate moves across, so the signed curve shifts by twice that estimate. A large jump can be a reclassification of premium already on the chart, not that much new buying or selling.
- Reset: The curve resets at the 06:30 America/Los_Angeles session open.
- Nothing here is advice or a recommendation.

## Citation

Source: SquawkFlow, https://squawkflow.com/market-tide
Retrieved: 2026-09-11 00:31 ET
Attribution: cite the page URL rather than a copied number. Levels are
recomputed every session, so a number without its date is wrong within a day.

SquawkFlow publishes market-structure data and education. Nothing here is
investment advice, a price target or a recommendation, and we have no order
execution.