Primary read
Volatility
Volatility expansion watch
Ticker Options Intelligence
FIGR options intelligence
Figure Technology Solutions, Inc. Class A Common Stock options pressure, expected move, strike concentration, and Sharemaestro trend context.
Conviction
49
Market data through 31 Jul 2026
Checked 2 Aug 2026 02:45 · complete available chain
Volatility expansion watch
Volatility pressure
FIGR currently carries volatility options pressure with a 49/100 conviction score. The nearest-chain expected move is 9.1%, with volume/open-interest participation at 0.03.
Expected move
9.1%
Wider near-term move priced
Activity / OI
0.03
Current volume is quieter versus prior open interest
Put-call
0.59
Call-side skew
Trend fit
69
Options agree with trend context
Weekly backdrop
-9.7%
Sharemaestro weekly context
Expected move
9.1%
Put-call volume
0.59
Volume / OI
0.03
Reference IV
0.83
Max pain
27.00
Underlying
24.91
Nearest expiry
7 Aug 2026
Contracts
688
Research Brief
FIGR has a volatility chain read with 49/100 evidence alignment.
The practical question is whether the underlying confirms the options concentration. The chain prices a reference range of 22.64–27.18; The largest call open-interest concentration is 27.50; the largest put concentration is 23.50. The most active strike by current volume is 25.50.
Priced range22.64–27.18
Call concentration27.50
Put concentration23.50
Max pain reference27.00
- A clear directional pressure reading develops and price begins to agree.
- The current chain read already agrees with the stored weekly trend context.
- Volatility falls and the chain remains directionally mixed.
Priced Move
Where the chain says movement becomes exceptional
Options imply 22.64 to 27.18. Max pain at 27.00 sits inside that range, 8.4% above spot.
Spot
Max pain
22.6424.91 ± 2.2727.18
Confirmation level
A close beyond 27.18 or below 22.64 at the 7 Aug expiry would exceed the move currently priced by this chain.
Important limitation
The range is a pricing reference, not a forecast; volatility can reprice sharply after news or as expiry approaches.
Score Construction
Why conviction is 49/100
Pressure is 31/100 toward calls; conviction uses its strength, while the signal label carries its direction.
Directional pressure31 × 42%
+12.9
How strongly activity leans toward calls or puts.
Participation41 × 22%
+8.9
Volume relative to existing open interest and contract-level activity.
Trend agreement69 × 26%
+18.0
How closely the chain read agrees with the underlying trend backdrop.
Volatility93 × 10%
+9.3
The intensity of implied volatility and the priced move.
Positioning by Strike
Where open interest and current activity concentrate
The largest call open-interest concentration is 27.50; the largest put concentration is 23.50. The most active strike by current volume is 25.50. Open-interest concentrations show where positions exist; they are not proven support, resistance or dealer exposure.
Put open interestStrikeCall open interest
16245
23.50-5.7%
0
310
24.00-3.7%
33
8151
24.50-1.6%
0
86
25.000.4%
1
7
25.502.4%
11
154
26.004.4%
62
40
27.008.4%
1229
111
27.5010.4%
8129
65
28.0012.4%
102
38
28.5014.4%
1218
19
30.0020.4%
111
29
31.0024.4%
89
13
32.0028.5%
144
2
33.0032.5%
148
9
34.0036.5%
67
12
35.0040.5%
158
0
40.0060.6%
643
Nearest spot strike Max pain strikeBars show relative OI within this expiry
Volatility Curve
Balanced volatility curve
Near- and longer-dated implied volatility are broadly aligned; no exceptional front-expiry premium is visible.
0.83
7 Aug
7d
1.08
14 Aug
14d
1.04
21 Aug
21d
0.98
28 Aug
28d
0.96
4 Sep
35d
0.93
11 Sep
42d
0.92
18 Sep
49d
0.91
20 Nov
112d
Volatility by Strike
Downside protection premium
Out-of-the-money puts carry higher implied volatility than comparable calls, indicating richer downside protection.
20
21
21
22
22
23
23
24
24
25
25
26
26
27
27
28
28
29
29
30
Put IV Call IV
Historical Replay
How matured reads behaved through expiry
Forward validation is building. The earliest eligible stored read expires 31 Jul 2026; its result will appear after the matched closing reference is stored.
Directional follow-through-
Moves contained by pricing-
Average expiry move-
Validation readiness
- Versioned calculationv2 observations only
- Independent entryone read per market session
- Point-in-time referencerequired at entry
- Matched expiry closereported only after maturity
Only v2 snapshots with a point-in-time market reference are eligible. Each observation uses one read per market session and the first weekly close on or immediately after expiry. It is an evidence audit, not an executable strategy or evidence of future performance.
Evidence Quality
High
Retained chain100%
Implied volatility100%
Two-sided quotes100%
Open interest100%
- Chain status
- Complete available chain
- Market date
- 31 Jul 2026
- Calculation
- v2.0
- Contracts
- 688 / 688
- No material coverage gap was detected in the retained chain.
Aggregate chain data supports concentration, participation and pricing analysis. It does not identify trade aggressor, opening versus closing activity, multi-leg intent or dealer inventory.
Options Intent Radar
Earnings/event positioning
Options activity is concentrated around a live event window, so the cleanest read is event positioning rather than pure direction.
Options are pricing movement more than direction; compare expected move with the stock's actual weekly change.
Earnings/event positioning matters because it connects the options headline to the actual evidence: $594702 of estimated gross traded notional, calls · 46-90 days · otm, and a volatility flow versus price backdrop. Use it as a research priority signal, then validate the chart, liquidity, event calendar, and risk before acting.
Options pressure+31
1W price-9.7%
Call premium54%
Put premium46%
Notional split
C 54% / P 46%
Estimated gross traded notional uses volume × contract multiplier × midpoint, or last price when no valid midpoint is available.
Freshness
0.03
Volume divided by open interest across the visible chain.
Trend fit
69/100
Agreement between options pressure and Sharemaestro market context.
Event window
10 Aug
Matched earnings event is 8 days away.
Aggregate chain data does not identify trade aggressor or opening versus closing activity; call/put concentration is not proof of market direction.
Calls · 46-90 days · OTM
calls cluster with 785 contracts traded, $130598 estimated gross traded notional, and 22% of visible notional.
$130598
Puts · 8-21 days · OTM
puts cluster with 693 contracts traded, $82860 estimated gross traded notional, and 14% of visible notional.
$82860
Calls · 91+ days · OTM
calls cluster with 188 contracts traded, $53798 estimated gross traded notional, and 9% of visible notional.
$53798
Puts · 91+ days · ATM
puts cluster with 105 contracts traded, $49875 estimated gross traded notional, and 8% of visible notional.
$49875
Puts · 91+ days · ITM
puts cluster with 55 contracts traded, $36045 estimated gross traded notional, and 6% of visible notional.
$36045
Setup Classification
Opportunity and risk frame
Positioning agrees with the Sharemaestro trend backdrop.
The tape is pricing or displaying unusually elevated activity.
Expected move or upcoming earnings makes the setup more event-sensitive.
Activity Anomaly
Warming up
3 of 10 completed market sessions are available. More session history is needed before activity can be compared with a reliable normal.
Baseline: 3 completed sessions
Volume rank-
Volume/OI rank-
IV rank-
Market Context
Underlying confirmation
Close24.91
1W-9.7%
RS-
Fair value-33.9%
Options pressure31
Speculation41
Volatility93
Trend fit69
Today Versus Normal
Stored-options context
30d avg - · 3/10 sessions
-
90d avg - · 3/30 sessions
-
180d avg - · 3/60 sessions
-
30d avg - · 3/10 sessions
-
90d avg - · 3/30 sessions
-
180d avg - · 3/60 sessions
-
30d avg - · 3/10 sessions
-
90d avg - · 3/30 sessions
-
180d avg - · 3/60 sessions
-
30d avg - · 3/10 sessions
-
90d avg - · 3/30 sessions
-
180d avg - · 3/60 sessions
-
Pressure Trail
Recent pressure and volatility
29 Jul 10:32
Mixed
Pressure 5
Move 7.4%
30 Jul 10:30
Volatility
Pressure -10
Move 10.8%
30 Jul 17:09
Volatility
Pressure 13
Move 8.7%
31 Jul 13:48
Volatility
Pressure 12
Move 7.3%
31 Jul 14:35
Volatility
Pressure 21
Move 10.6%
1 Aug 07:22
Volatility
Pressure 31
Move 10.2%
2 Aug 01:45
Volatility
Pressure 31
Move 9.1%
Strike Map
Where activity is clustering
Strike15.00
Calls · V 0 · OI 0
Puts · V 0 · OI 0
Strike16.00
Calls · V 0 · OI 0
Puts · V 0 · OI 0
Strike17.00
Calls · V 0 · OI 0
Puts · V 0 · OI 0
Strike18.00
Calls · V 0 · OI 0
Puts · V 0 · OI 0
Strike19.00
Calls · V 0 · OI 3
Puts · V 0 · OI 43
Strike19.50
Calls · V 0 · OI 0
Puts · V 0 · OI 0
Strike20.00
Calls · V 0 · OI 5
Puts · V 0 · OI 10
Strike20.50
Calls · V 0 · OI 0
Puts · V 0 · OI 0
Term Structure
Expiration activity
Expiry7 Aug 2026
Contracts102
Avg IV0.83
Put-call0.51
Expiry14 Aug 2026
Contracts96
Avg IV1.08
Put-call0.55
Expiry21 Aug 2026
Contracts122
Avg IV1.04
Put-call1.24
Expiry28 Aug 2026
Contracts58
Avg IV0.98
Put-call2.61
Expiry4 Sep 2026
Contracts54
Avg IV0.96
Put-call0.90
Skew
Call/put IV balance
7 Aug 2026Balanced skew
Call IV0.84
Put IV0.81
Skew-0.03
14 Aug 2026Balanced skew
Call IV1.10
Put IV1.11
Skew0.01
21 Aug 2026Balanced skew
Call IV1.07
Put IV1.03
Skew-0.04
28 Aug 2026Balanced skew
Call IV0.99
Put IV0.97
Skew-0.02
4 Sep 2026Balanced skew
Call IV0.99
Put IV0.96
Skew-0.03
Contract Tape
Most active contracts
ContractFIGR260918C00030000
SideCall
Expiry18 Sep 2026
Strike30.00
Volume778
OI74
IV0.91
ContractFIGR260821P00022500
SidePut
Expiry21 Aug 2026
Strike22.50
Volume519
OI2640
IV1.07
ContractFIGR260821C00035000
SideCall
Expiry21 Aug 2026
Strike35.00
Volume277
OI8421
IV1.03
ContractFIGR260807C00025500
SideCall
Expiry7 Aug 2026
Strike25.50
Volume180
OI11
IV0.80
ContractFIGR260814C00030000
SideCall
Expiry14 Aug 2026
Strike30.00
Volume121
OI50
IV1.00
ContractFIGR261120P00025000
SidePut
Expiry20 Nov 2026
Strike25.00
Volume105
OI953
IV0.89
ContractFIGR260911C00030000
SideCall
Expiry11 Sep 2026
Strike30.00
Volume103
OI-
IV0.91
ContractFIGR261120P00020000
SidePut
Expiry20 Nov 2026
Strike20.00
Volume100
OI55
IV0.89
Research Graph
Related research and context
Sharemaestro research
Related News
No recent ticker-specific news yet.
Market Watch
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Earnings
Plain English Guide
Options context
What usually looks constructive
What usually looks cautious
Options can move quickly and can lose value fast. Treat this as research context, not a buy or sell instruction.