Ticker Options Intelligence

FE options intelligence

FirstEnergy Corporation options pressure, expected move, strike concentration, and Sharemaestro trend context.

Conviction 58 Market data through 12 Aug 2026 Checked 13 Aug 2026 11:22 · complete available chain

Put-side pressure

Bearish pressure

FE currently carries bearish options pressure with a 58/100 conviction score. The nearest-chain expected move is 2.6%, with volume/open-interest participation at 0.01.

Options Intelligence Opportunities Bullish confirmation Risks Unusual flow Vol expansion Repeated pressure Compare Chart Weekly report
Primary read Bearish

Put-side pressure

Expected move 2.6%

Near-term move context

Activity / OI 0.01

Current volume is quieter versus prior open interest

Put-call 5.92

Put-side skew

Trend fit 72

Options agree with trend context

Weekly backdrop -0.8%

RS -8.6

Expected move 2.6%
Put-call volume 5.92
Volume / OI 0.01
Reference IV 0.28
Max pain 49.00
Underlying 47.47
Nearest expiry 21 Aug 2026
Contracts 286

Research Brief

FE has a bearish chain read with 58/100 evidence alignment.

The practical question is whether the underlying confirms the options concentration. The chain prices a reference range of 46.22–48.72; The largest call open-interest concentration is 49.00; the largest put concentration is 50.00. The most active strike by current volume is 46.00.

Priced range46.22–48.72
Call concentration49.00
Put concentration50.00
Max pain reference49.00
What would confirm it
  • Price remains weak while put-side concentration persists.
  • The current chain read already agrees with the stored weekly trend context.
What would weaken it
  • Price recovers while put pressure fades or reverses toward calls.
  • Front-expiry volatility is rich, so the signal may be event-driven and vulnerable to volatility compression.

Priced Move

Where the chain says movement becomes exceptional

Size, not direction · through 21 Aug

Options imply 46.22 to 48.72. Max pain at 49.00 lies outside the priced range, so it is a weak near-term anchor.

Spot Max pain
46.2247.47 ± 1.2548.72
Confirmation level

A close beyond 48.72 or below 46.22 at the 21 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 58/100

Evidence alignment, not probability

Pressure is 67/100 toward puts; conviction uses its strength, while the signal label carries its direction.

Directional pressure67 × 42%
+28.3

How strongly activity leans toward calls or puts.

Participation39 × 22%
+8.5

Volume relative to existing open interest and contract-level activity.

Trend agreement72 × 26%
+18.6

How closely the chain read agrees with the underlying trend backdrop.

Volatility30 × 10%
+3.0

The intensity of implied volatility and the priced move.

Reconstructed score58.5Matches stored calculation

Positioning by Strike

Where open interest and current activity concentrate

Full strike map

The largest call open-interest concentration is 49.00; the largest put concentration is 50.00. The most active strike by current volume is 46.00. Open-interest concentrations show where positions exist; they are not proven support, resistance or dealer exposure.

Put open interestStrikeCall open interest
51
40.00-15.7%
0
11
41.00-13.6%
0
16
42.00-11.5%
0
67
43.00-9.4%
0
71
44.00-7.3%
0
26
45.00-5.2%
0
114
46.00-3.1%
318
104
47.00-1.0%
20
66
48.001.1%
93
282
49.003.2%
657
314
50.005.3%
629
0
55.0015.9%
39
0
60.0026.4%
2
0
65.0036.9%
1
0
70.0047.5%
1
0
75.0058.0%
0
Nearest spot strike Max pain strikeBars show relative OI within this expiry

Gamma Profile by Strike

Positive gamma proxy

Reported + model-estimated Greeks · 99% coverage

Call-side gamma sensitivity outweighs the put-side proxy across the retained chain. The largest bars mark levels where delta-hedging sensitivity may be most concentrated.

Net profile+$3.3MDelta change / 1% move
Positive peak47.00+$1.6M
Negative peak33.00-$95,365
Nearest balance44.04Interpolated sign change
StrikeNegativePositiveNet / 1% move
25.00-47.3%
-$2,060
28.00-41.0%
-$120
30.00-36.8%
-$2,616
33.00-30.5%
-$95,365
35.00-26.3%
-$17,339
38.00-19.9%
-$4,857
40.00-15.7%
-$30,661
41.00-13.6%
-$7,020
42.00-11.5%
+$12,380
43.00-9.4%
-$13,374
44.00-7.3%
-$6,136
45.00-5.2%
+$153,234
46.00-3.1%
+$96,807
47.00-1.0%
+$1.6M
48.001.1%
+$41,009
49.003.2%
+$217,305
50.005.3%
+$993,932
55.0015.9%
+$360,974
60.0026.4%
+$21,014
65.0036.9%
+$1,170
70.0047.5%
+$105
Positive call-side proxy Negative put-side proxyHighlighted row is nearest spot strike

Scenario proxy = gamma × open interest × 100 shares × spot² × 1%. Calls are positive and puts negative by convention. Missing Greeks use a Black-Scholes estimate from stored IV with zero rate and dividend assumptions. Open interest does not reveal who is long or short, so this is not observed dealer positioning or a forecast.

Volatility Curve

Front-loaded volatility

1.23× front/back

Near-term options are materially richer than later expirations, consistent with concentrated event or immediate-risk pricing.

0.28 21 Aug 9d
0.14 18 Sep 37d
0.18 16 Oct 65d
0.21 18 Dec 128d
0.20 15 Jan 156d
0.20 19 Mar 219d
0.23 17 Jun 309d
0.22 21 Jan 527d

Volatility by Strike

Balanced wings

Nearest expiry, within 20% of spot

Comparable upside calls and downside puts carry broadly similar implied volatility.

40
41
42
43
44
45
46
47
48
49
50
55
Put IV Call IV

Historical Replay

How matured reads behaved through expiry

0 matured · 0 directional

Forward validation is building. The earliest eligible stored read expires 21 Aug 2026; its result will appear after the matched closing reference is stored.

Directional follow-through-
Moves contained by pricing-
Average expiry move-
Validation readiness
  • Auditable calculationoriginal version retained
  • Independent entryone read per market session
  • Point-in-time referencerequired at entry
  • Matched expiry closereported only after maturity

Eligible snapshots must have a dated market session, stored signal, and point-in-time market reference. Each observation uses one read per market session and the first stored weekly close on or immediately after expiry; its original calculation version is retained. It is an evidence audit, not an executable strategy or evidence of future performance.

Evidence Quality

Usable with limits

C69/100
Retained chain100%
Implied volatility100%
Two-sided quotes100%
Open interest100%
Chain status
Complete available chain
Market date
12 Aug 2026
Calculation
v2.0
Contracts
286 / 286
  • 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

Put-heavy activity

91/100
Primary intent Put-heavy activity

Put-side activity dominates. This can reflect hedging or directional positioning, but the chain alone cannot distinguish buying from selling.

Flow vs price divergence Bearish flow before price confirmation

Put-side pressure is present before a decisive weekly price breakdown.

Why this matters

Put-heavy activity matters because it connects the options headline to the actual evidence: $72,638 of estimated gross traded notional, puts · 91+ days · otm, and a bearish flow before price confirmation backdrop. Use it as a research priority signal, then validate the chart, liquidity, event calendar, and risk before acting.

Options pressure-67
1W price-0.8%
Call premium6%
Put premium94%
Notional split C 6% / P 94% Estimated gross traded notional uses volume × contract multiplier × midpoint, or last price when no valid midpoint is available.
Freshness 0.01 Volume divided by open interest across the visible chain.
Trend fit 72/100 Agreement between options pressure and Sharemaestro market context.
Aggregate chain data does not identify trade aggressor or opening versus closing activity; call/put concentration is not proof of market direction.
Conviction clusters Puts · 91+ days · OTM
Puts · 91+ days · OTM puts cluster with 199 contracts traded, $32,020 estimated gross traded notional, and 44% of visible notional.
$32,020
Puts · 91+ days · ITM puts cluster with 30 contracts traded, $24,600 estimated gross traded notional, and 34% of visible notional.
$24,600
Puts · 91+ days · ATM puts cluster with 51 contracts traded, $11,475 estimated gross traded notional, and 16% of visible notional.
$11,475
Calls · 91+ days · ITM calls cluster with 4 contracts traded, $1,775 estimated gross traded notional, and 2% of visible notional.
$1,775
Calls · 22-45 days · OTM calls cluster with 34 contracts traded, $1,020 estimated gross traded notional, and 1% of visible notional.
$1,020

Setup Classification

Opportunity and risk frame

Context, not advice
Positive Options-confirmed trend

Positioning agrees with the Sharemaestro trend backdrop.

Activity Anomaly

Normal range

48

Activity is broadly in line with recent stored snapshots.

Baseline: 11 completed sessions

Volume rank27th
Volume/OI rank27th
IV rank91th

Market Context

Underlying confirmation

Sharemaestro weekly
Close47.47
1W-0.8%
RS-8.6
Fair value+19.0%
Options pressure-67
Speculation39
Volatility30
Trend fit72

Today Versus Normal

Stored-options context

View history
Expected move 2.6% muted
30d avg 4.1% · 11 sessions 0th
90d avg - · 11/30 sessions -
180d avg - · 11/60 sessions -
IV 0.28 elevated
30d avg 0.21 · 11 sessions 91th
90d avg - · 11/30 sessions -
180d avg - · 11/60 sessions -
Put-call 5.92 elevated
30d avg 1.10 · 11 sessions 100th
90d avg - · 11/30 sessions -
180d avg - · 11/60 sessions -
Volume/OI 0.01 near normal
30d avg 0.02 · 11 sessions 27th
90d avg - · 11/30 sessions -
180d avg - · 11/60 sessions -

Pressure Trail

Recent pressure and volatility

Open trail
29 Jul 10:15 Mixed
Pressure -12
Move 4.4%
30 Jul 10:11 Mixed
Pressure 1
Move 5.1%
31 Jul 10:05 Bullish
Pressure 25
Move 4.6%
31 Jul 13:58 Bearish
Pressure -48
Move 5.2%
31 Jul 18:32 Bearish
Pressure -38
Move 4.9%
1 Aug 01:29 Bullish
Pressure 42
Move 5.4%
2 Aug 12:06 Bullish
Pressure 42
Move 4.5%
3 Aug 23:56 Bearish
Pressure -32
Move 3.7%

Strike Map

Where activity is clustering

Full strike map
Strike40.00
Calls · V 0 · OI 0
Puts · V 0 · OI 51
Strike41.00
Calls · V 0 · OI 0
Puts · V 0 · OI 11
Strike42.00
Calls · V 0 · OI 0
Puts · V 0 · OI 16
Strike43.00
Calls · V 0 · OI 0
Puts · V 0 · OI 67
Strike44.00
Calls · V 0 · OI 0
Puts · V 0 · OI 71
Strike45.00
Calls · V 0 · OI 0
Puts · V 3 · OI 26
Strike46.00
Calls · V 0 · OI 318
Puts · V 4 · OI 114
Strike47.00
Calls · V 1 · OI 20
Puts · V 1 · OI 104

Term Structure

Expiration activity

Volume and IV
Expiry21 Aug 2026
Contracts32
Avg IV0.28
Put-call8.00
Expiry18 Sep 2026
Contracts46
Avg IV0.14
Put-call0.05
Expiry16 Oct 2026
Contracts36
Avg IV0.18
Put-call-
Expiry18 Dec 2026
Contracts32
Avg IV0.21
Put-call-
Expiry15 Jan 2027
Contracts50
Avg IV0.20
Put-call0.50

Skew

Call/put IV balance

OTM demand
21 Aug 2026Put IV premium
Call IV0.19
Put IV0.28
Skew0.09
18 Sep 2026Balanced skew
Call IV0.20
Put IV0.22
Skew0.02
16 Oct 2026Balanced skew
Call IV0.18
Put IV0.19
Skew0.01
18 Dec 2026Balanced skew
Call IV0.21
Put IV0.24
Skew0.03
15 Jan 2027Put IV premium
Call IV0.19
Put IV0.35
Skew0.16

Contract Tape

Most active contracts

Full contract tape
ContractFE261218P00045000
SidePut
Expiry18 Dec 2026
Strike45.00
Volume188
OI39
IV0.26
ContractFE261218P00047000
SidePut
Expiry18 Dec 2026
Strike47.00
Volume51
OI151
IV0.23
ContractFE260918C00050000
SideCall
Expiry18 Sep 2026
Strike50.00
Volume34
OI3710
IV0.20
ContractFE261218P00055000
SidePut
Expiry18 Dec 2026
Strike55.00
Volume30
OI1363
IV0.28
ContractFE270617P00025000
SidePut
Expiry17 Jun 2027
Strike25.00
Volume9
OI5
IV0.47
ContractFE260918C00047000
SideCall
Expiry18 Sep 2026
Strike47.00
Volume5
OI3091
IV0.19
ContractFE260821P00046000
SidePut
Expiry21 Aug 2026
Strike46.00
Volume4
OI114
IV0.28
ContractFE260821P00045000
SidePut
Expiry21 Aug 2026
Strike45.00
Volume3
OI26
IV0.14

Evidence context