Primary read
Bullish
Call-side pressure
Ticker Options Intelligence
FCN options intelligence
FTI Consulting Inc options pressure, expected move, strike concentration, and Sharemaestro trend context.
Conviction
45
Market data through 11 Aug 2026
Checked 11 Aug 2026 15:45 · complete available chain
Call-side pressure
Bullish pressure
FCN currently carries bullish options pressure with a 45/100 conviction score. The nearest-chain expected move is 11.5%, with volume/open-interest participation at 0.24.
Expected move
11.5%
Wider near-term move priced
Activity / OI
0.24
Current volume is quieter versus prior open interest
Put-call
0.14
Call-side skew
Trend fit
0
Options are not fully confirming trend
Weekly backdrop
-5.0%
RS -18.6
Expected move
11.5%
Put-call volume
0.14
Volume / OI
0.24
Reference IV
0.62
Max pain
170.00
Underlying
151.43
Nearest expiry
21 Aug 2026
Contracts
137
Research Brief
FCN has a bullish chain read with 45/100 evidence alignment.
The practical question is whether the underlying confirms the options concentration. The chain prices a reference range of 134.03–168.83; The largest call open-interest concentration is 200.00; the largest put concentration is 170.00. The most active strike by current volume is 130.00.
Priced range134.03–168.83
Call concentration200.00
Put concentration170.00
Max pain reference170.00
- Price holds or improves while call-side concentration remains elevated.
- Price weakens while call pressure fades or reverses toward puts.
- Options and the weekly trend are not yet giving the same message.
- 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
Options imply 134.03 to 168.83. Max pain at 170.00 lies outside the priced range, so it is a weak near-term anchor.
Spot
Max pain
134.03151.43 ± 17.40168.83
Confirmation level
A close beyond 168.83 or below 134.03 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 45/100
Pressure is 74/100 toward calls; conviction uses its strength, while the signal label carries its direction.
Directional pressure75 × 42%
+31.3
How strongly activity leans toward calls or puts.
Participation23 × 22%
+5.0
Volume relative to existing open interest and contract-level activity.
Trend agreement0 × 26%
+0.0
How closely the chain read agrees with the underlying trend backdrop.
Volatility84 × 10%
+8.4
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 200.00; the largest put concentration is 170.00. The most active strike by current volume is 130.00. Open-interest concentrations show where positions exist; they are not proven support, resistance or dealer exposure.
Put open interestStrikeCall open interest
1
120.00-20.8%
1
2
125.00-17.5%
0
4
130.00-14.2%
0
2
135.00-10.8%
0
8
140.00-7.5%
0
1
145.00-4.2%
0
1
150.00-0.9%
0
0
155.002.4%
3
2
160.005.7%
5
30
165.009.0%
1
40
170.0012.3%
22
1
175.0015.6%
1
0
180.0018.9%
4
0
185.0022.2%
33
0
190.0025.5%
24
0
195.0028.8%
1
0
200.0032.1%
71
Nearest spot strike Max pain strikeBars show relative OI within this expiry
Gamma Profile by Strike
Balanced gamma proxy
Call- and put-side gamma sensitivity is broadly balanced across the retained chain. Individual strike concentrations may still matter more than the chain-wide net.
Net profile-$5,867Delta change / 1% move
Positive peak180.00+$66,244
Negative peak125.00-$125,254
Nearest balance153.57Interpolated sign change
StrikeNegativePositiveNet / 1% move
100.00-34.0%
-$1,540
105.00-30.7%
-$2,229
110.00-27.4%
-$4,523
115.00-24.1%
-$4,198
120.00-20.8%
-$4,643
125.00-17.5%
-$125,254
130.00-14.2%
-$3,285
135.00-10.8%
-$4,654
140.00-7.5%
-$3,348
145.00-4.2%
-$737
150.00-0.9%
-$929
155.002.4%
+$372
160.005.7%
+$1,862
165.009.0%
-$13,227
170.0012.3%
+$27,514
175.0015.6%
+$14,930
180.0018.9%
+$66,244
185.0022.2%
+$7,369
190.0025.5%
+$5,537
195.0028.8%
+$1,883
200.0032.1%
+$23,365
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
Near-term options are materially richer than later expirations, consistent with concentrated event or immediate-risk pricing.
0.62
21 Aug
10d
0.51
18 Sep
38d
0.56
20 Nov
101d
0.27
18 Dec
129d
0.46
19 Mar
220d
Volatility by Strike
Upside optionality premium
Out-of-the-money calls carry higher implied volatility than comparable puts, indicating richer upside optionality.
125
130
135
140
145
150
155
160
165
170
175
180
Put IV Call IV
Historical Replay
How matured reads behaved through expiry
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
Retained chain100%
Implied volatility100%
Two-sided quotes100%
Open interest100%
- Chain status
- Complete available chain
- Market date
- 11 Aug 2026
- Calculation
- v2.0
- Contracts
- 137 / 137
- 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
Call activity against legacy put OI
Call activity is dominant while put open interest remains large but current put volume is not leading.
Options are leaning call-side while the stock is down on the week, a divergence that needs price confirmation.
Call activity against legacy put OI matters because it connects the options headline to the actual evidence: $331,608 of estimated gross traded notional, calls · 91+ days · otm, and a bullish flow against weak price backdrop. Use it as a research priority signal, then validate the chart, liquidity, event calendar, and risk before acting.
Options pressure+74
1W price-5.0%
Call premium84%
Put premium16%
Notional split
C 84% / P 16%
Estimated gross traded notional uses volume × contract multiplier × midpoint, or last price when no valid midpoint is available.
Freshness
0.24
Volume divided by open interest across the visible chain.
Trend fit
0/100
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.
Do not infer a hedge unwind without next-session open-interest changes and opening/closing data.
Calls · 91+ days · OTM
calls cluster with 263 contracts traded, $169,125 estimated gross traded notional, and 51% of visible notional.
$169,125
Calls · 22-45 days · OTM
calls cluster with 150 contracts traded, $46,365 estimated gross traded notional, and 14% of visible notional.
$46,365
Calls · 91+ days · ITM
calls cluster with 10 contracts traded, $37,980 estimated gross traded notional, and 11% of visible notional.
$37,980
Puts · 91+ days · ITM
puts cluster with 6 contracts traded, $27,175 estimated gross traded notional, and 8% of visible notional.
$27,175
Puts · 22-45 days · ITM
puts cluster with 4 contracts traded, $14,405 estimated gross traded notional, and 4% of visible notional.
$14,405
Setup Classification
Opportunity and risk frame
The tape is pricing or displaying unusually elevated activity.
Expected move or upcoming earnings makes the setup more event-sensitive.
Options positioning is not confirming the underlying trend context.
Activity Anomaly
Warming up
9 of 10 completed market sessions are available. More session history is needed before activity can be compared with a reliable normal.
Baseline: 9 completed sessions
Volume rank-
Volume/OI rank-
IV rank-
Market Context
Underlying confirmation
Close151.43
1W-5.0%
RS-18.6
Fair value-18.5%
Options pressure75
Speculation23
Volatility84
Trend fit0
Today Versus Normal
Stored-options context
30d avg - · 9/10 sessions
-
90d avg - · 9/30 sessions
-
180d avg - · 9/60 sessions
-
30d avg - · 9/10 sessions
-
90d avg - · 9/30 sessions
-
180d avg - · 9/60 sessions
-
30d avg - · 9/10 sessions
-
90d avg - · 9/30 sessions
-
180d avg - · 9/60 sessions
-
30d avg - · 9/10 sessions
-
90d avg - · 9/30 sessions
-
180d avg - · 9/60 sessions
-
Pressure Trail
Recent pressure and volatility
29 Jul 10:41
Volatility
Pressure 99
Move 10.8%
30 Jul 10:38
Bullish
Pressure 27
Move 11.3%
31 Jul 10:24
Bullish
Pressure 50
Move 7.7%
1 Aug 22:54
Bearish
Pressure -23
Move 6.8%
4 Aug 10:14
Bullish
Pressure 40
Move 7.1%
5 Aug 10:50
Bullish
Pressure 100
Move 6.8%
6 Aug 10:55
Bullish
Pressure 34
Move 7.2%
7 Aug 12:42
Bearish
Pressure -62
Move 7.8%
Strike Map
Where activity is clustering
Strike120.00
Calls · V 1 · OI 1
Puts · V 1 · OI 1
Strike125.00
Calls · V 0 · OI 0
Puts · V 1 · OI 2
Strike130.00
Calls · V 0 · OI 0
Puts · V 8 · OI 4
Strike135.00
Calls · V 0 · OI 0
Puts · V 1 · OI 2
Strike140.00
Calls · V 0 · OI 0
Puts · V 7 · OI 8
Strike145.00
Calls · V 0 · OI 0
Puts · V 1 · OI 1
Strike150.00
Calls · V 0 · OI 0
Puts · V 0 · OI 1
Strike155.00
Calls · V 1 · OI 3
Puts · V 0 · OI 0
Term Structure
Expiration activity
Expiry21 Aug 2026
Contracts22
Avg IV0.62
Put-call0.95
Expiry18 Sep 2026
Contracts36
Avg IV0.51
Put-call0.11
Expiry20 Nov 2026
Contracts30
Avg IV0.56
Put-call0.79
Expiry18 Dec 2026
Contracts37
Avg IV0.27
Put-call0.05
Expiry19 Mar 2027
Contracts12
Avg IV0.46
Put-call-
Skew
Call/put IV balance
21 Aug 2026Call IV premium
Call IV1.05
Put IV0.58
Skew-0.46
18 Sep 2026Balanced skew
Call IV0.45
Put IV0.46
Skew0.02
20 Nov 2026Call IV premium
Call IV0.57
Put IV0.46
Skew-0.11
18 Dec 2026Balanced skew
Call IV0.01
Put IV0.03
Skew0.02
19 Mar 2027Incomplete skew
Call IV-
Put IV0.41
Skew-
Contract Tape
Most active contracts
ContractFCN260821C00200000
SideCall
Expiry21 Aug 2026
Strike200.00
Volume-
OI71
IV1.35
ContractFCN260821P00170000
SidePut
Expiry21 Aug 2026
Strike170.00
Volume-
OI40
IV0.72
ContractFCN260821P00165000
SidePut
Expiry21 Aug 2026
Strike165.00
Volume-
OI30
IV0.66
ContractFCN261120C00160000
SideCall
Expiry20 Nov 2026
Strike160.00
Volume-
OI10
IV0.57
ContractFCN261120P00135000
SidePut
Expiry20 Nov 2026
Strike135.00
Volume-
OI8
IV0.46
ContractFCN261218P00135000
SidePut
Expiry18 Dec 2026
Strike135.00
Volume-
OI5
IV0.45
ContractFCN260918P00180000
SidePut
Expiry18 Sep 2026
Strike180.00
Volume-
OI2
IV0.34
ContractFCN260821P00160000
SidePut
Expiry21 Aug 2026
Strike160.00
Volume-
OI2
IV0.61
Research Graph
Related research and context
Sharemaestro research
Related News
No recent ticker-specific news yet.
Market Watch
No recent market-watch posts yet.
Earnings
No upcoming matched earnings event.
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.