Primary read
Mixed
Options-market disagreement
Ticker Options Intelligence
FRHC options intelligence
Freedom Holding Corp options pressure, expected move, strike concentration, and Sharemaestro trend context.
Conviction
39
Market data through 31 Jul 2026
Checked 1 Aug 2026 06:40 · complete available chain
Options-market disagreement
Mixed pressure
FRHC currently carries mixed options pressure with a 39/100 conviction score. The nearest-chain expected move is 11.6%, with volume/open-interest participation at 0.00.
Expected move
11.6%
Wider near-term move priced
Activity / OI
0.00
Current volume is quieter versus prior open interest
Put-call
-
Balanced tape
Trend fit
99
Options agree with trend context
Weekly backdrop
+0.2%
RS -5.4
Expected move
11.6%
Put-call volume
-
Volume / OI
-
Reference IV
0.60
Max pain
150.00
Underlying
151.02
Nearest expiry
21 Aug 2026
Contracts
236
Research Brief
FRHC has a mixed chain read with 39/100 evidence alignment.
The practical question is whether the underlying confirms the options concentration. The chain prices a reference range of 133.57–168.47; The largest call open-interest concentration is 160.00; the largest put concentration is 80.00. The most active strike by current volume is 80.00.
Priced range133.57–168.47
Call concentration160.00
Put concentration80.00
Max pain reference150.00
- 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.
- 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 133.57 to 168.47. Max pain at 150.00 sits inside that range, 0.7% below spot.
Spot
Max pain
133.57151.02 ± 17.45168.47
Confirmation level
A close beyond 168.47 or below 133.57 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 39/100
Pressure is 11/100 toward puts; conviction uses its strength, while the signal label carries its direction.
Directional pressure11 × 42%
+4.8
How strongly activity leans toward calls or puts.
Participation0 × 22%
+0.0
Volume relative to existing open interest and contract-level activity.
Trend agreement99 × 26%
+25.8
How closely the chain read agrees with the underlying trend backdrop.
Volatility82 × 10%
+8.2
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 160.00; the largest put concentration is 80.00. The most active strike by current volume is 80.00. Open-interest concentrations show where positions exist; they are not proven support, resistance or dealer exposure.
Put open interestStrikeCall open interest
259
80.00-47.0%
0
20
90.00-40.4%
0
24
105.00-30.5%
0
4
120.00-20.5%
1
53
130.00-13.9%
2
7
135.00-10.6%
0
50
140.00-7.3%
0
102
145.00-4.0%
10
100
150.00-0.7%
90
21
155.002.6%
151
4
160.005.9%
185
2
165.009.3%
10
2
170.0012.6%
66
1
175.0015.9%
17
1
180.0019.2%
78
2
185.0022.5%
13
2
190.0025.8%
50
Nearest spot strike Max pain strikeBars show relative OI within this expiry
Volatility Curve
Front-loaded volatility
Near-term options are materially richer than later expirations, consistent with concentrated event or immediate-risk pricing.
0.60
21 Aug
21d
0.57
18 Sep
49d
0.53
18 Dec
140d
0.51
19 Mar
231d
Volatility by Strike
Downside protection premium
Out-of-the-money puts carry higher implied volatility than comparable calls, indicating richer downside protection.
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
- 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
- 236 / 236
- 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
Likely noise
Visible options activity is too thin or mixed to support a strong intent classification.
The options read is mixed, so divergence is not strong enough to classify.
Likely noise matters because it connects the options headline to the actual evidence: $0 of estimated gross traded notional, no dominant cluster, and a no clean flow/price divergence backdrop. Use it as a research priority signal, then validate the chart, liquidity, event calendar, and risk before acting.
Options pressure-11
1W price+0.2%
Call premium0%
Put premium0%
Notional split
C 0% / P 0%
Estimated gross traded notional uses volume × contract multiplier × midpoint, or last price when no valid midpoint is available.
Freshness
0.00
Volume divided by open interest across the visible chain.
Trend fit
99/100
Agreement between options pressure and Sharemaestro market context.
Event window
14 Aug
Matched earnings event is 12 days away.
Aggregate chain data does not identify trade aggressor or opening versus closing activity; call/put concentration is not proof of market direction.
No high-conviction option cluster is visible in this snapshot.
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.
Underlying price is close to the max-pain zone.
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
Close151.27
1W+0.2%
RS-5.4
Fair value+27.6%
Options pressure-11
Speculation0
Volatility82
Trend fit99
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 10:30
Volatility
Pressure 53
Move 12.0%
30 Jul 10:25
Volatility
Pressure -48
Move 11.3%
31 Jul 10:20
Volatility
Pressure -91
Move 11.6%
1 Aug 05:40
Mixed
Pressure -11
Move 11.6%
Strike Map
Where activity is clustering
Strike80.00
Calls · V 0 · OI 0
Puts · V 0 · OI 259
Strike85.00
Calls · V 0 · OI 0
Puts · V 0 · OI 2
Strike90.00
Calls · V 0 · OI 0
Puts · V 0 · OI 20
Strike95.00
Calls · V 0 · OI 0
Puts · V 0 · OI 0
Strike100.00
Calls · V 0 · OI 0
Puts · V 0 · OI 0
Strike105.00
Calls · V 0 · OI 0
Puts · V 0 · OI 24
Strike110.00
Calls · V 0 · OI 0
Puts · V 0 · OI 4
Strike115.00
Calls · V 0 · OI 0
Puts · V 0 · OI 2
Term Structure
Expiration activity
Expiry21 Aug 2026
Contracts50
Avg IV0.60
Put-call-
Expiry18 Sep 2026
Contracts66
Avg IV0.57
Put-call-
Expiry18 Dec 2026
Contracts64
Avg IV0.53
Put-call-
Expiry19 Mar 2027
Contracts56
Avg IV0.51
Put-call-
Skew
Call/put IV balance
21 Aug 2026Put IV premium
Call IV0.52
Put IV0.65
Skew0.13
18 Sep 2026Put IV premium
Call IV0.50
Put IV0.62
Skew0.12
18 Dec 2026Put IV premium
Call IV0.45
Put IV0.63
Skew0.18
19 Mar 2027Put IV premium
Call IV0.43
Put IV0.62
Skew0.19
Contract Tape
Most active contracts
ContractFRHC260918P00125000
SidePut
Expiry18 Sep 2026
Strike125.00
Volume-
OI1440
IV0.68
ContractFRHC261218P00120000
SidePut
Expiry18 Dec 2026
Strike120.00
Volume-
OI1107
IV0.64
ContractFRHC260821P00080000
SidePut
Expiry21 Aug 2026
Strike80.00
Volume-
OI259
IV1.59
ContractFRHC261218C00125000
SideCall
Expiry18 Dec 2026
Strike125.00
Volume-
OI242
IV0.45
ContractFRHC261218C00140000
SideCall
Expiry18 Dec 2026
Strike140.00
Volume-
OI232
IV0.46
ContractFRHC261218C00130000
SideCall
Expiry18 Dec 2026
Strike130.00
Volume-
OI187
IV0.46
ContractFRHC260821C00160000
SideCall
Expiry21 Aug 2026
Strike160.00
Volume-
OI185
IV0.55
ContractFRHC260821C00155000
SideCall
Expiry21 Aug 2026
Strike155.00
Volume-
OI151
IV0.57
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
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.