Primary read
Bullish
Call-side pressure
Ticker Options Intelligence
FLR options intelligence
Fluor Corporation options pressure, expected move, strike concentration, and Sharemaestro trend context.
Conviction
53
Market data through 17 Sep 2026
Checked 18 Sep 2026 09:04 · complete available chain
Call-side pressure
Bullish pressure
FLR currently carries bullish options pressure with a 53/100 conviction score. The nearest-chain expected move is 3.5%, with volume/open-interest participation at 0.02.
Expected move
3.5%
Near-term move context
Activity / OI
0.02
Current volume is quieter versus prior open interest
Put-call
0.10
Call-side skew
Trend fit
5
Options are not fully confirming trend
Weekly backdrop
-3.5%
RS 5.1
Expected move
3.5%
Put-call volume
0.10
Volume / OI
0.02
Reference IV
0.63
Max pain
52.50
Underlying
54.20
Nearest expiry
18 Sep 2026
Contracts
406
Research Brief
FLR has a bullish chain read with 53/100 evidence alignment.
The practical question is whether the underlying confirms the options concentration. The chain prices a reference range of 52.33–56.07; The largest call open-interest concentration is 65.00; the largest put concentration is 45.00. The most active strike by current volume is 57.50.
Priced range52.33–56.07
Call concentration65.00
Put concentration45.00
Max pain reference52.50
- 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 52.33 to 56.07. Max pain at 52.50 sits inside that range, 3.1% below spot.
Spot
Max pain
52.3354.20 ± 1.8756.07
Confirmation level
A close beyond 56.07 or below 52.33 at the 18 Sep 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 53/100
Pressure is 88/100 toward calls; conviction uses its strength, while the signal label carries its direction.
Directional pressure88 × 42%
+36.9
How strongly activity leans toward calls or puts.
Participation40 × 22%
+8.9
Volume relative to existing open interest and contract-level activity.
Trend agreement5 × 26%
+1.3
How closely the chain read agrees with the underlying trend backdrop.
Volatility58 × 10%
+5.8
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 65.00; the largest put concentration is 45.00. The most active strike by current volume is 57.50. Open-interest concentrations show where positions exist; they are not proven support, resistance or dealer exposure.
Put open interestStrikeCall open interest
85
25.00-53.9%
2
1295
32.50-40.0%
0
133
35.00-35.4%
106
1684
37.50-30.8%
53
1130
40.00-26.2%
59
401
42.50-21.6%
453
2970
45.00-17.0%
413
1709
47.50-12.4%
664
728
50.00-7.7%
696
1376
52.50-3.1%
1644
1440
55.001.5%
4553
736
57.506.1%
2853
0
60.0010.7%
10406
0
62.5015.3%
315
0
65.0019.9%
11974
0
70.0029.2%
184
0
75.0038.4%
78
Nearest spot strike Max pain strikeBars show relative OI within this expiry
Gamma Profile by Strike
Positive gamma proxy
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+$8.1MDelta change / 1% move
Positive peak55.00+$5.5M
Negative peak42.50-$214,589
Nearest balance48.17Interpolated sign change
StrikeNegativePositiveNet / 1% move
25.00-53.9%
-$11,668
27.50-49.3%
+$688
30.00-44.6%
-$3,142
32.50-40.0%
-$4,575
35.00-35.4%
-$19,309
37.50-30.8%
-$16,896
40.00-26.2%
-$46,819
42.50-21.6%
-$214,589
45.00-17.0%
-$69,855
47.50-12.4%
-$32,082
50.00-7.7%
+$88,323
52.50-3.1%
+$454,084
55.001.5%
+$5.5M
57.506.1%
+$261,693
60.0010.7%
+$1.0M
62.5015.3%
+$66,704
65.0019.9%
+$715,598
67.5024.5%
+$127,208
70.0029.2%
+$144,184
75.0038.4%
+$75,631
80.0047.6%
+$16,296
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.
0.63
18 Sep
1d
0.44
16 Oct
29d
0.53
20 Nov
64d
0.51
18 Dec
92d
0.49
15 Jan
120d
0.50
16 Apr
211d
0.50
17 Dec
456d
0.48
21 Jan
491d
Volatility by Strike
Downside protection premium
Out-of-the-money puts carry higher implied volatility than comparable calls, indicating richer downside protection.
45
48
50
53
55
58
60
63
65
Put IV Call IV
Historical Replay
How matured reads behaved through expiry
Across 3 stored directional transitions, the next stored price moved in the labelled direction 0% of the time.
Directional follow-through0%
Moves contained by pricing90%
Average expiry move5.1%
14 Aug
Bearish · 42
0.1% through expiry
5.0% priced · v2.0
13 Aug
Volatility · 53
-8.0% through expiry
10.4% priced · v2.0
12 Aug
Bullish · 51
-8.0% through expiry
10.1% priced · v2.0
10 Aug
Volatility · 46
-8.0% through expiry
10.5% priced · v2.0
7 Aug
Bullish · 48
-8.0% through expiry
8.0% priced · v2.0
5 Aug
Volatility · 51
4.5% through expiry
13.7% priced · v2.0
4 Aug
Mixed · 37
4.5% through expiry
13.8% priced · v2.0
3 Aug
Mixed · 39
4.5% through expiry
13.4% priced · v2.0
31 Jul
Volatility · 46
4.5% through expiry
13.1% priced · v2.0
30 Jul
Volatility · 46
0.4% through expiry
13.8% priced · v2.0
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
- 17 Sep 2026
- Calculation
- v2.0
- Contracts
- 406 / 406
- 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
Short-dated OTM call concentration
Call activity is concentrated in upside and shorter-dated contracts; trade direction remains unconfirmed without aggressor data.
Options are leaning call-side while the stock is down on the week, a divergence that needs price confirmation.
Short-dated OTM call concentration matters because it connects the options headline to the actual evidence: $283,498 of estimated gross traded notional, calls · 22-45 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+88
1W price-3.5%
Call premium83%
Put premium17%
Notional split
C 83% / P 17%
Estimated gross traded notional uses volume × contract multiplier × midpoint, or last price when no valid midpoint is available.
Freshness
0.02
Volume divided by open interest across the visible chain.
Trend fit
5/100
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.
Calls · 22-45 days · OTM
calls cluster with 896 contracts traded, $92,510 estimated gross traded notional, and 33% of visible notional.
$92,510
Calls · 22-45 days · ATM
calls cluster with 140 contracts traded, $39,200 estimated gross traded notional, and 14% of visible notional.
$39,200
Puts · 91+ days · ATM
puts cluster with 54 contracts traded, $31,860 estimated gross traded notional, and 11% of visible notional.
$31,860
Calls · 91+ days · ITM
calls cluster with 21 contracts traded, $23,350 estimated gross traded notional, and 8% of visible notional.
$23,350
Calls · 91+ days · ATM
calls cluster with 29 contracts traded, $16,435 estimated gross traded notional, and 6% of visible notional.
$16,435
Setup Classification
Opportunity and risk frame
The tape is pricing or displaying unusually elevated activity.
Options positioning is not confirming the underlying trend context.
Call pressure is building while the stock sits above Sharemaestro fair value.
Activity Anomaly
Normal range
Activity is broadly in line with recent stored snapshots.
Baseline: 21 completed sessions
Volume rank48th
Volume/OI rank43th
IV rank62th
Market Context
Underlying confirmation
Close54.20
1W-3.5%
RS5.1
Fair value+21.3%
Options pressure88
Speculation40
Volatility58
Trend fit5
Today Versus Normal
Stored-options context
30d avg - · 9/10 sessions
-
90d avg - · 21/30 sessions
-
180d avg - · 21/60 sessions
-
30d avg - · 9/10 sessions
-
90d avg - · 21/30 sessions
-
180d avg - · 21/60 sessions
-
30d avg - · 9/10 sessions
-
90d avg - · 21/30 sessions
-
180d avg - · 21/60 sessions
-
30d avg - · 9/10 sessions
-
90d avg - · 21/30 sessions
-
180d avg - · 21/60 sessions
-
Pressure Trail
Recent pressure and volatility
29 Jul 10:35
Volatility
Pressure -8
Move 14.5%
30 Jul 06:09
Volatility
Pressure 51
Move 15.4%
30 Jul 15:30
Bearish
Pressure -24
Move 14.2%
30 Jul 15:47
Bearish
Pressure -23
Move 14.2%
30 Jul 19:57
Bearish
Pressure -24
Move 13.7%
31 Jul 13:03
Volatility
Pressure 62
Move 13.8%
31 Jul 14:00
Bearish
Pressure -21
Move 13.7%
31 Jul 14:41
Volatility
Pressure -43
Move 13.4%
Strike Map
Where activity is clustering
Strike22.50
Calls · V 0 · OI 0
Puts · V 0 · OI 5
Strike25.00
Calls · V 0 · OI 2
Puts · V 0 · OI 85
Strike27.50
Calls · V 0 · OI 21
Puts · V 0 · OI 20
Strike30.00
Calls · V 0 · OI 47
Puts · V 0 · OI 16
Strike32.50
Calls · V 0 · OI 0
Puts · V 0 · OI 1295
Strike35.00
Calls · V 0 · OI 106
Puts · V 0 · OI 133
Strike37.50
Calls · V 0 · OI 53
Puts · V 0 · OI 1684
Strike40.00
Calls · V 0 · OI 59
Puts · V 0 · OI 1130
Term Structure
Expiration activity
Expiry18 Sep 2026
Contracts42
Avg IV0.63
Put-call0.07
Expiry16 Oct 2026
Contracts42
Avg IV0.44
Put-call0.07
Expiry20 Nov 2026
Contracts34
Avg IV0.53
Put-call-
Expiry18 Dec 2026
Contracts40
Avg IV0.51
Put-call0.04
Expiry15 Jan 2027
Contracts50
Avg IV0.49
Put-call2.03
Skew
Call/put IV balance
18 Sep 2026Balanced skew
Call IV0.42
Put IV0.43
Skew0.01
16 Oct 2026Balanced skew
Call IV0.44
Put IV0.46
Skew0.02
20 Nov 2026Put IV premium
Call IV0.49
Put IV0.56
Skew0.07
18 Dec 2026Balanced skew
Call IV0.50
Put IV0.53
Skew0.03
15 Jan 2027Balanced skew
Call IV0.45
Put IV0.49
Skew0.04
Contract Tape
Most active contracts
ContractFLR261016C00060000
SideCall
Expiry16 Oct 2026
Strike60.00
Volume782
OI988
IV0.44
ContractFLR260918C00057500
SideCall
Expiry18 Sep 2026
Strike57.50
Volume414
OI2853
IV0.42
ContractFLR260918C00055000
SideCall
Expiry18 Sep 2026
Strike55.00
Volume290
OI4553
IV0.43
ContractFLR261016C00055000
SideCall
Expiry16 Oct 2026
Strike55.00
Volume140
OI7114
IV0.44
ContractFLR270115P00055000
SidePut
Expiry15 Jan 2027
Strike55.00
Volume54
OI225
IV0.49
ContractFLR261016C00065000
SideCall
Expiry16 Oct 2026
Strike65.00
Volume50
OI426
IV0.43
ContractFLR260918P00050000
SidePut
Expiry18 Sep 2026
Strike50.00
Volume40
OI728
IV0.81
ContractFLR261016C00062500
SideCall
Expiry16 Oct 2026
Strike62.50
Volume37
OI286
IV0.44
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.