Primary read
Bullish
Call-side pressure
Ticker Options Intelligence
FSLR options intelligence
First Solar Inc options pressure, expected move, strike concentration, and Sharemaestro trend context.
Conviction
42
Market data through 4 Aug 2026
Checked 5 Aug 2026 00:42 · complete available chain
Call-side pressure
Bullish pressure
FSLR currently carries bullish options pressure with a 42/100 conviction score. The nearest-chain expected move is 16.6%, with volume/open-interest participation at 0.09.
Expected move
16.6%
Wider near-term move priced
Activity / OI
0.09
Current volume is quieter versus prior open interest
Put-call
0.42
Call-side skew
Trend fit
14
Options are not fully confirming trend
Weekly backdrop
+4.0%
RS -15.6
Expected move
16.6%
Put-call volume
0.42
Volume / OI
0.09
Reference IV
0.99
Max pain
210.00
Underlying
211.03
Nearest expiry
7 Aug 2026
Contracts
1155
Research Brief
FSLR has a bullish chain read with 42/100 evidence alignment.
The practical question is whether the underlying confirms the options concentration. The chain prices a reference range of 176.04–246.02; The largest call open-interest concentration is 210.00; the largest put concentration is 200.00. The most active strike by current volume is 245.00.
Priced range176.04–246.02
Call concentration210.00
Put concentration200.00
Max pain reference210.00
- 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 176.04 to 246.02. Max pain at 210.00 sits inside that range, 0.5% below spot.
Spot
Max pain
176.04211.03 ± 34.99246.02
Confirmation level
A close beyond 246.02 or below 176.04 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 42/100
Pressure is 46/100 toward calls; conviction uses its strength, while the signal label carries its direction.
Directional pressure46 × 42%
+19.4
How strongly activity leans toward calls or puts.
Participation42 × 22%
+9.2
Volume relative to existing open interest and contract-level activity.
Trend agreement14 × 26%
+3.7
How closely the chain read agrees with the underlying trend backdrop.
Volatility96 × 10%
+9.6
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 210.00; the largest put concentration is 200.00. The most active strike by current volume is 245.00. Open-interest concentrations show where positions exist; they are not proven support, resistance or dealer exposure.
Put open interestStrikeCall open interest
170
190.00-10.0%
11
153
195.00-7.6%
6
1386
200.00-5.2%
75
77
205.00-2.9%
71
235
207.50-1.7%
14
89
210.00-0.5%
683
80
220.004.3%
254
61
230.009.0%
258
64
235.0011.4%
94
20
240.0013.7%
369
0
245.0016.1%
65
4
250.0018.5%
370
9
255.0020.8%
37
18
260.0023.2%
144
4
270.0027.9%
83
0
280.0032.7%
84
0
300.0042.2%
221
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+$17.4MDelta change / 1% move
Positive peak410.00+$5.9M
Negative peak180.00-$4.7M
Nearest balance211.60Interpolated sign change
StrikeNegativePositiveNet / 1% move
185.00-12.3%
-$1.4M
187.50-11.2%
-$15,555
190.00-10.0%
-$2.4M
192.50-8.8%
-$141,666
195.00-7.6%
-$1.3M
197.50-6.4%
-$132,325
200.00-5.2%
-$2.2M
202.50-4.0%
-$81,452
205.00-2.9%
-$78,767
207.50-1.7%
-$222,505
210.00-0.5%
-$418,666
212.500.7%
+$236,266
215.001.9%
+$64,123
217.503.1%
-$4,315
220.004.3%
+$452,116
222.505.4%
+$36,962
225.006.6%
+$100,357
227.507.8%
+$15,851
230.009.0%
+$1.6M
232.5010.2%
+$16,301
235.0011.4%
+$165,327
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.
0.99
7 Aug
3d
0.91
14 Aug
10d
0.89
21 Aug
17d
0.84
28 Aug
24d
0.82
4 Sep
31d
0.77
11 Sep
38d
0.76
18 Sep
45d
0.72
16 Oct
73d
Volatility by Strike
Downside protection premium
Out-of-the-money puts carry higher implied volatility than comparable calls, indicating richer downside protection.
170
178
180
185
188
193
195
200
203
208
213
215
220
223
228
230
235
238
245
248
253
Put IV Call IV
Historical Replay
How matured reads behaved through expiry
Across 1 stored directional transitions, the next stored price moved in the labelled direction 100% of the time.
Directional follow-through100%
Moves contained by pricing100%
Average expiry move4.0%
30 Jul
Bullish · 39
4.0% through expiry
7.4% 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
High
Retained chain100%
Implied volatility100%
Two-sided quotes100%
Open interest100%
- Chain status
- Complete available chain
- Market date
- 4 Aug 2026
- Calculation
- v2.0
- Contracts
- 1155 / 1155
- 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 pressure and weekly price action are pointing in the same constructive direction.
Short-dated OTM call concentration matters because it connects the options headline to the actual evidence: $125.0M of estimated gross traded notional, calls · 91+ days · otm, and a bullish flow confirms price backdrop. Use it as a research priority signal, then validate the chart, liquidity, event calendar, and risk before acting.
Options pressure+46
1W price+4.0%
Call premium80%
Put premium20%
Notional split
C 80% / P 20%
Estimated gross traded notional uses volume × contract multiplier × midpoint, or last price when no valid midpoint is available.
Freshness
0.09
Volume divided by open interest across the visible chain.
Trend fit
14/100
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 · 91+ days · OTM
calls cluster with 15323 contracts traded, $67.4M estimated gross traded notional, and 54% of visible notional.
$67.4M
Puts · 91+ days · ITM
puts cluster with 1226 contracts traded, $12.7M estimated gross traded notional, and 10% of visible notional.
$12.7M
Calls · 8-21 days · OTM
calls cluster with 7279 contracts traded, $8.5M estimated gross traded notional, and 7% of visible notional.
$8.5M
Calls · 22-45 days · OTM
calls cluster with 4595 contracts traded, $6.8M estimated gross traded notional, and 5% of visible notional.
$6.8M
Calls · 91+ days · ITM
calls cluster with 466 contracts traded, $5.9M estimated gross traded notional, and 5% of visible notional.
$5.9M
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.
Underlying price is close to the max-pain zone.
Activity Anomaly
Warming up
5 of 10 completed market sessions are available. More session history is needed before activity can be compared with a reliable normal.
Baseline: 5 completed sessions
Volume rank-
Volume/OI rank-
IV rank-
Market Context
Underlying confirmation
Close211.03
1W+4.0%
RS-15.6
Fair value+7.5%
Options pressure46
Speculation42
Volatility96
Trend fit14
Today Versus Normal
Stored-options context
30d avg - · 5/10 sessions
-
90d avg - · 5/30 sessions
-
180d avg - · 5/60 sessions
-
30d avg - · 5/10 sessions
-
90d avg - · 5/30 sessions
-
180d avg - · 5/60 sessions
-
30d avg - · 5/10 sessions
-
90d avg - · 5/30 sessions
-
180d avg - · 5/60 sessions
-
30d avg - · 5/10 sessions
-
90d avg - · 5/30 sessions
-
180d avg - · 5/60 sessions
-
Pressure Trail
Recent pressure and volatility
29 Jul 10:14
Mixed
Pressure -15
Move 9.8%
30 Jul 10:10
Bullish
Pressure 53
Move 8.7%
31 Jul 10:04
Bullish
Pressure 33
Move 7.4%
31 Jul 20:24
Bullish
Pressure 54
Move 4.3%
3 Aug 04:50
Bullish
Pressure 67
Move 7.6%
3 Aug 14:56
Bullish
Pressure 50
Move 16.1%
4 Aug 23:42
Bullish
Pressure 46
Move 16.6%
Strike Map
Where activity is clustering
Strike140.00
Calls · V 0 · OI 0
Puts · V 2 · OI 3
Strike150.00
Calls · V 1 · OI 1
Puts · V 7 · OI 12
Strike155.00
Calls · V 3 · OI 2
Puts · V 1 · OI 29
Strike160.00
Calls · V 4 · OI 6
Puts · V 1 · OI 60
Strike165.00
Calls · V 5 · OI 14
Puts · V 10 · OI 69
Strike167.50
Calls · V 0 · OI 0
Puts · V 0 · OI 1
Strike170.00
Calls · V 1 · OI 75
Puts · V 6 · OI 37
Strike175.00
Calls · V 0 · OI 29
Puts · V 4 · OI 87
Term Structure
Expiration activity
Expiry7 Aug 2026
Contracts109
Avg IV0.99
Put-call0.31
Expiry14 Aug 2026
Contracts92
Avg IV0.91
Put-call0.31
Expiry21 Aug 2026
Contracts113
Avg IV0.89
Put-call0.72
Expiry28 Aug 2026
Contracts73
Avg IV0.84
Put-call0.60
Expiry4 Sep 2026
Contracts55
Avg IV0.82
Put-call0.61
Skew
Call/put IV balance
7 Aug 2026Balanced skew
Call IV1.00
Put IV1.04
Skew0.05
14 Aug 2026Call IV premium
Call IV0.95
Put IV0.88
Skew-0.07
21 Aug 2026Balanced skew
Call IV0.91
Put IV0.90
Skew-0.02
28 Aug 2026Call IV premium
Call IV0.86
Put IV0.80
Skew-0.06
4 Sep 2026Call IV premium
Call IV0.84
Put IV0.78
Skew-0.06
Contract Tape
Most active contracts
ContractFSLR260807C00175000
SideCall
Expiry7 Aug 2026
Strike175.00
Volume-
OI29
IV1.66
ContractFSLR280616C00430000
SideCall
Expiry16 Jun 2028
Strike430.00
Volume-
OI23
IV0.63
ContractFSLR270319P00120000
SidePut
Expiry19 Mar 2027
Strike120.00
Volume-
OI21
IV0.67
ContractFSLR260814C00355000
SideCall
Expiry14 Aug 2026
Strike355.00
Volume-
OI20
IV1.29
ContractFSLR260814C00202500
SideCall
Expiry14 Aug 2026
Strike202.50
Volume-
OI17
IV0.93
ContractFSLR280616C00420000
SideCall
Expiry16 Jun 2028
Strike420.00
Volume-
OI13
IV0.62
ContractFSLR260911C00270000
SideCall
Expiry11 Sep 2026
Strike270.00
Volume-
OI10
IV0.81
ContractFSLR260828C00185000
SideCall
Expiry28 Aug 2026
Strike185.00
Volume-
OI7
IV0.88
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.