FIGR
Figure Technology Solutions, InClose $36.40EOD onlyThis page reflects FIGR options positioning from the latest published market-close snapshot. Intraday price and contract changes are not displayed.
Historical consensus-supported lens with full content, report chain context, and metric rail.
You are viewing an older report from March 30, 2026. A newer flow report is available for April 7, 2026.
View latest reportFlow Verdict
Watch next session: Defense of the $30 put wall (5,676 OI) and the ~$30 gamma flip level; Any significant call buying that challenges the $32-$34 resistance zone, particularly at the $32 strike
Flow Summary
Net premium: -$1.1M bearish
P/C volume ratio: 0.52 — call-dominant volume, but premium tells opposite story
P/C OI ratio: 0.54 — moderate put lean in positioning
Notable Prints
Read-through: Given the overwhelmingly bearish premium flow and high IV regime, this is more likely a short call sale (credit) as part of a bearish structure (e.g., call credit spread) or a covered call write. The size is meaningful but not enough to offset the institutional put flow.
Read-through: This is a repeat of the prior day's top print. The consistency suggests this is likely a roll or adjustment to an existing position (e.g., rolling a short call forward in time), not a new directional bet. It reinforces the overhead resistance narrative.
Read-through: Strike is slightly below spot, making it a cheap bullish bet if bought. However, the lower IV (89.0%) relative to other strikes and the bearish context suggest this could be sold, possibly as a leg to finance the massive OTM put purchases seen in the premium flow data.
Institutional Positioning
Call additions: Minor, low-premium activity at $30 and $32. The $30 call shows the largest net positive premium ($329K), likely serving as a gamma hedge for market makers against the massive $30 put wall. Other call activity is negligible.
Put additions: Unchanged and dominant: Massive premium spent on OTM puts at $40 (-$362K net), $36 (-$259K), $75 (-$236K), $65 (-$173K), and $80 (-$131K). This is a carbon copy of prior days—institutional hedging or outright bearish positioning on a scale that dwarfs all call activity.
GEX/DEX consistency: Yes — Strongly aligned. Positive but small GEX (+$0.9M) indicates a pinning/mean-reverting regime near current spot. Dealers are long gamma here and will dampen moves, but the dominant dollar flow remains bearish, suggesting any rally will be sold into.
OI clusters: Major put walls remain at $30 (5,676 OI) and $40 (3,937 OI). The $30 wall is critical support. Call OI is dispersed, with the largest cluster at the deep OTM $40 call (9,660 OI), which is likely legacy or speculative lottery tickets, not fresh bullish bets.
Hedging evidence: Overwhelming and unchanged. The size and strike selection ($40, $75, $80) of the put purchases are textbook tail-risk or portfolio protection. The consistency day-over-day confirms this is a deliberate, sustained positioning shift, not a one-off event.
Max pain context: Spot ($31.43) remains ~4.8% below the near-term max pain ($33 for 3/27). This creates a mild gravitational pull higher, but it is being robustly resisted by the put-heavy OI and bearish dollar flow. The max pain trend is falling, aligning with the bearish flow.
Signal vs Noise
Key Conclusions
Each report translates the same market-close options snapshot into a specific lens such as directional bias, premium-selling posture, flow quality, or earnings setup.
Reports are most useful for narrowing the playbook, surfacing entry and risk context, and deciding which raw data page to inspect next.
These are interpretation layers, not execution guarantees. Validate the setup against chain liquidity, expected move, and exposure before sizing risk.