ThetaOwl

FNKO Flow Report

Analysis based on market close March 26, 2026

DirectionalTheta GangFlowEarnings

Flow Verdict

BiasNeutral/No Signal
Confirmation: N/A — Market is illiquid. A signal would require sustained volume >10K and OI >1K to establish a baseline.
Invalidation: N/A — No thesis to invalidate due to insufficient data.
Confidence:
1 / 10
base 0; +1 for clear low-flow signal; -0 for no contradictory data. Total volume 330, OI 6. Data is statistically insignificant.

Watch next session: Any volume spike >1,000 contracts; OI growth beyond single digits at any strike

Flow Summary

Net premium: $-0K (negligible)

P/C volume ratio: 0.13 — call-dominant but on negligible volume

P/C OI ratio: N/A — OI too low for meaningful ratio

Market is effectively dormant. With only 330 total contracts traded and 6 total open interest, there is no institutional or meaningful retail flow to analyze. The 'mixed' flow regime is a data artifact, not a signal.

Notable Prints

Institutional Positioning

Call additions: None detected. Total OI of 6 contracts precludes institutional activity.

Put additions: None detected.

GEX/DEX consistency: N/A — GEX of $-0K is meaningless with such low OI.

OI clusters: No meaningful clusters. Top OI is 5 contracts at the $5.00 Put.

Hedging evidence: None. The $5.00 Put with 5 OI is more likely a long-term lottery ticket or legacy position than a hedge.

Max pain context: Max Pain at $2.50 for near-term expiries, but with spot at $3.37 and minimal OI, pin risk is non-existent. The rising MP trend to $7.50 in 2027 reflects the few long-dated contracts, not a consensus view.

Signal vs Noise

~All flow is noise. Total daily volume of 330 contracts is below the threshold for meaningful order flow analysis.
~The $5.00 Put with $180 in premium flow is statistically meaningless; it represents a few small retail trades.
~The IV term structure (12.5% near-term, 6.2% long-term) is inverted but based on negligible trading activity and likely stale quotes.

Key Conclusions

🚫Market is illiquid — No actionable flow signal. Total OI: 6, Volume: 330.
📊Data quality insufficient for analysis. A 'notable print' would need to be >33 contracts (10% of volume) and >5x OI, which is impossible with current OI levels.
⚠️Avoid over-interpretation. The provided metrics (P/C ratio, net premium, GEX) are mathematical outputs of tiny numbers, not reflections of market positioning.

Read the Flow analysis for FNKO for 2026-03-26. This AI-generated report covers regime classification, key price levels, strategy recommendations, and actionable trade ideas drawn from end-of-day options data including gamma exposure, delta exposure, and implied volatility.