FSLR Options Chain Analysis

Delayed CBOE data, snapshot 2026-08-18. Spot $218.

Put/Call (OI)

0.62

240k P / 386k C

Put/Call (Volume)

5.05

44k P / 9k C today

30d ATM IV

52%

annualized implied move

Call wall

$410

60k contracts

Put wall

$180

31k contracts

Tail hedging

0.5×

deep-OTM puts vs calls

What the positioning says

●Bullish positioning: only 0.62 puts per call outstanding.
●Call wall at $410 (60k contracts), 88% above spot — the upside strike the crowd is already parked on; often acts as near-term resistance.
●Put wall at $180 (31k contracts), 17% below spot — the hedge floor; often acts as support.
●Deep-OTM call OI is 2.2× deep-OTM put OI — speculative upside positioning dominates the tails.

Open interest by strike

All expiries combined. Amber lines mark the call and put walls; the dashed line is spot.

IV term structure

At-the-money implied volatility per expiry.

Volatility smile

IV by strike — expiry 2026-09-18. A steep left side = expensive downside protection.

30-day implied volatility history

Daily ATM IV (~30 DTE bucket) collected since March 2026. Rising IV into an event = the market bracing; collapsing IV after = the crush.

Open interest by expiry

Expiry	Call OI	Put OI	P/C	Volume today
2026-08-21	44k	29k	0.65	11k
2026-08-28	3k	5k	1.42	4k
2026-09-04	3k	2k	0.66	439
2026-09-11	2k	789	0.35	206
2026-09-18	51k	25k	0.48	2k
2026-09-25	147	1k	10.12	583
2026-10-02	9	24	2.67	45
2026-10-16	5k	3k	0.63	617
2026-11-20	2k	3k	1.36	5k
2026-12-18	33k	20k	0.61	6k
2027-01-15	71k	95k	1.33	9k
2027-03-19	8k	6k	0.73	1k
2027-06-17	15k	7k	0.47	6k
2028-01-21	109k	42k	0.38	7k
2028-06-16	40k	3k	0.08	1k

Source: CBOE delayed quotes, refreshed daily after US market close. Open interest is exchange-reported and lags one session. Research, not investment advice.