Options/FIGR

FIGRFigure Technology Solutions, Inc. Class A Common Stock

Options Analysis Report•LOAN BROKERS

Market Cap $8.1B|NASDAQ

● 2026-08-31$36.05

NEUTRAL

Analysis: 2026-08-28 EOD data

1Y +15.9%YTD -17.6%7D -6.7%

Options Vol

26,089

30D

Implied Move

±21.4%

IV Rank

FIGR Options Overview

IV is elevated with unusual activity. Conditions favor premium sellers.

REWARDS

RISK ANALYSIS

Snowflake Analysis

Favorable conditions for premium sellers

Learn

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FIGR Gamma Walls

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Value

Is IV priced right?

5.4

ExpensiveCheap

Measures whether options are cheap, fair, or rich relative to historical and peer

levels.

Risk Checks4/9 checks passed

IV Rank

≤35%

IV Rank 87.8% — elevated vs history

IV/HV Ratio

<1.05x

IV/HV 0.77x — IV ≤ HV

Sector Relative≤50%

Sector percentile 92% — above sector median

Term Structure

<1.1x

Front/Back 0.98x — contango

Skew Normal

<1.25x

Put/Call IV 1.16x — elevated

Absolute IV

<80%

ATM IV 67.2% — normal range

Spread-Adjusted Value

<80%

Effective IV 103.3% (ATM 67.2% + spread 18.0% + bias) — expensive

Execution Efficiency

<3.0%

Total drag 24.58% (spread 18.03% + slippage 6.55%) — high friction

Vega Efficiency

≥5.0

Vega efficiency 1.10 (vega 1.987 / spread 18.03%) — spread drag

Sentiment

Bullish or bearish?

4.8

BearishBullish

Analyzes

put/call ratios

open interest skew

, and flow direction to determine market bias.

Risk ChecksBearish - Strong signal (Conviction: -26%, Raw: -16%)

Flow Direction

|net sentiment| ≥25%

Conviction-weighted: -26% (bearish) — Raw: -16%

OI Skew Magnitude

≥15%

|OI skew| 25.2% — call-heavy

Volume-OI Alignment

Same sign, |vol skew| ≥10%

Vol skew +0.7%, OI skew +25.2% — weak (same direction)

Conviction Quality

≥2/3 conditions

0-DTE 0%, far-OTM 15%, avg DTE 30

OI Momentum

|change| ≥3%

OI change +0.0% (5d) — stable

Smart Money Flow

|weighted flow| ≥20%

ITM: -36%, ATM: -36%, OTM: +5% — strong bearish (ITM/ATM aligned)

Sector Relative≤40% or ≥60%

Sector P/C percentile 27% — very bullish vs sector

Activity

Unusual activity?

6.2

QuietActive

Detects volume surges,

block trades

, and unusual options activity that may signal moves.

Risk Checks4/8 checks passed

Volume Surge

≥1.5x

Volume 1.1x avg — normal

Turnover Rate

≥15%

Vol/OI 21.8% — high turnover

Multi-Day Persistence

≥2 days

1 day(s) elevated — may be one-day event

OI Build

≥5%

OI change +10.4% (5d) — building

Sector Relative≥60%

Sector activity percentile 93% — very active vs sector

Trade Quality

≥30%

Large trade volume 80% — heavy institutional

Execution Urgency

≥60%

Aggressive execution 30% — patient

Flow Conviction

≥30

Conviction -26 (bearish) — mixed

Liquidity

Can I trade efficiently?

3.5

IlliquidLiquid

Evaluates

bid-ask spreads

, volume depth, and open interest for trade execution quality.

Risk Checks3/8 checks passed

Tradeable Spread

≤5.0%

Spread 18.0% — wide

Adequate OI

≥10,000

OI 119,975 — deep

Active Volume

≥500

Volume 26,089/day — active

Reasonable Cost

≤$0.50

$0.90 to cross — expensive

Strike Coverage

≥5 strikes

0 liquid strikes — limited options

Sector Relative≤40%

Sector spread percentile 94% — much wider than sector

Order Book Depth

≥100 contracts

Depth 496.5 contracts (bid:270.8 ask:225.7) — adequate

Execution Quality

<1.0%

Avg slippage 6.55% — poor

Timing

Is now a good time?

7.3

RiskyFavorable

Considers earnings proximity,

time decay

, and event calendar for optimal entry timing.

Risk Checks7/9 checks passed

Term Structure Clarity

|slope| ≥5%

Slope -1.8% — flat/unclear

IV Percentile Clarity

<30 or >70

IV percentile 88% — seller opportunity

Event Detection

≥10pts kink

IV kink 0.1pts — no clear event

Theta/Vega Clarity

<0.5 or >2.0

θ/ν ratio 15.06 — favors income trades

Expiration Distribution

≥3 expirations

5 liquid expirations — flexible

Event Risk

≥60% (safe)

safe window: No events detected

Spread Momentum

<1.2 ratio

Spread ratio 1.00x — stable

Flow Momentum

≥25% strength + ≥50% consistency

Flow -26% @ 63% consistency — moderate (bearish)

Smart Money Timing

≥40 composite score

Score 110 (ITM 20% + inst 80%) — HIGH institutional

Directional Strategy Fit

Option Buyers

Long Calls5.2

bullishIV fair, mixed flow

Long Puts5.4

bearishIV fair, mixed flow

Premium Sellers

Cash-Secured Put4.8

bullishIV fair, mixed flow

Covered Call5.0

bearishIV fair, mixed flow

For educational purposes only. Not investment advice.

The Options Desk tracks the move options price into every US earnings report the week of Aug 31, next to how much each stock has actually moved on its past prints — plus the SPY, QQQ and IWM expected ranges and the gamma walls that box them in.

More on FIGR

FIGR gamma walls FIGR max pain FIGR IV rank FIGR options flow