FSLRFirst Solar, Inc.
Options Analysis Report•SEMICONDUCTORS & RELATED DEVICES
Market Cap $24.9B|NASDAQ
● 2026-05-15$231.62
BULLISH
Analysis: 2026-05-14 EOD data
1Y +24.4%YTD -15.6%7D +5.3%
Options Vol
9,071
30D
Implied Move
±15.0%
IV Rank
17%
FSLR Options Overview
IV is elevated with bullish flow. Conditions favor premium sellers.
REWARDS
RISK ANALYSIS
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Value
Is IV priced right?
5.0
ExpensiveCheap
Measures whether options are cheap, fair, or rich relative to historical and peer
IV
levels.Risk Checks5/9 checks passed
IV Rank
≤35%IV Rank 88.9% — elevated vs history
IV/HV Ratio
<1.05xIV/HV 1.23x — IV premium over HV
Sector Relative≤50%
Sector percentile 95% — above sector median
Term Structure
<1.1xFront/Back 0.98x — contango
Skew Normal
<1.25xPut/Call IV 1.16x — elevated
Absolute IV
<80%ATM IV 54.9% — normal range
Spread-Adjusted Value
<80%Effective IV 68.8% (ATM 54.9% + spread 7.0% + bias) — fair
Execution Efficiency
<3.0%Total drag 13.59% (spread 6.96% + slippage 6.63%) — high friction
Vega Efficiency
≥5.0Vega efficiency 104.30 (vega 72.592 / spread 6.96%) — efficient
Sentiment
Bullish or bearish?
6.3
BearishBullish
Analyzes
put/call ratios
, open interest skew
, and flow direction to determine market bias.Risk ChecksNeutral - Moderate signal (Conviction: -6%, Raw: -7%)
Flow Direction
|net sentiment| ≥25%Conviction-weighted: -6% (neutral) — Raw: -7%
OI Skew Magnitude
≥15%|OI skew| 22.9% — call-heavy
Volume-OI Alignment
Same sign, |vol skew| ≥10%Vol skew +56.6%, OI skew +22.9% — aligned
Conviction Quality
≥2/3 conditions0-DTE 34%, far-OTM 15%, avg DTE 30
OI Momentum
|change| ≥3%OI change +0.0% (5d) — stable
Smart Money Flow
|weighted flow| ≥20%ITM: +12%, ATM: +5%, OTM: -12% — neutral (ITM/ATM aligned)
Sector Relative≤40% or ≥60%
Sector P/C percentile 32% — bullish vs sector
Activity
Unusual activity?
2.4
QuietActive
Detects volume surges,
block trades
, and unusual options activity that may signal moves.Risk Checks0/9 checks passed
Volume Surge
≥1.5xVolume 0.4x avg — normal
Turnover Rate
≥15%Vol/OI 1.6% — normal turnover
Strike Concentration
≥60%Top 3 strikes = 50% — dispersed
Multi-Day Persistence
≥2 days1 day(s) elevated — may be one-day event
OI Build
≥5%OI change +4.0% (5d) — building
Sector Relative≥60%
Sector activity percentile 5% — quiet vs sector
Trade Quality
≥30%Large trade volume 15% — mostly retail
Execution Urgency
≥60%Aggressive execution 28% — patient
Flow Conviction
≥30Conviction -6 (bearish) — mixed
Liquidity
Can I trade efficiently?
4.9
IlliquidLiquid
Evaluates
bid-ask spreads
, volume depth, and open interest for trade execution quality.Risk Checks4/8 checks passed
Tradeable Spread
≤5.0%Spread 7.0% — wide
Adequate OI
≥10,000OI 574,424 — deep
Active Volume
≥500Volume 9,071/day — active
Reasonable Cost
≤$0.50$0.35 to cross — cheap
Strike Coverage
≥5 strikes0 liquid strikes — limited options
Sector Relative≤40%
Sector spread percentile 95% — much wider than sector
Order Book Depth
≥100 contractsDepth 187.60000000000002 contracts (bid:87.2 ask:100.4) — adequate
Execution Quality
<1.0%Avg slippage 6.63% — poor
Timing
Is now a good time?
6.9
RiskyFavorable
Considers earnings proximity,
time decay
, and event calendar for optimal entry timing.Risk Checks6/9 checks passed
Term Structure Clarity
|slope| ≥5%Slope -2.0% — flat/unclear
IV Percentile Clarity
<30 or >70IV percentile 89% — seller opportunity
Event Detection
≥10pts kinkIV kink 0.9pts — no clear event
Theta/Vega Clarity
<0.5 or >2.0θ/ν ratio 791.63 — favors income trades
Expiration Distribution
≥3 expirations5 liquid expirations — flexible
Event Risk
≥60% (safe)safe window: No events detected
Spread Momentum
<1.2 ratioSpread ratio 1.00x — stable
Flow Momentum
≥25% strength + ≥50% consistencyFlow -6% @ 53% consistency — unclear
Smart Money Timing
≥40 composite scoreScore 45 (ITM 20% + inst 15%) — moderate institutional
Directional Strategy Fit
Option Buyers
Long Calls5.7
bullishIV fair, bullish flow
Long Puts4.8
bearishIV fair, bullish flow
Premium Sellers
Cash-Secured Put5.6
bullishIV fair, bullish flow
Covered Call4.8
bearishIV fair, bullish flow
For educational purposes only. Not investment advice.