$Nokia Oyj(NOK.US) I no longer highlight $Nokia Oyj(NOK.US)'s low implied volatility rank now, because that would cause misunderstanding. In fact, if you only started looking at its implied volatility in March this year, you would judge the current volatility to be very high. It only reached the peak volatility (110%) on 05/26. However, if you include the volatility jitter caused by liquidity factors earlier, you would misjudge the current volatility as seemingly very low.
The top-right chart shows the maximum pain point price trend for the most recent one-month options. Although $Nokia Oyj(NOK.US)'s stock price has been rising continuously, the price drop in the last two days has allowed the maximum pain point to catch up. 06/18 belongs to the monthly options, which have already accumulated over 200,000 contracts in open interest, making it relatively more difficult to move, but it can still be seen to have been continuously rising over this month. These are patterns relatively favorable for subsequent stock price increases.The bottom-left chart is the single-day open interest change chart for $Nokia Oyj(NOK.US) after two consecutive days of price decline. It can be seen that the opening of call options is still relatively active. Surprisingly, options expiring in 85 days even saw new call open interest of 16,000 contracts at a strike price of $18. Since the Put/Call volatility spread has fallen below the zero line, the positions should be primarily established by buying pressure. The bottom-right chart is the open interest change chart for call options from early April to the present. This heatmap shows that the most actively traded call options are distributed at strike prices of $16~$17. It wasn't until yesterday that a large amount of open interest appeared at the $18 strike. The stock price only experienced a slight adjustment, which does not affect the confidence of market participants. Call option buying on the rise is still active, and the distribution of strike prices has actually moved upwards.
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