$Echostar(SATS.US) This is the first time I've looked at $Echostar(SATS.US) data. It was mentioned twice on my feed before, but because trading data for this type of newly popular stock is usually harder to analyze, I put it off until today.
Although $Echostar(SATS.US) is a hot stock in the spotlight, looking at the two-year implied volatility trend in the top-left chart, we can see that since around February this year, after approaching a new, higher baseline, it has generally oscillated around this baseline (~60%). Even the sharp stock price rise since late April hasn't helped lift implied volatility.
Options trading isn't very active. Looking at the top-right chart, which shows the two-year Put/Call volatility spread, we can see recent spreads are similar to the lows of last December or October, indicating that confidence in the bullish side is still being injected during the stock price rise. Implied volatility hasn't increased significantly, but call option trading is still relatively popular.
Surprisingly, the bottom-left chart shows a very large number of put option positions opened, and they are opened at very out-of-the-money levels (possibly at the $95 or $100 integer levels). There are also around two thousand put option positions opened near at-the-money levels, with a more ordinary volume.
The momentum of chasing the rally may have seen a turning point in last Friday's trading, as last Friday's position changes showed a rather lukewarm willingness to place bullish bets.
The bottom-right chart plots out-of-the-money call/put options separately over the past year. Even though the stock price has risen significantly recently, breaking through the upper resistance level, the option volatility hasn't changed much. Both the green dotted line (Call) and the red dotted line (Put) seem to have only minor ripples.
Why is options trading so calm? We'll have to wait three or four days to see how the data changes before it becomes clear.