AAPADVANCE AUTO PARTS INC
Options Analysis Report•RETAIL-AUTO & HOME SUPPLY STORES
Market Cap $3.0B|NYSE
● 2026-05-15$49.71
BULLISH
Analysis: 2026-05-14 EOD data
1Y +44.4%YTD +27.8%7D -11.5%
Options Vol
5,040
30D
Implied Move
±25.6%
IV Rank
72%
AAP Options Overview
IV is elevated with bullish flow. Conditions favor premium sellers.
REWARDS
RISK ANALYSIS
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Value
Is IV priced right?
1.7
ExpensiveCheap
Measures whether options are cheap, fair, or rich relative to historical and peer
IV
levels.Risk Checks2/9 checks passed
IV Rank
≤35%IV Rank 86.5% — elevated vs history
IV/HV Ratio
<1.05xIV/HV 1.68x — IV premium over HV
Sector Relative≤50%
Sector percentile 93% — above sector median
Term Structure
<1.1xFront/Back 1.94x — backwardation
Skew Normal
<1.25xPut/Call IV 1.16x — elevated
Absolute IV
<80%ATM IV 83.8% — crisis-level IV
Spread-Adjusted Value
<80%Effective IV 113.0% (ATM 83.8% + spread 14.6% + bias) — expensive
Execution Efficiency
<3.0%Total drag 18.36% (spread 14.62% + slippage 3.74%) — high friction
Vega Efficiency
≥5.0Vega efficiency 10.09 (vega 14.753 / spread 14.62%) — efficient
Sentiment
Bullish or bearish?
6.5
BearishBullish
Analyzes
put/call ratios
, open interest skew
, and flow direction to determine market bias.Risk ChecksNeutral - Moderate signal (Conviction: +1%, Raw: -7%)
Flow Direction
|net sentiment| ≥25%Conviction-weighted: +1% (neutral) — Raw: -7%
OI Skew Magnitude
≥15%|OI skew| 65.0% — call-heavy
Volume-OI Alignment
Same sign, |vol skew| ≥10%Vol skew +64.9%, OI skew +65.0% — aligned
Conviction Quality
≥2/3 conditions0-DTE 12%, far-OTM 15%, avg DTE 30
OI Momentum
|change| ≥3%OI change +0.0% (5d) — stable
Smart Money Flow
|weighted flow| ≥20%ITM: +16%, ATM: -60%, OTM: -4% — bearish (ITM/ATM divergent)
Sector Relative≤40% or ≥60%
Sector P/C percentile 27% — very bullish vs sector
Activity
Unusual activity?
3.3
QuietActive
Detects volume surges,
block trades
, and unusual options activity that may signal moves.Risk Checks1/9 checks passed
Volume Surge
≥1.5xVolume 0.7x avg — normal
Turnover Rate
≥15%Vol/OI 3.0% — 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 +21.0% (5d) — building
Sector Relative≥60%
Sector activity percentile 53% — neutral vs sector
Trade Quality
≥30%Large trade volume 16% — mixed
Execution Urgency
≥60%Aggressive execution 38% — patient
Flow Conviction
≥30Conviction +1 (bullish) — mixed
Liquidity
Can I trade efficiently?
3.3
IlliquidLiquid
Evaluates
bid-ask spreads
, volume depth, and open interest for trade execution quality.Risk Checks3/8 checks passed
Tradeable Spread
≤5.0%Spread 14.6% — wide
Adequate OI
≥10,000OI 166,954 — deep
Active Volume
≥500Volume 5,040/day — active
Reasonable Cost
≤$0.50$0.73 to cross — expensive
Strike Coverage
≥5 strikes0 liquid strikes — limited options
Sector Relative≤40%
Sector spread percentile 96% — much wider than sector
Order Book Depth
≥100 contractsDepth 161.2 contracts (bid:87.0 ask:74.2) — adequate
Execution Quality
<1.0%Avg slippage 3.74% — poor
Timing
Is now a good time?
7.1
RiskyFavorable
Considers earnings proximity,
time decay
, and event calendar for optimal entry timing.Risk Checks7/9 checks passed
Term Structure Clarity
|slope| ≥5%Slope +93.6% — backwardation
IV Percentile Clarity
<30 or >70IV percentile 86% — seller opportunity
Event Detection
≥10pts kinkIV kink 51.0pts — event priced
Theta/Vega Clarity
<0.5 or >2.0θ/ν ratio 633.18 — favors income trades
Expiration Distribution
≥3 expirations5 liquid expirations — flexible
Event Risk
≥60% (safe)caution advised: Earnings in 6d (elevated risk)
Spread Momentum
<1.2 ratioSpread ratio 1.00x — stable
Flow Momentum
≥25% strength + ≥50% consistencyFlow +1% @ 51% consistency — unclear
Smart Money Timing
≥40 composite scoreScore 46 (ITM 20% + inst 16%) — moderate institutional
Directional Strategy Fit
Option Buyers
Long Calls4.5
bullishIV expensive, bullish flow
Long Puts3.4
bearishIV expensive, bullish flow
Premium Sellers
Cash-Secured Put7.0
bullishIV rich premium, bullish flow
Covered Call5.4
bearishIV rich premium, bullish flow
For educational purposes only. Not investment advice.