unusual activity. Conditions favor option buyers.
Is IV priced right?
Measures whether options are cheap, fair, or rich relative to historical and peer
IV Rank 30.2% — cheap vs history
IV/HV 1.13x — IV premium over HV
Sector percentile 25% — below sector median
Front/Back 0.92x — contango
Put/Call IV 1.16x — elevated
ATM IV 30.2% — normal range
Effective IV 50.6% (ATM 30.2% + spread 10.2% + bias) — good value
Total drag 14.46% (spread 10.18% + slippage 4.28%) — high friction
Vega efficiency 23.58 (vega 24.003 / spread 10.18%) — efficient
Bullish or bearish?
Analyzes
Conviction-weighted: +20% (bullish) — Raw: +26%
|OI skew| 17.8% — call-heavy
Vol skew -55.2%, OI skew +17.8% — divergent (opposite)
0-DTE 62%, far-OTM 15%, avg DTE 30
OI change +0.0% (5d) — stable
ITM: +36%, ATM: -18%, OTM: +20% — bullish (ITM/ATM divergent)
Sector P/C percentile 85% — very bearish vs sector
Unusual activity?
Detects volume surges,
Volume 1.4x avg — normal
Vol/OI 12.7% — normal turnover
Top 3 strikes = 50% — dispersed
1 day(s) elevated — may be one-day event
OI change +14.3% (5d) — building
Sector activity percentile 93% — very active vs sector
Large trade volume 71% — heavy institutional
Aggressive execution 38% — patient
Conviction +20 (bullish) — mixed
Can I trade efficiently?
Evaluates
Spread 10.2% — wide
OI 266,591 — deep
Volume 33,781/day — active
$0.51 to cross — expensive
0 liquid strikes — limited options
Sector spread percentile 27% — tighter than sector
Depth 343.2 contracts (bid:192.5 ask:150.7) — adequate
Avg slippage 4.28% — poor
Is now a good time?
Considers earnings proximity,
Slope -7.5% — contango
IV percentile 30% — neutral
IV kink -1.0pts — no clear event
θ/ν ratio 1043.62 — favors income trades
5 liquid expirations — flexible
safe window: No events detected
Spread ratio 1.00x — stable
Flow +20% @ 60% consistency — unclear
Score 101 (ITM 20% + inst 71%) — HIGH institutional
For educational purposes only. Not investment advice.