ACLSAxcelis Technologies Inc
ACLS Options Overview
IV is elevated. Conditions favor premium sellers.
REWARDS
RISK ANALYSIS
ACLS Gamma Walls
Value
Is IV priced right?
Measures whether options are cheap, fair, or rich relative to historical and peer
IV Rank 84.2% — elevated vs history
IV/HV 1.25x — IV premium over HV
Sector percentile 65% — above sector median
Front/Back 0.92x — contango
Put/Call IV 1.16x — elevated
ATM IV 65.1% — normal range
Effective IV 86.3% (ATM 65.1% + spread 10.6% + bias) — expensive
Total drag 13.08% (spread 10.58% + slippage 2.50%) — high friction
Vega efficiency 13.45 (vega 14.229 / spread 10.58%) — efficient
Sentiment
Bullish or bearish?
Analyzes
Conviction-weighted: -39% (strong bearish) — Raw: -26%
|OI skew| 35.7% — call-heavy
Vol skew +19.4%, OI skew +35.7% — aligned
0-DTE 0%, far-OTM 15%, avg DTE 30
OI change +0.0% (5d) — stable
ITM: -7%, ATM: -74%, OTM: +4% — strong bearish (ITM/ATM aligned)
Sector P/C percentile 53% — neutral vs sector
Activity
Unusual activity?
Detects volume surges,
Volume 0.4x avg — normal
Vol/OI 0.9% — normal turnover
1 day(s) elevated — may be one-day event
OI change +11.9% (5d) — building
Sector activity percentile 35% — below sector avg
Large trade volume 0% — mostly retail
Aggressive execution 15% — patient
Conviction -39 (bearish) — moderate
Liquidity
Can I trade efficiently?
Evaluates
Spread 10.6% — wide
OI 7,731 — thin
Volume 72/day — thin
$0.53 to cross — expensive
0 liquid strikes — limited options
Sector spread percentile 79% — wider than sector
Depth 24.8 contracts (bid:12.0 ask:12.8) — thin
Avg slippage 2.50% — poor
Timing
Is now a good time?
Considers earnings proximity,
Slope -8.5% — contango
IV percentile 84% — seller opportunity
IV kink -3.5pts — no clear event
θ/ν ratio 116.73 — favors income trades
4 liquid expirations — flexible
caution advised: FOMC in 5d; CPI in 0d (HIGH)
Spread ratio 1.00x — stable
Flow -39% @ 70% consistency — moderate (bearish)
Score 30 (ITM 20% + inst 0%) — retail dominated
Directional Strategy Fit
For educational purposes only. Not investment advice.
The Options Desk tracks the move options price into every US earnings report the week of Sep 7, next to how much each stock has actually moved on its past prints — plus the SPY, QQQ and IWM expected ranges and the gamma walls that box them in.