Options/ADI

ADIAnalog Devices, Inc.

Options Analysis Report•SEMICONDUCTORS & RELATED DEVICES

Market Cap $175.0B|NASDAQ

● 2026-09-11$361.25

NEUTRAL

Analysis: 2026-09-10 EOD data

1Y +45.5%YTD +32.0%7D -0.3%

Options Vol

1,643

30D

Implied Move

±10.5%

IV Rank

21%

ADI Options Overview

Mixed signals. Conditions favor premium sellers.

REWARDS

RISK ANALYSIS

Snowflake Analysis

Favorable conditions for premium sellers

Learn

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ADI Gamma Walls

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ADI Hedge Radar

Neutral

Full Hedge Radar

Neither score is at an extreme today. Neither axis is a forecast — this is where ADI sits on protection cost vs. fragility today.

Protection is priced in the fair band (4.03) — downside puts carry 1.3 IV points more than at-the-money, and near-dated vol is priced 4% below far-dated, measured against this name's own rolling 20-trading-day realized moves (484 overlapping windows). Fragility reads resilient (2.38): its realized-vol regime is contracting, and it is trading 4% above its hedge wall on a wall graded HIGH for reliability.

Protection cost

4.03/ 10fair

Basis: cross_sectional

Fragility

2.38/ 10resilient

Basis: per_ticker

Value

Is IV priced right?

6.2

ExpensiveCheap

Measures whether options are cheap, fair, or rich relative to historical and peer

levels.

Risk Checks6/9 checks passed

IV Rank

≤35%

IV Rank 67.8% — elevated vs history

IV/HV Ratio

<1.05x

IV/HV 1.67x — IV premium over HV

Sector Relative≤50%

Sector percentile 24% — below sector median

Term Structure

<1.1x

Front/Back 0.96x — contango

Skew Normal

<1.25x

Put/Call IV 1.16x — elevated

Absolute IV

<80%

ATM IV 38.6% — normal range

Spread-Adjusted Value

<80%

Effective IV 53.1% (ATM 38.6% + spread 7.2% + bias) — good value

Execution Efficiency

<3.0%

Total drag 11.59% (spread 7.25% + slippage 4.34%) — high friction

Vega Efficiency

≥5.0

Vega efficiency 71.61 (vega 51.914 / spread 7.25%) — efficient

Sentiment

Bullish or bearish?

5.4

BearishBullish

Analyzes

put/call ratios

open interest skew

, and flow direction to determine market bias.

Risk ChecksBullish - Moderate signal (Conviction: +29%, Raw: +22%)

Flow Direction

|net sentiment| ≥25%

Conviction-weighted: +29% (bullish) — Raw: +22%

OI Skew Magnitude

≥15%

|OI skew| 33.7% — call-heavy

Volume-OI Alignment

Same sign, |vol skew| ≥10%

Vol skew -30.4%, OI skew +33.7% — divergent (opposite)

Conviction Quality

≥2/3 conditions

0-DTE 6%, far-OTM 15%, avg DTE 30

OI Momentum

|change| ≥3%

OI change +0.0% (5d) — stable

Smart Money Flow

|weighted flow| ≥20%

ITM: +19%, ATM: +1%, OTM: +25% — bullish (ITM/ATM aligned)

Sector Relative≤40% or ≥60%

Sector P/C percentile 87% — very bearish vs sector

Activity

Unusual activity?

2.9

QuietActive

Detects volume surges,

block trades

, and unusual options activity that may signal moves.

Risk Checks1/8 checks passed

Volume Surge

≥1.5x

Volume 0.2x avg — normal

Turnover Rate

≥15%

Vol/OI 1.3% — normal turnover

Multi-Day Persistence

≥2 days

1 day(s) elevated — may be one-day event

OI Build

≥5%

OI change +21.9% (5d) — building

Sector Relative≥60%

Sector activity percentile 15% — quiet vs sector

Trade Quality

≥30%

Large trade volume 0% — mostly retail

Execution Urgency

≥60%

Aggressive execution 19% — patient

Flow Conviction

≥30

Conviction +29 (bullish) — mixed

Liquidity

Can I trade efficiently?

4.9

IlliquidLiquid

Evaluates

bid-ask spreads

, volume depth, and open interest for trade execution quality.

Risk Checks4/8 checks passed

Tradeable Spread

≤5.0%

Spread 7.2% — wide

Adequate OI

≥10,000

OI 124,881 — deep

Active Volume

≥500

Volume 1,643/day — adequate

Reasonable Cost

≤$0.50

$0.36 to cross — cheap

Strike Coverage

≥5 strikes

1 liquid strikes — limited options

Sector Relative≤40%

Sector spread percentile 26% — tighter than sector

Order Book Depth

≥100 contracts

Depth 63.5 contracts (bid:33.5 ask:30.0) — thin

Execution Quality

<1.0%

Avg slippage 4.34% — poor

Timing

Is now a good time?

6.2

RiskyFavorable

Considers earnings proximity,

time decay

, and event calendar for optimal entry timing.

Risk Checks4/9 checks passed

Term Structure Clarity

|slope| ≥5%

Slope -4.1% — flat/unclear

IV Percentile Clarity

<30 or >70

IV percentile 68% — neutral

Event Detection

≥10pts kink

IV kink -0.5pts — no clear event

Theta/Vega Clarity

<0.5 or >2.0

θ/ν ratio 233.85 — favors income trades

Expiration Distribution

≥3 expirations

5 liquid expirations — flexible

Event Risk

≥60% (safe)

caution advised: FOMC in 5d; CPI in 0d (HIGH)

Spread Momentum

<1.2 ratio

Spread ratio 1.00x — stable

Flow Momentum

≥25% strength + ≥50% consistency

Flow +29% @ 64% consistency — moderate (bullish)

Smart Money Timing

≥40 composite score

Score 30 (ITM 20% + inst 0%) — retail dominated

Directional Strategy Fit

Option Buyers

Long Calls5.7

bullishIV cheap, mixed flow

Long Puts5.4

bearishIV cheap, mixed flow

Premium Sellers

Cash-Secured Put4.9

bullishIV too cheap, mixed flow

Covered Call4.6

bearishIV too cheap, mixed flow

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.

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