ADIAnalog Devices, Inc.
Options Analysis Report•SEMICONDUCTORS & RELATED DEVICES
Market Cap $208.4B|NASDAQ
● 2026-05-15$426.79
NEUTRAL
Analysis: 2026-05-14 EOD data
1Y +87.9%YTD +55.9%7D +2.5%
Options Vol
8,564
30D
Implied Move
±15.0%
IV Rank
94%
ADI Options Overview
IV is elevated. Conditions favor premium sellers.
REWARDS
RISK ANALYSIS
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Value
Is IV priced right?
3.2
ExpensiveCheap
Measures whether options are cheap, fair, or rich relative to historical and peer
IV
levels.Risk Checks4/9 checks passed
IV Rank
≤35%IV Rank 85.5% — elevated vs history
IV/HV Ratio
<1.05xIV/HV 1.38x — IV premium over HV
Sector Relative≤50%
Sector percentile 52% — above sector median
Term Structure
<1.1xFront/Back 1.37x — backwardation
Skew Normal
<1.25xPut/Call IV 1.16x — elevated
Absolute IV
<80%ATM IV 51.5% — normal range
Spread-Adjusted Value
<80%Effective IV 60.1% (ATM 51.5% + spread 4.3% + bias) — good value
Execution Efficiency
<3.0%Total drag 8.11% (spread 4.30% + slippage 3.81%) — high friction
Vega Efficiency
≥5.0Vega efficiency 311.34 (vega 133.877 / spread 4.30%) — efficient
Sentiment
Bullish or bearish?
5.8
BearishBullish
Analyzes
put/call ratios
, open interest skew
, and flow direction to determine market bias.Risk ChecksBearish - Moderate signal (Conviction: -19%, Raw: -15%)
Flow Direction
|net sentiment| ≥25%Conviction-weighted: -19% (bearish) — Raw: -15%
OI Skew Magnitude
≥15%|OI skew| 10.5% — balanced
Volume-OI Alignment
Same sign, |vol skew| ≥10%Vol skew +34.0%, OI skew +10.5% — aligned
Conviction Quality
≥2/3 conditions0-DTE 30%, far-OTM 15%, avg DTE 30
OI Momentum
|change| ≥3%OI change +0.0% (5d) — stable
Smart Money Flow
|weighted flow| ≥20%ITM: +5%, ATM: -40%, OTM: -4% — bearish (ITM/ATM divergent)
Sector Relative≤40% or ≥60%
Sector P/C percentile 40% — bullish vs sector
Activity
Unusual activity?
4.8
QuietActive
Detects volume surges,
block trades
, and unusual options activity that may signal moves.Risk Checks2/9 checks passed
Volume Surge
≥1.5xVolume 0.9x avg — normal
Turnover Rate
≥15%Vol/OI 8.2% — 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 +12.6% (5d) — building
Sector Relative≥60%
Sector activity percentile 57% — neutral vs sector
Trade Quality
≥30%Large trade volume 39% — institutional presence
Execution Urgency
≥60%Aggressive execution 46% — patient
Flow Conviction
≥30Conviction -19 (bearish) — mixed
Liquidity
Can I trade efficiently?
6.0
IlliquidLiquid
Evaluates
bid-ask spreads
, volume depth, and open interest for trade execution quality.Risk Checks5/8 checks passed
Tradeable Spread
≤5.0%Spread 4.3% — acceptable
Adequate OI
≥10,000OI 104,274 — deep
Active Volume
≥500Volume 8,564/day — active
Reasonable Cost
≤$0.50$0.21 to cross — cheap
Strike Coverage
≥5 strikes5 liquid strikes — good coverage
Sector Relative≤40%
Sector spread percentile 54% — neutral vs sector
Order Book Depth
≥100 contractsDepth 50.2 contracts (bid:23.0 ask:27.2) — thin
Execution Quality
<1.0%Avg slippage 3.81% — poor
Timing
Is now a good time?
7.6
RiskyFavorable
Considers earnings proximity,
time decay
, and event calendar for optimal entry timing.Risk Checks7/9 checks passed
Term Structure Clarity
|slope| ≥5%Slope +36.8% — backwardation
IV Percentile Clarity
<30 or >70IV percentile 86% — seller opportunity
Event Detection
≥10pts kinkIV kink 15.0pts — event priced
Theta/Vega Clarity
<0.5 or >2.0θ/ν ratio 945.46 — favors income trades
Expiration Distribution
≥3 expirations5 liquid expirations — flexible
Event Risk
≥60% (safe)caution advised: Earnings in 5d (elevated risk)
Spread Momentum
<1.2 ratioSpread ratio 1.00x — stable
Flow Momentum
≥25% strength + ≥50% consistencyFlow -19% @ 60% consistency — unclear
Smart Money Timing
≥40 composite scoreScore 69 (ITM 20% + inst 39%) — HIGH institutional
Directional Strategy Fit
Option Buyers
Long Calls5.2
bullishIV expensive, mixed flow
Long Puts4.6
bearishIV expensive, mixed flow
Premium Sellers
Cash-Secured Put6.4
bullishIV rich premium, mixed flow
Covered Call5.9
bearishIV rich premium, mixed flow
For educational purposes only. Not investment advice.