Options/AEHR

AEHRAehr Test Systems

Options Analysis Report•INSTRUMENTS FOR MEAS & TESTING OF ELECTRICITY & ELEC SIGNALS

Market Cap $3.1B|NASDAQ

● 2026-09-11$94.69

BULLISH

Analysis: 2026-09-10 EOD data

1Y +257.7%YTD +327.3%7D +9.8%

Options Vol

10,890

30D

Implied Move

±33.3%

IV Rank

53%

AEHR Options Overview

IV is elevated with unusual activity. Conditions favor premium sellers.

REWARDS

RISK ANALYSIS

Snowflake Analysis

Favorable conditions for premium sellers

Learn

Loading score history...

AEHR Gamma Walls

Loading gamma walls...

Value

Is IV priced right?

3.6

ExpensiveCheap

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

levels.

Risk Checks4/9 checks passed

IV Rank

≤35%

IV Rank 97.0% — elevated vs history

IV/HV Ratio

<1.05x

IV/HV 1.02x — IV ≤ HV

Sector Relative≤50%

Sector percentile 99% — above sector median

Term Structure

<1.1x

Front/Back 1.04x — flat

Skew Normal

<1.25x

Put/Call IV 1.16x — elevated

Absolute IV

<80%

ATM IV 119.7% — crisis-level IV

Spread-Adjusted Value

<80%

Effective IV 145.8% (ATM 119.7% + spread 13.1% + bias) — expensive

Execution Efficiency

<3.0%

Total drag 18.37% (spread 13.06% + slippage 5.31%) — high friction

Vega Efficiency

≥5.0

Vega efficiency 8.00 (vega 10.443 / spread 13.06%) — efficient

Sentiment

Bullish or bearish?

6.6

BearishBullish

Analyzes

put/call ratios

open interest skew

, and flow direction to determine market bias.

Risk ChecksNeutral - Weak signal (Conviction: +5%, Raw: +13%)

Flow Direction

|net sentiment| ≥25%

Conviction-weighted: +5% (neutral) — Raw: +13%

OI Skew Magnitude

≥15%

|OI skew| 7.6% — balanced

Volume-OI Alignment

Same sign, |vol skew| ≥10%

Vol skew +32.3%, OI skew +7.6% — aligned

Conviction Quality

≥2/3 conditions

0-DTE 22%, far-OTM 15%, avg DTE 30

OI Momentum

|change| ≥3%

OI change +0.0% (5d) — stable

Smart Money Flow

|weighted flow| ≥20%

ITM: -14%, ATM: +32%, OTM: +12% — neutral (ITM/ATM divergent)

Sector Relative≤40% or ≥60%

Sector P/C percentile 45% — bullish vs sector

Activity

Unusual activity?

4.6

QuietActive

Detects volume surges,

block trades

, and unusual options activity that may signal moves.

Risk Checks2/8 checks passed

Volume Surge

≥1.5x

Volume 1.1x avg — normal

Turnover Rate

≥15%

Vol/OI 8.2% — normal turnover

Multi-Day Persistence

≥2 days

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

OI Build

≥5%

OI change +7.6% (5d) — building

Sector Relative≥60%

Sector activity percentile 86% — very active vs sector

Trade Quality

≥30%

Large trade volume 23% — mixed

Execution Urgency

≥60%

Aggressive execution 23% — patient

Flow Conviction

≥30

Conviction +5 (bullish) — mixed

Liquidity

Can I trade efficiently?

3.7

IlliquidLiquid

Evaluates

bid-ask spreads

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

Risk Checks3/8 checks passed

Tradeable Spread

≤5.0%

Spread 13.1% — wide

Adequate OI

≥10,000

OI 133,638 — deep

Active Volume

≥500

Volume 10,890/day — active

Reasonable Cost

≤$0.50

$0.65 to cross — expensive

Strike Coverage

≥5 strikes

0 liquid strikes — limited options

Sector Relative≤40%

Sector spread percentile 99% — much wider than sector

Order Book Depth

≥100 contracts

Depth 146.60000000000002 contracts (bid:66.2 ask:80.4) — adequate

Execution Quality

<1.0%

Avg slippage 5.31% — poor

Timing

Is now a good time?

6.8

RiskyFavorable

Considers earnings proximity,

time decay

, and event calendar for optimal entry timing.

Risk Checks5/9 checks passed

Term Structure Clarity

|slope| ≥5%

Slope +4.4% — flat/unclear

IV Percentile Clarity

<30 or >70

IV percentile 97% — seller opportunity

Event Detection

≥10pts kink

IV kink 2.9pts — no clear event

Theta/Vega Clarity

<0.5 or >2.0

θ/ν ratio 45.13 — favors income trades

Expiration Distribution

≥3 expirations

4 liquid expirations — flexible

Event Risk

≥60% (safe)

caution advised: Earnings in 24d (low risk); FOMC in 5d; CPI in 0d (HIGH)

Spread Momentum

<1.2 ratio

Spread ratio 1.00x — stable

Flow Momentum

≥25% strength + ≥50% consistency

Flow +5% @ 53% consistency — unclear

Smart Money Timing

≥40 composite score

Score 53 (ITM 20% + inst 23%) — moderate institutional

Directional Strategy Fit

Option Buyers

Long Calls5.1

bullishIV expensive, bullish flow

Long Puts4.0

bearishIV expensive, bullish flow

Premium Sellers

Cash-Secured Put6.0

bullishIV rich premium, bullish flow

Covered Call4.9

bearishIV rich premium, bullish 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.

More on AEHR

AEHR gamma walls AEHR option chain AEHR max pain AEHR expected move AEHR IV rank AEHR put/call ratio AEHR options flow