AIGAmerican International Group, Inc.
Options Analysis Report•FIRE, MARINE & CASUALTY INSURANCE
Market Cap $40.1B|NYSE
● 2026-05-15$75.71
NEUTRAL
Analysis: 2026-05-14 EOD data
1Y -9.0%YTD -10.2%7D -0.9%
Options Vol
1,029
30D
Implied Move
±6.7%
IV Rank
22%
AIG Options Overview
IV is low. Conditions favor option buyers.
REWARDS
RISK ANALYSIS
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Value
Is IV priced right?
8.1
ExpensiveCheap
Measures whether options are cheap, fair, or rich relative to historical and peer
IV
levels.Risk Checks7/9 checks passed
IV Rank
≤35%IV Rank 10.6% — cheap vs history
IV/HV Ratio
<1.05xIV/HV 1.00x — IV ≤ HV
Sector Relative≤50%
Sector percentile 15% — below sector median
Term Structure
<1.1xFront/Back 0.93x — contango
Skew Normal
<1.25xPut/Call IV 1.16x — elevated
Absolute IV
<80%ATM IV 25.2% — normal range
Spread-Adjusted Value
<80%Effective IV 73.3% (ATM 25.2% + spread 24.0% + bias) — fair
Execution Efficiency
<3.0%Total drag 31.97% (spread 24.04% + slippage 7.93%) — high friction
Vega Efficiency
≥5.0Vega efficiency 3.80 (vega 9.124 / spread 24.04%) — spread drag
Sentiment
Bullish or bearish?
5.7
BearishBullish
Analyzes
put/call ratios
, open interest skew
, and flow direction to determine market bias.Risk ChecksVery Bullish - Moderate signal (Conviction: +39%, Raw: +48%)
Flow Direction
|net sentiment| ≥25%Conviction-weighted: +39% (strong bullish) — Raw: +48%
OI Skew Magnitude
≥15%|OI skew| 8.1% — balanced
Volume-OI Alignment
Same sign, |vol skew| ≥10%Vol skew -64.4%, OI skew +8.1% — divergent (opposite)
Conviction Quality
≥2/3 conditions0-DTE 58%, far-OTM 15%, avg DTE 30
OI Momentum
|change| ≥3%OI change +0.0% (5d) — stable
Smart Money Flow
|weighted flow| ≥20%ITM: +44%, ATM: +71%, OTM: -24% — strong bullish (ITM/ATM aligned)
Sector Relative≤40% or ≥60%
Sector P/C percentile 96% — very bearish vs sector
Activity
Unusual activity?
3.2
QuietActive
Detects volume surges,
block trades
, and unusual options activity that may signal moves.Risk Checks2/9 checks passed
Volume Surge
≥1.5xVolume 0.4x avg — normal
Turnover Rate
≥15%Vol/OI 1.0% — 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 +0.7% (5d) — stable
Sector Relative≥60%
Sector activity percentile 9% — quiet vs sector
Trade Quality
≥30%Large trade volume 30% — institutional presence
Execution Urgency
≥60%Aggressive execution 38% — patient
Flow Conviction
≥30Conviction +39 (bullish) — moderate
Liquidity
Can I trade efficiently?
3.6
IlliquidLiquid
Evaluates
bid-ask spreads
, volume depth, and open interest for trade execution quality.Risk Checks4/8 checks passed
Tradeable Spread
≤5.0%Spread 24.0% — wide
Adequate OI
≥10,000OI 107,106 — deep
Active Volume
≥500Volume 1,029/day — adequate
Reasonable Cost
≤$0.50$1.20 to cross — expensive
Strike Coverage
≥5 strikes0 liquid strikes — limited options
Sector Relative≤40%
Sector spread percentile 19% — much tighter than sector
Order Book Depth
≥100 contractsDepth 127.6 contracts (bid:68.8 ask:58.8) — adequate
Execution Quality
<1.0%Avg slippage 7.93% — poor
Timing
Is now a good time?
7.8
RiskyFavorable
Considers earnings proximity,
time decay
, and event calendar for optimal entry timing.Risk Checks8/9 checks passed
Term Structure Clarity
|slope| ≥5%Slope -7.3% — contango
IV Percentile Clarity
<30 or >70IV percentile 11% — buyer opportunity
Event Detection
≥10pts kinkIV kink 0.2pts — no clear event
Theta/Vega Clarity
<0.5 or >2.0θ/ν ratio 278.19 — favors income trades
Expiration Distribution
≥3 expirations5 liquid expirations — flexible
Event Risk
≥60% (safe)safe window: No events detected
Spread Momentum
<1.2 ratioSpread ratio 1.00x — stable
Flow Momentum
≥25% strength + ≥50% consistencyFlow +39% @ 70% consistency — moderate (bullish)
Smart Money Timing
≥40 composite scoreScore 60 (ITM 20% + inst 30%) — HIGH institutional
Directional Strategy Fit
Option Buyers
Long Calls6.6
bullishIV cheap, mixed flow
Long Puts6.1
bearishIV cheap, mixed flow
Premium Sellers
Cash-Secured Put4.5
bullishIV too cheap, mixed flow
Covered Call4.0
bearishIV too cheap, mixed flow
For educational purposes only. Not investment advice.