AJGArthur J. Gallagher & Co.
Options Analysis Report•INSURANCE AGENTS, BROKERS & SERVICE
Market Cap $50.8B|NYSE
● 2026-05-15$197.68
BULLISH
Analysis: 2026-05-14 EOD data
1Y -41.6%YTD -22.8%7D -0.6%
Options Vol
194
30D
Implied Move
±8.6%
IV Rank
43%
AJG Options Overview
bullish flow. Conditions favor premium sellers.
REWARDS
RISK ANALYSIS
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Value
Is IV priced right?
3.6
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 55.5% — elevated vs history
IV/HV Ratio
<1.05xIV/HV 1.36x — IV premium over HV
Sector Relative≤50%
Sector percentile 82% — above sector median
Term Structure
<1.1xFront/Back 0.97x — contango
Skew Normal
<1.25xPut/Call IV 1.16x — elevated
Absolute IV
<80%ATM IV 36.5% — normal range
Spread-Adjusted Value
<80%Effective IV 63.1% (ATM 36.5% + spread 13.3% + bias) — good value
Execution Efficiency
<3.0%Total drag 18.71% (spread 13.28% + slippage 5.43%) — high friction
Vega Efficiency
≥5.0Vega efficiency 2.78 (vega 3.696 / spread 13.28%) — spread drag
Sentiment
Bullish or bearish?
5.7
BearishBullish
Analyzes
put/call ratios
, open interest skew
, and flow direction to determine market bias.Risk ChecksBearish - Strong signal (Conviction: -24%, Raw: -19%)
Flow Direction
|net sentiment| ≥25%Conviction-weighted: -24% (bearish) — Raw: -19%
OI Skew Magnitude
≥15%|OI skew| 29.7% — call-heavy
Volume-OI Alignment
Same sign, |vol skew| ≥10%Vol skew +52.6%, OI skew +29.7% — aligned
Conviction Quality
≥2/3 conditions0-DTE 21%, far-OTM 15%, avg DTE 30
OI Momentum
|change| ≥3%OI change +0.0% (5d) — stable
Smart Money Flow
|weighted flow| ≥20%ITM: -100%, ATM: -45%, OTM: +39% — strong bearish (ITM/ATM aligned)
Sector Relative≤40% or ≥60%
Sector P/C percentile 34% — bullish vs sector
Activity
Unusual activity?
2.9
QuietActive
Detects volume surges,
block trades
, and unusual options activity that may signal moves.Risk Checks0/9 checks passed
Volume Surge
≥1.5xVolume 0.5x avg — normal
Turnover Rate
≥15%Vol/OI 1.5% — 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 +0.1% (5d) — stable
Sector Relative≥60%
Sector activity percentile 25% — below sector avg
Trade Quality
≥30%Large trade volume 0% — mostly retail
Execution Urgency
≥60%Aggressive execution 56% — patient
Flow Conviction
≥30Conviction -24 (bearish) — mixed
Liquidity
Can I trade efficiently?
2.8
IlliquidLiquid
Evaluates
bid-ask spreads
, volume depth, and open interest for trade execution quality.Risk Checks1/8 checks passed
Tradeable Spread
≤5.0%Spread 13.3% — wide
Adequate OI
≥10,000OI 12,913 — adequate
Active Volume
≥500Volume 194/day — thin
Reasonable Cost
≤$0.50$0.66 to cross — expensive
Strike Coverage
≥5 strikes0 liquid strikes — limited options
Sector Relative≤40%
Sector spread percentile 82% — much wider than sector
Order Book Depth
≥100 contractsDepth 36.4 contracts (bid:18.7 ask:17.7) — thin
Execution Quality
<1.0%Avg slippage 5.43% — poor
Timing
Is now a good time?
6.5
RiskyFavorable
Considers earnings proximity,
time decay
, and event calendar for optimal entry timing.Risk Checks4/9 checks passed
Term Structure Clarity
|slope| ≥5%Slope -3.5% — flat/unclear
IV Percentile Clarity
<30 or >70IV percentile 56% — neutral
Event Detection
≥10pts kinkIV kink -0.4pts — no clear event
Theta/Vega Clarity
<0.5 or >2.0θ/ν ratio 4.33 — favors income trades
Expiration Distribution
≥3 expirations3 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 -24% @ 62% consistency — unclear
Smart Money Timing
≥40 composite scoreScore 30 (ITM 20% + inst 0%) — retail dominated
Directional Strategy Fit
Option Buyers
Long Calls4.6
bullishIV expensive, mixed flow
Long Puts4.2
bearishIV expensive, mixed flow
Premium Sellers
Cash-Secured Put5.4
bullishIV rich premium, mixed flow
Covered Call5.0
bearishIV rich premium, mixed flow
For educational purposes only. Not investment advice.