ALTAltimmune, Inc. Common Stock
Options Analysis Report•PHARMACEUTICAL PREPARATIONS
Market Cap $455M|NASDAQ
● 2026-04-17$3.50
BULLISH
Analysis: 2026-04-16 EOD data
1Y -26.9%YTD -0.3%7D +8.0%
Options Vol
2,139
30D
Implied Move
±35.3%
IV Rank
45%
ALT Options Overview
IV is elevated with bullish flow. Conditions favor premium sellers.
REWARDS
RISK ANALYSIS
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Value
Is IV priced right?
1.9
ExpensiveCheap
Measures whether options are cheap, fair, or rich relative to historical and peer
IV
levels.Risk Checks2/9 checks passed
IV Rank
≤35%IV Rank 97.0% — elevated vs history
IV/HV Ratio
<1.05xIV/HV 2.31x — IV premium over HV
Sector Relative≤50%
Sector percentile 88% — above sector median
Term Structure
<1.1xFront/Back 0.61x — contango
Skew Normal
<1.25xPut/Call IV 1.16x — elevated
Absolute IV
<80%ATM IV 135.5% — crisis-level IV
Spread-Adjusted Value
<80%Effective IV 255.7% (ATM 135.5% + spread 60.1% + bias) — expensive
Execution Efficiency
<3.0%Total drag 74.84% (spread 60.12% + slippage 14.72%) — high friction
Vega Efficiency
≥5.0Vega efficiency 0.01 (vega 0.073 / spread 60.12%) — spread drag
Sentiment
Bullish or bearish?
7.0
BearishBullish
Analyzes
put/call ratios
, open interest skew
, and flow direction to determine market bias.Risk ChecksBullish - Strong signal (Conviction: +13%, Raw: +16%)
Flow Direction
|net sentiment| ≥25%Conviction-weighted: +13% (bullish) — Raw: +16%
OI Skew Magnitude
≥15%|OI skew| 81.7% — call-heavy
Volume-OI Alignment
Same sign, |vol skew| ≥10%Vol skew +79.2%, OI skew +81.7% — aligned
Conviction Quality
≥2/3 conditions0-DTE 10%, far-OTM 15%, avg DTE 30
OI Momentum
|change| ≥3%OI change +0.0% (5d) — stable
Smart Money Flow
|weighted flow| ≥20%ITM: -21%, ATM: +7%, OTM: +22% — neutral (ITM/ATM divergent)
Sector Relative≤40% or ≥60%
Sector P/C percentile 24% — very bullish vs sector
Activity
Unusual activity?
2.5
QuietActive
Detects volume surges,
block trades
, and unusual options activity that may signal moves.Risk Checks0/9 checks passed
Volume Surge
≥1.5xVolume 0.6x avg — normal
Turnover Rate
≥15%Vol/OI 1.8% — 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 +2.4% (5d) — building
Sector Relative≥60%
Sector activity percentile 50% — neutral vs sector
Trade Quality
≥30%Large trade volume 5% — mostly retail
Execution Urgency
≥60%Aggressive execution 14% — patient
Flow Conviction
≥30Conviction +13 (bullish) — mixed
Liquidity
Can I trade efficiently?
3.1
IlliquidLiquid
Evaluates
bid-ask spreads
, volume depth, and open interest for trade execution quality.Risk Checks3/8 checks passed
Tradeable Spread
≤5.0%Spread 60.1% — wide
Adequate OI
≥10,000OI 119,948 — deep
Active Volume
≥500Volume 2,139/day — adequate
Reasonable Cost
≤$0.50$3.01 to cross — expensive
Strike Coverage
≥5 strikes0 liquid strikes — limited options
Sector Relative≤40%
Sector spread percentile 95% — much wider than sector
Order Book Depth
≥100 contractsDepth 922.7 contracts (bid:219.0 ask:703.7) — deep
Execution Quality
<1.0%Avg slippage 14.72% — poor
Timing
Is now a good time?
7.7
RiskyFavorable
Considers earnings proximity,
time decay
, and event calendar for optimal entry timing.Risk Checks6/9 checks passed
Term Structure Clarity
|slope| ≥5%Slope -39.1% — contango
IV Percentile Clarity
<30 or >70IV percentile 97% — seller opportunity
Event Detection
≥10pts kinkIV kink -45.6pts — no clear event
Theta/Vega Clarity
<0.5 or >2.0θ/ν ratio 2.27 — favors income trades
Expiration Distribution
≥3 expirations3 liquid expirations — flexible
Event Risk
≥60% (safe)safe window: Earnings in 25d (low risk)
Spread Momentum
<1.2 ratioSpread ratio 1.00x — stable
Flow Momentum
≥25% strength + ≥50% consistencyFlow +13% @ 57% consistency — unclear
Smart Money Timing
≥40 composite scoreScore 35 (ITM 20% + inst 5%) — retail dominated
Directional Strategy Fit
Option Buyers
Long Calls4.7
bullishIV expensive, bullish flow
Long Puts3.4
bearishIV expensive, bullish flow
Premium Sellers
Cash-Secured Put7.0
bullishIV rich premium, bullish flow
Covered Call5.3
bearishIV rich premium, bullish flow
For educational purposes only. Not investment advice.