AMGNAmgen Inc
Options Analysis Report•BIOLOGICAL PRODUCTS, (NO DIAGNOSTIC SUBSTANCES)
Market Cap $181.6B|NASDAQ
● 2026-05-15$336.23
NEUTRAL
Analysis: 2026-05-14 EOD data
1Y +23.8%YTD +2.6%7D +1.4%
Options Vol
39,081
30D
Implied Move
±6.8%
IV Rank
30%
AMGN Options Overview
IV is low with bullish flow and unusual activity. 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 20.6% — cheap vs history
IV/HV Ratio
<1.05xIV/HV 1.06x — IV premium over HV
Sector Relative≤50%
Sector percentile 7% — below sector median
Term Structure
<1.1xFront/Back 0.90x — contango
Skew Normal
<1.25xPut/Call IV 1.16x — elevated
Absolute IV
<80%ATM IV 27.9% — normal range
Spread-Adjusted Value
<80%Effective IV 49.8% (ATM 27.9% + spread 10.9% + bias) — excellent value
Execution Efficiency
<3.0%Total drag 18.63% (spread 10.95% + slippage 7.68%) — high friction
Vega Efficiency
≥5.0Vega efficiency 18.09 (vega 19.803 / spread 10.95%) — efficient
Sentiment
Bullish or bearish?
4.4
BearishBullish
Analyzes
put/call ratios
, open interest skew
, and flow direction to determine market bias.Risk ChecksVery Bearish - Moderate signal (Conviction: -50%, Raw: -52%)
Flow Direction
|net sentiment| ≥25%Conviction-weighted: -50% (strong bearish) — Raw: -52%
OI Skew Magnitude
≥15%|OI skew| 2.4% — balanced
Volume-OI Alignment
Same sign, |vol skew| ≥10%Vol skew +89.8%, OI skew +2.4% — aligned
Conviction Quality
≥2/3 conditions0-DTE 71%, far-OTM 15%, avg DTE 30
OI Momentum
|change| ≥3%OI change +0.0% (5d) — stable
Smart Money Flow
|weighted flow| ≥20%ITM: -66%, ATM: -10%, OTM: -8% — strong bearish (ITM/ATM aligned)
Sector Relative≤40% or ≥60%
Sector P/C percentile 3% — very bullish vs sector
Activity
Unusual activity?
7.1
QuietActive
Detects volume surges,
block trades
, and unusual options activity that may signal moves.Risk Checks5/9 checks passed
Volume Surge
≥1.5xVolume 4.3x avg — hot
Turnover Rate
≥15%Vol/OI 36.6% — high 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 +0.4% (5d) — stable
Sector Relative≥60%
Sector activity percentile 98% — very active vs sector
Trade Quality
≥30%Large trade volume 70% — heavy institutional
Execution Urgency
≥60%Aggressive execution 23% — patient
Flow Conviction
≥30Conviction -50 (bearish) — moderate
Liquidity
Can I trade efficiently?
5.1
IlliquidLiquid
Evaluates
bid-ask spreads
, volume depth, and open interest for trade execution quality.Risk Checks3/8 checks passed
Tradeable Spread
≤5.0%Spread 10.9% — wide
Adequate OI
≥10,000OI 106,794 — deep
Active Volume
≥500Volume 39,081/day — active
Reasonable Cost
≤$0.50$0.55 to cross — expensive
Strike Coverage
≥5 strikes3 liquid strikes — limited options
Sector Relative≤40%
Sector spread percentile 10% — much tighter than sector
Order Book Depth
≥100 contractsDepth 67.0 contracts (bid:27.1 ask:39.9) — thin
Execution Quality
<1.0%Avg slippage 7.68% — poor
Timing
Is now a good time?
7.7
RiskyFavorable
Considers earnings proximity,
time decay
, and event calendar for optimal entry timing.Risk Checks8/9 checks passed
Term Structure Clarity
|slope| ≥5%Slope -10.1% — contango
IV Percentile Clarity
<30 or >70IV percentile 21% — buyer opportunity
Event Detection
≥10pts kinkIV kink -0.2pts — no clear event
Theta/Vega Clarity
<0.5 or >2.0θ/ν ratio 68.48 — 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 -50% @ 75% consistency — STRONG directional (bearish)
Smart Money Timing
≥40 composite scoreScore 100 (ITM 20% + inst 70%) — HIGH institutional
Directional Strategy Fit
Option Buyers
Long Calls6.3
bullishIV cheap, mixed flow
Long Puts6.7
bearishIV cheap, mixed flow
Premium Sellers
Cash-Secured Put4.3
bullishIV too cheap, mixed flow
Covered Call4.7
bearishIV too cheap, mixed flow
For educational purposes only. Not investment advice.