Mixed signals. No clear edge detected.
Is IV priced right?
Measures whether options are cheap, fair, or rich relative to historical and peer
IV Rank 50.0% — elevated vs history
IV/HV 1.00x — IV ≤ HV
Sector percentile 50% — below sector median
Front/Back 1.06x — backwardation
Put/Call IV 1.00x — normal
ATM IV 0.0% — normal range
Effective IV 86.6% (ATM 0.0% + spread 43.3% + bias) — expensive
Total drag 58.17% (spread 43.28% + slippage 14.89%) — high friction
Vega efficiency 0.00 (vega 0.000 / spread 43.28%) — spread drag
Bullish or bearish?
Analyzes
Conviction-weighted: -10% (bearish) — Raw: -18%
|OI skew| 19.8% — call-heavy
Vol skew +78.2%, OI skew +19.8% — aligned
0-DTE 3%, far-OTM 15%, avg DTE 30
OI change +0.0% (5d) — stable
ITM: -43%, ATM: +25%, OTM: -20% — bearish (ITM/ATM divergent)
Sector P/C percentile 22% — very bullish vs sector
Unusual activity?
Detects volume surges,
Volume 0.6x avg — normal
Vol/OI 1.6% — normal turnover
Top 3 strikes = 50% — dispersed
1 day(s) elevated — may be one-day event
OI change +2.9% (5d) — building
Sector activity percentile 42% — neutral vs sector
Large trade volume 0% — mostly retail
Aggressive execution 56% — patient
Conviction -10 (bearish) — mixed
Can I trade efficiently?
Evaluates
Spread 43.3% — wide
OI 22,441 — adequate
Volume 348/day — thin
$2.16 to cross — expensive
0 liquid strikes — limited options
Sector spread percentile 0% — much tighter than sector
Depth 122.9 contracts (bid:70.5 ask:52.4) — adequate
Avg slippage 14.89% — poor
Is now a good time?
Considers earnings proximity,
Slope +6.4% — backwardation
IV percentile 50% — neutral
IV kink 3.8pts — no clear event
θ/ν ratio 1.00 — favors mixed
3 liquid expirations — flexible
caution advised: Earnings in 4d (elevated risk)
Spread ratio 1.00x — stable
Flow -10% @ 55% consistency — unclear
Score 30 (ITM 20% + inst 0%) — retail dominated
For educational purposes only. Not investment advice.