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AONAon plc Class A

Options Analysis Report•INSURANCE AGENTS, BROKERS & SERVICE
Market Cap $75.4B|NYSE
● 2026-08-31$355.40
NEUTRAL
Analysis: 2026-08-28 EOD data
1Y -4.5%YTD +3.2%7D -1.0%
82
30D
±6.2%
12%

AON Options Overview

IV is low. No clear edge detected.

REWARDS

RISK ANALYSIS

5.0VALUESENTIMENTACTIVITYLIQUIDITYTIMING

Snowflake Analysis

Favorable conditions for option buyers

Learn
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AON Gamma Walls

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Value

Is IV priced right?

7.1
ExpensiveCheap

Measures whether options are cheap, fair, or rich relative to historical and peer

levels.

Risk Checks6/9 checks passed
≤35%

IV Rank 24.5% — cheap vs history

<1.05x

IV/HV 1.38x — IV premium over HV

Sector Relative≤50%

Sector percentile 44% — below sector median

<1.1x

Front/Back 0.84x — contango

<1.25x

Put/Call IV 1.16x — elevated

<80%

ATM IV 24.5% — normal range

<80%

Effective IV 81.7% (ATM 24.5% + spread 28.6% + bias) — expensive

<3.0%

Total drag 45.26% (spread 28.61% + slippage 16.65%) — high friction

≥5.0

Vega efficiency 29.62 (vega 84.733 / spread 28.61%) — efficient

Sentiment

Bullish or bearish?

5.0
BearishBullish

Analyzes

,
, and flow direction to determine market bias.

Risk ChecksVery Bearish - Strong signal (Conviction: -41%, Raw: -36%)
|net sentiment| ≥25%

Conviction-weighted: -41% (strong bearish) — Raw: -36%

≥15%

|OI skew| 25.6% — call-heavy

Same sign, |vol skew| ≥10%

Vol skew +31.7%, OI skew +25.6% — aligned

≥2/3 conditions

0-DTE 0%, far-OTM 15%, avg DTE 30

|change| ≥3%

OI change +0.0% (5d) — stable

|weighted flow| ≥20%

ITM: +0%, ATM: +33%, OTM: -41% — bullish (ITM/ATM divergent)

Sector Relative≤40% or ≥60%

Sector P/C percentile 37% — bullish vs sector

Activity

Unusual activity?

2.6
QuietActive

Detects volume surges,

, and unusual options activity that may signal moves.

Risk Checks1/8 checks passed
≥1.5x

Volume 0.4x avg — normal

≥15%

Vol/OI 1.1% — normal turnover

≥2 days

1 day(s) elevated — may be one-day event

≥5%

OI change +3.2% (5d) — building

Sector Relative≥60%

Sector activity percentile 31% — below sector avg

≥30%

Large trade volume 0% — mostly retail

≥60%

Aggressive execution 33% — patient

≥30

Conviction -41 (bearish) — moderate

Liquidity

Can I trade efficiently?

2.7
IlliquidLiquid

Evaluates

, volume depth, and open interest for trade execution quality.

Risk Checks0/8 checks passed
≤5.0%

Spread 28.6% — wide

≥10,000

OI 7,670 — thin

≥500

Volume 82/day — thin

≤$0.50

$1.43 to cross — expensive

≥5 strikes

0 liquid strikes — limited options

Sector Relative≤40%

Sector spread percentile 45% — neutral vs sector

≥100 contracts

Depth 14.5 contracts (bid:6.8 ask:7.7) — thin

<1.0%

Avg slippage 16.65% — poor

Timing

Is now a good time?

7.4
RiskyFavorable

Considers earnings proximity,

, and event calendar for optimal entry timing.

Risk Checks7/9 checks passed
|slope| ≥5%

Slope -15.9% — contango

<30 or >70

IV percentile 24% — buyer opportunity

≥10pts kink

IV kink -3.3pts — no clear event

<0.5 or >2.0

θ/ν ratio 863.74 — favors income trades

≥3 expirations

4 liquid expirations — flexible

≥60% (safe)

safe window: No events detected

<1.2 ratio

Spread ratio 1.00x — stable

≥25% strength + ≥50% consistency

Flow -41% @ 71% consistency — STRONG directional (bearish)

≥40 composite score

Score 30 (ITM 20% + inst 0%) — retail dominated

Directional Strategy Fit

Option Buyers
Long Calls5.8
bullishIV cheap, mixed flow
Long Puts5.7
bearishIV cheap, mixed flow
Premium Sellers
Cash-Secured Put4.3
bullishIV too cheap, mixed flow
Covered Call4.3
bearishIV too cheap, mixed flow

For educational purposes only. Not investment advice.

The Options Desk tracks the move options price into every US earnings report the week of Aug 31, next to how much each stock has actually moved on its past prints — plus the SPY, QQQ and IWM expected ranges and the gamma walls that box them in.

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