APLDApplied Digital Corporation Common Stock
Options Analysis Report•SERVICES-COMPUTER PROCESSING & DATA PREPARATION
Market Cap $9.2B|NASDAQ
● 2026-04-29$32.69
BULLISH
Analysis: 2026-04-28 EOD data
1Y +619.9%YTD +16.3%7D -10.1%
Options Vol
80,221
30D
Implied Move
±32.1%
IV Rank
40%
APLD Options Overview
IV is elevated with unusual activity. Conditions favor premium sellers.
REWARDS
RISK ANALYSIS
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Value
Is IV priced right?
3.2
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 95.3% — elevated vs history
IV/HV Ratio
<1.05xIV/HV 1.11x — IV premium over HV
Sector Relative≤50%
Sector percentile 92% — above sector median
Term Structure
<1.1xFront/Back 1.26x — backwardation
Skew Normal
<1.25xPut/Call IV 1.16x — elevated
Absolute IV
<80%ATM IV 109.9% — crisis-level IV
Spread-Adjusted Value
<80%Effective IV 128.1% (ATM 109.9% + spread 9.1% + bias) — expensive
Execution Efficiency
<3.0%Total drag 12.41% (spread 9.11% + slippage 3.30%) — high friction
Vega Efficiency
≥5.0Vega efficiency 10.74 (vega 9.785 / spread 9.11%) — efficient
Sentiment
Bullish or bearish?
6.4
BearishBullish
Analyzes
put/call ratios
, open interest skew
, and flow direction to determine market bias.Risk ChecksNeutral - Moderate signal (Conviction: -3%, Raw: -1%)
Flow Direction
|net sentiment| ≥25%Conviction-weighted: -3% (neutral) — Raw: -1%
OI Skew Magnitude
≥15%|OI skew| 32.1% — call-heavy
Volume-OI Alignment
Same sign, |vol skew| ≥10%Vol skew +34.1%, OI skew +32.1% — aligned
Conviction Quality
≥2/3 conditions0-DTE 0%, far-OTM 15%, avg DTE 30
OI Momentum
|change| ≥3%OI change +0.0% (5d) — stable
Smart Money Flow
|weighted flow| ≥20%ITM: +1%, ATM: +18%, OTM: -6% — neutral (ITM/ATM aligned)
Sector Relative≤40% or ≥60%
Sector P/C percentile 48% — neutral vs sector
Activity
Unusual activity?
4.3
QuietActive
Detects volume surges,
block trades
, and unusual options activity that may signal moves.Risk Checks2/9 checks passed
Volume Surge
≥1.5xVolume 0.7x avg — normal
Turnover Rate
≥15%Vol/OI 9.8% — 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 +7.7% (5d) — building
Sector Relative≥60%
Sector activity percentile 85% — very active vs sector
Trade Quality
≥30%Large trade volume 25% — mixed
Execution Urgency
≥60%Aggressive execution 41% — patient
Flow Conviction
≥30Conviction -3 (bearish) — mixed
Liquidity
Can I trade efficiently?
5.0
IlliquidLiquid
Evaluates
bid-ask spreads
, volume depth, and open interest for trade execution quality.Risk Checks4/8 checks passed
Tradeable Spread
≤5.0%Spread 9.1% — wide
Adequate OI
≥10,000OI 822,711 — deep
Active Volume
≥500Volume 80,221/day — active
Reasonable Cost
≤$0.50$0.46 to cross — cheap
Strike Coverage
≥5 strikes0 liquid strikes — limited options
Sector Relative≤40%
Sector spread percentile 95% — much wider than sector
Order Book Depth
≥100 contractsDepth 535.1 contracts (bid:316.5 ask:218.6) — deep
Execution Quality
<1.0%Avg slippage 3.30% — poor
Timing
Is now a good time?
7.4
RiskyFavorable
Considers earnings proximity,
time decay
, and event calendar for optimal entry timing.Risk Checks7/9 checks passed
Term Structure Clarity
|slope| ≥5%Slope +26.5% — backwardation
IV Percentile Clarity
<30 or >70IV percentile 95% — seller opportunity
Event Detection
≥10pts kinkIV kink 24.1pts — event priced
Theta/Vega Clarity
<0.5 or >2.0θ/ν ratio 499.23 — favors income trades
Expiration Distribution
≥3 expirations5 liquid expirations — flexible
Event Risk
≥60% (safe)HIGH RISK: FOMC in 0d (HIGH)
Spread Momentum
<1.2 ratioSpread ratio 1.00x — stable
Flow Momentum
≥25% strength + ≥50% consistencyFlow -3% @ 51% consistency — unclear
Smart Money Timing
≥40 composite scoreScore 55 (ITM 20% + inst 25%) — moderate institutional
Directional Strategy Fit
Option Buyers
Long Calls5.2
bullishIV expensive, bullish flow
Long Puts4.2
bearishIV expensive, bullish flow
Premium Sellers
Cash-Secured Put6.5
bullishIV rich premium, bullish flow
Covered Call5.4
bearishIV rich premium, bullish flow
For educational purposes only. Not investment advice.