APPApplovin Corporation Class A Common Stock
APP Options Overview
IV is elevated. Conditions favor premium sellers.
REWARDS
RISK ANALYSIS
APP Gamma Walls
Value
Is IV priced right?
Measures whether options are cheap, fair, or rich relative to historical and peer
IV Rank 96.1% — elevated vs history
IV/HV 1.87x — IV premium over HV
Sector percentile 85% — above sector median
Front/Back 0.81x — contango
Put/Call IV 1.16x — elevated
ATM IV 60.8% — normal range
Effective IV 76.6% (ATM 60.8% + spread 7.9% + bias) — fair
Total drag 11.61% (spread 7.88% + slippage 3.73%) — high friction
Vega efficiency 8.16 (vega 6.426 / spread 7.88%) — efficient
Sentiment
Bullish or bearish?
Analyzes
Conviction-weighted: +18% (bullish) — Raw: +14%
|OI skew| 13.6% — balanced
Vol skew -1.4%, OI skew +13.6% — divergent (opposite)
0-DTE 35%, far-OTM 15%, avg DTE 30
OI change +0.0% (5d) — stable
ITM: +52%, ATM: +15%, OTM: +9% — strong bullish (ITM/ATM aligned)
Sector P/C percentile 68% — bearish vs sector
Activity
Unusual activity?
Detects volume surges,
Volume 1.1x avg — normal
Vol/OI 11.3% — normal turnover
1 day(s) elevated — may be one-day event
OI change +1.9% (5d) — stable
Sector activity percentile 83% — very active vs sector
Large trade volume 16% — mixed
Aggressive execution 21% — patient
Conviction +18 (bullish) — mixed
Liquidity
Can I trade efficiently?
Evaluates
Spread 7.9% — wide
OI 365,820 — deep
Volume 41,439/day — active
$0.39 to cross — cheap
0 liquid strikes — limited options
Sector spread percentile 85% — much wider than sector
Depth 173.0 contracts (bid:86.1 ask:86.9) — adequate
Avg slippage 3.73% — poor
Timing
Is now a good time?
Considers earnings proximity,
Slope -18.6% — contango
IV percentile 96% — seller opportunity
IV kink -7.2pts — no clear event
θ/ν ratio 3.08 — favors income trades
5 liquid expirations — flexible
caution advised: FOMC in 5d; CPI in 0d (HIGH)
Spread ratio 1.00x — stable
Flow +18% @ 59% consistency — unclear
Score 46 (ITM 20% + inst 16%) — moderate institutional
Directional Strategy Fit
For educational purposes only. Not investment advice.
The Options Desk tracks the move options price into every US earnings report the week of Sep 7, 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.