APPApplovin Corporation Class A Common Stock
Options Analysis Report•SERVICES-COMPUTER PROGRAMMING, DATA PROCESSING, ETC.
Market Cap $163.0B|NASDAQ
● 2026-05-15$485.16
BULLISH
Analysis: 2026-05-14 EOD data
1Y +32.3%YTD -21.5%7D +3.5%
Options Vol
49,700
30D
Implied Move
±19.0%
IV Rank
27%
APP Options Overview
IV is elevated with bullish flow. Conditions favor premium sellers.
REWARDS
RISK ANALYSIS
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Value
Is IV priced right?
5.0
ExpensiveCheap
Measures whether options are cheap, fair, or rich relative to historical and peer
IV
levels.Risk Checks4/9 checks passed
IV Rank
≤35%IV Rank 96.2% — elevated vs history
IV/HV Ratio
<1.05xIV/HV 1.10x — IV premium over HV
Sector Relative≤50%
Sector percentile 81% — above sector median
Term Structure
<1.1xFront/Back 1.01x — flat
Skew Normal
<1.25xPut/Call IV 1.16x — elevated
Absolute IV
<80%ATM IV 70.0% — normal range
Spread-Adjusted Value
<80%Effective IV 89.3% (ATM 70.0% + spread 9.7% + bias) — expensive
Execution Efficiency
<3.0%Total drag 15.05% (spread 9.67% + slippage 5.38%) — high friction
Vega Efficiency
≥5.0Vega efficiency 139.14 (vega 134.549 / spread 9.67%) — efficient
Sentiment
Bullish or bearish?
7.3
BearishBullish
Analyzes
put/call ratios
, open interest skew
, and flow direction to determine market bias.Risk ChecksBullish - Strong signal (Conviction: +24%, Raw: +25%)
Flow Direction
|net sentiment| ≥25%Conviction-weighted: +24% (bullish) — Raw: +25%
OI Skew Magnitude
≥15%|OI skew| 12.1% — balanced
Volume-OI Alignment
Same sign, |vol skew| ≥10%Vol skew +45.2%, OI skew +12.1% — aligned
Conviction Quality
≥2/3 conditions0-DTE 52%, far-OTM 15%, avg DTE 30
OI Momentum
|change| ≥3%OI change +0.0% (5d) — stable
Smart Money Flow
|weighted flow| ≥20%ITM: +26%, ATM: +24%, OTM: +24% — strong bullish (ITM/ATM aligned)
Sector Relative≤40% or ≥60%
Sector P/C percentile 30% — very bullish vs sector
Activity
Unusual activity?
5.2
QuietActive
Detects volume surges,
block trades
, and unusual options activity that may signal moves.Risk Checks2/9 checks passed
Volume Surge
≥1.5xVolume 1.1x avg — normal
Turnover Rate
≥15%Vol/OI 14.4% — 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 +10.0% (5d) — building
Sector Relative≥60%
Sector activity percentile 84% — very active vs sector
Trade Quality
≥30%Large trade volume 11% — mostly retail
Execution Urgency
≥60%Aggressive execution 36% — patient
Flow Conviction
≥30Conviction +24 (bullish) — mixed
Liquidity
Can I trade efficiently?
4.5
IlliquidLiquid
Evaluates
bid-ask spreads
, volume depth, and open interest for trade execution quality.Risk Checks4/8 checks passed
Tradeable Spread
≤5.0%Spread 9.7% — wide
Adequate OI
≥10,000OI 344,553 — deep
Active Volume
≥500Volume 49,700/day — active
Reasonable Cost
≤$0.50$0.48 to cross — cheap
Strike Coverage
≥5 strikes0 liquid strikes — limited options
Sector Relative≤40%
Sector spread percentile 82% — much wider than sector
Order Book Depth
≥100 contractsDepth 128.4 contracts (bid:73.7 ask:54.7) — adequate
Execution Quality
<1.0%Avg slippage 5.38% — poor
Timing
Is now a good time?
6.7
RiskyFavorable
Considers earnings proximity,
time decay
, and event calendar for optimal entry timing.Risk Checks6/9 checks passed
Term Structure Clarity
|slope| ≥5%Slope +1.3% — flat/unclear
IV Percentile Clarity
<30 or >70IV percentile 96% — seller opportunity
Event Detection
≥10pts kinkIV kink 3.9pts — no clear event
Theta/Vega Clarity
<0.5 or >2.0θ/ν ratio 498.52 — 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 +24% @ 62% consistency — unclear
Smart Money Timing
≥40 composite scoreScore 41 (ITM 20% + inst 11%) — moderate institutional
Directional Strategy Fit
Option Buyers
Long Calls6.0
bullishIV fair, bullish flow
Long Puts4.4
bearishIV fair, bullish flow
Premium Sellers
Cash-Secured Put5.8
bullishIV fair, bullish flow
Covered Call4.4
bearishIV fair, bullish flow
For educational purposes only. Not investment advice.