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APPSDigital Turbine, Inc.

Options Analysis Report•PATENT OWNERS & LESSORS
Market Cap $1.3B|NASDAQ
● 2026-08-31$11.09
BULLISH
Analysis: 2026-08-28 EOD data
1Y +167.2%YTD +132.0%7D +3.3%
1,399
30D
±21.7%
16%

APPS Options Overview

IV is elevated with bullish flow. No clear edge detected.

REWARDS

RISK ANALYSIS

5.1VALUESENTIMENTACTIVITYLIQUIDITYTIMING

Snowflake Analysis

Favorable conditions for premium sellers

Learn
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APPS Gamma Walls

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Value

Is IV priced right?

4.9
ExpensiveCheap

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

levels.

Risk Checks3/9 checks passed
≤35%

IV Rank 94.4% — elevated vs history

<1.05x

IV/HV 0.63x — IV ≤ HV

Sector Relative≤50%

Sector percentile 92% — above sector median

<1.1x

Front/Back 0.81x — contango

<1.25x

Put/Call IV 1.16x — elevated

<80%

ATM IV 87.7% — crisis-level IV

<80%

Effective IV 110.4% (ATM 87.7% + spread 11.3% + bias) — expensive

<3.0%

Total drag 15.54% (spread 11.34% + slippage 4.20%) — high friction

≥5.0

Vega efficiency 2.67 (vega 3.031 / spread 11.34%) — spread drag

Sentiment

Bullish or bearish?

5.6
BearishBullish

Analyzes

,
, and flow direction to determine market bias.

Risk ChecksBearish - Strong signal (Conviction: -25%, Raw: -32%)
|net sentiment| ≥25%

Conviction-weighted: -25% (bearish) — Raw: -32%

≥15%

|OI skew| 56.3% — call-heavy

Same sign, |vol skew| ≥10%

Vol skew +70.8%, OI skew +56.3% — 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: +48%, ATM: +30%, OTM: -47% — strong bullish (ITM/ATM aligned)

Sector Relative≤40% or ≥60%

Sector P/C percentile 23% — very bullish vs sector

Activity

Unusual activity?

3.6
QuietActive

Detects volume surges,

, and unusual options activity that may signal moves.

Risk Checks2/8 checks passed
≥1.5x

Volume 0.3x avg — normal

≥15%

Vol/OI 1.6% — normal turnover

≥2 days

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

≥5%

OI change +8.9% (5d) — building

Sector Relative≥60%

Sector activity percentile 39% — below sector avg

≥30%

Large trade volume 34% — institutional presence

≥60%

Aggressive execution 39% — patient

≥30

Conviction -25 (bearish) — mixed

Liquidity

Can I trade efficiently?

3.6
IlliquidLiquid

Evaluates

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

Risk Checks3/8 checks passed
≤5.0%

Spread 11.3% — wide

≥10,000

OI 86,836 — deep

≥500

Volume 1,399/day — adequate

≤$0.50

$0.57 to cross — expensive

≥5 strikes

1 liquid strikes — limited options

Sector Relative≤40%

Sector spread percentile 95% — much wider than sector

≥100 contracts

Depth 938.3 contracts (bid:536.9 ask:401.4) — deep

<1.0%

Avg slippage 4.20% — poor

Timing

Is now a good time?

7.6
RiskyFavorable

Considers earnings proximity,

, and event calendar for optimal entry timing.

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

Slope -19.4% — contango

<30 or >70

IV percentile 94% — seller opportunity

≥10pts kink

IV kink -11.3pts — no clear event

<0.5 or >2.0

θ/ν ratio 383.63 — favors income trades

≥3 expirations

3 liquid expirations — flexible

≥60% (safe)

safe window: No events detected

<1.2 ratio

Spread ratio 1.00x — stable

≥25% strength + ≥50% consistency

Flow -25% @ 62% consistency — unclear

≥40 composite score

Score 64 (ITM 20% + inst 34%) — HIGH institutional

Directional Strategy Fit

Option Buyers
Long Calls6.2
bullishIV fair, mixed flow
Long Puts4.9
bearishIV fair, mixed flow
Premium Sellers
Cash-Secured Put5.4
bullishIV fair, mixed flow
Covered Call4.9
bearishIV fair, 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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