Options/ARCT

ARCTArcturus Therapeutics Holdings Inc. Common Stock

Options Analysis Report•PHARMACEUTICAL PREPARATIONS

Market Cap $397M|NASDAQ

● 2026-09-11$13.98

NEUTRAL

Analysis: 2026-09-10 EOD data

1Y -22.5%YTD +123.7%7D -11.6%

Options Vol

261

30D

Implied Move

±8.6%

IV Rank

32%

ARCT Options Overview

Mixed signals. No clear edge detected.

REWARDS

RISK ANALYSIS

Snowflake Analysis

Balanced conditions with no clear edge

Learn

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ARCT Gamma Walls

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Value

Is IV priced right?

6.3

ExpensiveCheap

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

levels.

Risk Checks6/9 checks passed

IV Rank

≤35%

IV Rank 50.0% — elevated vs history

IV/HV Ratio

<1.05x

IV/HV 1.00x — IV ≤ HV

Sector Relative≤50%

Sector percentile 50% — below sector median

Term Structure

<1.1x

Front/Back 1.00x — flat

Skew Normal

<1.25x

Put/Call IV 1.00x — normal

Absolute IV

<80%

ATM IV 0.0% — normal range

Spread-Adjusted Value

<80%

Effective IV 77.3% (ATM 0.0% + spread 38.6% + bias) — fair

Execution Efficiency

<3.0%

Total drag 52.17% (spread 38.64% + slippage 13.53%) — high friction

Vega Efficiency

≥5.0

Vega efficiency 0.00 (vega 0.000 / spread 38.64%) — spread drag

Sentiment

Bullish or bearish?

5.0

BearishBullish

Analyzes

put/call ratios

open interest skew

, and flow direction to determine market bias.

Risk ChecksBullish - Moderate signal (Conviction: +16%, Raw: +10%)

Flow Direction

|net sentiment| ≥25%

Conviction-weighted: +16% (bullish) — Raw: +10%

OI Skew Magnitude

≥15%

|OI skew| 51.6% — call-heavy

Volume-OI Alignment

Same sign, |vol skew| ≥10%

Vol skew -31.0%, OI skew +51.6% — divergent (opposite)

Conviction Quality

≥2/3 conditions

0-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: +4%, ATM: +0%, OTM: +12% — neutral (ITM/ATM divergent)

Sector Relative≤40% or ≥60%

Sector P/C percentile 85% — very bearish vs sector

Activity

Unusual activity?

3.6

QuietActive

Detects volume surges,

block trades

, and unusual options activity that may signal moves.

Risk Checks2/8 checks passed

Volume Surge

≥1.5x

Volume 0.3x avg — normal

Turnover Rate

≥15%

Vol/OI 3.0% — normal turnover

Multi-Day Persistence

≥2 days

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

OI Build

≥5%

OI change +3.0% (5d) — building

Sector Relative≥60%

Sector activity percentile 71% — active vs sector

Trade Quality

≥30%

Large trade volume 38% — institutional presence

Execution Urgency

≥60%

Aggressive execution 49% — patient

Flow Conviction

≥30

Conviction +16 (bullish) — mixed

Liquidity

Can I trade efficiently?

3.2

IlliquidLiquid

Evaluates

bid-ask spreads

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

Risk Checks1/8 checks passed

Tradeable Spread

≤5.0%

Spread 38.6% — wide

Adequate OI

≥10,000

OI 8,690 — thin

Active Volume

≥500

Volume 261/day — thin

Reasonable Cost

≤$0.50

$1.93 to cross — expensive

Strike Coverage

≥5 strikes

0 liquid strikes — limited options

Sector Relative≤40%

Sector spread percentile 0% — much tighter than sector

Order Book Depth

≥100 contracts

Depth 47.8 contracts (bid:28.0 ask:19.8) — thin

Execution Quality

<1.0%

Avg slippage 13.53% — poor

Timing

Is now a good time?

5.3

RiskyFavorable

Considers earnings proximity,

time decay

, and event calendar for optimal entry timing.

Risk Checks3/9 checks passed

Term Structure Clarity

|slope| ≥5%

Slope +0.0% — flat/unclear

IV Percentile Clarity

<30 or >70

IV percentile 50% — neutral

Event Detection

≥10pts kink

IV kink 0.0pts — no clear event

Theta/Vega Clarity

<0.5 or >2.0

θ/ν ratio 1.00 — favors mixed

Expiration Distribution

≥3 expirations

3 liquid expirations — flexible

Event Risk

≥60% (safe)

caution advised: FOMC in 5d; CPI in 0d (HIGH)

Spread Momentum

<1.2 ratio

Spread ratio 1.00x — stable

Flow Momentum

≥25% strength + ≥50% consistency

Flow +16% @ 58% consistency — unclear

Smart Money Timing

≥40 composite score

Score 68 (ITM 20% + inst 38%) — HIGH institutional

Directional Strategy Fit

Option Buyers

Long Calls5.2

bullishIV cheap, mixed flow

Long Puts5.2

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 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.

More on ARCT

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