unusual activity. No clear edge detected.
Is IV priced right?
Measures whether options are cheap, fair, or rich relative to historical and peer
IV Rank 46.9% — elevated vs history
IV/HV 1.23x — IV premium over HV
Sector percentile 60% — above sector median
Front/Back 1.03x — flat
Put/Call IV 1.16x — elevated
ATM IV 41.8% — normal range
Effective IV 77.8% (ATM 41.8% + spread 18.0% + bias) — fair
Total drag 24.76% (spread 18.01% + slippage 6.75%) — high friction
Vega efficiency 20.79 (vega 37.446 / spread 18.01%) — efficient
Bullish or bearish?
Analyzes
Conviction-weighted: +25% (bullish) — Raw: +23%
|OI skew| 10.6% — balanced
Vol skew +9.8%, OI skew -10.6% — divergent (opposite)
0-DTE 23%, far-OTM 15%, avg DTE 30
OI change +0.0% (5d) — stable
ITM: -44%, ATM: -20%, OTM: +28% — strong bearish (ITM/ATM aligned)
Sector P/C percentile 31% — bullish vs sector
Unusual activity?
Detects volume surges,
Volume 1.2x avg — normal
Vol/OI 13.4% — normal turnover
Top 3 strikes = 50% — dispersed
1 day(s) elevated — may be one-day event
OI change +16.7% (5d) — building
Sector activity percentile 88% — very active vs sector
Large trade volume 74% — heavy institutional
Aggressive execution 24% — patient
Conviction +25 (bullish) — mixed
Can I trade efficiently?
Evaluates
Spread 18.0% — wide
OI 649,820 — deep
Volume 87,137/day — active
$0.90 to cross — expensive
0 liquid strikes — limited options
Sector spread percentile 66% — wider than sector
Depth 1,055.7 contracts (bid:598.7 ask:457.0) — deep
Avg slippage 6.75% — poor
Is now a good time?
Considers earnings proximity,
Slope +2.6% — flat/unclear
IV percentile 47% — neutral
IV kink 2.5pts — no clear event
θ/ν ratio 2582.51 — favors income trades
5 liquid expirations — flexible
safe window: No earnings detected
Spread ratio 1.00x — stable
Flow +25% @ 62% consistency — moderate (bullish)
Score 104 (ITM 20% + inst 74%) — HIGH institutional
For educational purposes only. Not investment advice.