Options/ARLP

ARLPAlliance Resource Partners LP

Options Analysis Report•BITUMINOUS COAL & LIGNITE SURFACE MINING

Market Cap $3.4B|NASDAQ

● 2026-08-31$26.18

NEUTRAL

Analysis: 2026-08-28 EOD data

1Y +14.0%YTD +12.4%7D -0.8%

Options Vol

376

30D

Implied Move

±8.6%

IV Rank

11%

ARLP Options Overview

Mixed signals. No clear edge detected.

REWARDS

RISK ANALYSIS

Snowflake Analysis

Balanced conditions with no clear edge

Learn

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ARLP Gamma Walls

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Value

Is IV priced right?

6.7

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 36.7% (ATM 0.0% + spread 18.3% + bias) — excellent value

Execution Efficiency

<3.0%

Total drag 25.13% (spread 18.34% + slippage 6.79%) — high friction

Vega Efficiency

≥5.0

Vega efficiency 0.00 (vega 0.000 / spread 18.34%) — spread drag

Sentiment

Bullish or bearish?

3.6

BearishBullish

Analyzes

put/call ratios

open interest skew

, and flow direction to determine market bias.

Risk ChecksVery Bearish - Strong signal (Conviction: -83%, Raw: -88%)

Flow Direction

|net sentiment| ≥25%

Conviction-weighted: -83% (strong bearish) — Raw: -88%

OI Skew Magnitude

≥15%

|OI skew| 53.8% — call-heavy

Volume-OI Alignment

Same sign, |vol skew| ≥10%

Vol skew +96.8%, OI skew +53.8% — aligned

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: +6%, ATM: -88%, OTM: -100% — strong bearish (ITM/ATM divergent)

Sector Relative≤40% or ≥60%

Sector P/C percentile 6% — very bullish vs sector

Activity

Unusual activity?

4.0

QuietActive

Detects volume surges,

block trades

, and unusual options activity that may signal moves.

Risk Checks2/8 checks passed

Volume Surge

≥1.5x

Volume 0.6x avg — normal

Turnover Rate

≥15%

Vol/OI 1.4% — normal turnover

Multi-Day Persistence

≥2 days

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

OI Build

≥5%

OI change +4.2% (5d) — building

Sector Relative≥60%

Sector activity percentile 50% — neutral vs sector

Trade Quality

≥30%

Large trade volume 37% — institutional presence

Execution Urgency

≥60%

Aggressive execution 37% — patient

Flow Conviction

≥30

Conviction -83 (bearish) — strong conviction

Liquidity

Can I trade efficiently?

3.4

IlliquidLiquid

Evaluates

bid-ask spreads

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

Risk Checks3/8 checks passed

Tradeable Spread

≤5.0%

Spread 18.3% — wide

Adequate OI

≥10,000

OI 26,810 — adequate

Active Volume

≥500

Volume 376/day — thin

Reasonable Cost

≤$0.50

$0.92 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 221.89999999999998 contracts (bid:135.2 ask:86.7) — adequate

Execution Quality

<1.0%

Avg slippage 6.79% — poor

Timing

Is now a good time?

6.3

RiskyFavorable

Considers earnings proximity,

time decay

, and event calendar for optimal entry timing.

Risk Checks5/9 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)

safe window: No events detected

Spread Momentum

<1.2 ratio

Spread ratio 1.00x — stable

Flow Momentum

≥25% strength + ≥50% consistency

Flow -83% @ 91% consistency — STRONG directional (bearish)

Smart Money Timing

≥40 composite score

Score 67 (ITM 20% + inst 37%) — HIGH institutional

Directional Strategy Fit

Option Buyers

Long Calls5.1

bullishIV cheap, bearish flow

Long Puts6.0

bearishIV cheap, bearish flow

Premium Sellers

Cash-Secured Put3.9

bullishIV too cheap, bearish flow

Covered Call4.8

bearishIV too cheap, bearish 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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