IV is elevated. Conditions favor premium sellers.
Is IV priced right?
Measures whether options are cheap, fair, or rich relative to historical and peer
IV Rank 89.3% — elevated vs history
IV/HV 1.01x — IV ≤ HV
Sector percentile 93% — above sector median
Front/Back 0.90x — contango
Put/Call IV 1.16x — elevated
ATM IV 91.1% — crisis-level IV
Effective IV 124.6% (ATM 91.1% + spread 16.8% + bias) — expensive
Total drag 23.36% (spread 16.77% + slippage 6.59%) — high friction
Vega efficiency 3.74 (vega 6.276 / spread 16.77%) — spread drag
Bullish or bearish?
Analyzes
Conviction-weighted: +8% (neutral) — Raw: +1%
|OI skew| 40.8% — call-heavy
Vol skew +23.1%, OI skew +40.8% — aligned
0-DTE 39%, far-OTM 15%, avg DTE 30
OI change +0.0% (5d) — stable
ITM: +41%, ATM: +15%, OTM: -19% — strong bullish (ITM/ATM aligned)
Sector P/C percentile 26% — very bullish vs sector
Unusual activity?
Detects volume surges,
Volume 0.8x avg — normal
Vol/OI 6.7% — normal turnover
Top 3 strikes = 50% — dispersed
1 day(s) elevated — may be one-day event
OI change -8.1% (5d) — unwinding
Sector activity percentile 72% — active vs sector
Large trade volume 14% — mostly retail
Aggressive execution 17% — patient
Conviction +8 (bullish) — mixed
Can I trade efficiently?
Evaluates
Spread 16.8% — wide
OI 15,020 — adequate
Volume 1,012/day — adequate
$0.84 to cross — expensive
1 liquid strikes — limited options
Sector spread percentile 94% — much wider than sector
Depth 474.1 contracts (bid:228.0 ask:246.1) — adequate
Avg slippage 6.59% — poor
Is now a good time?
Considers earnings proximity,
Slope -9.5% — contango
IV percentile 89% — seller opportunity
IV kink -10.3pts — no clear event
θ/ν ratio 66.83 — favors income trades
3 liquid expirations — flexible
safe window: No earnings detected
Spread ratio 1.00x — stable
Flow +8% @ 54% consistency — unclear
Score 44 (ITM 20% + inst 14%) — moderate institutional
For educational purposes only. Not investment advice.