AZNAstraZeneca PLC
Options Analysis Report
Market Cap $286.8B|NYSE
● 2026-05-15$184.96
NEUTRAL
Analysis: 2026-05-14 EOD data
1Y +172.2%YTD +102.0%7D +1.2%
Options Vol
2,260
30D
Implied Move
±8.6%
IV Rank
27%
AZN Options Overview
IV is low. Conditions favor option buyers.
REWARDS
RISK ANALYSIS
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Value
Is IV priced right?
6.8
ExpensiveCheap
Measures whether options are cheap, fair, or rich relative to historical and peer
IV
levels.Risk Checks7/9 checks passed
IV Rank
≤35%IV Rank 24.2% — cheap vs history
IV/HV Ratio
<1.05xIV/HV 1.37x — IV premium over HV
Sector Relative≤50%
Sector percentile 7% — below sector median
Term Structure
<1.1xFront/Back 1.00x — flat
Skew Normal
<1.25xPut/Call IV 1.16x — elevated
Absolute IV
<80%ATM IV 29.9% — normal range
Spread-Adjusted Value
<80%Effective IV 51.2% (ATM 29.9% + spread 10.6% + bias) — good value
Execution Efficiency
<3.0%Total drag 15.55% (spread 10.63% + slippage 4.92%) — high friction
Vega Efficiency
≥5.0Vega efficiency 84.95 (vega 90.307 / spread 10.63%) — efficient
Sentiment
Bullish or bearish?
4.0
BearishBullish
Analyzes
put/call ratios
, open interest skew
, and flow direction to determine market bias.Risk ChecksVery Bearish - Moderate signal (Conviction: -64%, Raw: -52%)
Flow Direction
|net sentiment| ≥25%Conviction-weighted: -64% (strong bearish) — Raw: -52%
OI Skew Magnitude
≥15%|OI skew| 3.3% — balanced
Volume-OI Alignment
Same sign, |vol skew| ≥10%Vol skew +22.0%, OI skew +3.3% — aligned
Conviction Quality
≥2/3 conditions0-DTE 67%, far-OTM 15%, avg DTE 30
OI Momentum
|change| ≥3%OI change +0.0% (5d) — stable
Smart Money Flow
|weighted flow| ≥20%ITM: -100%, ATM: -73%, OTM: -17% — strong bearish (ITM/ATM aligned)
Sector Relative≤40% or ≥60%
Sector P/C percentile 56% — bearish vs sector
Activity
Unusual activity?
4.7
QuietActive
Detects volume surges,
block trades
, and unusual options activity that may signal moves.Risk Checks4/9 checks passed
Volume Surge
≥1.5xVolume 0.6x avg — normal
Turnover Rate
≥15%Vol/OI 4.6% — normal turnover
Strike Concentration
≥60%Top 3 strikes = 50% — dispersed
Multi-Day Persistence
≥2 days1 day(s) elevated — may be one-day event
OI Build
≥5%OI change -0.8% (5d) — stable
Sector Relative≥60%
Sector activity percentile 74% — active vs sector
Trade Quality
≥30%Large trade volume 64% — heavy institutional
Execution Urgency
≥60%Aggressive execution 77% — urgent
Flow Conviction
≥30Conviction -64 (bearish) — strong conviction
Liquidity
Can I trade efficiently?
3.6
IlliquidLiquid
Evaluates
bid-ask spreads
, volume depth, and open interest for trade execution quality.Risk Checks2/8 checks passed
Tradeable Spread
≤5.0%Spread 10.6% — wide
Adequate OI
≥10,000OI 49,472 — adequate
Active Volume
≥500Volume 2,260/day — adequate
Reasonable Cost
≤$0.50$0.53 to cross — expensive
Strike Coverage
≥5 strikes0 liquid strikes — limited options
Sector Relative≤40%
Sector spread percentile 62% — wider than sector
Order Book Depth
≥100 contractsDepth 61.7 contracts (bid:23.2 ask:38.5) — thin
Execution Quality
<1.0%Avg slippage 4.92% — poor
Timing
Is now a good time?
7.0
RiskyFavorable
Considers earnings proximity,
time decay
, and event calendar for optimal entry timing.Risk Checks7/9 checks passed
Term Structure Clarity
|slope| ≥5%Slope +0.0% — flat/unclear
IV Percentile Clarity
<30 or >70IV percentile 24% — buyer opportunity
Event Detection
≥10pts kinkIV kink 0.8pts — no clear event
Theta/Vega Clarity
<0.5 or >2.0θ/ν ratio 3225.25 — favors income trades
Expiration Distribution
≥3 expirations3 liquid expirations — flexible
Event Risk
≥60% (safe)safe window: No events detected
Spread Momentum
<1.2 ratioSpread ratio 1.00x — stable
Flow Momentum
≥25% strength + ≥50% consistencyFlow -64% @ 82% consistency — STRONG directional (bearish)
Smart Money Timing
≥40 composite scoreScore 94 (ITM 20% + inst 64%) — HIGH institutional
Directional Strategy Fit
Option Buyers
Long Calls5.3
bullishIV cheap, bearish flow
Long Puts6.1
bearishIV cheap, bearish flow
Premium Sellers
Cash-Secured Put4.1
bullishIV too cheap, bearish flow
Covered Call4.9
bearishIV too cheap, bearish flow
For educational purposes only. Not investment advice.