Options/BDX

BDXBecton, Dickinson and Co.

Options Analysis Report•SURGICAL & MEDICAL INSTRUMENTS & APPARATUS

Market Cap $48.1B|NYSE

● 2026-09-11$176.42

BULLISH

Analysis: 2026-09-10 EOD data

1Y -7.4%YTD -9.5%7D -4.5%

Options Vol

403

30D

Implied Move

±8.6%

IV Rank

10%

BDX Options Overview

Mixed signals. No clear edge detected.

REWARDS

RISK ANALYSIS

Snowflake Analysis

Favorable conditions for option buyers

Learn

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BDX Gamma Walls

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Value

Is IV priced right?

8.2

ExpensiveCheap

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

levels.

Risk Checks7/9 checks passed

IV Rank

≤35%

IV Rank 30.5% — cheap vs history

IV/HV Ratio

<1.05x

IV/HV 1.22x — IV premium over HV

Sector Relative≤50%

Sector percentile 19% — below sector median

Term Structure

<1.1x

Front/Back 1.02x — flat

Skew Normal

<1.25x

Put/Call IV 1.16x — elevated

Absolute IV

<80%

ATM IV 28.0% — normal range

Spread-Adjusted Value

<80%

Effective IV 70.1% (ATM 28.0% + spread 21.1% + bias) — fair

Execution Efficiency

<3.0%

Total drag 32.74% (spread 21.05% + slippage 11.69%) — high friction

Vega Efficiency

≥5.0

Vega efficiency 10.33 (vega 21.751 / spread 21.05%) — efficient

Sentiment

Bullish or bearish?

5.8

BearishBullish

Analyzes

put/call ratios

open interest skew

, and flow direction to determine market bias.

Risk ChecksBearish - Strong signal (Conviction: -20%, Raw: -12%)

Flow Direction

|net sentiment| ≥25%

Conviction-weighted: -20% (bearish) — Raw: -12%

OI Skew Magnitude

≥15%

|OI skew| 37.2% — call-heavy

Volume-OI Alignment

Same sign, |vol skew| ≥10%

Vol skew +56.3%, OI skew +37.2% — 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: -100%, ATM: +27%, OTM: -15% — strong bearish (ITM/ATM divergent)

Sector Relative≤40% or ≥60%

Sector P/C percentile 15% — very bullish vs sector

Activity

Unusual activity?

3.5

QuietActive

Detects volume surges,

block trades

, and unusual options activity that may signal moves.

Risk Checks0/8 checks passed

Volume Surge

≥1.5x

Volume 0.6x 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 -1.9% (5d) — stable

Sector Relative≥60%

Sector activity percentile 54% — neutral vs sector

Trade Quality

≥30%

Large trade volume 25% — mixed

Execution Urgency

≥60%

Aggressive execution 51% — patient

Flow Conviction

≥30

Conviction -20 (bearish) — mixed

Liquidity

Can I trade efficiently?

3.3

IlliquidLiquid

Evaluates

bid-ask spreads

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

Risk Checks2/8 checks passed

Tradeable Spread

≤5.0%

Spread 21.1% — wide

Adequate OI

≥10,000

OI 13,555 — adequate

Active Volume

≥500

Volume 403/day — thin

Reasonable Cost

≤$0.50

$1.05 to cross — expensive

Strike Coverage

≥5 strikes

0 liquid strikes — limited options

Sector Relative≤40%

Sector spread percentile 27% — tighter than sector

Order Book Depth

≥100 contracts

Depth 48.3 contracts (bid:23.6 ask:24.7) — thin

Execution Quality

<1.0%

Avg slippage 11.69% — poor

Timing

Is now a good time?

5.8

RiskyFavorable

Considers earnings proximity,

time decay

, and event calendar for optimal entry timing.

Risk Checks4/9 checks passed

Term Structure Clarity

|slope| ≥5%

Slope +1.8% — flat/unclear

IV Percentile Clarity

<30 or >70

IV percentile 30% — neutral

Event Detection

≥10pts kink

IV kink 1.4pts — no clear event

Theta/Vega Clarity

<0.5 or >2.0

θ/ν ratio 242.22 — favors income trades

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 -20% @ 60% consistency — unclear

Smart Money Timing

≥40 composite score

Score 55 (ITM 20% + inst 25%) — moderate institutional

Directional Strategy Fit

Option Buyers

Long Calls7.1

bullishIV cheap, mixed flow

Long Puts5.7

bearishIV cheap, mixed flow

Premium Sellers

Cash-Secured Put4.1

bullishIV too cheap, mixed flow

Covered Call3.6

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 BDX

BDX gamma walls BDX option chain BDX max pain BDX expected move BDX IV rank BDX put/call ratio BDX options flow