BDXBecton, Dickinson and Co.
Options Analysis Report•SURGICAL & MEDICAL INSTRUMENTS & APPARATUS
Market Cap $39.8B|NYSE
● 2026-05-15$144.47
NEUTRAL
Analysis: 2026-05-14 EOD data
1Y -16.1%YTD -25.9%7D -3.3%
Options Vol
154
30D
Implied Move
±8.6%
IV Rank
51%
BDX Options Overview
Mixed signals. No clear edge detected.
REWARDS
RISK ANALYSIS
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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
IV
levels.Risk Checks5/9 checks passed
IV Rank
≤35%IV Rank 37.7% — elevated vs history
IV/HV Ratio
<1.05xIV/HV 0.85x — IV ≤ HV
Sector Relative≤50%
Sector percentile 35% — below sector median
Term Structure
<1.1xFront/Back 0.95x — contango
Skew Normal
<1.25xPut/Call IV 1.16x — elevated
Absolute IV
<80%ATM IV 31.4% — normal range
Spread-Adjusted Value
<80%Effective IV 81.7% (ATM 31.4% + spread 25.2% + bias) — expensive
Execution Efficiency
<3.0%Total drag 35.67% (spread 25.16% + slippage 10.51%) — high friction
Vega Efficiency
≥5.0Vega efficiency 1.19 (vega 2.987 / spread 25.16%) — spread drag
Sentiment
Bullish or bearish?
6.1
BearishBullish
Analyzes
put/call ratios
, open interest skew
, and flow direction to determine market bias.Risk ChecksBullish - Strong signal (Conviction: +11%, Raw: +3%)
Flow Direction
|net sentiment| ≥25%Conviction-weighted: +11% (bullish) — Raw: +3%
OI Skew Magnitude
≥15%|OI skew| 25.8% — call-heavy
Volume-OI Alignment
Same sign, |vol skew| ≥10%Vol skew +14.3%, OI skew +25.8% — aligned
Conviction Quality
≥2/3 conditions0-DTE 25%, far-OTM 15%, avg DTE 30
OI Momentum
|change| ≥3%OI change +0.0% (5d) — stable
Smart Money Flow
|weighted flow| ≥20%ITM: -50%, ATM: -7%, OTM: +10% — strong bearish (ITM/ATM aligned)
Sector Relative≤40% or ≥60%
Sector P/C percentile 49% — neutral vs sector
Activity
Unusual activity?
2.1
QuietActive
Detects volume surges,
block trades
, and unusual options activity that may signal moves.Risk Checks0/9 checks passed
Volume Surge
≥1.5xVolume 0.3x avg — normal
Turnover Rate
≥15%Vol/OI 1.4% — 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 +2.9% (5d) — building
Sector Relative≥60%
Sector activity percentile 24% — below sector avg
Trade Quality
≥30%Large trade volume 0% — mostly retail
Execution Urgency
≥60%Aggressive execution 39% — patient
Flow Conviction
≥30Conviction +11 (bullish) — 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 25.2% — wide
Adequate OI
≥10,000OI 11,240 — adequate
Active Volume
≥500Volume 154/day — thin
Reasonable Cost
≤$0.50$1.26 to cross — expensive
Strike Coverage
≥5 strikes0 liquid strikes — limited options
Sector Relative≤40%
Sector spread percentile 37% — tighter than sector
Order Book Depth
≥100 contractsDepth 90.3 contracts (bid:52.8 ask:37.5) — thin
Execution Quality
<1.0%Avg slippage 10.51% — poor
Timing
Is now a good time?
6.7
RiskyFavorable
Considers earnings proximity,
time decay
, and event calendar for optimal entry timing.Risk Checks4/9 checks passed
Term Structure Clarity
|slope| ≥5%Slope -4.7% — flat/unclear
IV Percentile Clarity
<30 or >70IV percentile 38% — neutral
Event Detection
≥10pts kinkIV kink 0.3pts — no clear event
Theta/Vega Clarity
<0.5 or >2.0θ/ν ratio 4.46 — 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 +11% @ 56% consistency — unclear
Smart Money Timing
≥40 composite scoreScore 30 (ITM 20% + inst 0%) — retail dominated
Directional Strategy Fit
Option Buyers
Long Calls6.0
bullishIV cheap, bullish flow
Long Puts5.2
bearishIV cheap, bullish flow
Premium Sellers
Cash-Secured Put4.8
bullishIV too cheap, bullish flow
Covered Call4.0
bearishIV too cheap, bullish flow
For educational purposes only. Not investment advice.