BHPBHP Group Limited American Depositary Shares (Each representing two Ordinary Shares)
Options Analysis Report
Market Cap $230.7B|NYSE
● 2026-05-15$88.93
NEUTRAL
Analysis: 2026-05-14 EOD data
1Y +76.0%YTD +44.0%7D +5.0%
Options Vol
2,514
30D
Implied Move
±8.6%
IV Rank
82%
BHP Options Overview
Mixed signals. No clear edge detected.
REWARDS
RISK ANALYSIS
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Value
Is IV priced right?
5.8
ExpensiveCheap
Measures whether options are cheap, fair, or rich relative to historical and peer
IV
levels.Risk Checks6/9 checks passed
IV Rank
≤35%IV Rank 41.1% — elevated vs history
IV/HV Ratio
<1.05xIV/HV 0.99x — IV ≤ HV
Sector Relative≤50%
Sector percentile 20% — below sector median
Term Structure
<1.1xFront/Back 1.03x — flat
Skew Normal
<1.25xPut/Call IV 1.16x — elevated
Absolute IV
<80%ATM IV 38.0% — normal range
Spread-Adjusted Value
<80%Effective IV 51.6% (ATM 38.0% + spread 6.8% + bias) — good value
Execution Efficiency
<3.0%Total drag 9.31% (spread 6.79% + slippage 2.52%) — high friction
Vega Efficiency
≥5.0Vega efficiency 2.37 (vega 1.609 / spread 6.79%) — spread drag
Sentiment
Bullish or bearish?
4.6
BearishBullish
Analyzes
put/call ratios
, open interest skew
, and flow direction to determine market bias.Risk ChecksVery Bearish - Strong signal (Conviction: -54%, Raw: -47%)
Flow Direction
|net sentiment| ≥25%Conviction-weighted: -54% (strong bearish) — Raw: -47%
OI Skew Magnitude
≥15%|OI skew| 19.2% — call-heavy
Volume-OI Alignment
Same sign, |vol skew| ≥10%Vol skew +72.7%, OI skew +19.2% — aligned
Conviction Quality
≥2/3 conditions0-DTE 12%, far-OTM 15%, avg DTE 30
OI Momentum
|change| ≥3%OI change +0.0% (5d) — stable
Smart Money Flow
|weighted flow| ≥20%ITM: +0%, ATM: +27%, OTM: -73% — bullish (ITM/ATM divergent)
Sector Relative≤40% or ≥60%
Sector P/C percentile 27% — very bullish vs sector
Activity
Unusual activity?
4.1
QuietActive
Detects volume surges,
block trades
, and unusual options activity that may signal moves.Risk Checks3/9 checks passed
Volume Surge
≥1.5xVolume 0.8x avg — normal
Turnover Rate
≥15%Vol/OI 1.5% — 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 +6.4% (5d) — building
Sector Relative≥60%
Sector activity percentile 40% — below sector avg
Trade Quality
≥30%Large trade volume 44% — institutional presence
Execution Urgency
≥60%Aggressive execution 42% — patient
Flow Conviction
≥30Conviction -54 (bearish) — strong conviction
Liquidity
Can I trade efficiently?
4.6
IlliquidLiquid
Evaluates
bid-ask spreads
, volume depth, and open interest for trade execution quality.Risk Checks4/8 checks passed
Tradeable Spread
≤5.0%Spread 6.8% — wide
Adequate OI
≥10,000OI 166,830 — deep
Active Volume
≥500Volume 2,514/day — adequate
Reasonable Cost
≤$0.50$0.34 to cross — cheap
Strike Coverage
≥5 strikes1 liquid strikes — limited options
Sector Relative≤40%
Sector spread percentile 55% — neutral vs sector
Order Book Depth
≥100 contractsDepth 252.89999999999998 contracts (bid:136.1 ask:116.8) — adequate
Execution Quality
<1.0%Avg slippage 2.52% — poor
Timing
Is now a good time?
7.2
RiskyFavorable
Considers earnings proximity,
time decay
, and event calendar for optimal entry timing.Risk Checks6/9 checks passed
Term Structure Clarity
|slope| ≥5%Slope +2.7% — flat/unclear
IV Percentile Clarity
<30 or >70IV percentile 41% — neutral
Event Detection
≥10pts kinkIV kink 1.1pts — no clear event
Theta/Vega Clarity
<0.5 or >2.0θ/ν ratio 3.29 — 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 -54% @ 77% consistency — STRONG directional (bearish)
Smart Money Timing
≥40 composite scoreScore 74 (ITM 20% + inst 44%) — HIGH institutional
Directional Strategy Fit
Option Buyers
Long Calls5.4
bullishIV fair, mixed flow
Long Puts5.7
bearishIV fair, mixed flow
Premium Sellers
Cash-Secured Put4.9
bullishIV fair, mixed flow
Covered Call5.1
bearishIV fair, mixed flow
For educational purposes only. Not investment advice.