AInvestOption Pilot Program
Options/BKCH
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BKCHGlobal X Blockchain ETF

Options Analysis Report
AUM $268M|NASDAQ
● 2026-08-31$67.41
NEUTRAL
Analysis: 2026-08-28 EOD data
1Y +4.9%YTD -4.4%7D -2.2%
2
30D
±21.1%
10%

BKCH Options Overview

IV is elevated with bearish flow. Conditions favor premium sellers.

REWARDS

RISK ANALYSIS

4.1VALUESENTIMENTACTIVITYLIQUIDITYTIMING

Snowflake Analysis

Favorable conditions for premium sellers

Learn
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BKCH Gamma Walls

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Value

Is IV priced right?

4.3
ExpensiveCheap

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

levels.

Risk Checks3/9 checks passed
≤35%

IV Rank 91.0% — elevated vs history

<1.05x

IV/HV 1.18x — IV premium over HV

Sector Relative≤50%

Sector percentile 94% — above sector median

<1.1x

Front/Back 0.98x — contango

<1.25x

Put/Call IV 1.16x — elevated

<80%

ATM IV 74.6% — normal range

<80%

Effective IV 164.8% (ATM 74.6% + spread 45.1% + bias) — expensive

<3.0%

Total drag 67.60% (spread 45.11% + slippage 22.49%) — high friction

≥5.0

Vega efficiency 1.42 (vega 6.385 / spread 45.11%) — spread drag

Sentiment

Bullish or bearish?

4.7
BearishBullish

Analyzes

,
, and flow direction to determine market bias.

Risk ChecksNeutral - Weak signal (Conviction: +0%, Raw: +0%)
|net sentiment| ≥25%

Conviction-weighted: +0% (neutral) — Raw: +0%

≥15%

|OI skew| 32.3% — put-heavy

Same sign, |vol skew| ≥10%

Vol skew +0.0%, OI skew -32.3% — weak (same direction)

≥2/3 conditions

0-DTE 0%, far-OTM 15%, avg DTE 30

|change| ≥3%

OI change +0.0% (5d) — stable

|weighted flow| ≥20%

ITM: +0%, ATM: +0%, OTM: +0% — neutral (ITM/ATM divergent)

Sector Relative≤40% or ≥60%

Sector P/C percentile 27% — very bullish vs sector

Activity

Unusual activity?

2.9
QuietActive

Detects volume surges,

, and unusual options activity that may signal moves.

Risk Checks2/8 checks passed
≥1.5x

Volume 0.1x avg — normal

≥15%

Vol/OI 0.4% — normal turnover

≥2 days

1 day(s) elevated — may be one-day event

≥5%

OI change +7.9% (5d) — building

Sector Relative≥60%

Sector activity percentile 16% — quiet vs sector

≥30%

Large trade volume 0% — mostly retail

≥60%

Aggressive execution 100% — highly urgent

≥30

Conviction +0 (neutral) — mixed

Liquidity

Can I trade efficiently?

2.0
IlliquidLiquid

Evaluates

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

Risk Checks1/8 checks passed
≤5.0%

Spread 45.1% — wide

≥10,000

OI 464 — thin

≥500

Volume 2/day — thin

≤$0.50

$2.26 to cross — expensive

≥5 strikes

0 liquid strikes — limited options

Sector Relative≤40%

Sector spread percentile 96% — much wider than sector

≥100 contracts

Depth 168.5 contracts (bid:26.0 ask:142.5) — adequate

<1.0%

Avg slippage 22.49% — poor

Timing

Is now a good time?

6.7
RiskyFavorable

Considers earnings proximity,

, and event calendar for optimal entry timing.

Risk Checks5/9 checks passed
|slope| ≥5%

Slope -2.3% — flat/unclear

<30 or >70

IV percentile 91% — seller opportunity

≥10pts kink

IV kink -1.2pts — no clear event

<0.5 or >2.0

θ/ν ratio 41.89 — favors income trades

≥3 expirations

3 liquid expirations — flexible

≥60% (safe)

safe window: No earnings detected

<1.2 ratio

Spread ratio 1.00x — stable

≥25% strength + ≥50% consistency

Flow +0% @ 50% consistency — unclear

≥40 composite score

Score 30 (ITM 20% + inst 0%) — retail dominated

Directional Strategy Fit

Option Buyers
Long Calls4.4
bullishIV fair, mixed flow
Long Puts4.6
bearishIV fair, mixed flow
Premium Sellers
Cash-Secured Put4.8
bullishIV fair, mixed flow
Covered Call5.0
bearishIV fair, 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 Aug 31, 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 BKCH

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