BKNGBooking Holdings Inc. Common Stock
Options Analysis Report•TRANSPORTATION SERVICES
Market Cap $119.7B|NASDAQ
● 2026-05-15$154.48
NEUTRAL
Analysis: 2026-05-14 EOD data
1Y -26.3%YTD -27.4%7D -6.9%
Options Vol
30,528
30D
Implied Move
±11.5%
IV Rank
77%
BKNG Options Overview
IV is elevated. No clear edge detected.
REWARDS
RISK ANALYSIS
Loading score history...
Value
Is IV priced right?
4.3
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 76.4% — elevated vs history
IV/HV Ratio
<1.05xIV/HV 1.12x — IV premium over HV
Sector Relative≤50%
Sector percentile 73% — above sector median
Term Structure
<1.1xFront/Back 0.92x — contango
Skew Normal
<1.25xPut/Call IV 1.16x — elevated
Absolute IV
<80%ATM IV 45.8% — normal range
Spread-Adjusted Value
<80%Effective IV 77.7% (ATM 45.8% + spread 16.0% + bias) — fair
Execution Efficiency
<3.0%Total drag 26.06% (spread 15.96% + slippage 10.10%) — high friction
Vega Efficiency
≥5.0Vega efficiency 24.49 (vega 39.084 / spread 15.96%) — efficient
Sentiment
Bullish or bearish?
3.6
BearishBullish
Analyzes
put/call ratios
, open interest skew
, and flow direction to determine market bias.Risk ChecksBearish - Moderate signal (Conviction: -24%, Raw: -22%)
Flow Direction
|net sentiment| ≥25%Conviction-weighted: -24% (bearish) — Raw: -22%
OI Skew Magnitude
≥15%|OI skew| 12.5% — balanced
Volume-OI Alignment
Same sign, |vol skew| ≥10%Vol skew -22.6%, OI skew +12.5% — divergent (opposite)
Conviction Quality
≥2/3 conditions0-DTE 22%, far-OTM 15%, avg DTE 30
OI Momentum
|change| ≥3%OI change +0.0% (5d) — stable
Smart Money Flow
|weighted flow| ≥20%ITM: -27%, ATM: +8%, OTM: -24% — bearish (ITM/ATM divergent)
Sector Relative≤40% or ≥60%
Sector P/C percentile 80% — very bearish vs sector
Activity
Unusual activity?
4.3
QuietActive
Detects volume surges,
block trades
, and unusual options activity that may signal moves.Risk Checks0/9 checks passed
Volume Surge
≥1.5xVolume 1.2x avg — normal
Turnover Rate
≥15%Vol/OI 4.1% — 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 +4.3% (5d) — building
Sector Relative≥60%
Sector activity percentile 46% — neutral vs sector
Trade Quality
≥30%Large trade volume 20% — mixed
Execution Urgency
≥60%Aggressive execution 21% — patient
Flow Conviction
≥30Conviction -24 (bearish) — mixed
Liquidity
Can I trade efficiently?
3.9
IlliquidLiquid
Evaluates
bid-ask spreads
, volume depth, and open interest for trade execution quality.Risk Checks3/8 checks passed
Tradeable Spread
≤5.0%Spread 16.0% — wide
Adequate OI
≥10,000OI 751,281 — deep
Active Volume
≥500Volume 30,528/day — active
Reasonable Cost
≤$0.50$0.80 to cross — expensive
Strike Coverage
≥5 strikes0 liquid strikes — limited options
Sector Relative≤40%
Sector spread percentile 74% — wider than sector
Order Book Depth
≥100 contractsDepth 519.8 contracts (bid:273.7 ask:246.1) — deep
Execution Quality
<1.0%Avg slippage 10.10% — poor
Timing
Is now a good time?
7.5
RiskyFavorable
Considers earnings proximity,
time decay
, and event calendar for optimal entry timing.Risk Checks7/9 checks passed
Term Structure Clarity
|slope| ≥5%Slope -8.1% — contango
IV Percentile Clarity
<30 or >70IV percentile 76% — seller opportunity
Event Detection
≥10pts kinkIV kink -2.0pts — no clear event
Theta/Vega Clarity
<0.5 or >2.0θ/ν ratio 642.83 — favors income trades
Expiration Distribution
≥3 expirations5 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 -24% @ 62% consistency — unclear
Smart Money Timing
≥40 composite scoreScore 50 (ITM 20% + inst 20%) — moderate institutional
Directional Strategy Fit
Option Buyers
Long Calls4.5
bullishIV fair, bearish flow
Long Puts5.4
bearishIV fair, bearish flow
Premium Sellers
Cash-Secured Put4.9
bullishIV fair, bearish flow
Covered Call5.9
bearishIV fair, bearish flow
For educational purposes only. Not investment advice.