Options/BWA

BWABorgWarner Inc.

Options Analysis Report•MOTOR VEHICLE PARTS & ACCESSORIES

Market Cap $13.4B|NYSE

● 2026-09-11$65.69

NEUTRAL

Analysis: 2026-09-10 EOD data

1Y +48.1%YTD +40.8%7D -2.7%

Options Vol

30D

Implied Move

±8.6%

IV Rank

29%

BWA Options Overview

bearish flow. No clear edge detected.

REWARDS

RISK ANALYSIS

Snowflake Analysis

Favorable conditions for option buyers

Learn

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BWA Gamma Walls

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Value

Is IV priced right?

5.9

ExpensiveCheap

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

levels.

Risk Checks4/9 checks passed

IV Rank

≤35%

IV Rank 55.9% — elevated vs history

IV/HV Ratio

<1.05x

IV/HV 1.07x — IV premium over HV

Sector Relative≤50%

Sector percentile 32% — below sector median

Term Structure

<1.1x

Front/Back 0.99x — contango

Skew Normal

<1.25x

Put/Call IV 1.16x — elevated

Absolute IV

<80%

ATM IV 38.2% — normal range

Spread-Adjusted Value

<80%

Effective IV 132.3% (ATM 38.2% + spread 47.1% + bias) — expensive

Execution Efficiency

<3.0%

Total drag 56.34% (spread 47.06% + slippage 9.28%) — high friction

Vega Efficiency

≥5.0

Vega efficiency 0.80 (vega 3.786 / spread 47.06%) — spread drag

Sentiment

Bullish or bearish?

6.5

BearishBullish

Analyzes

put/call ratios

open interest skew

, and flow direction to determine market bias.

Risk ChecksVery Bullish - Strong signal (Conviction: +61%, Raw: +49%)

Flow Direction

|net sentiment| ≥25%

Conviction-weighted: +61% (strong bullish) — Raw: +49%

OI Skew Magnitude

≥15%

|OI skew| 22.9% — call-heavy

Volume-OI Alignment

Same sign, |vol skew| ≥10%

Vol skew -55.3%, OI skew +22.9% — divergent (opposite)

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: -100%, OTM: +50% — bullish (ITM/ATM divergent)

Sector Relative≤40% or ≥60%

Sector P/C percentile 84% — very bearish vs sector

Activity

Unusual activity?

2.3

QuietActive

Detects volume surges,

block trades

, and unusual options activity that may signal moves.

Risk Checks1/8 checks passed

Volume Surge

≥1.5x

Volume 0.1x avg — normal

Turnover Rate

≥15%

Vol/OI 0.3% — normal turnover

Multi-Day Persistence

≥2 days

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

OI Build

≥5%

OI change +2.0% (5d) — building

Sector Relative≥60%

Sector activity percentile 12% — quiet vs sector

Trade Quality

≥30%

Large trade volume 0% — mostly retail

Execution Urgency

≥60%

Aggressive execution 8% — patient

Flow Conviction

≥30

Conviction +61 (bullish) — strong conviction

Liquidity

Can I trade efficiently?

2.6

IlliquidLiquid

Evaluates

bid-ask spreads

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

Risk Checks2/8 checks passed

Tradeable Spread

≤5.0%

Spread 47.1% — wide

Adequate OI

≥10,000

OI 31,667 — adequate

Active Volume

≥500

Volume 94/day — thin

Reasonable Cost

≤$0.50

$2.35 to cross — expensive

Strike Coverage

≥5 strikes

0 liquid strikes — limited options

Sector Relative≤40%

Sector spread percentile 62% — wider than sector

Order Book Depth

≥100 contracts

Depth 141.10000000000002 contracts (bid:72.9 ask:68.2) — adequate

Execution Quality

<1.0%

Avg slippage 9.28% — poor

Timing

Is now a good time?

5.9

RiskyFavorable

Considers earnings proximity,

time decay

, and event calendar for optimal entry timing.

Risk Checks4/9 checks passed

Term Structure Clarity

|slope| ≥5%

Slope -1.1% — flat/unclear

IV Percentile Clarity

<30 or >70

IV percentile 56% — neutral

Event Detection

≥10pts kink

IV kink -0.1pts — no clear event

Theta/Vega Clarity

<0.5 or >2.0

θ/ν ratio 39.85 — favors income trades

Expiration Distribution

≥3 expirations

4 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 +61% @ 81% consistency — STRONG directional (bullish)

Smart Money Timing

≥40 composite score

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

Directional Strategy Fit

Option Buyers

Long Calls5.6

bullishIV fair, bullish flow

Long Puts4.6

bearishIV fair, bullish flow

Premium Sellers

Cash-Secured Put4.9

bullishIV fair, bullish flow

Covered Call3.9

bearishIV fair, bullish 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 BWA

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