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CANCanaan Inc. American Depositary Shares

Options Analysis Report
Market Cap $283M|NASDAQ
● 2026-08-31$0.38
BULLISH
Analysis: 2026-08-28 EOD data
1Y -47.7%YTD -50.6%7D +5.6%
2,212
30D
±8.6%
100%

CAN Options Overview

bullish flow. No clear edge detected.

REWARDS

RISK ANALYSIS

4.4VALUESENTIMENTACTIVITYLIQUIDITYTIMING

Snowflake Analysis

Balanced conditions with no clear edge

Learn
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CAN Gamma Walls

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Value

Is IV priced right?

4.1
ExpensiveCheap

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

levels.

Risk Checks5/9 checks passed
≤35%

IV Rank 50.0% — elevated vs history

<1.05x

IV/HV 1.00x — IV ≤ HV

Sector Relative≤50%

Sector percentile 50% — below sector median

<1.1x

Front/Back 1.00x — flat

<1.25x

Put/Call IV 1.00x — normal

<80%

ATM IV 0.0% — normal range

<80%

Effective IV 116.0% (ATM 0.0% + spread 58.0% + bias) — expensive

<3.0%

Total drag 68.84% (spread 58.01% + slippage 10.83%) — high friction

≥5.0

Vega efficiency 0.00 (vega 0.000 / spread 58.01%) — spread drag

Sentiment

Bullish or bearish?

4.8
BearishBullish

Analyzes

,
, and flow direction to determine market bias.

Risk ChecksVery Bearish - Strong signal (Conviction: -49%, Raw: -44%)
|net sentiment| ≥25%

Conviction-weighted: -49% (strong bearish) — Raw: -44%

≥15%

|OI skew| 67.9% — call-heavy

Same sign, |vol skew| ≥10%

Vol skew +96.9%, OI skew +67.9% — aligned

≥2/3 conditions

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

|change| ≥3%

OI change +0.0% (5d) — stable

|weighted flow| ≥20%

ITM: -20%, ATM: +0%, OTM: -45% — bearish (ITM/ATM divergent)

Sector Relative≤40% or ≥60%

Sector P/C percentile 3% — very bullish vs sector

Activity

Unusual activity?

4.0
QuietActive

Detects volume surges,

, and unusual options activity that may signal moves.

Risk Checks1/8 checks passed
≥1.5x

Volume 0.9x avg — normal

≥15%

Vol/OI 1.5% — normal turnover

≥2 days

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

≥5%

OI change +4.3% (5d) — building

Sector Relative≥60%

Sector activity percentile 38% — below sector avg

≥30%

Large trade volume 27% — mixed

≥60%

Aggressive execution 18% — patient

≥30

Conviction -49 (bearish) — moderate

Liquidity

Can I trade efficiently?

3.7
IlliquidLiquid

Evaluates

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

Risk Checks4/8 checks passed
≤5.0%

Spread 58.0% — wide

≥10,000

OI 144,314 — deep

≥500

Volume 2,212/day — adequate

≤$0.50

$2.90 to cross — expensive

≥5 strikes

0 liquid strikes — limited options

Sector Relative≤40%

Sector spread percentile 0% — much tighter than sector

≥100 contracts

Depth 3,415.7 contracts (bid:1,450.5 ask:1,965.2) — deep

<1.0%

Avg slippage 10.83% — poor

Timing

Is now a good time?

5.5
RiskyFavorable

Considers earnings proximity,

, and event calendar for optimal entry timing.

Risk Checks4/9 checks passed
|slope| ≥5%

Slope +0.0% — flat/unclear

<30 or >70

IV percentile 50% — neutral

≥10pts kink

IV kink 0.0pts — no clear event

<0.5 or >2.0

θ/ν ratio 1.00 — favors mixed

≥3 expirations

3 liquid expirations — flexible

≥60% (safe)

HIGH RISK: Earnings in 3d (HIGH RISK)

<1.2 ratio

Spread ratio 1.00x — stable

≥25% strength + ≥50% consistency

Flow -49% @ 74% consistency — STRONG directional (bearish)

≥40 composite score

Score 57 (ITM 20% + inst 27%) — moderate institutional

Directional Strategy Fit

Option Buyers
Long Calls4.5
bullishIV fair, mixed flow
Long Puts4.7
bearishIV fair, mixed flow
Premium Sellers
Cash-Secured Put7.4
bullishIV fair, mixed flow
Covered Call5.1
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.

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