CGONCG Oncology, Inc. Common stock
Options Analysis Report•BIOLOGICAL PRODUCTS, (NO DIAGNOSTIC SUBSTANCES)
Market Cap $6.1B|NASDAQ
● 2026-05-15$69.53
BULLISH
Analysis: 2026-05-14 EOD data
1Y +174.3%YTD +66.4%7D -0.1%
Options Vol
526
30D
Implied Move
±8.6%
IV Rank
70%
CGON Options Overview
IV is elevated with bullish flow. Conditions favor premium sellers.
REWARDS
RISK ANALYSIS
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Value
Is IV priced right?
0.8
ExpensiveCheap
Measures whether options are cheap, fair, or rich relative to historical and peer
IV
levels.Risk Checks1/9 checks passed
IV Rank
≤35%IV Rank 95.3% — elevated vs history
IV/HV Ratio
<1.05xIV/HV 2.20x — IV premium over HV
Sector Relative≤50%
Sector percentile 88% — above sector median
Term Structure
<1.1xFront/Back 1.47x — backwardation
Skew Normal
<1.25xPut/Call IV 1.16x — elevated
Absolute IV
<80%ATM IV 120.8% — crisis-level IV
Spread-Adjusted Value
<80%Effective IV 144.1% (ATM 120.8% + spread 11.7% + bias) — expensive
Execution Efficiency
<3.0%Total drag 15.80% (spread 11.65% + slippage 4.15%) — high friction
Vega Efficiency
≥5.0Vega efficiency 1.25 (vega 1.452 / spread 11.65%) — spread drag
Sentiment
Bullish or bearish?
5.8
BearishBullish
Analyzes
put/call ratios
, open interest skew
, and flow direction to determine market bias.Risk ChecksBearish - Strong signal (Conviction: -19%, Raw: -9%)
Flow Direction
|net sentiment| ≥25%Conviction-weighted: -19% (bearish) — Raw: -9%
OI Skew Magnitude
≥15%|OI skew| 46.5% — call-heavy
Volume-OI Alignment
Same sign, |vol skew| ≥10%Vol skew +55.5%, OI skew +46.5% — aligned
Conviction Quality
≥2/3 conditions0-DTE 19%, far-OTM 15%, avg DTE 30
OI Momentum
|change| ≥3%OI change +0.0% (5d) — stable
Smart Money Flow
|weighted flow| ≥20%ITM: -75%, ATM: +4%, OTM: +5% — strong bearish (ITM/ATM divergent)
Sector Relative≤40% or ≥60%
Sector P/C percentile 36% — bullish vs sector
Activity
Unusual activity?
2.5
QuietActive
Detects volume surges,
block trades
, and unusual options activity that may signal moves.Risk Checks0/9 checks passed
Volume Surge
≥1.5xVolume 0.4x avg — normal
Turnover Rate
≥15%Vol/OI 1.1% — 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 +0.1% (5d) — stable
Sector Relative≥60%
Sector activity percentile 36% — below sector avg
Trade Quality
≥30%Large trade volume 0% — mostly retail
Execution Urgency
≥60%Aggressive execution 49% — patient
Flow Conviction
≥30Conviction -19 (bearish) — mixed
Liquidity
Can I trade efficiently?
3.1
IlliquidLiquid
Evaluates
bid-ask spreads
, volume depth, and open interest for trade execution quality.Risk Checks2/8 checks passed
Tradeable Spread
≤5.0%Spread 11.7% — wide
Adequate OI
≥10,000OI 50,268 — deep
Active Volume
≥500Volume 526/day — adequate
Reasonable Cost
≤$0.50$0.58 to cross — expensive
Strike Coverage
≥5 strikes0 liquid strikes — limited options
Sector Relative≤40%
Sector spread percentile 95% — much wider than sector
Order Book Depth
≥100 contractsDepth 28.5 contracts (bid:15.0 ask:13.5) — thin
Execution Quality
<1.0%Avg slippage 4.15% — poor
Timing
Is now a good time?
7.5
RiskyFavorable
Considers earnings proximity,
time decay
, and event calendar for optimal entry timing.Risk Checks6/9 checks passed
Term Structure Clarity
|slope| ≥5%Slope +47.2% — backwardation
IV Percentile Clarity
<30 or >70IV percentile 95% — seller opportunity
Event Detection
≥10pts kinkIV kink 25.3pts — event priced
Theta/Vega Clarity
<0.5 or >2.0θ/ν ratio 0.82 — favors mixed
Expiration Distribution
≥3 expirations3 liquid expirations — flexible
Event Risk
≥60% (safe)safe window: No earnings detected
Spread Momentum
<1.2 ratioSpread ratio 1.00x — stable
Flow Momentum
≥25% strength + ≥50% consistencyFlow -19% @ 60% consistency — unclear
Smart Money Timing
≥40 composite scoreScore 30 (ITM 20% + inst 0%) — retail dominated
Directional Strategy Fit
Option Buyers
Long Calls3.9
bullishIV expensive, mixed flow
Long Puts3.3
bearishIV expensive, mixed flow
Premium Sellers
Cash-Secured Put7.3
bullishIV rich premium, mixed flow
Covered Call6.0
bearishIV rich premium, mixed flow
For educational purposes only. Not investment advice.