CHHChoice Hotels Intnl.
CHH Options Overview
Mixed signals. Conditions favor premium sellers.
REWARDS
RISK ANALYSIS
CHH Gamma Walls
Value
Is IV priced right?
Measures whether options are cheap, fair, or rich relative to historical and peer
IV Rank 60.5% — elevated vs history
IV/HV 1.32x — IV premium over HV
Sector percentile 45% — below sector median
Front/Back 0.95x — contango
Put/Call IV 1.16x — elevated
ATM IV 38.0% — normal range
Effective IV 384.7% (ATM 38.0% + spread 173.3% + bias) — expensive
Total drag 174.66% (spread 173.33% + slippage 1.33%) — high friction
Vega efficiency 0.92 (vega 15.909 / spread 173.33%) — spread drag
Sentiment
Bullish or bearish?
Analyzes
Conviction-weighted: +100% (strong bullish) — Raw: +100%
|OI skew| 9.5% — balanced
Vol skew -11.1%, OI skew -9.5% — aligned
0-DTE 0%, far-OTM 15%, avg DTE 30
OI change +0.0% (5d) — stable
ITM: +0%, ATM: +0%, OTM: +100% — neutral (ITM/ATM divergent)
Sector P/C percentile 77% — very bearish vs sector
Activity
Unusual activity?
Detects volume surges,
Volume 0.1x avg — normal
Vol/OI 0.2% — normal turnover
1 day(s) elevated — may be one-day event
OI change +0.6% (5d) — stable
Sector activity percentile 14% — quiet vs sector
Large trade volume 0% — mostly retail
Aggressive execution 0% — patient
Conviction +100 (bullish) — strong conviction
Liquidity
Can I trade efficiently?
Evaluates
Spread 173.3% — wide
OI 3,919 — thin
Volume 9/day — thin
$8.67 to cross — expensive
0 liquid strikes — limited options
Sector spread percentile 70% — wider than sector
Depth 73.0 contracts (bid:18.0 ask:55.0) — thin
Avg slippage 1.33% — fair
Timing
Is now a good time?
Considers earnings proximity,
Slope -4.6% — flat/unclear
IV percentile 60% — neutral
IV kink -0.3pts — no clear event
θ/ν ratio 250.53 — favors income trades
3 liquid expirations — flexible
safe window: No events detected
Spread ratio 1.00x — stable
Flow +100% @ 50% consistency — STRONG directional (bullish)
Score 30 (ITM 20% + inst 0%) — retail dominated
Directional Strategy Fit
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.