AInvestOption Pilot Program
Options/CHPY
C

CHPYYieldMax Semiconductor Portfolio Option Income ETF

Options Analysis Report
AUM $1.1B|ARCX
● 2026-08-31$65.96
NEUTRAL
Analysis: 2026-08-28 EOD data
1Y +26.7%YTD +14.4%7D -0.3%
307
30D
±9.0%
4%

CHPY Options Overview

unusual activity. No clear edge detected.

REWARDS

RISK ANALYSIS

5.3VALUESENTIMENTACTIVITYLIQUIDITYTIMING

Snowflake Analysis

Balanced conditions with no clear edge

Learn
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CHPY Gamma Walls

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Value

Is IV priced right?

5.3
ExpensiveCheap

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

levels.

Risk Checks4/9 checks passed
≤35%

IV Rank 61.1% — elevated vs history

<1.05x

IV/HV 1.00x — IV ≤ HV

Sector Relative≤50%

Sector percentile 78% — above sector median

<1.1x

Front/Back 0.71x — contango

<1.25x

Put/Call IV 1.16x — elevated

<80%

ATM IV 38.4% — normal range

<80%

Effective IV 120.0% (ATM 38.4% + spread 40.8% + bias) — expensive

<3.0%

Total drag 52.02% (spread 40.78% + slippage 11.24%) — high friction

≥5.0

Vega efficiency 2.28 (vega 9.310 / spread 40.78%) — spread drag

Sentiment

Bullish or bearish?

6.2
BearishBullish

Analyzes

,
, and flow direction to determine market bias.

Risk ChecksVery Bullish - Moderate signal (Conviction: +44%, Raw: +34%)
|net sentiment| ≥25%

Conviction-weighted: +44% (strong bullish) — Raw: +34%

≥15%

|OI skew| 4.4% — balanced

Same sign, |vol skew| ≥10%

Vol skew +4.2%, OI skew +4.4% — weak (same direction)

≥2/3 conditions

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

|change| ≥3%

OI change +0.0% (5d) — stable

|weighted flow| ≥20%

ITM: -29%, ATM: +75%, OTM: +5% — bullish (ITM/ATM divergent)

Sector Relative≤40% or ≥60%

Sector P/C percentile 26% — very bullish vs sector

Activity

Unusual activity?

5.4
QuietActive

Detects volume surges,

, and unusual options activity that may signal moves.

Risk Checks3/8 checks passed
≥1.5x

Volume 1.0x avg — normal

≥15%

Vol/OI 14.5% — normal turnover

≥2 days

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

≥5%

OI change +25.9% (5d) — building

Sector Relative≥60%

Sector activity percentile 88% — very active vs sector

≥30%

Large trade volume 0% — mostly retail

≥60%

Aggressive execution 15% — patient

≥30

Conviction +44 (bullish) — moderate

Liquidity

Can I trade efficiently?

2.6
IlliquidLiquid

Evaluates

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

Risk Checks0/8 checks passed
≤5.0%

Spread 40.8% — wide

≥10,000

OI 2,116 — thin

≥500

Volume 307/day — thin

≤$0.50

$2.04 to cross — expensive

≥5 strikes

0 liquid strikes — limited options

Sector Relative≤40%

Sector spread percentile 83% — much wider than sector

≥100 contracts

Depth 76.1 contracts (bid:53.1 ask:23.0) — thin

<1.0%

Avg slippage 11.24% — poor

Timing

Is now a good time?

7.1
RiskyFavorable

Considers earnings proximity,

, and event calendar for optimal entry timing.

Risk Checks6/9 checks passed
|slope| ≥5%

Slope -29.1% — contango

<30 or >70

IV percentile 61% — neutral

≥10pts kink

IV kink -9.2pts — no clear event

<0.5 or >2.0

θ/ν ratio 350.02 — favors income trades

≥3 expirations

3 liquid expirations — flexible

≥60% (safe)

safe window: No earnings detected

<1.2 ratio

Spread ratio 1.00x — stable

≥25% strength + ≥50% consistency

Flow +44% @ 72% consistency — STRONG directional (bullish)

≥40 composite score

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

Directional Strategy Fit

Option Buyers
Long Calls5.5
bullishIV fair, bullish flow
Long Puts4.6
bearishIV fair, bullish flow
Premium Sellers
Cash-Secured Put5.1
bullishIV fair, bullish flow
Covered Call4.3
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 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.

More on CHPY

CHPY gamma wallsCHPY max painCHPY IV rankCHPY options flow