CLDXCelldex Therapeutics, Inc
Options Analysis Report•IN VITRO & IN VIVO DIAGNOSTIC SUBSTANCES
Market Cap $2.5B|NASDAQ
● 2026-05-15$32.45
NEUTRAL
Analysis: 2026-05-14 EOD data
1Y +61.4%YTD +20.1%7D -4.5%
Options Vol
13
30D
Implied Move
±8.6%
IV Rank
41%
CLDX Options Overview
IV is elevated. Conditions favor premium sellers.
REWARDS
RISK ANALYSIS
Loading score history...
Value
Is IV priced right?
2.4
ExpensiveCheap
Measures whether options are cheap, fair, or rich relative to historical and peer
IV
levels.Risk Checks2/9 checks passed
IV Rank
≤35%IV Rank 89.6% — elevated vs history
IV/HV Ratio
<1.05xIV/HV 2.71x — IV premium over HV
Sector Relative≤50%
Sector percentile 71% — above sector median
Term Structure
<1.1xFront/Back 0.51x — contango
Skew Normal
<1.25xPut/Call IV 1.16x — elevated
Absolute IV
<80%ATM IV 92.8% — crisis-level IV
Spread-Adjusted Value
<80%Effective IV 222.6% (ATM 92.8% + spread 64.9% + bias) — expensive
Execution Efficiency
<3.0%Total drag 83.61% (spread 64.88% + slippage 18.73%) — high friction
Vega Efficiency
≥5.0Vega efficiency 1.37 (vega 8.870 / spread 64.88%) — spread drag
Sentiment
Bullish or bearish?
5.8
BearishBullish
Analyzes
put/call ratios
, open interest skew
, and flow direction to determine market bias.Risk ChecksNeutral - Weak signal (Conviction: +5%, Raw: -8%)
Flow Direction
|net sentiment| ≥25%Conviction-weighted: +5% (neutral) — Raw: -8%
OI Skew Magnitude
≥15%|OI skew| 11.9% — balanced
Volume-OI Alignment
Same sign, |vol skew| ≥10%Vol skew +38.5%, OI skew -11.9% — divergent (opposite)
Conviction Quality
≥2/3 conditions0-DTE 15%, 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: +60%, OTM: -43% — strong bearish (ITM/ATM divergent)
Sector Relative≤40% or ≥60%
Sector P/C percentile 46% — neutral vs sector
Activity
Unusual activity?
2.6
QuietActive
Detects volume surges,
block trades
, and unusual options activity that may signal moves.Risk Checks1/9 checks passed
Volume Surge
≥1.5xVolume 0.1x avg — normal
Turnover Rate
≥15%Vol/OI 0.2% — 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 +3.8% (5d) — building
Sector Relative≥60%
Sector activity percentile 7% — quiet vs sector
Trade Quality
≥30%Large trade volume 0% — mostly retail
Execution Urgency
≥60%Aggressive execution 60% — urgent
Flow Conviction
≥30Conviction +5 (bullish) — mixed
Liquidity
Can I trade efficiently?
2.0
IlliquidLiquid
Evaluates
bid-ask spreads
, volume depth, and open interest for trade execution quality.Risk Checks0/8 checks passed
Tradeable Spread
≤5.0%Spread 64.9% — wide
Adequate OI
≥10,000OI 6,453 — thin
Active Volume
≥500Volume 13/day — thin
Reasonable Cost
≤$0.50$3.24 to cross — expensive
Strike Coverage
≥5 strikes0 liquid strikes — limited options
Sector Relative≤40%
Sector spread percentile 88% — much wider than sector
Order Book Depth
≥100 contractsDepth 9.1 contracts (bid:5.2 ask:3.9) — thin
Execution Quality
<1.0%Avg slippage 18.73% — poor
Timing
Is now a good time?
7.2
RiskyFavorable
Considers earnings proximity,
time decay
, and event calendar for optimal entry timing.Risk Checks6/9 checks passed
Term Structure Clarity
|slope| ≥5%Slope -49.5% — contango
IV Percentile Clarity
<30 or >70IV percentile 90% — seller opportunity
Event Detection
≥10pts kinkIV kink -30.9pts — no clear event
Theta/Vega Clarity
<0.5 or >2.0θ/ν ratio 334.72 — favors income trades
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 +5% @ 50% consistency — unclear
Smart Money Timing
≥40 composite scoreScore 30 (ITM 20% + inst 0%) — retail dominated
Directional Strategy Fit
Option Buyers
Long Calls4.3
bullishIV expensive, mixed flow
Long Puts3.7
bearishIV expensive, mixed flow
Premium Sellers
Cash-Secured Put5.8
bullishIV rich premium, mixed flow
Covered Call5.2
bearishIV rich premium, mixed flow
For educational purposes only. Not investment advice.