CLSCelestica, Inc.
Options Analysis Report•PRINTED CIRCUIT BOARDS
Market Cap $43.9B|NYSE
● 2026-05-15$381.59
NEUTRAL
Analysis: 2026-05-14 EOD data
1Y +242.3%YTD +26.2%7D +1.6%
Options Vol
7,454
30D
Implied Move
±20.4%
IV Rank
30%
CLS Options Overview
IV is elevated. Conditions favor premium sellers.
REWARDS
RISK ANALYSIS
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Value
Is IV priced right?
5.8
ExpensiveCheap
Measures whether options are cheap, fair, or rich relative to historical and peer
IV
levels.Risk Checks5/9 checks passed
IV Rank
≤35%IV Rank 82.4% — elevated vs history
IV/HV Ratio
<1.05xIV/HV 0.96x — IV ≤ HV
Sector Relative≤50%
Sector percentile 62% — above sector median
Term Structure
<1.1xFront/Back 1.01x — flat
Skew Normal
<1.25xPut/Call IV 1.16x — elevated
Absolute IV
<80%ATM IV 74.8% — normal range
Spread-Adjusted Value
<80%Effective IV 86.6% (ATM 74.8% + spread 5.9% + bias) — expensive
Execution Efficiency
<3.0%Total drag 10.22% (spread 5.89% + slippage 4.33%) — high friction
Vega Efficiency
≥5.0Vega efficiency 275.09 (vega 162.027 / spread 5.89%) — efficient
Sentiment
Bullish or bearish?
5.3
BearishBullish
Analyzes
put/call ratios
, open interest skew
, and flow direction to determine market bias.Risk ChecksNeutral - Weak signal (Conviction: +7%, Raw: +5%)
Flow Direction
|net sentiment| ≥25%Conviction-weighted: +7% (neutral) — Raw: +5%
OI Skew Magnitude
≥15%|OI skew| 7.0% — balanced
Volume-OI Alignment
Same sign, |vol skew| ≥10%Vol skew +0.3%, OI skew +7.0% — weak (same direction)
Conviction Quality
≥2/3 conditions0-DTE 30%, far-OTM 15%, avg DTE 30
OI Momentum
|change| ≥3%OI change +0.0% (5d) — stable
Smart Money Flow
|weighted flow| ≥20%ITM: +28%, ATM: +16%, OTM: -2% — bullish (ITM/ATM aligned)
Sector Relative≤40% or ≥60%
Sector P/C percentile 78% — very bearish vs sector
Activity
Unusual activity?
3.6
QuietActive
Detects volume surges,
block trades
, and unusual options activity that may signal moves.Risk Checks2/9 checks passed
Volume Surge
≥1.5xVolume 0.5x avg — normal
Turnover Rate
≥15%Vol/OI 5.9% — 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 +6.9% (5d) — building
Sector Relative≥60%
Sector activity percentile 61% — active vs sector
Trade Quality
≥30%Large trade volume 3% — mostly retail
Execution Urgency
≥60%Aggressive execution 32% — patient
Flow Conviction
≥30Conviction +7 (bullish) — mixed
Liquidity
Can I trade efficiently?
5.5
IlliquidLiquid
Evaluates
bid-ask spreads
, volume depth, and open interest for trade execution quality.Risk Checks4/8 checks passed
Tradeable Spread
≤5.0%Spread 5.9% — wide
Adequate OI
≥10,000OI 125,590 — deep
Active Volume
≥500Volume 7,454/day — active
Reasonable Cost
≤$0.50$0.29 to cross — cheap
Strike Coverage
≥5 strikes8 liquid strikes — good coverage
Sector Relative≤40%
Sector spread percentile 79% — wider than sector
Order Book Depth
≥100 contractsDepth 45.0 contracts (bid:21.1 ask:23.9) — thin
Execution Quality
<1.0%Avg slippage 4.33% — poor
Timing
Is now a good time?
6.7
RiskyFavorable
Considers earnings proximity,
time decay
, and event calendar for optimal entry timing.Risk Checks5/9 checks passed
Term Structure Clarity
|slope| ≥5%Slope +0.9% — flat/unclear
IV Percentile Clarity
<30 or >70IV percentile 82% — seller opportunity
Event Detection
≥10pts kinkIV kink 4.5pts — no clear event
Theta/Vega Clarity
<0.5 or >2.0θ/ν ratio 1287.97 — favors income trades
Expiration Distribution
≥3 expirations5 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 +7% @ 53% consistency — unclear
Smart Money Timing
≥40 composite scoreScore 33 (ITM 20% + inst 3%) — retail dominated
Directional Strategy Fit
Option Buyers
Long Calls5.7
bullishIV fair, mixed flow
Long Puts5.5
bearishIV fair, mixed flow
Premium Sellers
Cash-Secured Put5.2
bullishIV fair, mixed flow
Covered Call5.0
bearishIV fair, mixed flow
For educational purposes only. Not investment advice.