CMPSCOMPASS Pathways Plc American Depository Shares
Options Analysis Report•PHARMACEUTICAL PREPARATIONS
Market Cap $1.4B|NASDAQ
● 2026-05-15$10.62
BULLISH
Analysis: 2026-05-14 EOD data
1Y +168.9%YTD +62.1%7D +7.2%
Options Vol
8,154
30D
Implied Move
±8.6%
IV Rank
9%
CMPS Options Overview
bullish flow with unusual activity. Conditions favor option buyers.
REWARDS
RISK ANALYSIS
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Value
Is IV priced right?
7.0
ExpensiveCheap
Measures whether options are cheap, fair, or rich relative to historical and peer
IV
levels.Risk Checks6/9 checks passed
IV Rank
≤35%IV Rank 50.0% — elevated vs history
IV/HV Ratio
<1.05xIV/HV 1.00x — IV ≤ HV
Sector Relative≤50%
Sector percentile 50% — below sector median
Term Structure
<1.1xFront/Back 1.00x — flat
Skew Normal
<1.25xPut/Call IV 1.00x — normal
Absolute IV
<80%ATM IV 0.0% — normal range
Spread-Adjusted Value
<80%Effective IV 38.1% (ATM 0.0% + spread 19.1% + bias) — excellent value
Execution Efficiency
<3.0%Total drag 24.78% (spread 19.07% + slippage 5.71%) — high friction
Vega Efficiency
≥5.0Vega efficiency 0.00 (vega 0.000 / spread 19.07%) — spread drag
Sentiment
Bullish or bearish?
7.2
BearishBullish
Analyzes
put/call ratios
, open interest skew
, and flow direction to determine market bias.Risk ChecksBullish - Strong signal (Conviction: +20%, Raw: +30%)
Flow Direction
|net sentiment| ≥25%Conviction-weighted: +20% (bullish) — Raw: +30%
OI Skew Magnitude
≥15%|OI skew| 24.1% — call-heavy
Volume-OI Alignment
Same sign, |vol skew| ≥10%Vol skew +90.2%, OI skew +24.1% — aligned
Conviction Quality
≥2/3 conditions0-DTE 18%, far-OTM 15%, avg DTE 30
OI Momentum
|change| ≥3%OI change +0.0% (5d) — stable
Smart Money Flow
|weighted flow| ≥20%ITM: -16%, ATM: -57%, OTM: +47% — strong bearish (ITM/ATM aligned)
Sector Relative≤40% or ≥60%
Sector P/C percentile 16% — very bullish vs sector
Activity
Unusual activity?
4.5
QuietActive
Detects volume surges,
block trades
, and unusual options activity that may signal moves.Risk Checks2/9 checks passed
Volume Surge
≥1.5xVolume 1.0x avg — normal
Turnover Rate
≥15%Vol/OI 6.2% — 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 +3.9% (5d) — building
Sector Relative≥60%
Sector activity percentile 81% — very active vs sector
Trade Quality
≥30%Large trade volume 52% — heavy institutional
Execution Urgency
≥60%Aggressive execution 43% — patient
Flow Conviction
≥30Conviction +20 (bullish) — mixed
Liquidity
Can I trade efficiently?
4.0
IlliquidLiquid
Evaluates
bid-ask spreads
, volume depth, and open interest for trade execution quality.Risk Checks4/8 checks passed
Tradeable Spread
≤5.0%Spread 19.1% — wide
Adequate OI
≥10,000OI 132,273 — deep
Active Volume
≥500Volume 8,154/day — active
Reasonable Cost
≤$0.50$0.95 to cross — expensive
Strike Coverage
≥5 strikes0 liquid strikes — limited options
Sector Relative≤40%
Sector spread percentile 0% — much tighter than sector
Order Book Depth
≥100 contractsDepth 427.79999999999995 contracts (bid:225.1 ask:202.7) — adequate
Execution Quality
<1.0%Avg slippage 5.71% — poor
Timing
Is now a good time?
5.8
RiskyFavorable
Considers earnings proximity,
time decay
, and event calendar for optimal entry timing.Risk Checks4/9 checks passed
Term Structure Clarity
|slope| ≥5%Slope +0.0% — flat/unclear
IV Percentile Clarity
<30 or >70IV percentile 50% — neutral
Event Detection
≥10pts kinkIV kink 0.0pts — no clear event
Theta/Vega Clarity
<0.5 or >2.0θ/ν ratio 1.00 — 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 +20% @ 60% consistency — unclear
Smart Money Timing
≥40 composite scoreScore 82 (ITM 20% + inst 52%) — HIGH institutional
Directional Strategy Fit
Option Buyers
Long Calls6.4
bullishIV cheap, bullish flow
Long Puts4.9
bearishIV cheap, bullish flow
Premium Sellers
Cash-Secured Put5.1
bullishIV too cheap, bullish flow
Covered Call3.6
bearishIV too cheap, bullish flow
For educational purposes only. Not investment advice.