CMPSCOMPASS Pathways Plc American Depository Shares
CMPS Options Overview
IV is elevated with bullish flow. No clear edge detected.
REWARDS
RISK ANALYSIS
CMPS Gamma Walls
CMPS Hedge Radar
Fragility reads high; protection is priced cheap. Neither axis is a forecast — this is where CMPS sits on protection cost vs. fragility today.
Protection is priced in the cheap band (2.61) — near-dated vol is priced 15% below far-dated, and implied vol sits in the 0th percentile of its own past year, measured against this name's own rolling 21-trading-day realized moves (483 overlapping windows). Fragility reads fragile (6.62): it is trading 14% above its hedge wall on a wall graded MEDIUM for reliability, a name whose wall relationship is measured as inverted, and its realized-vol regime is stable.
Value
Is IV priced right?
Measures whether options are cheap, fair, or rich relative to historical and peer
IV Rank 89.8% — elevated vs history
IV/HV 1.18x — IV premium over HV
Sector percentile 72% — above sector median
Front/Back 0.96x — contango
Put/Call IV 1.16x — elevated
ATM IV 76.1% — normal range
Effective IV 114.9% (ATM 76.1% + spread 19.4% + bias) — expensive
Total drag 26.78% (spread 19.39% + slippage 7.39%) — high friction
Vega efficiency 1.85 (vega 3.586 / spread 19.39%) — spread drag
Sentiment
Bullish or bearish?
Analyzes
Conviction-weighted: +29% (bullish) — Raw: +21%
|OI skew| 65.9% — call-heavy
Vol skew +71.5%, OI skew +65.9% — aligned
0-DTE 0%, far-OTM 15%, avg DTE 30
OI change +0.0% (5d) — stable
ITM: +14%, ATM: +56%, OTM: +12% — strong bullish (ITM/ATM aligned)
Sector P/C percentile 25% — very bullish vs sector
Activity
Unusual activity?
Detects volume surges,
Volume 0.5x avg — normal
Vol/OI 1.6% — normal turnover
1 day(s) elevated — may be one-day event
OI change +8.3% (5d) — building
Sector activity percentile 54% — neutral vs sector
Large trade volume 5% — mostly retail
Aggressive execution 42% — patient
Conviction +29 (bullish) — mixed
Liquidity
Can I trade efficiently?
Evaluates
Spread 19.4% — wide
OI 130,047 — deep
Volume 2,108/day — adequate
$0.97 to cross — expensive
0 liquid strikes — limited options
Sector spread percentile 89% — much wider than sector
Depth 165.6 contracts (bid:85.5 ask:80.1) — adequate
Avg slippage 7.39% — poor
Timing
Is now a good time?
Considers earnings proximity,
Slope -4.3% — flat/unclear
IV percentile 90% — seller opportunity
IV kink 3.1pts — no clear event
θ/ν ratio 381.45 — favors income trades
4 liquid expirations — flexible
caution advised: FOMC in 5d; CPI in 0d (HIGH)
Spread ratio 1.00x — stable
Flow +29% @ 64% consistency — moderate (bullish)
Score 35 (ITM 20% + inst 5%) — 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 Sep 7, 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.