CMPXCompass Therapeutics, Inc. Common Stock
Options Analysis Report•BIOLOGICAL PRODUCTS, (NO DIAGNOSTIC SUBSTANCES)
Market Cap $357M|NASDAQ
● 2026-05-15$1.98
VERY BULLISH
Analysis: 2026-05-14 EOD data
1Y -2.0%YTD -61.7%7D +8.2%
Options Vol
3,289
30D
Implied Move
±8.6%
IV Rank
0%
CMPX Options Overview
IV is elevated with bullish flow. No clear edge detected.
REWARDS
RISK ANALYSIS
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Value
Is IV priced right?
5.0
ExpensiveCheap
Measures whether options are cheap, fair, or rich relative to historical and peer
IV
levels.Risk Checks3/9 checks passed
IV Rank
≤35%IV Rank 92.7% — elevated vs history
IV/HV Ratio
<1.05xIV/HV 0.28x — IV ≤ HV
Sector Relative≤50%
Sector percentile 79% — above sector median
Term Structure
<1.1xFront/Back 0.96x — contango
Skew Normal
<1.25xPut/Call IV 1.16x — elevated
Absolute IV
<80%ATM IV 106.2% — crisis-level IV
Spread-Adjusted Value
<80%Effective IV 168.8% (ATM 106.2% + spread 31.3% + bias) — expensive
Execution Efficiency
<3.0%Total drag 45.74% (spread 31.29% + slippage 14.45%) — high friction
Vega Efficiency
≥5.0Vega efficiency 0.10 (vega 0.325 / spread 31.29%) — spread drag
Sentiment
Bullish or bearish?
8.2
BearishBullish
Analyzes
put/call ratios
, open interest skew
, and flow direction to determine market bias.Risk ChecksVery Bullish - Strong signal (Conviction: +47%, Raw: +12%)
Flow Direction
|net sentiment| ≥25%Conviction-weighted: +47% (strong bullish) — Raw: +12%
OI Skew Magnitude
≥15%|OI skew| 71.5% — call-heavy
Volume-OI Alignment
Same sign, |vol skew| ≥10%Vol skew +94.8%, OI skew +71.5% — aligned
Conviction Quality
≥2/3 conditions0-DTE 38%, far-OTM 15%, avg DTE 30
OI Momentum
|change| ≥3%OI change +0.0% (5d) — stable
Smart Money Flow
|weighted flow| ≥20%ITM: -44%, ATM: +17%, OTM: -44% — bearish (ITM/ATM divergent)
Sector Relative≤40% or ≥60%
Sector P/C percentile 9% — very bullish vs sector
Activity
Unusual activity?
4.3
QuietActive
Detects volume surges,
block trades
, and unusual options activity that may signal moves.Risk Checks3/9 checks passed
Volume Surge
≥1.5xVolume 0.5x avg — normal
Turnover Rate
≥15%Vol/OI 2.7% — 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 +0.1% (5d) — stable
Sector Relative≥60%
Sector activity percentile 61% — active vs sector
Trade Quality
≥30%Large trade volume 61% — heavy institutional
Execution Urgency
≥60%Aggressive execution 58% — patient
Flow Conviction
≥30Conviction +47 (bullish) — moderate
Liquidity
Can I trade efficiently?
3.2
IlliquidLiquid
Evaluates
bid-ask spreads
, volume depth, and open interest for trade execution quality.Risk Checks3/8 checks passed
Tradeable Spread
≤5.0%Spread 31.3% — wide
Adequate OI
≥10,000OI 121,915 — deep
Active Volume
≥500Volume 3,289/day — adequate
Reasonable Cost
≤$0.50$1.56 to cross — expensive
Strike Coverage
≥5 strikes0 liquid strikes — limited options
Sector Relative≤40%
Sector spread percentile 91% — much wider than sector
Order Book Depth
≥100 contractsDepth 631.9 contracts (bid:430.4 ask:201.5) — deep
Execution Quality
<1.0%Avg slippage 14.45% — poor
Timing
Is now a good time?
7.5
RiskyFavorable
Considers earnings proximity,
time decay
, and event calendar for optimal entry timing.Risk Checks7/9 checks passed
Term Structure Clarity
|slope| ≥5%Slope -4.5% — flat/unclear
IV Percentile Clarity
<30 or >70IV percentile 93% — seller opportunity
Event Detection
≥10pts kinkIV kink 3.8pts — no clear event
Theta/Vega Clarity
<0.5 or >2.0θ/ν ratio 135.50 — 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 +47% @ 74% consistency — STRONG directional (bullish)
Smart Money Timing
≥40 composite scoreScore 91 (ITM 20% + inst 61%) — HIGH institutional
Directional Strategy Fit
Option Buyers
Long Calls6.2
bullishIV fair, bullish flow
Long Puts4.0
bearishIV fair, bullish flow
Premium Sellers
Cash-Secured Put5.7
bullishIV fair, bullish flow
Covered Call3.9
bearishIV fair, bullish flow
For educational purposes only. Not investment advice.