CNRCore Natural Resources, Inc.
Options Analysis Report•BITUMINOUS COAL & LIGNITE MINING
Market Cap $4.2B|NYSE
● 2026-05-15$84.08
BULLISH
Analysis: 2026-05-14 EOD data
1Y +15.9%YTD -6.5%7D -1.0%
Options Vol
336
30D
Implied Move
±8.6%
IV Rank
16%
CNR Options Overview
bullish flow. No clear edge detected.
REWARDS
RISK ANALYSIS
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Value
Is IV priced right?
5.6
ExpensiveCheap
Measures whether options are cheap, fair, or rich relative to historical and peer
IV
levels.Risk Checks4/9 checks passed
IV Rank
≤35%IV Rank 62.1% — elevated vs history
IV/HV Ratio
<1.05xIV/HV 1.30x — IV premium over HV
Sector Relative≤50%
Sector percentile 61% — above sector median
Term Structure
<1.1xFront/Back 0.95x — contango
Skew Normal
<1.25xPut/Call IV 1.16x — elevated
Absolute IV
<80%ATM IV 50.6% — normal range
Spread-Adjusted Value
<80%Effective IV 80.2% (ATM 50.6% + spread 14.8% + bias) — expensive
Execution Efficiency
<3.0%Total drag 23.58% (spread 14.78% + slippage 8.80%) — high friction
Vega Efficiency
≥5.0Vega efficiency 13.24 (vega 19.576 / spread 14.78%) — efficient
Sentiment
Bullish or bearish?
5.6
BearishBullish
Analyzes
put/call ratios
, open interest skew
, and flow direction to determine market bias.Risk ChecksBullish - Moderate signal (Conviction: +24%, Raw: +44%)
Flow Direction
|net sentiment| ≥25%Conviction-weighted: +24% (bullish) — Raw: +44%
OI Skew Magnitude
≥15%|OI skew| 21.8% — call-heavy
Volume-OI Alignment
Same sign, |vol skew| ≥10%Vol skew -11.3%, OI skew +21.8% — divergent (opposite)
Conviction Quality
≥2/3 conditions0-DTE 48%, far-OTM 15%, avg DTE 30
OI Momentum
|change| ≥3%OI change +0.0% (5d) — stable
Smart Money Flow
|weighted flow| ≥20%ITM: +2%, ATM: +87%, OTM: +4% — strong bullish (ITM/ATM aligned)
Sector Relative≤40% or ≥60%
Sector P/C percentile 89% — very bearish vs sector
Activity
Unusual activity?
2.5
QuietActive
Detects volume surges,
block trades
, and unusual options activity that may signal moves.Risk Checks0/9 checks passed
Volume Surge
≥1.5xVolume 0.6x avg — normal
Turnover Rate
≥15%Vol/OI 1.1% — 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 +0.5% (5d) — stable
Sector Relative≥60%
Sector activity percentile 24% — below sector avg
Trade Quality
≥30%Large trade volume 0% — mostly retail
Execution Urgency
≥60%Aggressive execution 33% — patient
Flow Conviction
≥30Conviction +24 (bullish) — mixed
Liquidity
Can I trade efficiently?
2.8
IlliquidLiquid
Evaluates
bid-ask spreads
, volume depth, and open interest for trade execution quality.Risk Checks2/8 checks passed
Tradeable Spread
≤5.0%Spread 14.8% — wide
Adequate OI
≥10,000OI 30,074 — adequate
Active Volume
≥500Volume 336/day — thin
Reasonable Cost
≤$0.50$0.74 to cross — expensive
Strike Coverage
≥5 strikes0 liquid strikes — limited options
Sector Relative≤40%
Sector spread percentile 77% — wider than sector
Order Book Depth
≥100 contractsDepth 106.2 contracts (bid:73.9 ask:32.3) — adequate
Execution Quality
<1.0%Avg slippage 8.80% — poor
Timing
Is now a good time?
6.6
RiskyFavorable
Considers earnings proximity,
time decay
, and event calendar for optimal entry timing.Risk Checks4/9 checks passed
Term Structure Clarity
|slope| ≥5%Slope -4.7% — flat/unclear
IV Percentile Clarity
<30 or >70IV percentile 62% — neutral
Event Detection
≥10pts kinkIV kink -1.5pts — no clear event
Theta/Vega Clarity
<0.5 or >2.0θ/ν ratio 485.75 — 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 +24% @ 62% consistency — unclear
Smart Money Timing
≥40 composite scoreScore 30 (ITM 20% + inst 0%) — retail dominated
Directional Strategy Fit
Option Buyers
Long Calls5.3
bullishIV fair, mixed flow
Long Puts4.9
bearishIV fair, mixed flow
Premium Sellers
Cash-Secured Put4.8
bullishIV fair, mixed flow
Covered Call4.4
bearishIV fair, mixed flow
For educational purposes only. Not investment advice.