CNTACentessa Pharmaceuticals plc American Depositary Shares
Options Analysis Report•PHARMACEUTICAL PREPARATIONS
Market Cap $6.1B|NASDAQ
● 2026-05-15$39.60
BEARISH
Analysis: 2026-05-14 EOD data
1Y +214.5%YTD +67.2%7D +0.0%
Options Vol
424
30D
Implied Move
±8.6%
IV Rank
3%
CNTA Options Overview
IV is low. Conditions favor option buyers.
REWARDS
RISK ANALYSIS
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Value
Is IV priced right?
7.6
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 3.5% — cheap vs history
IV/HV Ratio
<1.05xIV/HV 6.14x — IV premium over HV
Sector Relative≤50%
Sector percentile 0% — below sector median
Term Structure
<1.1xFront/Back 0.58x — contango
Skew Normal
<1.25xPut/Call IV 1.16x — elevated
Absolute IV
<80%ATM IV 17.5% — normal range
Spread-Adjusted Value
<80%Effective IV 56.0% (ATM 17.5% + spread 19.3% + bias) — good value
Execution Efficiency
<3.0%Total drag 34.98% (spread 19.27% + slippage 15.71%) — high friction
Vega Efficiency
≥5.0Vega efficiency 0.00 (vega 0.000 / spread 19.27%) — spread drag
Sentiment
Bullish or bearish?
3.8
BearishBullish
Analyzes
put/call ratios
, open interest skew
, and flow direction to determine market bias.Risk ChecksNeutral - Strong signal (Conviction: +7%, Raw: +17%)
Flow Direction
|net sentiment| ≥25%Conviction-weighted: +7% (neutral) — Raw: +17%
OI Skew Magnitude
≥15%|OI skew| 49.7% — put-heavy
Volume-OI Alignment
Same sign, |vol skew| ≥10%Vol skew -99.5%, OI skew -49.7% — aligned
Conviction Quality
≥2/3 conditions0-DTE 0%, far-OTM 15%, avg DTE 30
OI Momentum
|change| ≥3%OI change +0.0% (5d) — stable
Smart Money Flow
|weighted flow| ≥20%ITM: +0%, ATM: -100%, OTM: +55% — strong bearish (ITM/ATM divergent)
Sector Relative≤40% or ≥60%
Sector P/C percentile 100% — very bearish vs sector
Activity
Unusual activity?
2.9
QuietActive
Detects volume surges,
block trades
, and unusual options activity that may signal moves.Risk Checks1/9 checks passed
Volume Surge
≥1.5xVolume 0.5x avg — normal
Turnover Rate
≥15%Vol/OI 0.9% — 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 +3.7% (5d) — building
Sector Relative≥60%
Sector activity percentile 32% — below sector avg
Trade Quality
≥30%Large trade volume 0% — mostly retail
Execution Urgency
≥60%Aggressive execution 71% — urgent
Flow Conviction
≥30Conviction +7 (bullish) — mixed
Liquidity
Can I trade efficiently?
2.8
IlliquidLiquid
Evaluates
bid-ask spreads
, volume depth, and open interest for trade execution quality.Risk Checks1/8 checks passed
Tradeable Spread
≤5.0%Spread 19.3% — wide
Adequate OI
≥10,000OI 46,190 — adequate
Active Volume
≥500Volume 424/day — thin
Reasonable Cost
≤$0.50$0.96 to cross — expensive
Strike Coverage
≥5 strikes0 liquid strikes — limited options
Sector Relative≤40%
Sector spread percentile 59% — neutral vs sector
Order Book Depth
≥100 contractsDepth 60.5 contracts (bid:37.4 ask:23.1) — thin
Execution Quality
<1.0%Avg slippage 15.71% — poor
Timing
Is now a good time?
6.4
RiskyFavorable
Considers earnings proximity,
time decay
, and event calendar for optimal entry timing.Risk Checks5/9 checks passed
Term Structure Clarity
|slope| ≥5%Slope -42.4% — contango
IV Percentile Clarity
<30 or >70IV percentile 4% — buyer opportunity
Event Detection
≥10pts kinkIV kink -7.1pts — 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 +7% @ 54% consistency — unclear
Smart Money Timing
≥40 composite scoreScore 30 (ITM 20% + inst 0%) — retail dominated
Directional Strategy Fit
Option Buyers
Long Calls5.3
bullishIV cheap, bearish flow
Long Puts6.9
bearishIV cheap, bearish flow
Premium Sellers
Cash-Secured Put3.6
bullishIV too cheap, bearish flow
Covered Call4.4
bearishIV too cheap, bearish flow
For educational purposes only. Not investment advice.