IV is elevated. Conditions favor premium sellers.
Is IV priced right?
Measures whether options are cheap, fair, or rich relative to historical and peer
IV Rank 90.6% — elevated vs history
IV/HV 1.30x — IV premium over HV
Sector percentile 85% — above sector median
Front/Back 1.09x — backwardation
Put/Call IV 1.16x — elevated
ATM IV 96.4% — crisis-level IV
Effective IV 109.2% (ATM 96.4% + spread 6.4% + bias) — expensive
Total drag 11.95% (spread 6.42% + slippage 5.53%) — high friction
Vega efficiency 13.04 (vega 8.370 / spread 6.42%) — efficient
Bullish or bearish?
Analyzes
Conviction-weighted: -4% (neutral) — Raw: +1%
|OI skew| 6.6% — balanced
Vol skew -17.5%, OI skew -6.6% — aligned
0-DTE 38%, far-OTM 15%, avg DTE 30
OI change +0.0% (5d) — stable
ITM: -5%, ATM: -10%, OTM: +4% — neutral (ITM/ATM aligned)
Sector P/C percentile 90% — very bearish vs sector
Unusual activity?
Detects volume surges,
Volume 0.7x avg — normal
Vol/OI 8.1% — normal turnover
Top 3 strikes = 50% — dispersed
1 day(s) elevated — may be one-day event
OI change +27.6% (5d) — building
Sector activity percentile 72% — active vs sector
Large trade volume 5% — mostly retail
Aggressive execution 29% — patient
Conviction -4 (bearish) — mixed
Can I trade efficiently?
Evaluates
Spread 6.4% — wide
OI 219,131 — deep
Volume 17,688/day — active
$0.32 to cross — cheap
5 liquid strikes — good coverage
Sector spread percentile 92% — much wider than sector
Depth 87.1 contracts (bid:44.6 ask:42.5) — thin
Avg slippage 5.53% — poor
Is now a good time?
Considers earnings proximity,
Slope +8.7% — backwardation
IV percentile 91% — seller opportunity
IV kink 8.0pts — no clear event
θ/ν ratio 1.97 — favors mixed
5 liquid expirations — flexible
safe window: No earnings detected
Spread ratio 1.00x — stable
Flow -4% @ 52% consistency — unclear
Score 35 (ITM 20% + inst 5%) — retail dominated
For educational purposes only. Not investment advice.