AInvestOption Pilot Program
Options/COP
COP logo

COPConocoPhillips

Options Analysis Report•PETROLEUM REFINING
Market Cap $164.6B|NYSE
● 2026-09-11$137.04
BULLISH
Analysis: 2026-09-10 EOD data
1Y +45.6%YTD +41.7%7D +2.1%
10,910
30D
±9.0%
10%

COP Options Overview

bullish flow. No clear edge detected.

REWARDS

RISK ANALYSIS

5.4VALUESENTIMENTACTIVITYLIQUIDITYTIMING

Snowflake Analysis

Balanced conditions with no clear edge

Learn
Loading score history...

COP Gamma Walls

Loading gamma walls...

Value

Is IV priced right?

6.8
ExpensiveCheap

Measures whether options are cheap, fair, or rich relative to historical and peer

levels.

Risk Checks6/9 checks passed
≤35%

IV Rank 46.2% — elevated vs history

<1.05x

IV/HV 1.41x — IV premium over HV

Sector Relative≤50%

Sector percentile 24% — below sector median

<1.1x

Front/Back 0.95x — contango

<1.25x

Put/Call IV 1.16x — elevated

<80%

ATM IV 32.1% — normal range

<80%

Effective IV 48.4% (ATM 32.1% + spread 8.1% + bias) — excellent value

<3.0%

Total drag 12.65% (spread 8.14% + slippage 4.51%) — high friction

≥5.0

Vega efficiency 9.22 (vega 7.507 / spread 8.14%) — efficient

Sentiment

Bullish or bearish?

6.5
BearishBullish

Analyzes

,
, and flow direction to determine market bias.

Risk ChecksNeutral - Moderate signal (Conviction: -1%, Raw: +0%)
|net sentiment| ≥25%

Conviction-weighted: -1% (neutral) — Raw: +0%

≥15%

|OI skew| 12.5% — balanced

Same sign, |vol skew| ≥10%

Vol skew +50.9%, OI skew +12.5% — aligned

≥2/3 conditions

0-DTE 13%, far-OTM 15%, avg DTE 30

|change| ≥3%

OI change +0.0% (5d) — stable

|weighted flow| ≥20%

ITM: +37%, ATM: +20%, OTM: -14% — strong bullish (ITM/ATM aligned)

Sector Relative≤40% or ≥60%

Sector P/C percentile 27% — very bullish vs sector

Activity

Unusual activity?

2.6
QuietActive

Detects volume surges,

, and unusual options activity that may signal moves.

Risk Checks0/8 checks passed
≥1.5x

Volume 0.7x avg — normal

≥15%

Vol/OI 3.5% — normal turnover

≥2 days

1 day(s) elevated — may be one-day event

≥5%

OI change +0.8% (5d) — stable

Sector Relative≥60%

Sector activity percentile 36% — below sector avg

≥30%

Large trade volume 23% — mixed

≥60%

Aggressive execution 37% — patient

≥30

Conviction -1 (bearish) — mixed

Liquidity

Can I trade efficiently?

5.2
IlliquidLiquid

Evaluates

, volume depth, and open interest for trade execution quality.

Risk Checks5/8 checks passed
≤5.0%

Spread 8.1% — wide

≥10,000

OI 310,847 — deep

≥500

Volume 10,910/day — active

≤$0.50

$0.41 to cross — cheap

≥5 strikes

0 liquid strikes — limited options

Sector Relative≤40%

Sector spread percentile 27% — tighter than sector

≥100 contracts

Depth 152.7 contracts (bid:75.2 ask:77.5) — adequate

<1.0%

Avg slippage 4.51% — poor

Timing

Is now a good time?

6.2
RiskyFavorable

Considers earnings proximity,

, and event calendar for optimal entry timing.

Risk Checks5/9 checks passed
|slope| ≥5%

Slope -5.4% — contango

<30 or >70

IV percentile 46% — neutral

≥10pts kink

IV kink -1.1pts — no clear event

<0.5 or >2.0

θ/ν ratio 45.33 — favors income trades

≥3 expirations

5 liquid expirations — flexible

≥60% (safe)

caution advised: FOMC in 5d; CPI in 0d (HIGH)

<1.2 ratio

Spread ratio 1.00x — stable

≥25% strength + ≥50% consistency

Flow -1% @ 51% consistency — unclear

≥40 composite score

Score 53 (ITM 20% + inst 23%) — moderate institutional

Directional Strategy Fit

Option Buyers
Long Calls6.9
bullishIV cheap, bullish flow
Long Puts5.3
bearishIV cheap, bullish flow
Premium Sellers
Cash-Secured Put5.2
bullishIV too cheap, bullish flow
Covered Call4.2
bearishIV too cheap, bullish flow

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.

More on COP

COP gamma wallsCOP option chainCOP max painCOP expected moveCOP IV rankCOP put/call ratioCOP options flow