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CORTCorcept Therapeutics Inc.

Options Analysis Report•PHARMACEUTICAL PREPARATIONS
Market Cap $12.3B|NASDAQ
● 2026-08-31$113.88
BULLISH
Analysis: 2026-08-28 EOD data
1Y +59.5%YTD +198.1%7D -7.6%
260
30D
±11.1%
4%

CORT Options Overview

IV is elevated. Conditions favor premium sellers.

REWARDS

RISK ANALYSIS

4.9VALUESENTIMENTACTIVITYLIQUIDITYTIMING

Snowflake Analysis

Favorable conditions for premium sellers

Learn
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CORT Gamma Walls

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Value

Is IV priced right?

5.7
ExpensiveCheap

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

levels.

Risk Checks5/9 checks passed
≤35%

IV Rank 78.3% — elevated vs history

<1.05x

IV/HV 1.56x — IV premium over HV

Sector Relative≤50%

Sector percentile 50% — below sector median

<1.1x

Front/Back 0.59x — contango

<1.25x

Put/Call IV 1.16x — elevated

<80%

ATM IV 52.4% — normal range

<80%

Effective IV 99.0% (ATM 52.4% + spread 23.3% + bias) — expensive

<3.0%

Total drag 32.55% (spread 23.28% + slippage 9.27%) — high friction

≥5.0

Vega efficiency 13.14 (vega 30.585 / spread 23.28%) — efficient

Sentiment

Bullish or bearish?

6.9
BearishBullish

Analyzes

,
, and flow direction to determine market bias.

Risk ChecksBullish - Strong signal (Conviction: +11%, Raw: +3%)
|net sentiment| ≥25%

Conviction-weighted: +11% (bullish) — Raw: +3%

≥15%

|OI skew| 23.4% — call-heavy

Same sign, |vol skew| ≥10%

Vol skew +44.6%, OI skew +23.4% — aligned

≥2/3 conditions

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

|change| ≥3%

OI change +0.0% (5d) — stable

|weighted flow| ≥20%

ITM: -50%, ATM: -50%, OTM: +23% — strong bearish (ITM/ATM aligned)

Sector Relative≤40% or ≥60%

Sector P/C percentile 38% — bullish vs sector

Activity

Unusual activity?

2.7
QuietActive

Detects volume surges,

, and unusual options activity that may signal moves.

Risk Checks1/8 checks passed
≥1.5x

Volume 0.4x avg — normal

≥15%

Vol/OI 1.2% — normal turnover

≥2 days

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

≥5%

OI change +5.3% (5d) — building

Sector Relative≥60%

Sector activity percentile 44% — neutral vs sector

≥30%

Large trade volume 0% — mostly retail

≥60%

Aggressive execution 23% — patient

≥30

Conviction +11 (bullish) — mixed

Liquidity

Can I trade efficiently?

2.6
IlliquidLiquid

Evaluates

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

Risk Checks1/8 checks passed
≤5.0%

Spread 23.3% — wide

≥10,000

OI 21,535 — adequate

≥500

Volume 260/day — thin

≤$0.50

$1.16 to cross — expensive

≥5 strikes

0 liquid strikes — limited options

Sector Relative≤40%

Sector spread percentile 79% — wider than sector

≥100 contracts

Depth 48.099999999999994 contracts (bid:23.7 ask:24.4) — thin

<1.0%

Avg slippage 9.27% — poor

Timing

Is now a good time?

6.8
RiskyFavorable

Considers earnings proximity,

, and event calendar for optimal entry timing.

Risk Checks6/9 checks passed
|slope| ≥5%

Slope -40.9% — contango

<30 or >70

IV percentile 78% — seller opportunity

≥10pts kink

IV kink -13.2pts — no clear event

<0.5 or >2.0

θ/ν ratio 504.71 — favors income trades

≥3 expirations

4 liquid expirations — flexible

≥60% (safe)

safe window: No events detected

<1.2 ratio

Spread ratio 1.00x — stable

≥25% strength + ≥50% consistency

Flow +11% @ 56% consistency — unclear

≥40 composite score

Score 30 (ITM 20% + inst 0%) — retail dominated

Directional Strategy Fit

Option Buyers
Long Calls6.8
bullishIV fair, bullish flow
Long Puts4.5
bearishIV fair, bullish flow
Premium Sellers
Cash-Secured Put5.3
bullishIV fair, bullish flow
Covered Call3.9
bearishIV fair, 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 Aug 31, 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.

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