CPNGCoupang, Inc.
Options Analysis Report•RETAIL-CATALOG & MAIL-ORDER HOUSES
Market Cap $27.1B|NYSE
● 2026-06-10$15.12
VERY BULLISH
Analysis: 2026-06-09 EOD data
1Y -46.5%YTD -35.3%7D -8.5%
Options Vol
38,578
30D
Implied Move
±17.3%
IV Rank
45%
CPNG Options Overview
IV is elevated with bullish flow. No clear edge detected.
REWARDS
RISK ANALYSIS
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Value
Is IV priced right?
3.2
ExpensiveCheap
Measures whether options are cheap, fair, or rich relative to historical and peer
IV
levels.Risk Checks2/9 checks passed
IV Rank
≤35%IV Rank 79.5% — elevated vs history
IV/HV Ratio
<1.05xIV/HV 1.12x — IV premium over HV
Sector Relative≤50%
Sector percentile 83% — above sector median
Term Structure
<1.1xFront/Back 1.22x — backwardation
Skew Normal
<1.25xPut/Call IV 1.16x — elevated
Absolute IV
<80%ATM IV 63.6% — normal range
Spread-Adjusted Value
<80%Effective IV 101.1% (ATM 63.6% + spread 18.8% + bias) — expensive
Execution Efficiency
<3.0%Total drag 24.61% (spread 18.75% + slippage 5.86%) — high friction
Vega Efficiency
≥5.0Vega efficiency 1.50 (vega 2.806 / spread 18.75%) — spread drag
Sentiment
Bullish or bearish?
7.4
BearishBullish
Analyzes
put/call ratios
, open interest skew
, and flow direction to determine market bias.Risk ChecksBullish - Strong signal (Conviction: +26%, Raw: +23%)
Flow Direction
|net sentiment| ≥25%Conviction-weighted: +26% (bullish) — Raw: +23%
OI Skew Magnitude
≥15%|OI skew| 59.1% — call-heavy
Volume-OI Alignment
Same sign, |vol skew| ≥10%Vol skew +91.1%, OI skew +59.1% — 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: +19%, ATM: +42%, OTM: +19% — strong bullish (ITM/ATM aligned)
Sector Relative≤40% or ≥60%
Sector P/C percentile 8% — very bullish vs sector
Activity
Unusual activity?
5.2
QuietActive
Detects volume surges,
block trades
, and unusual options activity that may signal moves.Risk Checks3/9 checks passed
Volume Surge
≥1.5xVolume 1.1x avg — normal
Turnover Rate
≥15%Vol/OI 4.6% — 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 +14.7% (5d) — building
Sector Relative≥60%
Sector activity percentile 79% — active vs sector
Trade Quality
≥30%Large trade volume 51% — heavy institutional
Execution Urgency
≥60%Aggressive execution 47% — patient
Flow Conviction
≥30Conviction +26 (bullish) — mixed
Liquidity
Can I trade efficiently?
3.9
IlliquidLiquid
Evaluates
bid-ask spreads
, volume depth, and open interest for trade execution quality.Risk Checks3/8 checks passed
Tradeable Spread
≤5.0%Spread 18.8% — wide
Adequate OI
≥10,000OI 838,903 — deep
Active Volume
≥500Volume 38,578/day — active
Reasonable Cost
≤$0.50$0.94 to cross — expensive
Strike Coverage
≥5 strikes0 liquid strikes — limited options
Sector Relative≤40%
Sector spread percentile 91% — much wider than sector
Order Book Depth
≥100 contractsDepth 282.5 contracts (bid:167.0 ask:115.5) — adequate
Execution Quality
<1.0%Avg slippage 5.86% — poor
Timing
Is now a good time?
7.5
RiskyFavorable
Considers earnings proximity,
time decay
, and event calendar for optimal entry timing.Risk Checks8/9 checks passed
Term Structure Clarity
|slope| ≥5%Slope +21.9% — backwardation
IV Percentile Clarity
<30 or >70IV percentile 80% — seller opportunity
Event Detection
≥10pts kinkIV kink 13.6pts — event priced
Theta/Vega Clarity
<0.5 or >2.0θ/ν ratio 210.96 — favors income trades
Expiration Distribution
≥3 expirations5 liquid expirations — flexible
Event Risk
≥60% (safe)caution advised: FOMC in 7d; CPI in 0d (HIGH)
Spread Momentum
<1.2 ratioSpread ratio 1.00x — stable
Flow Momentum
≥25% strength + ≥50% consistencyFlow +26% @ 63% consistency — moderate (bullish)
Smart Money Timing
≥40 composite scoreScore 81 (ITM 20% + inst 51%) — HIGH institutional
Directional Strategy Fit
Option Buyers
Long Calls5.4
bullishIV expensive, bullish flow
Long Puts3.7
bearishIV expensive, bullish flow
Premium Sellers
Cash-Secured Put6.6
bullishIV rich premium, bullish flow
Covered Call4.9
bearishIV rich premium, bullish flow
For educational purposes only. Not investment advice.