CRCLCircle Internet Group, Inc.
CRCL Options Overview
IV is elevated with unusual activity. Conditions favor premium sellers.
REWARDS
RISK ANALYSIS
CRCL Gamma Walls
Value
Is IV priced right?
Measures whether options are cheap, fair, or rich relative to historical and peer
IV Rank 92.2% — elevated vs history
IV/HV 0.86x — IV ≤ HV
Sector percentile 94% — above sector median
Front/Back 1.08x — backwardation
Put/Call IV 1.16x — elevated
ATM IV 84.0% — crisis-level IV
Effective IV 95.9% (ATM 84.0% + spread 5.9% + bias) — expensive
Total drag 8.60% (spread 5.94% + slippage 2.66%) — high friction
Vega efficiency 12.92 (vega 7.672 / spread 5.94%) — efficient
Sentiment
Bullish or bearish?
Analyzes
Conviction-weighted: +8% (neutral) — Raw: -8%
|OI skew| 10.8% — balanced
Vol skew +26.5%, OI skew +10.8% — aligned
0-DTE 35%, far-OTM 15%, avg DTE 30
OI change +0.0% (5d) — stable
ITM: +46%, ATM: +16%, OTM: -18% — strong bullish (ITM/ATM aligned)
Sector P/C percentile 21% — very bullish vs sector
Activity
Unusual activity?
Detects volume surges,
Volume 0.6x avg — normal
Vol/OI 7.0% — normal turnover
1 day(s) elevated — may be one-day event
OI change +2.5% (5d) — building
Sector activity percentile 81% — very active vs sector
Large trade volume 25% — mixed
Aggressive execution 24% — patient
Conviction +8 (bullish) — mixed
Liquidity
Can I trade efficiently?
Evaluates
Spread 5.9% — wide
OI 831,708 — deep
Volume 58,585/day — active
$0.30 to cross — cheap
0 liquid strikes — limited options
Sector spread percentile 96% — much wider than sector
Depth 195.0 contracts (bid:96.3 ask:98.7) — adequate
Avg slippage 2.66% — poor
Timing
Is now a good time?
Considers earnings proximity,
Slope +8.4% — backwardation
IV percentile 92% — seller opportunity
IV kink 7.7pts — no clear event
θ/ν ratio 37.83 — favors income trades
5 liquid expirations — flexible
caution advised: FOMC in 6d; CPI in 1d (HIGH)
Spread ratio 1.00x — stable
Flow +8% @ 54% consistency — unclear
Score 55 (ITM 20% + inst 25%) — moderate institutional
Directional Strategy Fit
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.