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CRCOYieldMax CRCL Option Income Strategy ETF

Options Analysis Report
Market Cap: --|ARCX
● 2026-08-31$14.97
BULLISH
Analysis: 2026-08-28 EOD data
1Y -69.6%YTD -40.1%7D -2.2%
12
30D
±20.0%
31%

CRCO Options Overview

IV is elevated. Conditions favor premium sellers.

REWARDS

RISK ANALYSIS

4.3VALUESENTIMENTACTIVITYLIQUIDITYTIMING

Snowflake Analysis

Favorable conditions for premium sellers

Learn
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CRCO Gamma Walls

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Value

Is IV priced right?

3.0
ExpensiveCheap

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

levels.

Risk Checks2/9 checks passed
≤35%

IV Rank 92.8% — elevated vs history

<1.05x

IV/HV 1.61x — IV premium over HV

Sector Relative≤50%

Sector percentile 95% — above sector median

<1.1x

Front/Back 0.52x — contango

<1.25x

Put/Call IV 1.16x — elevated

<80%

ATM IV 80.3% — crisis-level IV

<80%

Effective IV 247.2% (ATM 80.3% + spread 83.4% + bias) — expensive

<3.0%

Total drag 98.52% (spread 83.44% + slippage 15.08%) — high friction

≥5.0

Vega efficiency 0.00 (vega 0.000 / spread 83.44%) — spread drag

Sentiment

Bullish or bearish?

5.5
BearishBullish

Analyzes

,
, and flow direction to determine market bias.

Risk ChecksBearish - Strong signal (Conviction: -29%, Raw: -33%)
|net sentiment| ≥25%

Conviction-weighted: -29% (bearish) — Raw: -33%

≥15%

|OI skew| 13.5% — balanced

Same sign, |vol skew| ≥10%

Vol skew +83.3%, OI skew +13.5% — 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: +0%, ATM: -33%, OTM: +0% — bearish (ITM/ATM divergent)

Sector Relative≤40% or ≥60%

Sector P/C percentile 5% — very bullish vs sector

Activity

Unusual activity?

4.0
QuietActive

Detects volume surges,

, and unusual options activity that may signal moves.

Risk Checks2/8 checks passed
≥1.5x

Volume 0.6x avg — normal

≥15%

Vol/OI 4.2% — normal turnover

≥2 days

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

≥5%

OI change +17.0% (5d) — building

Sector Relative≥60%

Sector activity percentile 65% — active vs sector

≥30%

Large trade volume 0% — mostly retail

≥60%

Aggressive execution 0% — patient

≥30

Conviction -29 (bearish) — mixed

Liquidity

Can I trade efficiently?

2.1
IlliquidLiquid

Evaluates

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

Risk Checks1/8 checks passed
≤5.0%

Spread 83.4% — wide

≥10,000

OI 289 — thin

≥500

Volume 12/day — thin

≤$0.50

$4.17 to cross — expensive

≥5 strikes

0 liquid strikes — limited options

Sector Relative≤40%

Sector spread percentile 96% — much wider than sector

≥100 contracts

Depth 364.7 contracts (bid:212.7 ask:152.0) — adequate

<1.0%

Avg slippage 15.08% — poor

Timing

Is now a good time?

6.9
RiskyFavorable

Considers earnings proximity,

, and event calendar for optimal entry timing.

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

Slope -48.4% — contango

<30 or >70

IV percentile 93% — seller opportunity

≥10pts kink

IV kink -23.1pts — no clear event

<0.5 or >2.0

θ/ν ratio 1.00 — favors mixed

≥3 expirations

4 liquid expirations — flexible

≥60% (safe)

safe window: No earnings detected

<1.2 ratio

Spread ratio 1.00x — stable

≥25% strength + ≥50% consistency

Flow -29% @ 67% consistency — moderate (bearish)

≥40 composite score

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

Directional Strategy Fit

Option Buyers
Long Calls4.3
bullishIV expensive, mixed flow
Long Puts4.0
bearishIV expensive, mixed flow
Premium Sellers
Cash-Secured Put5.5
bullishIV rich premium, mixed flow
Covered Call5.1
bearishIV rich premium, mixed 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.

More on CRCO

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