CRKComstock Resources, Inc.
Options Analysis Report•CRUDE PETROLEUM & NATURAL GAS
Market Cap $4.4B|NYSE
● 2026-05-15$14.88
BULLISH
Analysis: 2026-05-14 EOD data
1Y -39.0%YTD -36.9%7D +5.5%
Options Vol
1,077
30D
Implied Move
±8.6%
IV Rank
22%
CRK Options Overview
IV is elevated. No clear edge detected.
REWARDS
RISK ANALYSIS
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Value
Is IV priced right?
4.6
ExpensiveCheap
Measures whether options are cheap, fair, or rich relative to historical and peer
IV
levels.Risk Checks4/9 checks passed
IV Rank
≤35%IV Rank 71.9% — elevated vs history
IV/HV Ratio
<1.05xIV/HV 0.89x — IV ≤ HV
Sector Relative≤50%
Sector percentile 72% — above sector median
Term Structure
<1.1xFront/Back 0.95x — contango
Skew Normal
<1.25xPut/Call IV 1.16x — elevated
Absolute IV
<80%ATM IV 59.9% — normal range
Spread-Adjusted Value
<80%Effective IV 108.4% (ATM 59.9% + spread 24.3% + bias) — expensive
Execution Efficiency
<3.0%Total drag 30.47% (spread 24.26% + slippage 6.21%) — high friction
Vega Efficiency
≥5.0Vega efficiency 1.72 (vega 4.165 / spread 24.26%) — spread drag
Sentiment
Bullish or bearish?
5.0
BearishBullish
Analyzes
put/call ratios
, open interest skew
, and flow direction to determine market bias.Risk ChecksVery Bearish - Strong signal (Conviction: -42%, Raw: -34%)
Flow Direction
|net sentiment| ≥25%Conviction-weighted: -42% (strong bearish) — Raw: -34%
OI Skew Magnitude
≥15%|OI skew| 41.1% — call-heavy
Volume-OI Alignment
Same sign, |vol skew| ≥10%Vol skew +68.1%, OI skew +41.1% — aligned
Conviction Quality
≥2/3 conditions0-DTE 15%, far-OTM 15%, avg DTE 30
OI Momentum
|change| ≥3%OI change +0.0% (5d) — stable
Smart Money Flow
|weighted flow| ≥20%ITM: +24%, ATM: +70%, OTM: -57% — strong bullish (ITM/ATM aligned)
Sector Relative≤40% or ≥60%
Sector P/C percentile 42% — bullish vs sector
Activity
Unusual activity?
3.4
QuietActive
Detects volume surges,
block trades
, and unusual options activity that may signal moves.Risk Checks2/9 checks passed
Volume Surge
≥1.5xVolume 0.6x avg — normal
Turnover Rate
≥15%Vol/OI 1.2% — 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 +2.8% (5d) — building
Sector Relative≥60%
Sector activity percentile 26% — below sector avg
Trade Quality
≥30%Large trade volume 37% — institutional presence
Execution Urgency
≥60%Aggressive execution 28% — patient
Flow Conviction
≥30Conviction -42 (bearish) — moderate
Liquidity
Can I trade efficiently?
3.0
IlliquidLiquid
Evaluates
bid-ask spreads
, volume depth, and open interest for trade execution quality.Risk Checks3/8 checks passed
Tradeable Spread
≤5.0%Spread 24.3% — wide
Adequate OI
≥10,000OI 90,431 — deep
Active Volume
≥500Volume 1,077/day — adequate
Reasonable Cost
≤$0.50$1.21 to cross — expensive
Strike Coverage
≥5 strikes0 liquid strikes — limited options
Sector Relative≤40%
Sector spread percentile 84% — much wider than sector
Order Book Depth
≥100 contractsDepth 1,204.8 contracts (bid:541.9 ask:662.9) — deep
Execution Quality
<1.0%Avg slippage 6.21% — poor
Timing
Is now a good time?
7.8
RiskyFavorable
Considers earnings proximity,
time decay
, and event calendar for optimal entry timing.Risk Checks7/9 checks passed
Term Structure Clarity
|slope| ≥5%Slope -4.9% — flat/unclear
IV Percentile Clarity
<30 or >70IV percentile 72% — seller opportunity
Event Detection
≥10pts kinkIV kink -8.3pts — no clear event
Theta/Vega Clarity
<0.5 or >2.0θ/ν ratio 595.03 — favors income trades
Expiration Distribution
≥3 expirations3 liquid expirations — flexible
Event Risk
≥60% (safe)safe window: No earnings detected
Spread Momentum
<1.2 ratioSpread ratio 1.00x — stable
Flow Momentum
≥25% strength + ≥50% consistencyFlow -42% @ 71% consistency — STRONG directional (bearish)
Smart Money Timing
≥40 composite scoreScore 67 (ITM 20% + inst 37%) — HIGH institutional
Directional Strategy Fit
Option Buyers
Long Calls5.0
bullishIV fair, mixed flow
Long Puts5.0
bearishIV fair, mixed flow
Premium Sellers
Cash-Secured Put5.2
bullishIV fair, mixed flow
Covered Call5.1
bearishIV fair, mixed flow
For educational purposes only. Not investment advice.