DECKDeckers Outdoor Corp
DECK Options Overview
IV is elevated with unusual activity. Conditions favor premium sellers.
REWARDS
RISK ANALYSIS
DECK Gamma Walls
Value
Is IV priced right?
Measures whether options are cheap, fair, or rich relative to historical and peer
IV Rank 77.1% — elevated vs history
IV/HV 1.17x — IV premium over HV
Sector percentile 82% — above sector median
Front/Back 0.86x — contango
Put/Call IV 1.16x — elevated
ATM IV 42.3% — normal range
Effective IV 62.1% (ATM 42.3% + spread 9.9% + bias) — good value
Total drag 13.64% (spread 9.90% + slippage 3.74%) — high friction
Vega efficiency 7.78 (vega 7.703 / spread 9.90%) — efficient
Sentiment
Bullish or bearish?
Analyzes
Conviction-weighted: -47% (strong bearish) — Raw: -34%
|OI skew| 8.6% — balanced
Vol skew -24.5%, OI skew +8.6% — divergent (opposite)
0-DTE 6%, far-OTM 15%, avg DTE 30
OI change +0.0% (5d) — stable
ITM: -29%, ATM: -74%, OTM: +25% — strong bearish (ITM/ATM aligned)
Sector P/C percentile 64% — bearish vs sector
Activity
Unusual activity?
Detects volume surges,
Volume 1.5x avg — normal
Vol/OI 11.1% — normal turnover
1 day(s) elevated — may be one-day event
OI change +1.5% (5d) — stable
Sector activity percentile 82% — very active vs sector
Large trade volume 36% — institutional presence
Aggressive execution 32% — patient
Conviction -47 (bearish) — moderate
Liquidity
Can I trade efficiently?
Evaluates
Spread 9.9% — wide
OI 59,335 — deep
Volume 6,571/day — active
$0.49 to cross — cheap
0 liquid strikes — limited options
Sector spread percentile 82% — much wider than sector
Depth 123.1 contracts (bid:65.5 ask:57.6) — adequate
Avg slippage 3.74% — poor
Timing
Is now a good time?
Considers earnings proximity,
Slope -14.4% — contango
IV percentile 77% — seller opportunity
IV kink -7.1pts — no clear event
θ/ν ratio 94.05 — favors income trades
5 liquid expirations — flexible
caution advised: FOMC in 5d; CPI in 0d (HIGH)
Spread ratio 1.00x — stable
Flow -47% @ 74% consistency — STRONG directional (bearish)
Score 66 (ITM 20% + inst 36%) — HIGH 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.