DOCNDigitalOcean Holdings, Inc.
Options Analysis Report•SERVICES-COMPUTER PROGRAMMING, DATA PROCESSING, ETC.
Market Cap $16.5B|NYSE
● 2026-05-15$158.40
NEUTRAL
Analysis: 2026-05-14 EOD data
1Y +416.3%YTD +223.5%7D -3.4%
Options Vol
6,762
30D
Implied Move
±25.9%
IV Rank
61%
DOCN Options Overview
IV is elevated with unusual activity. Conditions favor premium sellers.
REWARDS
RISK ANALYSIS
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Value
Is IV priced right?
3.9
ExpensiveCheap
Measures whether options are cheap, fair, or rich relative to historical and peer
IV
levels.Risk Checks3/9 checks passed
IV Rank
≤35%IV Rank 89.2% — elevated vs history
IV/HV Ratio
<1.05xIV/HV 0.69x — IV ≤ HV
Sector Relative≤50%
Sector percentile 81% — above sector median
Term Structure
<1.1xFront/Back 1.06x — backwardation
Skew Normal
<1.25xPut/Call IV 1.16x — elevated
Absolute IV
<80%ATM IV 91.4% — crisis-level IV
Spread-Adjusted Value
<80%Effective IV 106.8% (ATM 91.4% + spread 7.7% + bias) — expensive
Execution Efficiency
<3.0%Total drag 12.78% (spread 7.68% + slippage 5.10%) — high friction
Vega Efficiency
≥5.0Vega efficiency 4.26 (vega 3.273 / spread 7.68%) — spread drag
Sentiment
Bullish or bearish?
3.7
BearishBullish
Analyzes
put/call ratios
, open interest skew
, and flow direction to determine market bias.Risk ChecksBearish - Moderate signal (Conviction: -25%, Raw: -31%)
Flow Direction
|net sentiment| ≥25%Conviction-weighted: -25% (bearish) — Raw: -31%
OI Skew Magnitude
≥15%|OI skew| 26.3% — call-heavy
Volume-OI Alignment
Same sign, |vol skew| ≥10%Vol skew -18.1%, OI skew +26.3% — divergent (opposite)
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: -18%, ATM: +11%, OTM: -36% — neutral (ITM/ATM divergent)
Sector Relative≤40% or ≥60%
Sector P/C percentile 90% — very bearish vs sector
Activity
Unusual activity?
4.2
QuietActive
Detects volume surges,
block trades
, and unusual options activity that may signal moves.Risk Checks1/9 checks passed
Volume Surge
≥1.5xVolume 0.6x avg — normal
Turnover Rate
≥15%Vol/OI 5.0% — 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 +19.2% (5d) — building
Sector Relative≥60%
Sector activity percentile 55% — neutral vs sector
Trade Quality
≥30%Large trade volume 25% — mixed
Execution Urgency
≥60%Aggressive execution 38% — patient
Flow Conviction
≥30Conviction -25 (bearish) — mixed
Liquidity
Can I trade efficiently?
4.9
IlliquidLiquid
Evaluates
bid-ask spreads
, volume depth, and open interest for trade execution quality.Risk Checks4/8 checks passed
Tradeable Spread
≤5.0%Spread 7.7% — wide
Adequate OI
≥10,000OI 134,639 — deep
Active Volume
≥500Volume 6,762/day — active
Reasonable Cost
≤$0.50$0.38 to cross — cheap
Strike Coverage
≥5 strikes4 liquid strikes — limited options
Sector Relative≤40%
Sector spread percentile 90% — much wider than sector
Order Book Depth
≥100 contractsDepth 212.9 contracts (bid:109.4 ask:103.5) — adequate
Execution Quality
<1.0%Avg slippage 5.10% — poor
Timing
Is now a good time?
7.1
RiskyFavorable
Considers earnings proximity,
time decay
, and event calendar for optimal entry timing.Risk Checks6/9 checks passed
Term Structure Clarity
|slope| ≥5%Slope +5.5% — backwardation
IV Percentile Clarity
<30 or >70IV percentile 89% — seller opportunity
Event Detection
≥10pts kinkIV kink 5.9pts — no clear event
Theta/Vega Clarity
<0.5 or >2.0θ/ν ratio 1.81 — favors mixed
Expiration Distribution
≥3 expirations5 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 -25% @ 62% consistency — unclear
Smart Money Timing
≥40 composite scoreScore 55 (ITM 20% + inst 25%) — moderate institutional
Directional Strategy Fit
Option Buyers
Long Calls4.4
bullishIV expensive, bearish flow
Long Puts5.4
bearishIV expensive, bearish flow
Premium Sellers
Cash-Secured Put5.2
bullishIV rich premium, bearish flow
Covered Call6.1
bearishIV rich premium, bearish flow
For educational purposes only. Not investment advice.