DVYiShares Select Dividend ETF
DVY Options Overview
IV is low. Conditions favor option buyers.
REWARDS
RISK ANALYSIS
DVY Gamma Walls
Value
Is IV priced right?
Measures whether options are cheap, fair, or rich relative to historical and peer
IV Rank 4.7% — cheap vs history
IV/HV 1.54x — IV premium over HV
Sector percentile 8% — below sector median
Front/Back 1.30x — backwardation
Put/Call IV 1.16x — elevated
ATM IV 14.1% — normal range
Effective IV 35.1% (ATM 14.1% + spread 10.5% + bias) — excellent value
Total drag 16.08% (spread 10.49% + slippage 5.59%) — high friction
Vega efficiency 42.38 (vega 44.455 / spread 10.49%) — efficient
Sentiment
Bullish or bearish?
Analyzes
Conviction-weighted: -41% (strong bearish) — Raw: -38%
|OI skew| 51.3% — call-heavy
Vol skew +51.4%, OI skew +51.3% — aligned
0-DTE 0%, far-OTM 15%, avg DTE 30
OI change +0.0% (5d) — stable
ITM: -100%, ATM: -37%, OTM: +0% — strong bearish (ITM/ATM aligned)
Sector P/C percentile 14% — very bullish vs sector
Activity
Unusual activity?
Detects volume surges,
Volume 0.3x avg — normal
Vol/OI 0.4% — normal turnover
1 day(s) elevated — may be one-day event
OI change +1.3% (5d) — stable
Sector activity percentile 13% — quiet vs sector
Large trade volume 0% — mostly retail
Aggressive execution 15% — patient
Conviction -41 (bearish) — moderate
Liquidity
Can I trade efficiently?
Evaluates
Spread 10.5% — wide
OI 17,426 — adequate
Volume 74/day — thin
$0.52 to cross — expensive
0 liquid strikes — limited options
Sector spread percentile 31% — tighter than sector
Depth 45.6 contracts (bid:30.3 ask:15.3) — thin
Avg slippage 5.59% — poor
Timing
Is now a good time?
Considers earnings proximity,
Slope +30.3% — backwardation
IV percentile 5% — buyer opportunity
IV kink 5.2pts — no clear event
θ/ν ratio 2315.37 — favors income trades
3 liquid expirations — flexible
caution advised: No earnings detected; FOMC in 5d; CPI in 0d (HIGH)
Spread ratio 1.00x — stable
Flow -41% @ 71% consistency — STRONG directional (bearish)
Score 30 (ITM 20% + inst 0%) — retail dominated
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.