ETSYEtsy, Inc.
Options Analysis Report•SERVICES-BUSINESS SERVICES, NEC
Market Cap $5.5B|NYSE
● 2026-05-15$58.41
NEUTRAL
Analysis: 2026-05-14 EOD data
1Y +24.3%YTD +2.0%7D -9.3%
Options Vol
2,237
30D
Implied Move
±13.8%
IV Rank
16%
ETSY Options Overview
Mixed signals. Conditions favor premium sellers.
REWARDS
RISK ANALYSIS
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Value
Is IV priced right?
6.5
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 64.0% — elevated vs history
IV/HV Ratio
<1.05xIV/HV 0.80x — IV ≤ HV
Sector Relative≤50%
Sector percentile 58% — above sector median
Term Structure
<1.1xFront/Back 0.93x — contango
Skew Normal
<1.25xPut/Call IV 1.16x — elevated
Absolute IV
<80%ATM IV 52.1% — normal range
Spread-Adjusted Value
<80%Effective IV 82.8% (ATM 52.1% + spread 15.3% + bias) — expensive
Execution Efficiency
<3.0%Total drag 26.20% (spread 15.34% + slippage 10.86%) — high friction
Vega Efficiency
≥5.0Vega efficiency 0.75 (vega 1.150 / spread 15.34%) — spread drag
Sentiment
Bullish or bearish?
6.0
BearishBullish
Analyzes
put/call ratios
, open interest skew
, and flow direction to determine market bias.Risk ChecksBearish - Strong signal (Conviction: -15%, Raw: -7%)
Flow Direction
|net sentiment| ≥25%Conviction-weighted: -15% (bearish) — Raw: -7%
OI Skew Magnitude
≥15%|OI skew| 14.9% — balanced
Volume-OI Alignment
Same sign, |vol skew| ≥10%Vol skew +32.9%, OI skew +14.9% — aligned
Conviction Quality
≥2/3 conditions0-DTE 35%, far-OTM 15%, avg DTE 30
OI Momentum
|change| ≥3%OI change +0.0% (5d) — stable
Smart Money Flow
|weighted flow| ≥20%ITM: -40%, ATM: -2%, OTM: +8% — bearish (ITM/ATM aligned)
Sector Relative≤40% or ≥60%
Sector P/C percentile 45% — neutral vs sector
Activity
Unusual activity?
2.5
QuietActive
Detects volume surges,
block trades
, and unusual options activity that may signal moves.Risk Checks1/9 checks passed
Volume Surge
≥1.5xVolume 0.2x avg — normal
Turnover Rate
≥15%Vol/OI 1.3% — 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 +6.2% (5d) — building
Sector Relative≥60%
Sector activity percentile 33% — below sector avg
Trade Quality
≥30%Large trade volume 0% — mostly retail
Execution Urgency
≥60%Aggressive execution 36% — patient
Flow Conviction
≥30Conviction -15 (bearish) — mixed
Liquidity
Can I trade efficiently?
3.1
IlliquidLiquid
Evaluates
bid-ask spreads
, volume depth, and open interest for trade execution quality.Risk Checks3/8 checks passed
Tradeable Spread
≤5.0%Spread 15.3% — wide
Adequate OI
≥10,000OI 175,460 — deep
Active Volume
≥500Volume 2,237/day — adequate
Reasonable Cost
≤$0.50$0.77 to cross — expensive
Strike Coverage
≥5 strikes0 liquid strikes — limited options
Sector Relative≤40%
Sector spread percentile 77% — wider than sector
Order Book Depth
≥100 contractsDepth 292.9 contracts (bid:157.6 ask:135.3) — adequate
Execution Quality
<1.0%Avg slippage 10.86% — poor
Timing
Is now a good time?
6.7
RiskyFavorable
Considers earnings proximity,
time decay
, and event calendar for optimal entry timing.Risk Checks5/9 checks passed
Term Structure Clarity
|slope| ≥5%Slope -7.5% — contango
IV Percentile Clarity
<30 or >70IV percentile 64% — neutral
Event Detection
≥10pts kinkIV kink 0.9pts — no clear event
Theta/Vega Clarity
<0.5 or >2.0θ/ν ratio 3.74 — favors income trades
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 -15% @ 57% consistency — unclear
Smart Money Timing
≥40 composite scoreScore 30 (ITM 20% + inst 0%) — retail dominated
Directional Strategy Fit
Option Buyers
Long Calls5.8
bullishIV cheap, mixed flow
Long Puts5.1
bearishIV cheap, mixed flow
Premium Sellers
Cash-Secured Put4.8
bullishIV too cheap, mixed flow
Covered Call4.1
bearishIV too cheap, mixed flow
For educational purposes only. Not investment advice.