IV is low. Conditions favor option buyers.
Is IV priced right?
Measures whether options are cheap, fair, or rich relative to historical and peer
IV Rank 16.7% — cheap vs history
IV/HV 0.84x — IV ≤ HV
Sector percentile 25% — below sector median
Front/Back 1.01x — flat
Put/Call IV 1.16x — elevated
ATM IV 26.3% — normal range
Effective IV 53.9% (ATM 26.3% + spread 13.8% + bias) — good value
Total drag 18.33% (spread 13.78% + slippage 4.55%) — high friction
Vega efficiency 16.50 (vega 22.738 / spread 13.78%) — efficient
Bullish or bearish?
Analyzes
Conviction-weighted: -5% (neutral) — Raw: -10%
|OI skew| 12.8% — balanced
Vol skew -32.2%, OI skew -12.8% — aligned
0-DTE 62%, far-OTM 15%, avg DTE 30
OI change +0.0% (5d) — stable
ITM: +14%, ATM: -25%, OTM: -2% — neutral (ITM/ATM divergent)
Sector P/C percentile 91% — very bearish vs sector
Unusual activity?
Detects volume surges,
Volume 0.3x avg — normal
Vol/OI 1.9% — normal turnover
Top 3 strikes = 50% — dispersed
1 day(s) elevated — may be one-day event
OI change +6.9% (5d) — building
Sector activity percentile 37% — below sector avg
Large trade volume 0% — mostly retail
Aggressive execution 10% — patient
Conviction -5 (bearish) — mixed
Can I trade efficiently?
Evaluates
Spread 13.8% — wide
OI 147,145 — deep
Volume 2,823/day — adequate
$0.69 to cross — expensive
0 liquid strikes — limited options
Sector spread percentile 38% — tighter than sector
Depth 422.79999999999995 contracts (bid:199.7 ask:223.1) — adequate
Avg slippage 4.55% — poor
Is now a good time?
Considers earnings proximity,
Slope +0.8% — flat/unclear
IV percentile 17% — buyer opportunity
IV kink -0.8pts — no clear event
θ/ν ratio 1043.05 — favors income trades
5 liquid expirations — flexible
safe window: No earnings detected
Spread ratio 1.00x — stable
Flow -5% @ 52% consistency — unclear
Score 30 (ITM 20% + inst 0%) — retail dominated
For educational purposes only. Not investment advice.