AInvestOption Pilot Program
Options/EWQ
E

EWQiShares MSCI France ETF

Options Analysis Report
AUM $340M|ARCX
● 2026-08-31$46.20
BEARISH
Analysis: 2026-08-28 EOD data
1Y +9.2%YTD +2.0%7D -1.6%
162
30D
±5.7%
2%

EWQ Options Overview

IV is low. Conditions favor option buyers.

REWARDS

RISK ANALYSIS

5.0VALUESENTIMENTACTIVITYLIQUIDITYTIMING

Snowflake Analysis

Favorable conditions for option buyers

Learn
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EWQ Gamma Walls

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Value

Is IV priced right?

6.6
ExpensiveCheap

Measures whether options are cheap, fair, or rich relative to historical and peer

levels.

Risk Checks5/9 checks passed
≤35%

IV Rank 19.1% — cheap vs history

<1.05x

IV/HV 1.86x — IV premium over HV

Sector Relative≤50%

Sector percentile 34% — below sector median

<1.1x

Front/Back 1.07x — backwardation

<1.25x

Put/Call IV 1.16x — elevated

<80%

ATM IV 18.8% — normal range

<80%

Effective IV 115.2% (ATM 18.8% + spread 48.2% + bias) — expensive

<3.0%

Total drag 69.74% (spread 48.19% + slippage 21.55%) — high friction

≥5.0

Vega efficiency 2.08 (vega 10.010 / spread 48.19%) — spread drag

Sentiment

Bullish or bearish?

3.7
BearishBullish

Analyzes

,
, and flow direction to determine market bias.

Risk ChecksNeutral - Moderate signal (Conviction: +7%, Raw: +0%)
|net sentiment| ≥25%

Conviction-weighted: +7% (neutral) — Raw: +0%

≥15%

|OI skew| 19.2% — put-heavy

Same sign, |vol skew| ≥10%

Vol skew -50.6%, OI skew -19.2% — aligned

≥2/3 conditions

0-DTE 0%, far-OTM 15%, avg DTE 30

|change| ≥3%

OI change +0.0% (5d) — stable

|weighted flow| ≥20%

ITM: +0%, ATM: +0%, OTM: +0% — neutral (ITM/ATM divergent)

Sector Relative≤40% or ≥60%

Sector P/C percentile 96% — very bearish vs sector

Activity

Unusual activity?

5.5
QuietActive

Detects volume surges,

, and unusual options activity that may signal moves.

Risk Checks3/8 checks passed
≥1.5x

Volume 2.3x avg — hot

≥15%

Vol/OI 3.3% — normal turnover

≥2 days

5 day(s) elevated — sustained

≥5%

OI change +9.2% (5d) — building

Sector Relative≥60%

Sector activity percentile 60% — neutral vs sector

≥30%

Large trade volume 0% — mostly retail

≥60%

Aggressive execution 47% — patient

≥30

Conviction +7 (bullish) — mixed

Liquidity

Can I trade efficiently?

2.8
IlliquidLiquid

Evaluates

, volume depth, and open interest for trade execution quality.

Risk Checks0/8 checks passed
≤5.0%

Spread 48.2% — wide

≥10,000

OI 4,888 — thin

≥500

Volume 162/day — thin

≤$0.50

$2.41 to cross — expensive

≥5 strikes

0 liquid strikes — limited options

Sector Relative≤40%

Sector spread percentile 50% — neutral vs sector

≥100 contracts

Depth 69.0 contracts (bid:46.1 ask:22.9) — thin

<1.0%

Avg slippage 21.55% — poor

Timing

Is now a good time?

6.6
RiskyFavorable

Considers earnings proximity,

, and event calendar for optimal entry timing.

Risk Checks6/9 checks passed
|slope| ≥5%

Slope +7.0% — backwardation

<30 or >70

IV percentile 19% — buyer opportunity

≥10pts kink

IV kink 1.1pts — no clear event

<0.5 or >2.0

θ/ν ratio 918.37 — favors income trades

≥3 expirations

3 liquid expirations — flexible

≥60% (safe)

safe window: No earnings detected

<1.2 ratio

Spread ratio 1.00x — stable

≥25% strength + ≥50% consistency

Flow +7% @ 53% consistency — unclear

≥40 composite score

Score 30 (ITM 20% + inst 0%) — retail dominated

Directional Strategy Fit

Option Buyers
Long Calls5.0
bullishIV cheap, bearish flow
Long Puts6.8
bearishIV cheap, bearish flow
Premium Sellers
Cash-Secured Put3.9
bullishIV too cheap, bearish flow
Covered Call4.8
bearishIV too cheap, bearish flow

For educational purposes only. Not investment advice.

The Options Desk tracks the move options price into every US earnings report the week of Aug 31, 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.

More on EWQ

EWQ gamma wallsEWQ max painEWQ IV rankEWQ options flow