IV is low with bearish flow. No clear edge detected.
Is IV priced right?
Measures whether options are cheap, fair, or rich relative to historical and peer
IV Rank 28.2% — cheap vs history
IV/HV 1.50x — IV premium over HV
Sector percentile 39% — below sector median
Front/Back 1.02x — flat
Put/Call IV 1.16x — elevated
ATM IV 31.5% — normal range
Effective IV 125.6% (ATM 31.5% + spread 47.0% + bias) — expensive
Total drag 58.44% (spread 47.03% + slippage 11.41%) — high friction
Vega efficiency 0.27 (vega 1.263 / spread 47.03%) — spread drag
Bullish or bearish?
Analyzes
Conviction-weighted: -14% (bearish) — Raw: -28%
|OI skew| 17.9% — put-heavy
Vol skew -71.5%, OI skew -17.9% — aligned
0-DTE 79%, far-OTM 15%, avg DTE 30
OI change +0.0% (5d) — stable
ITM: +0%, ATM: -44%, OTM: +20% — bearish (ITM/ATM divergent)
Sector P/C percentile 97% — very bearish vs sector
Unusual activity?
Detects volume surges,
Volume 0.6x avg — normal
Vol/OI 4.2% — normal turnover
Top 3 strikes = 50% — dispersed
1 day(s) elevated — may be one-day event
OI change +2.6% (5d) — building
Sector activity percentile 60% — active vs sector
Large trade volume 0% — mostly retail
Aggressive execution 17% — patient
Conviction -14 (bearish) — mixed
Can I trade efficiently?
Evaluates
Spread 47.0% — wide
OI 16,821 — adequate
Volume 709/day — adequate
$2.35 to cross — expensive
0 liquid strikes — limited options
Sector spread percentile 49% — neutral vs sector
Depth 117.8 contracts (bid:53.9 ask:63.9) — adequate
Avg slippage 11.41% — poor
Is now a good time?
Considers earnings proximity,
Slope +1.7% — flat/unclear
IV percentile 28% — buyer opportunity
IV kink 0.6pts — no clear event
θ/ν ratio 5.73 — favors income trades
3 liquid expirations — flexible
safe window: No earnings detected
Spread ratio 1.00x — stable
Flow -14% @ 57% consistency — unclear
Score 30 (ITM 20% + inst 0%) — retail dominated
For educational purposes only. Not investment advice.