EXPEExpedia Group, Inc. Common Stock
EXPE Options Overview
IV is elevated with bearish flow and unusual activity. Conditions favor premium sellers.
REWARDS
RISK ANALYSIS
EXPE Gamma Walls
Value
Is IV priced right?
Measures whether options are cheap, fair, or rich relative to historical and peer
IV Rank 84.9% — elevated vs history
IV/HV 0.97x — IV ≤ HV
Sector percentile 92% — above sector median
Front/Back 0.95x — contango
Put/Call IV 1.16x — elevated
ATM IV 47.5% — normal range
Effective IV 67.2% (ATM 47.5% + spread 9.9% + bias) — fair
Total drag 14.86% (spread 9.86% + slippage 5.00%) — high friction
Vega efficiency 31.26 (vega 30.819 / spread 9.86%) — efficient
Sentiment
Bullish or bearish?
Analyzes
Conviction-weighted: +54% (strong bullish) — Raw: +42%
|OI skew| 14.5% — balanced
Vol skew -70.5%, OI skew -14.5% — aligned
0-DTE 16%, far-OTM 15%, avg DTE 30
OI change +0.0% (5d) — stable
ITM: +33%, ATM: +55%, OTM: +42% — strong bullish (ITM/ATM aligned)
Sector P/C percentile 96% — very bearish vs sector
Activity
Unusual activity?
Detects volume surges,
Volume 2.4x avg — hot
Vol/OI 10.7% — normal turnover
1 day(s) elevated — may be one-day event
OI change +2.0% (5d) — building
Sector activity percentile 80% — very active vs sector
Large trade volume 52% — heavy institutional
Aggressive execution 32% — patient
Conviction +54 (bullish) — strong conviction
Liquidity
Can I trade efficiently?
Evaluates
Spread 9.9% — wide
OI 71,177 — deep
Volume 7,583/day — active
$0.49 to cross — cheap
0 liquid strikes — limited options
Sector spread percentile 92% — much wider than sector
Depth 40.5 contracts (bid:13.1 ask:27.4) — thin
Avg slippage 5.00% — poor
Timing
Is now a good time?
Considers earnings proximity,
Slope -4.7% — flat/unclear
IV percentile 85% — seller opportunity
IV kink -1.5pts — no clear event
θ/ν ratio 114.27 — favors income trades
5 liquid expirations — flexible
caution advised: FOMC in 5d; CPI in 0d (HIGH)
Spread ratio 1.00x — stable
Flow +54% @ 77% consistency — STRONG directional (bullish)
Score 82 (ITM 20% + inst 52%) — HIGH institutional
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.