Mixed signals. Conditions favor premium sellers.
Is IV priced right?
Measures whether options are cheap, fair, or rich relative to historical and peer
IV Rank 64.7% — elevated vs history
IV/HV 1.95x — IV premium over HV
Sector percentile 76% — above sector median
Front/Back 0.92x — contango
Put/Call IV 1.16x — elevated
ATM IV 52.8% — normal range
Effective IV 104.8% (ATM 52.8% + spread 26.0% + bias) — expensive
Total drag 34.77% (spread 25.99% + slippage 8.78%) — high friction
Vega efficiency 4.04 (vega 10.498 / spread 25.99%) — spread drag
Bullish or bearish?
Analyzes
Conviction-weighted: -26% (bearish) — Raw: -29%
|OI skew| 28.2% — call-heavy
Vol skew +50.3%, OI skew +28.2% — aligned
0-DTE 58%, far-OTM 15%, avg DTE 30
OI change +0.0% (5d) — stable
ITM: +28%, ATM: -10%, OTM: -34% — bullish (ITM/ATM divergent)
Sector P/C percentile 19% — very bullish vs sector
Unusual activity?
Detects volume surges,
Volume 0.6x avg — normal
Vol/OI 3.9% — normal turnover
Top 3 strikes = 50% — dispersed
1 day(s) elevated — may be one-day event
OI change +10.8% (5d) — building
Sector activity percentile 57% — neutral vs sector
Large trade volume 17% — mixed
Aggressive execution 26% — patient
Conviction -26 (bearish) — mixed
Can I trade efficiently?
Evaluates
Spread 26.0% — wide
OI 54,561 — deep
Volume 2,102/day — adequate
$1.30 to cross — expensive
0 liquid strikes — limited options
Sector spread percentile 80% — wider than sector
Depth 181.6 contracts (bid:104.8 ask:76.8) — adequate
Avg slippage 8.78% — poor
Is now a good time?
Considers earnings proximity,
Slope -7.9% — contango
IV percentile 65% — neutral
IV kink -0.7pts — no clear event
θ/ν ratio 56.41 — favors income trades
5 liquid expirations — flexible
safe window: No earnings detected
Spread ratio 1.00x — stable
Flow -26% @ 63% consistency — moderate (bearish)
Score 47 (ITM 20% + inst 17%) — moderate institutional
For educational purposes only. Not investment advice.