AInvestOption Pilot Program
Options/FCLD
F

FCLDFidelity Cloud Computing ETF

Options Analysis Report
AUM $115M|BATS
● 2026-08-31$45.11
VERY BULLISH
Analysis: 2026-08-28 EOD data
1Y +60.2%YTD +53.3%7D +5.4%
54
30D
±9.1%
4%

FCLD Options Overview

bullish flow with unusual activity. No clear edge detected.

REWARDS

RISK ANALYSIS

5.5VALUESENTIMENTACTIVITYLIQUIDITYTIMING

Snowflake Analysis

Favorable conditions for option buyers

Learn
Loading score history...

FCLD Gamma Walls

Loading gamma walls...

Value

Is IV priced right?

5.8
ExpensiveCheap

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

levels.

Risk Checks4/9 checks passed
≤35%

IV Rank 47.8% — elevated vs history

<1.05x

IV/HV 0.92x — IV ≤ HV

Sector Relative≤50%

Sector percentile 68% — above sector median

<1.1x

Front/Back 0.69x — contango

<1.25x

Put/Call IV 1.16x — elevated

<80%

ATM IV 31.1% — normal range

<80%

Effective IV 173.0% (ATM 31.1% + spread 71.0% + bias) — expensive

<3.0%

Total drag 89.73% (spread 70.97% + slippage 18.76%) — high friction

≥5.0

Vega efficiency 0.61 (vega 4.294 / spread 70.97%) — spread drag

Sentiment

Bullish or bearish?

6.4
BearishBullish

Analyzes

,
, and flow direction to determine market bias.

Risk ChecksNeutral - Moderate signal (Conviction: -4%, Raw: +0%)
|net sentiment| ≥25%

Conviction-weighted: -4% (neutral) — Raw: +0%

≥15%

|OI skew| 98.9% — call-heavy

Same sign, |vol skew| ≥10%

Vol skew +100.0%, OI skew +98.9% — 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: +100%, OTM: -100% — strong bullish (ITM/ATM divergent)

Sector Relative≤40% or ≥60%

Sector P/C percentile 50% — neutral vs sector

Activity

Unusual activity?

6.8
QuietActive

Detects volume surges,

, and unusual options activity that may signal moves.

Risk Checks5/8 checks passed
≥1.5x

Volume 3.8x avg — hot

≥15%

Vol/OI 30.5% — high turnover

≥2 days

2 day(s) elevated — sustained

≥5%

OI change +37.2% (5d) — building

Sector Relative≥60%

Sector activity percentile 95% — very active vs sector

≥30%

Large trade volume 0% — mostly retail

≥60%

Aggressive execution 0% — patient

≥30

Conviction -4 (bearish) — mixed

Liquidity

Can I trade efficiently?

2.2
IlliquidLiquid

Evaluates

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

Risk Checks0/8 checks passed
≤5.0%

Spread 71.0% — wide

≥10,000

OI 177 — thin

≥500

Volume 54/day — thin

≤$0.50

$3.55 to cross — expensive

≥5 strikes

0 liquid strikes — limited options

Sector Relative≤40%

Sector spread percentile 76% — wider than sector

≥100 contracts

Depth 97.3 contracts (bid:7.3 ask:90.0) — thin

<1.0%

Avg slippage 18.76% — poor

Timing

Is now a good time?

6.6
RiskyFavorable

Considers earnings proximity,

, and event calendar for optimal entry timing.

Risk Checks5/9 checks passed
|slope| ≥5%

Slope -31.5% — contango

<30 or >70

IV percentile 48% — neutral

≥10pts kink

IV kink -4.5pts — no clear event

<0.5 or >2.0

θ/ν ratio 142.67 — 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 -4% @ 53% consistency — unclear

≥40 composite score

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

Directional Strategy Fit

Option Buyers
Long Calls6.6
bullishIV fair, bullish flow
Long Puts4.6
bearishIV fair, bullish flow
Premium Sellers
Cash-Secured Put4.9
bullishIV fair, bullish flow
Covered Call4.0
bearishIV fair, bullish 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 FCLD

FCLD gamma wallsFCLD max painFCLD IV rankFCLD options flow