Options/FDX

FDXFedEx Corporation

Options Analysis Report•AIR COURIER SERVICES

Market Cap $78.4B|NYSE

● 2026-08-28$331.41

NEUTRAL

Analysis: 2026-08-27 EOD data

1Y +43.3%YTD +13.1%7D +1.9%

Options Vol

2,828

30D

Implied Move

±6.9%

IV Rank

16%

FDX Options Overview

Mixed signals. No clear edge detected.

REWARDS

RISK ANALYSIS

Snowflake Analysis

Balanced conditions with no clear edge

Learn

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FDX Gamma Walls

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FDX Hedge Radar

Neutral

Full Hedge Radar

Neither score is at an extreme today. Neither axis is a forecast — this is where FDX sits on protection cost vs. fragility today.

Protection is priced in the cheap band (2.19) — near-dated vol is priced 23% below far-dated, and downside puts carry 0.9 IV points more than at-the-money, measured against this name's own rolling 20-trading-day realized moves (484 overlapping windows). Fragility reads neutral (4.81): it is trading 1% above its hedge wall on a wall graded MEDIUM for reliability, and its realized-vol regime is stable.

Protection cost

2.19/ 10cheap

Basis: cross_sectional

Fragility

4.81/ 10neutral

Basis: per_ticker

Value

Is IV priced right?

8.0

ExpensiveCheap

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

levels.

Risk Checks7/9 checks passed

IV Rank

≤35%

IV Rank 32.3% — cheap vs history

IV/HV Ratio

<1.05x

IV/HV 1.20x — IV premium over HV

Sector Relative≤50%

Sector percentile 40% — below sector median

Term Structure

<1.1x

Front/Back 0.77x — contango

Skew Normal

<1.25x

Put/Call IV 1.16x — elevated

Absolute IV

<80%

ATM IV 27.2% — normal range

Spread-Adjusted Value

<80%

Effective IV 58.4% (ATM 27.2% + spread 15.6% + bias) — good value

Execution Efficiency

<3.0%

Total drag 30.30% (spread 15.62% + slippage 14.68%) — high friction

Vega Efficiency

≥5.0

Vega efficiency 22.58 (vega 35.276 / spread 15.62%) — efficient

Sentiment

Bullish or bearish?

3.8

BearishBullish

Analyzes

put/call ratios

open interest skew

, and flow direction to determine market bias.

Risk ChecksBearish - Moderate signal (Conviction: -18%, Raw: -3%)

Flow Direction

|net sentiment| ≥25%

Conviction-weighted: -18% (bearish) — Raw: -3%

OI Skew Magnitude

≥15%

|OI skew| 33.1% — call-heavy

Volume-OI Alignment

Same sign, |vol skew| ≥10%

Vol skew -25.1%, OI skew +33.1% — divergent (opposite)

Conviction Quality

≥2/3 conditions

0-DTE 19%, far-OTM 15%, avg DTE 30

OI Momentum

|change| ≥3%

OI change +0.0% (5d) — stable

Smart Money Flow

|weighted flow| ≥20%

ITM: -33%, ATM: -29%, OTM: +10% — strong bearish (ITM/ATM aligned)

Sector Relative≤40% or ≥60%

Sector P/C percentile 74% — very bearish vs sector

Activity

Unusual activity?

3.0

QuietActive

Detects volume surges,

block trades

, and unusual options activity that may signal moves.

Risk Checks1/8 checks passed

Volume Surge

≥1.5x

Volume 0.6x avg — normal

Turnover Rate

≥15%

Vol/OI 4.8% — normal turnover

Multi-Day Persistence

≥2 days

1 day(s) elevated — may be one-day event

OI Build

≥5%

OI change -6.0% (5d) — unwinding

Sector Relative≥60%

Sector activity percentile 69% — active vs sector

Trade Quality

≥30%

Large trade volume 0% — mostly retail

Execution Urgency

≥60%

Aggressive execution 14% — patient

Flow Conviction

≥30

Conviction -18 (bearish) — mixed

Liquidity

Can I trade efficiently?

3.4

IlliquidLiquid

Evaluates

bid-ask spreads

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

Risk Checks2/8 checks passed

Tradeable Spread

≤5.0%

Spread 15.6% — wide

Adequate OI

≥10,000

OI 58,837 — deep

Active Volume

≥500

Volume 2,828/day — adequate

Reasonable Cost

≤$0.50

$0.78 to cross — expensive

Strike Coverage

≥5 strikes

0 liquid strikes — limited options

Sector Relative≤40%

Sector spread percentile 44% — neutral vs sector

Order Book Depth

≥100 contracts

Depth 70.1 contracts (bid:24.2 ask:45.9) — thin

Execution Quality

<1.0%

Avg slippage 14.68% — poor

Timing

Is now a good time?

7.0

RiskyFavorable

Considers earnings proximity,

time decay

, and event calendar for optimal entry timing.

Risk Checks5/9 checks passed

Term Structure Clarity

|slope| ≥5%

Slope -22.8% — contango

IV Percentile Clarity

<30 or >70

IV percentile 32% — neutral

Event Detection

≥10pts kink

IV kink -2.6pts — no clear event

Theta/Vega Clarity

<0.5 or >2.0

θ/ν ratio 212.00 — favors income trades

Expiration Distribution

≥3 expirations

4 liquid expirations — flexible

Event Risk

≥60% (safe)

safe window: Earnings in 20d (low risk)

Spread Momentum

<1.2 ratio

Spread ratio 1.00x — stable

Flow Momentum

≥25% strength + ≥50% consistency

Flow -18% @ 59% consistency — unclear

Smart Money Timing

≥40 composite score

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

Directional Strategy Fit

Option Buyers

Long Calls5.7

bullishIV cheap, bearish flow

Long Puts6.5

bearishIV cheap, bearish flow

Premium Sellers

Cash-Secured Put3.7

bullishIV too cheap, bearish flow

Covered Call4.5

bearishIV too cheap, bearish flow

For educational purposes only. Not investment advice.