Options/FFIV

FFIVF5, Inc. Common Stock

Options Analysis Report•COMPUTER COMMUNICATIONS EQUIPMENT

Market Cap $22.6B|NASDAQ

● 2026-09-11$398.48

NEUTRAL

Analysis: 2026-09-10 EOD data

1Y +19.1%YTD +55.3%7D +2.1%

Options Vol

250

30D

Implied Move

±8.6%

IV Rank

43%

FFIV Options Overview

IV is elevated. Conditions favor premium sellers.

REWARDS

RISK ANALYSIS

Snowflake Analysis

Favorable conditions for premium sellers

Learn

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FFIV Gamma Walls

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Value

Is IV priced right?

6.3

ExpensiveCheap

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

levels.

Risk Checks6/9 checks passed

IV Rank

≤35%

IV Rank 73.9% — elevated vs history

IV/HV Ratio

<1.05x

IV/HV 1.09x — IV premium over HV

Sector Relative≤50%

Sector percentile 32% — below sector median

Term Structure

<1.1x

Front/Back 0.89x — contango

Skew Normal

<1.25x

Put/Call IV 1.16x — elevated

Absolute IV

<80%

ATM IV 41.2% — normal range

Spread-Adjusted Value

<80%

Effective IV 52.9% (ATM 41.2% + spread 5.9% + bias) — good value

Execution Efficiency

<3.0%

Total drag 12.21% (spread 5.87% + slippage 6.34%) — high friction

Vega Efficiency

≥5.0

Vega efficiency 40.16 (vega 23.574 / spread 5.87%) — efficient

Sentiment

Bullish or bearish?

4.5

BearishBullish

Analyzes

put/call ratios

open interest skew

, and flow direction to determine market bias.

Risk ChecksNeutral - Weak signal (Conviction: +3%, Raw: +2%)

Flow Direction

|net sentiment| ≥25%

Conviction-weighted: +3% (neutral) — Raw: +2%

OI Skew Magnitude

≥15%

|OI skew| 14.1% — balanced

Volume-OI Alignment

Same sign, |vol skew| ≥10%

Vol skew -31.2%, OI skew +14.1% — divergent (opposite)

Conviction Quality

≥2/3 conditions

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

OI Momentum

|change| ≥3%

OI change +0.0% (5d) — stable

Smart Money Flow

|weighted flow| ≥20%

ITM: -20%, ATM: +7%, OTM: +0% — neutral (ITM/ATM divergent)

Sector Relative≤40% or ≥60%

Sector P/C percentile 88% — very bearish vs sector

Activity

Unusual activity?

1.9

QuietActive

Detects volume surges,

block trades

, and unusual options activity that may signal moves.

Risk Checks0/8 checks passed

Volume Surge

≥1.5x

Volume 0.3x avg — normal

Turnover Rate

≥15%

Vol/OI 2.3% — normal turnover

Multi-Day Persistence

≥2 days

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

OI Build

≥5%

OI change +2.1% (5d) — building

Sector Relative≥60%

Sector activity percentile 26% — below sector avg

Trade Quality

≥30%

Large trade volume 0% — mostly retail

Execution Urgency

≥60%

Aggressive execution 16% — patient

Flow Conviction

≥30

Conviction +3 (bullish) — mixed

Liquidity

Can I trade efficiently?

4.7

IlliquidLiquid

Evaluates

bid-ask spreads

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

Risk Checks3/8 checks passed

Tradeable Spread

≤5.0%

Spread 5.9% — wide

Adequate OI

≥10,000

OI 11,083 — adequate

Active Volume

≥500

Volume 250/day — thin

Reasonable Cost

≤$0.50

$0.29 to cross — cheap

Strike Coverage

≥5 strikes

0 liquid strikes — limited options

Sector Relative≤40%

Sector spread percentile 34% — tighter than sector

Order Book Depth

≥100 contracts

Depth 16.8 contracts (bid:8.4 ask:8.4) — thin

Execution Quality

<1.0%

Avg slippage 6.34% — poor

Timing

Is now a good time?

6.3

RiskyFavorable

Considers earnings proximity,

time decay

, and event calendar for optimal entry timing.

Risk Checks5/9 checks passed

Term Structure Clarity

|slope| ≥5%

Slope -11.5% — contango

IV Percentile Clarity

<30 or >70

IV percentile 74% — seller opportunity

Event Detection

≥10pts kink

IV kink -3.7pts — no clear event

Theta/Vega Clarity

<0.5 or >2.0

θ/ν ratio 36.86 — favors income trades

Expiration Distribution

≥3 expirations

4 liquid expirations — flexible

Event Risk

≥60% (safe)

caution advised: FOMC in 5d; CPI in 0d (HIGH)

Spread Momentum

<1.2 ratio

Spread ratio 1.00x — stable

Flow Momentum

≥25% strength + ≥50% consistency

Flow +3% @ 52% consistency — unclear

Smart Money Timing

≥40 composite score

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

Directional Strategy Fit

Option Buyers

Long Calls5.4

bullishIV cheap, mixed flow

Long Puts5.8

bearishIV cheap, mixed flow

Premium Sellers

Cash-Secured Put4.6

bullishIV too cheap, mixed flow

Covered Call4.9

bearishIV too cheap, mixed flow

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.

More on FFIV

FFIV gamma walls FFIV option chain FFIV max pain FFIV expected move FFIV IV rank FFIV put/call ratio FFIV options flow