FOURShift4 Payments, Inc.
FOUR Options Overview
IV is elevated with bearish flow and unusual activity. No clear edge detected.
REWARDS
RISK ANALYSIS
FOUR Gamma Walls
Value
Is IV priced right?
Measures whether options are cheap, fair, or rich relative to historical and peer
IV Rank 83.0% — elevated vs history
IV/HV 0.90x — IV ≤ HV
Sector percentile 61% — above sector median
Front/Back 1.00x — flat
Put/Call IV 1.16x — elevated
ATM IV 63.4% — normal range
Effective IV 100.4% (ATM 63.4% + spread 18.5% + bias) — expensive
Total drag 25.98% (spread 18.51% + slippage 7.47%) — high friction
Vega efficiency 5.28 (vega 9.773 / spread 18.51%) — acceptable
Sentiment
Bullish or bearish?
Analyzes
Conviction-weighted: +67% (strong bullish) — Raw: +66%
|OI skew| 33.9% — call-heavy
Vol skew -77.1%, OI skew +33.9% — divergent (opposite)
0-DTE 0%, far-OTM 15%, avg DTE 30
OI change +0.0% (5d) — stable
ITM: -42%, ATM: +97%, OTM: +77% — bullish (ITM/ATM divergent)
Sector P/C percentile 99% — very bearish vs sector
Activity
Unusual activity?
Detects volume surges,
Volume 2.8x avg — hot
Vol/OI 6.9% — normal turnover
2 day(s) elevated — sustained
OI change +4.5% (5d) — building
Sector activity percentile 82% — very active vs sector
Large trade volume 69% — heavy institutional
Aggressive execution 30% — patient
Conviction +67 (bullish) — strong conviction
Liquidity
Can I trade efficiently?
Evaluates
Spread 18.5% — wide
OI 93,793 — deep
Volume 6,502/day — active
$0.93 to cross — expensive
0 liquid strikes — limited options
Sector spread percentile 77% — wider than sector
Depth 146.1 contracts (bid:90.2 ask:55.9) — adequate
Avg slippage 7.47% — poor
Timing
Is now a good time?
Considers earnings proximity,
Slope +0.0% — flat/unclear
IV percentile 83% — seller opportunity
IV kink 15.1pts — event priced
θ/ν ratio 405.53 — favors income trades
1 liquid expirations — limited
caution advised: FOMC in 5d; CPI in 0d (HIGH)
Spread ratio 1.00x — stable
Flow +67% @ 84% consistency — STRONG directional (bullish)
Score 99 (ITM 20% + inst 69%) — 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.