FOURShift4 Payments, Inc.
Options Analysis Report•SERVICES-BUSINESS SERVICES, NEC
Market Cap $3.3B|NYSE
● 2026-05-15$42.02
NEUTRAL
Analysis: 2026-05-14 EOD data
1Y -52.8%YTD -33.0%7D -1.3%
Options Vol
16,754
30D
Implied Move
±8.6%
IV Rank
83%
FOUR Options Overview
IV is elevated with unusual activity. No clear edge detected.
REWARDS
RISK ANALYSIS
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Value
Is IV priced right?
4.8
ExpensiveCheap
Measures whether options are cheap, fair, or rich relative to historical and peer
IV
levels.Risk Checks5/9 checks passed
IV Rank
≤35%IV Rank 78.1% — elevated vs history
IV/HV Ratio
<1.05xIV/HV 0.91x — IV ≤ HV
Sector Relative≤50%
Sector percentile 51% — above sector median
Term Structure
<1.1xFront/Back 1.00x — flat
Skew Normal
<1.25xPut/Call IV 1.16x — elevated
Absolute IV
<80%ATM IV 67.8% — normal range
Spread-Adjusted Value
<80%Effective IV 92.0% (ATM 67.8% + spread 12.1% + bias) — expensive
Execution Efficiency
<3.0%Total drag 17.39% (spread 12.08% + slippage 5.31%) — high friction
Vega Efficiency
≥5.0Vega efficiency 10.97 (vega 13.255 / spread 12.08%) — efficient
Sentiment
Bullish or bearish?
5.6
BearishBullish
Analyzes
put/call ratios
, open interest skew
, and flow direction to determine market bias.Risk ChecksBearish - Strong signal (Conviction: -25%, Raw: -12%)
Flow Direction
|net sentiment| ≥25%Conviction-weighted: -25% (bearish) — Raw: -12%
OI Skew Magnitude
≥15%|OI skew| 30.3% — call-heavy
Volume-OI Alignment
Same sign, |vol skew| ≥10%Vol skew +34.0%, OI skew +30.3% — aligned
Conviction Quality
≥2/3 conditions0-DTE 34%, far-OTM 15%, avg DTE 30
OI Momentum
|change| ≥3%OI change +0.0% (5d) — stable
Smart Money Flow
|weighted flow| ≥20%ITM: +27%, ATM: -33%, OTM: -13% — neutral (ITM/ATM divergent)
Sector Relative≤40% or ≥60%
Sector P/C percentile 59% — bearish vs sector
Activity
Unusual activity?
6.8
QuietActive
Detects volume surges,
block trades
, and unusual options activity that may signal moves.Risk Checks3/9 checks passed
Volume Surge
≥1.5xVolume 4.5x avg — hot
Turnover Rate
≥15%Vol/OI 14.2% — normal turnover
Strike Concentration
≥60%Top 3 strikes = 50% — dispersed
Multi-Day Persistence
≥2 days1 day(s) elevated — may be one-day event
OI Build
≥5%OI change +3.9% (5d) — building
Sector Relative≥60%
Sector activity percentile 85% — very active vs sector
Trade Quality
≥30%Large trade volume 75% — heavy institutional
Execution Urgency
≥60%Aggressive execution 45% — patient
Flow Conviction
≥30Conviction -25 (bearish) — mixed
Liquidity
Can I trade efficiently?
3.8
IlliquidLiquid
Evaluates
bid-ask spreads
, volume depth, and open interest for trade execution quality.Risk Checks3/8 checks passed
Tradeable Spread
≤5.0%Spread 12.1% — wide
Adequate OI
≥10,000OI 117,597 — deep
Active Volume
≥500Volume 16,754/day — active
Reasonable Cost
≤$0.50$0.60 to cross — expensive
Strike Coverage
≥5 strikes0 liquid strikes — limited options
Sector Relative≤40%
Sector spread percentile 73% — wider than sector
Order Book Depth
≥100 contractsDepth 185.5 contracts (bid:112.0 ask:73.5) — adequate
Execution Quality
<1.0%Avg slippage 5.31% — poor
Timing
Is now a good time?
6.9
RiskyFavorable
Considers earnings proximity,
time decay
, and event calendar for optimal entry timing.Risk Checks6/9 checks passed
Term Structure Clarity
|slope| ≥5%Slope +0.0% — flat/unclear
IV Percentile Clarity
<30 or >70IV percentile 78% — seller opportunity
Event Detection
≥10pts kinkIV kink 20.5pts — event priced
Theta/Vega Clarity
<0.5 or >2.0θ/ν ratio 740.53 — favors income trades
Expiration Distribution
≥3 expirations1 liquid expirations — limited
Event Risk
≥60% (safe)safe window: No earnings detected
Spread Momentum
<1.2 ratioSpread ratio 1.00x — stable
Flow Momentum
≥25% strength + ≥50% consistencyFlow -25% @ 62% consistency — unclear
Smart Money Timing
≥40 composite scoreScore 105 (ITM 20% + inst 75%) — HIGH institutional
Directional Strategy Fit
Option Buyers
Long Calls5.3
bullishIV fair, mixed flow
Long Puts4.8
bearishIV fair, mixed flow
Premium Sellers
Cash-Secured Put5.3
bullishIV fair, mixed flow
Covered Call4.9
bearishIV fair, mixed flow
For educational purposes only. Not investment advice.