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FRGE

Options Analysis Report
Market Cap: --
● 2026-03-02$45.00
NEUTRAL
Analysis: 2026-02-27 EOD data
1Y +151.1%YTD +1.2%7D +0.0%
595
30D
±0.4%
5%

FRGE Options Overview

IV is low with bullish flow and unusual activity. Conditions favor option buyers.

REWARDS

RISK ANALYSIS

6.4VALUESENTIMENTACTIVITYLIQUIDITYTIMING

Snowflake Analysis

Favorable conditions for option buyers

Learn
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FRGE Gamma Walls

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Value

Is IV priced right?

8.3
ExpensiveCheap

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

levels.

Risk Checks6/9 checks passed
≤35%

IV Rank 0.1% — cheap vs history

<1.05x

IV/HV 0.55x — IV ≤ HV

Sector Relative≤50%

Sector percentile 0% — below sector median

<1.1x

Front/Back 0.72x — contango

<1.25x

Put/Call IV 1.16x — elevated

<80%

ATM IV 1.5% — normal range

<80%

Effective IV 378.3% (ATM 1.5% + spread 188.4% + bias) — expensive

<3.0%

Total drag 251.90% (spread 188.41% + slippage 63.49%) — high friction

≥5.0

Vega efficiency 0.00 (vega 0.000 / spread 188.41%) — spread drag

Sentiment

Bullish or bearish?

6.3
BearishBullish

Analyzes

,
, and flow direction to determine market bias.

Risk ChecksBullish - Weak signal (Conviction: +13%, Raw: +6%)
|net sentiment| ≥25%

Conviction-weighted: +13% (bullish) — Raw: +6%

≥15%

|OI skew| 5.2% — balanced

Same sign, |vol skew| ≥10%

Vol skew +42.2%, OI skew -5.2% — divergent (opposite)

≥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: +6%, OTM: +0% — neutral (ITM/ATM divergent)

Sector Relative≤40% or ≥60%

Sector P/C percentile 43% — bullish vs sector

Activity

Unusual activity?

7.3
QuietActive

Detects volume surges,

, and unusual options activity that may signal moves.

Risk Checks5/9 checks passed
≥1.5x

Volume 12.7x avg — hot

≥15%

Vol/OI 36.7% — high turnover

≥60%

Top 3 strikes = 50% — dispersed

≥2 days

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

≥5%

OI change +56.2% (5d) — building

Sector Relative≥60%

Sector activity percentile 98% — very active vs sector

≥30%

Large trade volume 34% — institutional presence

≥60%

Aggressive execution 50% — patient

≥30

Conviction +13 (bullish) — mixed

Liquidity

Can I trade efficiently?

3.3
IlliquidLiquid

Evaluates

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

Risk Checks2/8 checks passed
≤5.0%

Spread 188.4% — wide

≥10,000

OI 1,621 — thin

≥500

Volume 595/day — adequate

≤$0.50

$9.42 to cross — expensive

≥5 strikes

10 liquid strikes — good coverage

Sector Relative≤40%

Sector spread percentile 46% — neutral vs sector

≥100 contracts

Depth 8.4 contracts (bid:5.7 ask:2.7) — thin

<1.0%

Avg slippage 63.49% — poor

Timing

Is now a good time?

6.8
RiskyFavorable

Considers earnings proximity,

, and event calendar for optimal entry timing.

Risk Checks6/9 checks passed
|slope| ≥5%

Slope -27.8% — contango

<30 or >70

IV percentile 0% — buyer opportunity

≥10pts kink

IV kink -0.3pts — no clear event

<0.5 or >2.0

θ/ν ratio 1.00 — favors mixed

≥3 expirations

4 liquid expirations — flexible

≥60% (safe)

safe window: No earnings detected

<1.2 ratio

Spread ratio 1.00x — stable

≥25% strength + ≥50% consistency

Flow +13% @ 57% consistency — unclear

≥40 composite score

Score 64 (ITM 20% + inst 34%) — HIGH institutional

Directional Strategy Fit

Option Buyers
Long Calls6.6
bullishIV cheap, bullish flow
Long Puts5.7
bearishIV cheap, bullish flow
Premium Sellers
Cash-Secured Put4.4
bullishIV too cheap, bullish flow
Covered Call3.5
bearishIV too cheap, 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.

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