FSLYFastly, Inc. Class A Common Stock
Options Analysis Report•SERVICES-PREPACKAGED SOFTWARE
Market Cap $2.8B|NASDAQ
● 2026-05-15$17.68
NEUTRAL
Analysis: 2026-05-14 EOD data
1Y +119.9%YTD +73.5%7D -13.8%
Options Vol
17,844
30D
Implied Move
±22.3%
IV Rank
28%
FSLY Options Overview
IV is elevated with bullish flow. Conditions favor premium sellers.
REWARDS
RISK ANALYSIS
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Value
Is IV priced right?
4.4
ExpensiveCheap
Measures whether options are cheap, fair, or rich relative to historical and peer
IV
levels.Risk Checks3/9 checks passed
IV Rank
≤35%IV Rank 88.7% — elevated vs history
IV/HV Ratio
<1.05xIV/HV 0.45x — IV ≤ HV
Sector Relative≤50%
Sector percentile 80% — above sector median
Term Structure
<1.1xFront/Back 0.85x — contango
Skew Normal
<1.25xPut/Call IV 1.16x — elevated
Absolute IV
<80%ATM IV 89.5% — crisis-level IV
Spread-Adjusted Value
<80%Effective IV 115.8% (ATM 89.5% + spread 13.1% + bias) — expensive
Execution Efficiency
<3.0%Total drag 17.77% (spread 13.14% + slippage 4.63%) — high friction
Vega Efficiency
≥5.0Vega efficiency 1.84 (vega 2.412 / spread 13.14%) — spread drag
Sentiment
Bullish or bearish?
6.2
BearishBullish
Analyzes
put/call ratios
, open interest skew
, and flow direction to determine market bias.Risk ChecksNeutral - Moderate signal (Conviction: -9%, Raw: -14%)
Flow Direction
|net sentiment| ≥25%Conviction-weighted: -9% (neutral) — Raw: -14%
OI Skew Magnitude
≥15%|OI skew| 10.4% — balanced
Volume-OI Alignment
Same sign, |vol skew| ≥10%Vol skew +44.0%, OI skew +10.4% — aligned
Conviction Quality
≥2/3 conditions0-DTE 38%, far-OTM 15%, avg DTE 30
OI Momentum
|change| ≥3%OI change +0.0% (5d) — stable
Smart Money Flow
|weighted flow| ≥20%ITM: -24%, ATM: +10%, OTM: -26% — bearish (ITM/ATM divergent)
Sector Relative≤40% or ≥60%
Sector P/C percentile 54% — neutral vs sector
Activity
Unusual activity?
3.9
QuietActive
Detects volume surges,
block trades
, and unusual options activity that may signal moves.Risk Checks2/9 checks passed
Volume Surge
≥1.5xVolume 0.6x avg — normal
Turnover Rate
≥15%Vol/OI 6.6% — 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 +5.8% (5d) — building
Sector Relative≥60%
Sector activity percentile 64% — active vs sector
Trade Quality
≥30%Large trade volume 21% — mixed
Execution Urgency
≥60%Aggressive execution 31% — patient
Flow Conviction
≥30Conviction -9 (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 13.1% — wide
Adequate OI
≥10,000OI 270,246 — deep
Active Volume
≥500Volume 17,844/day — active
Reasonable Cost
≤$0.50$0.66 to cross — expensive
Strike Coverage
≥5 strikes0 liquid strikes — limited options
Sector Relative≤40%
Sector spread percentile 89% — much wider than sector
Order Book Depth
≥100 contractsDepth 994.5 contracts (bid:410.6 ask:583.9) — deep
Execution Quality
<1.0%Avg slippage 4.63% — poor
Timing
Is now a good time?
6.9
RiskyFavorable
Considers earnings proximity,
time decay
, and event calendar for optimal entry timing.Risk Checks7/9 checks passed
Term Structure Clarity
|slope| ≥5%Slope -15.2% — contango
IV Percentile Clarity
<30 or >70IV percentile 89% — seller opportunity
Event Detection
≥10pts kinkIV kink -5.1pts — no clear event
Theta/Vega Clarity
<0.5 or >2.0θ/ν ratio 104.40 — favors income trades
Expiration Distribution
≥3 expirations5 liquid expirations — flexible
Event Risk
≥60% (safe)safe window: No earnings detected
Spread Momentum
<1.2 ratioSpread ratio 1.00x — stable
Flow Momentum
≥25% strength + ≥50% consistencyFlow -9% @ 54% consistency — unclear
Smart Money Timing
≥40 composite scoreScore 51 (ITM 20% + inst 21%) — moderate institutional
Directional Strategy Fit
Option Buyers
Long Calls5.3
bullishIV fair, bullish flow
Long Puts4.5
bearishIV fair, bullish flow
Premium Sellers
Cash-Secured Put5.6
bullishIV fair, bullish flow
Covered Call4.8
bearishIV fair, bullish flow
For educational purposes only. Not investment advice.