IV is elevated. Conditions favor premium sellers.
Is IV priced right?
Measures whether options are cheap, fair, or rich relative to historical and peer
IV Rank 80.9% — elevated vs history
IV/HV 0.74x — IV ≤ HV
Sector percentile 81% — above sector median
Front/Back 1.05x — backwardation
Put/Call IV 1.16x — elevated
ATM IV 72.4% — normal range
Effective IV 135.4% (ATM 72.4% + spread 31.5% + bias) — expensive
Total drag 50.93% (spread 31.48% + slippage 19.45%) — high friction
Vega efficiency 25.64 (vega 80.703 / spread 31.48%) — efficient
Bullish or bearish?
Analyzes
Conviction-weighted: -21% (bearish) — Raw: -25%
|OI skew| 29.6% — call-heavy
Vol skew +26.9%, OI skew +29.6% — aligned
0-DTE 53%, far-OTM 15%, avg DTE 30
OI change +0.0% (5d) — stable
ITM: -49%, ATM: +26%, OTM: -44% — bearish (ITM/ATM divergent)
Sector P/C percentile 50% — neutral vs sector
Unusual activity?
Detects volume surges,
Volume 0.5x avg — normal
Vol/OI 4.6% — normal turnover
Top 3 strikes = 50% — dispersed
1 day(s) elevated — may be one-day event
OI change +2.8% (5d) — building
Sector activity percentile 70% — active vs sector
Large trade volume 5% — mostly retail
Aggressive execution 56% — patient
Conviction -21 (bearish) — mixed
Can I trade efficiently?
Evaluates
Spread 31.5% — wide
OI 47,820 — adequate
Volume 2,194/day — adequate
$1.57 to cross — expensive
0 liquid strikes — limited options
Sector spread percentile 89% — much wider than sector
Depth 22.5 contracts (bid:7.0 ask:15.5) — thin
Avg slippage 19.45% — poor
Is now a good time?
Considers earnings proximity,
Slope +5.2% — backwardation
IV percentile 81% — seller opportunity
IV kink 4.8pts — no clear event
θ/ν ratio 664.22 — favors income trades
5 liquid expirations — flexible
safe window: No earnings detected
Spread ratio 1.00x — stable
Flow -21% @ 60% consistency — unclear
Score 35 (ITM 20% + inst 5%) — retail dominated
For educational purposes only. Not investment advice.