FUTUFutu Holdings Limited American Depositary Shares
FUTU Options Overview
IV is elevated with bullish flow and unusual activity. Conditions favor premium sellers.
REWARDS
RISK ANALYSIS
FUTU Gamma Walls
Value
Is IV priced right?
Measures whether options are cheap, fair, or rich relative to historical and peer
IV Rank 71.7% — elevated vs history
IV/HV 0.84x — IV ≤ HV
Sector percentile 82% — above sector median
Front/Back 1.02x — flat
Put/Call IV 1.16x — elevated
ATM IV 50.0% — normal range
Effective IV 81.1% (ATM 50.0% + spread 15.6% + bias) — expensive
Total drag 25.64% (spread 15.57% + slippage 10.07%) — high friction
Vega efficiency 0.00 (vega 0.000 / spread 15.57%) — spread drag
Sentiment
Bullish or bearish?
Analyzes
Conviction-weighted: +10% (bullish) — Raw: +13%
|OI skew| 3.7% — balanced
Vol skew +23.6%, OI skew -3.7% — divergent (opposite)
0-DTE 8%, far-OTM 15%, avg DTE 30
OI change +0.0% (5d) — stable
ITM: +8%, ATM: +29%, OTM: +8% — bullish (ITM/ATM aligned)
Sector P/C percentile 22% — very bullish vs sector
Activity
Unusual activity?
Detects volume surges,
Volume 0.7x avg — normal
Vol/OI 4.9% — normal turnover
1 day(s) elevated — may be one-day event
OI change +1.2% (5d) — stable
Sector activity percentile 69% — active vs sector
Large trade volume 22% — mixed
Aggressive execution 33% — patient
Conviction +10 (bullish) — mixed
Liquidity
Can I trade efficiently?
Evaluates
Spread 15.6% — wide
OI 108,023 — deep
Volume 5,282/day — active
$0.78 to cross — expensive
0 liquid strikes — limited options
Sector spread percentile 86% — much wider than sector
Depth 81.6 contracts (bid:40.4 ask:41.2) — thin
Avg slippage 10.07% — poor
Timing
Is now a good time?
Considers earnings proximity,
Slope +2.0% — flat/unclear
IV percentile 72% — seller opportunity
IV kink 4.3pts — no clear event
θ/ν ratio 1.00 — favors mixed
5 liquid expirations — flexible
caution advised: FOMC in 5d; CPI in 0d (HIGH)
Spread ratio 1.00x — stable
Flow +10% @ 55% consistency — unclear
Score 52 (ITM 20% + inst 22%) — moderate 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.