FUTUFutu Holdings Limited American Depositary Shares
Options Analysis Report
Market Cap $12.8B|NASDAQ
● 2026-06-09$91.08
BEARISH
Analysis: 2026-06-08 EOD data
1Y -16.4%YTD -49.0%7D -10.7%
Options Vol
8,644
30D
Implied Move
±18.6%
IV Rank
59%
FUTU Options Overview
IV is elevated with bearish flow and unusual activity. Conditions favor premium sellers.
REWARDS
RISK ANALYSIS
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Value
Is IV priced right?
4.6
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 81.2% — elevated vs history
IV/HV Ratio
<1.05xIV/HV 0.48x — IV ≤ HV
Sector Relative≤50%
Sector percentile 89% — above sector median
Term Structure
<1.1xFront/Back 1.10x — backwardation
Skew Normal
<1.25xPut/Call IV 1.16x — elevated
Absolute IV
<80%ATM IV 66.6% — normal range
Spread-Adjusted Value
<80%Effective IV 89.4% (ATM 66.6% + spread 11.4% + bias) — expensive
Execution Efficiency
<3.0%Total drag 16.97% (spread 11.39% + slippage 5.58%) — high friction
Vega Efficiency
≥5.0Vega efficiency 5.14 (vega 5.852 / spread 11.39%) — acceptable
Sentiment
Bullish or bearish?
3.0
BearishBullish
Analyzes
put/call ratios
, open interest skew
, and flow direction to determine market bias.Risk ChecksBearish - Strong signal (Conviction: -29%, Raw: -23%)
Flow Direction
|net sentiment| ≥25%Conviction-weighted: -29% (bearish) — Raw: -23%
OI Skew Magnitude
≥15%|OI skew| 12.3% — balanced
Volume-OI Alignment
Same sign, |vol skew| ≥10%Vol skew -15.3%, OI skew -12.3% — aligned
Conviction Quality
≥2/3 conditions0-DTE 0%, far-OTM 15%, avg DTE 30
OI Momentum
|change| ≥3%OI change +0.0% (5d) — stable
Smart Money Flow
|weighted flow| ≥20%ITM: -26%, ATM: -2%, OTM: -26% — bearish (ITM/ATM aligned)
Sector Relative≤40% or ≥60%
Sector P/C percentile 90% — very bearish vs sector
Activity
Unusual activity?
3.4
QuietActive
Detects volume surges,
block trades
, and unusual options activity that may signal moves.Risk Checks1/9 checks passed
Volume Surge
≥1.5xVolume 0.2x avg — normal
Turnover Rate
≥15%Vol/OI 5.8% — 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 -12.8% (5d) — unwinding
Sector Relative≥60%
Sector activity percentile 78% — active vs sector
Trade Quality
≥30%Large trade volume 6% — mostly retail
Execution Urgency
≥60%Aggressive execution 43% — patient
Flow Conviction
≥30Conviction -29 (bearish) — mixed
Liquidity
Can I trade efficiently?
3.9
IlliquidLiquid
Evaluates
bid-ask spreads
, volume depth, and open interest for trade execution quality.Risk Checks2/8 checks passed
Tradeable Spread
≤5.0%Spread 11.4% — wide
Adequate OI
≥10,000OI 148,234 — deep
Active Volume
≥500Volume 8,644/day — active
Reasonable Cost
≤$0.50$0.57 to cross — expensive
Strike Coverage
≥5 strikes0 liquid strikes — limited options
Sector Relative≤40%
Sector spread percentile 91% — much wider than sector
Order Book Depth
≥100 contractsDepth 97.0 contracts (bid:59.0 ask:38.0) — thin
Execution Quality
<1.0%Avg slippage 5.58% — poor
Timing
Is now a good time?
7.1
RiskyFavorable
Considers earnings proximity,
time decay
, and event calendar for optimal entry timing.Risk Checks6/9 checks passed
Term Structure Clarity
|slope| ≥5%Slope +9.6% — backwardation
IV Percentile Clarity
<30 or >70IV percentile 81% — seller opportunity
Event Detection
≥10pts kinkIV kink 7.4pts — no clear event
Theta/Vega Clarity
<0.5 or >2.0θ/ν ratio 32.00 — favors income trades
Expiration Distribution
≥3 expirations5 liquid expirations — flexible
Event Risk
≥60% (safe)caution advised: No earnings detected; CPI in 1d (HIGH)
Spread Momentum
<1.2 ratioSpread ratio 1.00x — stable
Flow Momentum
≥25% strength + ≥50% consistencyFlow -29% @ 64% consistency — moderate (bearish)
Smart Money Timing
≥40 composite scoreScore 36 (ITM 20% + inst 6%) — retail dominated
Directional Strategy Fit
Option Buyers
Long Calls4.3
bullishIV fair, bearish flow
Long Puts5.7
bearishIV fair, bearish flow
Premium Sellers
Cash-Secured Put4.5
bullishIV fair, bearish flow
Covered Call5.8
bearishIV fair, bearish flow
For educational purposes only. Not investment advice.