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Options Analysis Report•COMMODITY CONTRACTS BROKERS & DEALERS
AUM $370M|ARCX
● 2026-08-31$106.98
BEARISH
Analysis: 2026-08-28 EOD data
1Y -0.4%YTD -1.0%7D -0.6%
413
30D
±2.2%
3%

FXE Options Overview

IV is low. Conditions favor option buyers.

REWARDS

RISK ANALYSIS

4.8VALUESENTIMENTACTIVITYLIQUIDITYTIMING

Snowflake Analysis

Favorable conditions for option buyers

Learn
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FXE Gamma Walls

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Value

Is IV priced right?

7.5
ExpensiveCheap

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

levels.

Risk Checks4/9 checks passed
≤35%

IV Rank 1.4% — cheap vs history

<1.05x

IV/HV 1.43x — IV premium over HV

Sector Relative≤50%

Sector percentile 2% — below sector median

<1.1x

Front/Back 1.12x — backwardation

<1.25x

Put/Call IV 1.16x — elevated

<80%

ATM IV 6.7% — normal range

<80%

Effective IV 82.5% (ATM 6.7% + spread 37.9% + bias) — expensive

<3.0%

Total drag 49.81% (spread 37.89% + slippage 11.92%) — high friction

≥5.0

Vega efficiency 1.74 (vega 6.596 / spread 37.89%) — spread drag

Sentiment

Bullish or bearish?

3.8
BearishBullish

Analyzes

,
, and flow direction to determine market bias.

Risk ChecksNeutral - Strong signal (Conviction: +8%, Raw: +4%)
|net sentiment| ≥25%

Conviction-weighted: +8% (neutral) — Raw: +4%

≥15%

|OI skew| 58.3% — put-heavy

Same sign, |vol skew| ≥10%

Vol skew -43.3%, OI skew -58.3% — aligned

≥2/3 conditions

0-DTE 0%, far-OTM 15%, avg DTE 30

|change| ≥3%

OI change +0.0% (5d) — stable

|weighted flow| ≥20%

ITM: -100%, ATM: +2%, OTM: +100% — strong bearish (ITM/ATM divergent)

Sector Relative≤40% or ≥60%

Sector P/C percentile 95% — very bearish vs sector

Activity

Unusual activity?

3.0
QuietActive

Detects volume surges,

, and unusual options activity that may signal moves.

Risk Checks0/8 checks passed
≥1.5x

Volume 1.3x avg — normal

≥15%

Vol/OI 1.6% — normal turnover

≥2 days

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

≥5%

OI change +0.8% (5d) — stable

Sector Relative≥60%

Sector activity percentile 40% — neutral vs sector

≥30%

Large trade volume 0% — mostly retail

≥60%

Aggressive execution 32% — patient

≥30

Conviction +8 (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 37.9% — wide

≥10,000

OI 26,433 — adequate

≥500

Volume 413/day — thin

≤$0.50

$1.89 to cross — expensive

≥5 strikes

0 liquid strikes — limited options

Sector Relative≤40%

Sector spread percentile 26% — tighter than sector

≥100 contracts

Depth 43.0 contracts (bid:26.5 ask:16.5) — thin

<1.0%

Avg slippage 11.92% — poor

Timing

Is now a good time?

6.7
RiskyFavorable

Considers earnings proximity,

, and event calendar for optimal entry timing.

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

Slope +11.9% — backwardation

<30 or >70

IV percentile 1% — buyer opportunity

≥10pts kink

IV kink 0.8pts — no clear event

<0.5 or >2.0

θ/ν ratio 223.61 — favors income trades

≥3 expirations

3 liquid expirations — flexible

≥60% (safe)

safe window: No earnings detected

<1.2 ratio

Spread ratio 1.00x — stable

≥25% strength + ≥50% consistency

Flow +8% @ 54% consistency — unclear

≥40 composite score

Score 30 (ITM 20% + inst 0%) — retail dominated

Directional Strategy Fit

Option Buyers
Long Calls5.5
bullishIV cheap, bearish flow
Long Puts7.2
bearishIV cheap, bearish flow
Premium Sellers
Cash-Secured Put3.7
bullishIV too cheap, bearish flow
Covered Call4.6
bearishIV too cheap, bearish 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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