Options/GCC

GCCWisdomTree Enhanced Commodity Strategy Fund

Options Analysis Report•COMMODITY CONTRACTS BROKERS & DEALERS

AUM $300M|ARCX

● 2026-08-31$26.15

VERY BULLISH

Analysis: 2026-08-28 EOD data

1Y +25.0%YTD +23.0%7D -0.3%

Options Vol

30D

Implied Move

±22.4%

IV Rank

24%

GCC Options Overview

IV is elevated with bullish flow. Conditions favor premium sellers.

REWARDS

RISK ANALYSIS

Snowflake Analysis

Favorable conditions for premium sellers

Learn

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GCC Gamma Walls

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Value

Is IV priced right?

3.6

ExpensiveCheap

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

levels.

Risk Checks4/9 checks passed

IV Rank

≤35%

IV Rank 90.1% — elevated vs history

IV/HV Ratio

<1.05x

IV/HV 5.04x — IV premium over HV

Sector Relative≤50%

Sector percentile 94% — above sector median

Term Structure

<1.1x

Front/Back 1.17x — backwardation

Skew Normal

<1.25x

Put/Call IV 1.16x — elevated

Absolute IV

<80%

ATM IV 72.4% — normal range

Spread-Adjusted Value

<80%

Effective IV 76.3% (ATM 72.4% + spread 1.9% + bias) — fair

Execution Efficiency

<3.0%

Total drag 1.95% (spread 1.95% + slippage 0.00%) — minimal drag

Vega Efficiency

≥5.0

Vega efficiency 0.00 (vega 0.000 / spread 1.95%) — spread drag

Sentiment

Bullish or bearish?

5.8

BearishBullish

Analyzes

put/call ratios

open interest skew

, and flow direction to determine market bias.

Risk ChecksBalanced - Moderate signal (P/C: 1.00)

P/C Ratio

<0.65 or >1.55

P/C 1.00 — balanced (buy/sell unknown)

OI Skew Magnitude

≥15%

|OI skew| 100.0% — call-heavy

Volume-OI Alignment

Same sign, |vol skew| ≥10%

Vol skew +0.0%, OI skew +100.0% — divergent (opposite)

Conviction Quality

≥2/3 conditions

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

OI Momentum

|change| ≥3%

OI change +0.0% (5d) — stable

Sector Relative≤40% or ≥60%

Sector P/C percentile 27% — very bullish vs sector

Activity

Unusual activity?

3.3

QuietActive

Detects volume surges,

block trades

, and unusual options activity that may signal moves.

Risk Checks1/8 checks passed

Volume Surge

≥1.5x

Volume 1.0x avg — normal

Turnover Rate

≥15%

Vol/OI 0.0% — normal turnover

Multi-Day Persistence

≥2 days

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

OI Build

≥5%

OI change +7.1% (5d) — building

Sector Relative≥60%

Sector activity percentile 50% — neutral vs sector

Trade Quality

≥30%

Large trade volume 0% — mostly retail

Execution Urgency

≥60%

Aggressive execution 0% — patient

Flow Conviction

≥30

Conviction +0 (neutral) — mixed

Liquidity

Can I trade efficiently?

4.0

IlliquidLiquid

Evaluates

bid-ask spreads

, volume depth, and open interest for trade execution quality.

Risk Checks3/8 checks passed

Tradeable Spread

≤5.0%

Spread 1.9% — tight

Adequate OI

≥10,000

OI 15 — thin

Active Volume

≥500

Volume 0/day — thin

Reasonable Cost

≤$0.50

$0.10 to cross — cheap

Strike Coverage

≥5 strikes

0 liquid strikes — limited options

Sector Relative≤40%

Sector spread percentile 95% — much wider than sector

Order Book Depth

≥100 contracts

Depth 0 contracts (bid:0 ask:0) — thin

Execution Quality

<1.0%

Avg slippage 0.00% — excellent

Timing

Is now a good time?

6.2

RiskyFavorable

Considers earnings proximity,

time decay

, and event calendar for optimal entry timing.

Risk Checks5/9 checks passed

Term Structure Clarity

|slope| ≥5%

Slope +17.4% — backwardation

IV Percentile Clarity

<30 or >70

IV percentile 90% — seller opportunity

Event Detection

≥10pts kink

IV kink 0.0pts — no clear event

Theta/Vega Clarity

<0.5 or >2.0

θ/ν ratio 1.00 — favors mixed

Expiration Distribution

≥3 expirations

2 liquid expirations — limited

Event Risk

≥60% (safe)

safe window: No earnings detected

Spread Momentum

<1.2 ratio

Spread ratio 1.00x — stable

Flow Momentum

≥25% strength + ≥50% consistency

Flow +0% @ 50% consistency — unclear

Smart Money Timing

≥40 composite score

Score 60 (ITM 20% + inst 30%) — HIGH institutional

Directional Strategy Fit

Option Buyers

Long Calls5.5

bullishIV expensive, mixed flow

Long Puts4.3

bearishIV expensive, mixed flow

Premium Sellers

Cash-Secured Put5.7

bullishIV rich premium, mixed flow

Covered Call5.1

bearishIV rich premium, mixed 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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