GLPG
GLPG Options Overview
IV is elevated with bearish flow. Conditions favor premium sellers.
REWARDS
RISK ANALYSIS
GLPG Gamma Walls
Value
Is IV priced right?
Measures whether options are cheap, fair, or rich relative to historical and peer
IV Rank 70.4% — elevated vs history
IV/HV 2.35x — IV premium over HV
Sector percentile 45% — below sector median
Front/Back 2.41x — backwardation
Put/Call IV 1.16x — elevated
ATM IV 50.2% — normal range
Effective IV 98.3% (ATM 50.2% + spread 24.0% + bias) — expensive
Total drag 42.91% (spread 24.03% + slippage 18.88%) — high friction
Vega efficiency 2.00 (vega 4.803 / spread 24.03%) — spread drag
Sentiment
Bullish or bearish?
Analyzes
Conviction-weighted: -97% (strong bearish) — Raw: -98%
|OI skew| 97.8% — put-heavy
Vol skew -96.2%, OI skew -97.8% — aligned
0-DTE 0%, far-OTM 15%, avg DTE 30
OI change +0.0% (5d) — stable
ITM: +0%, ATM: -100%, OTM: -100% — strong bearish (ITM/ATM divergent)
Sector P/C percentile 99% — very bearish vs sector
Activity
Unusual activity?
Detects volume surges,
Volume 2.8x avg — hot
Vol/OI 1.6% — normal turnover
Top 3 strikes = 50% — dispersed
1 day(s) elevated — may be one-day event
OI change +1.8% (5d) — stable
Sector activity percentile 43% — neutral vs sector
Large trade volume 0% — mostly retail
Aggressive execution 100% — highly urgent
Conviction -97 (bearish) — strong conviction
Liquidity
Can I trade efficiently?
Evaluates
Spread 24.0% — wide
OI 6,401 — thin
Volume 104/day — thin
$1.20 to cross — expensive
0 liquid strikes — limited options
Sector spread percentile 78% — wider than sector
Depth 22.4 contracts (bid:21.4 ask:1.0) — thin
Avg slippage 18.88% — poor
Timing
Is now a good time?
Considers earnings proximity,
Slope +140.8% — backwardation
IV percentile 70% — seller opportunity
IV kink 43.1pts — event priced
θ/ν ratio 284.21 — favors income trades
4 liquid expirations — flexible
acceptable: No earnings detected; CPI in 4d
Spread ratio 1.00x — stable
Flow -97% @ 99% consistency — STRONG directional (bearish)
Score 30 (ITM 20% + inst 0%) — retail dominated
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 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.