Options/GSOL

GSOLGrayscale Solana Staking ETF Shares

Options Analysis Report•COMMODITY CONTRACTS BROKERS & DEALERS

AUM $156M|ARCX

● 2026-08-31$7.86

VERY BULLISH

Analysis: 2026-08-28 EOD data

1Y -55.2%YTD -18.4%7D +7.4%

Options Vol

2,334

30D

Implied Move

±16.9%

IV Rank

GSOL Options Overview

IV is elevated with bullish flow and unusual activity. No clear edge detected.

REWARDS

RISK ANALYSIS

Snowflake Analysis

Favorable conditions for premium sellers

Learn

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GSOL Gamma Walls

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Value

Is IV priced right?

4.9

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 82.4% — elevated vs history

IV/HV Ratio

<1.05x

IV/HV 0.96x — IV ≤ HV

Sector Relative≤50%

Sector percentile 90% — above sector median

Term Structure

<1.1x

Front/Back 0.97x — contango

Skew Normal

<1.25x

Put/Call IV 1.16x — elevated

Absolute IV

<80%

ATM IV 58.4% — normal range

Spread-Adjusted Value

<80%

Effective IV 136.1% (ATM 58.4% + spread 38.9% + bias) — expensive

Execution Efficiency

<3.0%

Total drag 59.64% (spread 38.87% + slippage 20.77%) — high friction

Vega Efficiency

≥5.0

Vega efficiency 0.55 (vega 2.121 / spread 38.87%) — spread drag

Sentiment

Bullish or bearish?

7.8

BearishBullish

Analyzes

put/call ratios

open interest skew

, and flow direction to determine market bias.

Risk ChecksVery Bullish - Strong signal (Conviction: +38%, Raw: +52%)

Flow Direction

|net sentiment| ≥25%

Conviction-weighted: +38% (strong bullish) — Raw: +52%

OI Skew Magnitude

≥15%

|OI skew| 80.6% — call-heavy

Volume-OI Alignment

Same sign, |vol skew| ≥10%

Vol skew +96.7%, OI skew +80.6% — aligned

Conviction Quality

≥2/3 conditions

0-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: -43%, ATM: +49%, OTM: +73% — neutral (ITM/ATM divergent)

Sector Relative≤40% or ≥60%

Sector P/C percentile 1% — very bullish vs sector

Activity

Unusual activity?

8.8

QuietActive

Detects volume surges,

block trades

, and unusual options activity that may signal moves.

Risk Checks7/8 checks passed

Volume Surge

≥1.5x

Volume 6.5x avg — hot

Turnover Rate

≥15%

Vol/OI 66.1% — high turnover

Multi-Day Persistence

≥2 days

2 day(s) elevated — sustained

OI Build

≥5%

OI change +34.8% (5d) — building

Sector Relative≥60%

Sector activity percentile 98% — very active vs sector

Trade Quality

≥30%

Large trade volume 60% — heavy institutional

Execution Urgency

≥60%

Aggressive execution 56% — patient

Flow Conviction

≥30

Conviction +38 (bullish) — moderate

Liquidity

Can I trade efficiently?

2.8

IlliquidLiquid

Evaluates

bid-ask spreads

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

Risk Checks2/8 checks passed

Tradeable Spread

≤5.0%

Spread 38.9% — wide

Adequate OI

≥10,000

OI 3,533 — thin

Active Volume

≥500

Volume 2,334/day — adequate

Reasonable Cost

≤$0.50

$1.94 to cross — expensive

Strike Coverage

≥5 strikes

0 liquid strikes — limited options

Sector Relative≤40%

Sector spread percentile 92% — much wider than sector

Order Book Depth

≥100 contracts

Depth 480.29999999999995 contracts (bid:101.6 ask:378.7) — adequate

Execution Quality

<1.0%

Avg slippage 20.77% — poor

Timing

Is now a good time?

7.1

RiskyFavorable

Considers earnings proximity,

time decay

, and event calendar for optimal entry timing.

Risk Checks7/9 checks passed

Term Structure Clarity

|slope| ≥5%

Slope -3.0% — flat/unclear

IV Percentile Clarity

<30 or >70

IV percentile 82% — seller opportunity

Event Detection

≥10pts kink

IV kink 0.9pts — no clear event

Theta/Vega Clarity

<0.5 or >2.0

θ/ν ratio 517.32 — favors income trades

Expiration Distribution

≥3 expirations

4 liquid expirations — flexible

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 +38% @ 69% consistency — moderate (bullish)

Smart Money Timing

≥40 composite score

Score 90 (ITM 20% + inst 60%) — HIGH institutional

Directional Strategy Fit

Option Buyers

Long Calls6.9

bullishIV fair, bullish flow

Long Puts4.0

bearishIV fair, bullish flow

Premium Sellers

Cash-Secured Put5.9

bullishIV fair, bullish flow

Covered Call3.9

bearishIV fair, bullish 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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