HONHoneywell International, Inc.
Options Analysis Report•AIRCRAFT ENGINES & ENGINE PARTS
Market Cap $138.0B|NASDAQ
● 2026-05-15$217.72
NEUTRAL
Analysis: 2026-05-14 EOD data
1Y +3.9%YTD +11.1%7D +2.2%
Options Vol
10,438
30D
Implied Move
±7.8%
IV Rank
59%
HON Options Overview
IV is low. Conditions favor option buyers.
REWARDS
RISK ANALYSIS
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Value
Is IV priced right?
7.4
ExpensiveCheap
Measures whether options are cheap, fair, or rich relative to historical and peer
IV
levels.Risk Checks7/9 checks passed
IV Rank
≤35%IV Rank 21.7% — cheap vs history
IV/HV Ratio
<1.05xIV/HV 1.06x — IV premium over HV
Sector Relative≤50%
Sector percentile 13% — below sector median
Term Structure
<1.1xFront/Back 0.98x — contango
Skew Normal
<1.25xPut/Call IV 1.16x — elevated
Absolute IV
<80%ATM IV 28.6% — normal range
Spread-Adjusted Value
<80%Effective IV 44.2% (ATM 28.6% + spread 7.8% + bias) — excellent value
Execution Efficiency
<3.0%Total drag 11.08% (spread 7.78% + slippage 3.30%) — high friction
Vega Efficiency
≥5.0Vega efficiency 113.38 (vega 88.208 / spread 7.78%) — efficient
Sentiment
Bullish or bearish?
5.3
BearishBullish
Analyzes
put/call ratios
, open interest skew
, and flow direction to determine market bias.Risk ChecksBearish - Moderate signal (Conviction: -22%, Raw: -15%)
Flow Direction
|net sentiment| ≥25%Conviction-weighted: -22% (bearish) — Raw: -15%
OI Skew Magnitude
≥15%|OI skew| 28.8% — call-heavy
Volume-OI Alignment
Same sign, |vol skew| ≥10%Vol skew +15.4%, OI skew +28.8% — aligned
Conviction Quality
≥2/3 conditions0-DTE 23%, far-OTM 15%, avg DTE 30
OI Momentum
|change| ≥3%OI change +0.0% (5d) — stable
Smart Money Flow
|weighted flow| ≥20%ITM: -21%, ATM: +30%, OTM: -39% — neutral (ITM/ATM divergent)
Sector Relative≤40% or ≥60%
Sector P/C percentile 45% — neutral vs sector
Activity
Unusual activity?
4.7
QuietActive
Detects volume surges,
block trades
, and unusual options activity that may signal moves.Risk Checks2/9 checks passed
Volume Surge
≥1.5xVolume 1.3x avg — normal
Turnover Rate
≥15%Vol/OI 6.9% — 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 +10.0% (5d) — building
Sector Relative≥60%
Sector activity percentile 81% — very active vs sector
Trade Quality
≥30%Large trade volume 14% — mostly retail
Execution Urgency
≥60%Aggressive execution 30% — patient
Flow Conviction
≥30Conviction -22 (bearish) — mixed
Liquidity
Can I trade efficiently?
5.1
IlliquidLiquid
Evaluates
bid-ask spreads
, volume depth, and open interest for trade execution quality.Risk Checks5/8 checks passed
Tradeable Spread
≤5.0%Spread 7.8% — wide
Adequate OI
≥10,000OI 150,373 — deep
Active Volume
≥500Volume 10,438/day — active
Reasonable Cost
≤$0.50$0.39 to cross — cheap
Strike Coverage
≥5 strikes0 liquid strikes — limited options
Sector Relative≤40%
Sector spread percentile 17% — much tighter than sector
Order Book Depth
≥100 contractsDepth 120.0 contracts (bid:54.8 ask:65.2) — adequate
Execution Quality
<1.0%Avg slippage 3.30% — poor
Timing
Is now a good time?
6.6
RiskyFavorable
Considers earnings proximity,
time decay
, and event calendar for optimal entry timing.Risk Checks6/9 checks passed
Term Structure Clarity
|slope| ≥5%Slope -1.7% — flat/unclear
IV Percentile Clarity
<30 or >70IV percentile 22% — buyer opportunity
Event Detection
≥10pts kinkIV kink 0.2pts — no clear event
Theta/Vega Clarity
<0.5 or >2.0θ/ν ratio 2309.10 — favors income trades
Expiration Distribution
≥3 expirations5 liquid expirations — flexible
Event Risk
≥60% (safe)safe window: No events detected
Spread Momentum
<1.2 ratioSpread ratio 1.00x — stable
Flow Momentum
≥25% strength + ≥50% consistencyFlow -22% @ 61% consistency — unclear
Smart Money Timing
≥40 composite scoreScore 44 (ITM 20% + inst 14%) — moderate institutional
Directional Strategy Fit
Option Buyers
Long Calls6.2
bullishIV cheap, mixed flow
Long Puts6.0
bearishIV cheap, mixed flow
Premium Sellers
Cash-Secured Put4.7
bullishIV too cheap, mixed flow
Covered Call4.4
bearishIV too cheap, mixed flow
For educational purposes only. Not investment advice.