HSBCHSBC Holdings PLC
Options Analysis Report
Market Cap $316.1B|NYSE
● 2026-04-17$92.16
NEUTRAL
Analysis: 2026-04-16 EOD data
1Y +76.9%YTD +14.6%7D +2.1%
Options Vol
810
30D
Implied Move
±8.6%
IV Rank
38%
HSBC 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 Checks8/9 checks passed
IV Rank
≤35%IV Rank 26.3% — cheap vs history
IV/HV Ratio
<1.05xIV/HV 0.88x — IV ≤ HV
Sector Relative≤50%
Sector percentile 38% — below sector median
Term Structure
<1.1xFront/Back 0.95x — contango
Skew Normal
<1.25xPut/Call IV 1.16x — elevated
Absolute IV
<80%ATM IV 30.9% — normal range
Spread-Adjusted Value
<80%Effective IV 56.7% (ATM 30.9% + spread 12.9% + bias) — good value
Execution Efficiency
<3.0%Total drag 18.82% (spread 12.91% + slippage 5.91%) — high friction
Vega Efficiency
≥5.0Vega efficiency 11.47 (vega 14.804 / spread 12.91%) — efficient
Sentiment
Bullish or bearish?
5.0
BearishBullish
Analyzes
put/call ratios
, open interest skew
, and flow direction to determine market bias.Risk ChecksBullish - Moderate signal (Conviction: +16%, Raw: +19%)
Flow Direction
|net sentiment| ≥25%Conviction-weighted: +16% (bullish) — Raw: +19%
OI Skew Magnitude
≥15%|OI skew| 23.4% — put-heavy
Volume-OI Alignment
Same sign, |vol skew| ≥10%Vol skew -3.0%, OI skew -23.4% — weak (same direction)
Conviction Quality
≥2/3 conditions0-DTE 15%, far-OTM 15%, avg DTE 30
OI Momentum
|change| ≥3%OI change +0.0% (5d) — stable
Smart Money Flow
|weighted flow| ≥20%ITM: -2%, ATM: +0%, OTM: +28% — neutral (ITM/ATM divergent)
Sector Relative≤40% or ≥60%
Sector P/C percentile 87% — very bearish vs sector
Activity
Unusual activity?
2.8
QuietActive
Detects volume surges,
block trades
, and unusual options activity that may signal moves.Risk Checks1/9 checks passed
Volume Surge
≥1.5xVolume 0.3x avg — normal
Turnover Rate
≥15%Vol/OI 1.2% — 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 +11.7% (5d) — building
Sector Relative≥60%
Sector activity percentile 26% — below sector avg
Trade Quality
≥30%Large trade volume 0% — mostly retail
Execution Urgency
≥60%Aggressive execution 46% — patient
Flow Conviction
≥30Conviction +16 (bullish) — mixed
Liquidity
Can I trade efficiently?
3.5
IlliquidLiquid
Evaluates
bid-ask spreads
, volume depth, and open interest for trade execution quality.Risk Checks3/8 checks passed
Tradeable Spread
≤5.0%Spread 12.9% — wide
Adequate OI
≥10,000OI 68,950 — deep
Active Volume
≥500Volume 810/day — adequate
Reasonable Cost
≤$0.50$0.65 to cross — expensive
Strike Coverage
≥5 strikes0 liquid strikes — limited options
Sector Relative≤40%
Sector spread percentile 49% — neutral vs sector
Order Book Depth
≥100 contractsDepth 253.2 contracts (bid:133.6 ask:119.6) — adequate
Execution Quality
<1.0%Avg slippage 5.91% — poor
Timing
Is now a good time?
6.9
RiskyFavorable
Considers earnings proximity,
time decay
, and event calendar for optimal entry timing.Risk Checks6/9 checks passed
Term Structure Clarity
|slope| ≥5%Slope -5.5% — contango
IV Percentile Clarity
<30 or >70IV percentile 26% — buyer opportunity
Event Detection
≥10pts kinkIV kink -2.8pts — no clear event
Theta/Vega Clarity
<0.5 or >2.0θ/ν ratio 397.96 — favors income trades
Expiration Distribution
≥3 expirations5 liquid expirations — flexible
Event Risk
≥60% (safe)safe window: No earnings detected
Spread Momentum
<1.2 ratioSpread ratio 1.00x — stable
Flow Momentum
≥25% strength + ≥50% consistencyFlow +16% @ 58% consistency — unclear
Smart Money Timing
≥40 composite scoreScore 30 (ITM 20% + inst 0%) — retail dominated
Directional Strategy Fit
Option Buyers
Long Calls5.9
bullishIV cheap, mixed flow
Long Puts5.9
bearishIV cheap, mixed flow
Premium Sellers
Cash-Secured Put4.3
bullishIV too cheap, mixed flow
Covered Call4.3
bearishIV too cheap, mixed flow
For educational purposes only. Not investment advice.