Options/HUBS

HUBSHUBSPOT, INC.

Options Analysis Report•SERVICES-PREPACKAGED SOFTWARE

Market Cap $12.8B|NYSE

● 2026-08-28$255.83

NEUTRAL

Analysis: 2026-08-27 EOD data

1Y -46.3%YTD -33.1%7D +6.6%

Options Vol

1,464

30D

Implied Move

±19.2%

IV Rank

29%

HUBS Options Overview

IV is elevated with unusual activity. Conditions favor premium sellers.

REWARDS

RISK ANALYSIS

Snowflake Analysis

Favorable conditions for premium sellers

Learn

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HUBS Gamma Walls

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HUBS Hedge Radar

No action needed

Full Hedge Radar

Fragility reads low; protection is priced cheap. Neither axis is a forecast — this is where HUBS sits on protection cost vs. fragility today.

Protection is priced in the cheap band (2.09) — options are pricing vol 45% below what the stock has actually been realizing, and downside puts carry 1.3 IV points LESS than at-the-money, measured against this name's own rolling 24-trading-day realized moves (480 overlapping windows). Fragility reads resilient (4): it is trading 13% above its hedge wall on a wall graded HIGH for reliability, and its realized-vol regime is expanding.

Protection cost

2.09/ 10cheap

Basis: cross_sectional

Fragility

4.00/ 10resilient

Basis: per_ticker

Value

Is IV priced right?

6.0

ExpensiveCheap

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

levels.

Risk Checks5/9 checks passed

IV Rank

≤35%

IV Rank 86.2% — elevated vs history

IV/HV Ratio

<1.05x

IV/HV 0.63x — IV ≤ HV

Sector Relative≤50%

Sector percentile 67% — 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 68.5% — normal range

Spread-Adjusted Value

<80%

Effective IV 86.1% (ATM 68.5% + spread 8.8% + bias) — expensive

Execution Efficiency

<3.0%

Total drag 13.26% (spread 8.82% + slippage 4.44%) — high friction

Vega Efficiency

≥5.0

Vega efficiency 28.46 (vega 25.099 / spread 8.82%) — efficient

Sentiment

Bullish or bearish?

4.6

BearishBullish

Analyzes

put/call ratios

open interest skew

, and flow direction to determine market bias.

Risk ChecksVery Bearish - Strong signal (Conviction: -35%, Raw: -21%)

Flow Direction

|net sentiment| ≥25%

Conviction-weighted: -35% (strong bearish) — Raw: -21%

OI Skew Magnitude

≥15%

|OI skew| 0.7% — balanced

Volume-OI Alignment

Same sign, |vol skew| ≥10%

Vol skew +16.3%, OI skew +0.7% — 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: -26%, ATM: -65%, OTM: -6% — strong bearish (ITM/ATM aligned)

Sector Relative≤40% or ≥60%

Sector P/C percentile 65% — bearish vs sector

Activity

Unusual activity?

3.4

QuietActive

Detects volume surges,

block trades

, and unusual options activity that may signal moves.

Risk Checks1/8 checks passed

Volume Surge

≥1.5x

Volume 0.4x avg — normal

Turnover Rate

≥15%

Vol/OI 3.3% — normal turnover

Multi-Day Persistence

≥2 days

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

OI Build

≥5%

OI change -39.3% (5d) — unwinding

Sector Relative≥60%

Sector activity percentile 51% — neutral vs sector

Trade Quality

≥30%

Large trade volume 24% — mixed

Execution Urgency

≥60%

Aggressive execution 19% — patient

Flow Conviction

≥30

Conviction -35 (bearish) — moderate

Liquidity

Can I trade efficiently?

3.7

IlliquidLiquid

Evaluates

bid-ask spreads

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

Risk Checks3/8 checks passed

Tradeable Spread

≤5.0%

Spread 8.8% — wide

Adequate OI

≥10,000

OI 44,101 — adequate

Active Volume

≥500

Volume 1,464/day — adequate

Reasonable Cost

≤$0.50

$0.44 to cross — cheap

Strike Coverage

≥5 strikes

0 liquid strikes — limited options

Sector Relative≤40%

Sector spread percentile 80% — much wider than sector

Order Book Depth

≥100 contracts

Depth 33.1 contracts (bid:19.1 ask:14.0) — thin

Execution Quality

<1.0%

Avg slippage 4.44% — poor

Timing

Is now a good time?

7.6

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 86% — seller opportunity

Event Detection

≥10pts kink

IV kink -1.8pts — no clear event

Theta/Vega Clarity

<0.5 or >2.0

θ/ν ratio 61.91 — 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 -35% @ 67% consistency — moderate (bearish)

Smart Money Timing

≥40 composite score

Score 54 (ITM 20% + inst 24%) — moderate institutional

Directional Strategy Fit

Option Buyers

Long Calls5.4

bullishIV cheap, mixed flow

Long Puts5.7

bearishIV cheap, mixed flow

Premium Sellers

Cash-Secured Put4.7

bullishIV too cheap, mixed flow

Covered Call5.0

bearishIV too cheap, mixed flow

For educational purposes only. Not investment advice.