IV is low with unusual activity. Conditions favor option buyers.
Is IV priced right?
Measures whether options are cheap, fair, or rich relative to historical and peer
IV Rank 0.8% — cheap vs history
IV/HV 2.23x — IV premium over HV
Sector percentile 1% — below sector median
Front/Back 0.77x — contango
Put/Call IV 1.16x — elevated
ATM IV 8.9% — normal range
Effective IV 60.1% (ATM 8.9% + spread 25.6% + bias) — good value
Total drag 36.72% (spread 25.58% + slippage 11.14%) — high friction
Vega efficiency 0.00 (vega 0.000 / spread 25.58%) — spread drag
Bullish or bearish?
Analyzes
Conviction-weighted: -8% (neutral) — Raw: -4%
|OI skew| 60.6% — put-heavy
Vol skew +63.7%, OI skew -60.6% — divergent (opposite)
0-DTE 6%, far-OTM 15%, avg DTE 30
OI change +0.0% (5d) — stable
ITM: -67%, ATM: -2%, OTM: -24% — strong bearish (ITM/ATM aligned)
Sector P/C percentile 15% — very bullish vs sector
Unusual activity?
Detects volume surges,
Volume 1.8x avg — elevated
Vol/OI 6.9% — normal turnover
Top 3 strikes = 50% — dispersed
1 day(s) elevated — may be one-day event
OI change +8.9% (5d) — building
Sector activity percentile 73% — active vs sector
Large trade volume 98% — heavy institutional
Aggressive execution 66% — urgent
Conviction -8 (bearish) — mixed
Can I trade efficiently?
Evaluates
Spread 25.6% — wide
OI 9,810,058 — deep
Volume 673,890/day — active
$1.28 to cross — expensive
0 liquid strikes — limited options
Sector spread percentile 17% — much tighter than sector
Depth 333.1 contracts (bid:154.6 ask:178.5) — adequate
Avg slippage 11.14% — poor
Is now a good time?
Considers earnings proximity,
Slope -22.7% — contango
IV percentile 1% — buyer opportunity
IV kink 0.5pts — no clear event
θ/ν ratio 1.00 — favors mixed
5 liquid expirations — flexible
safe window: No earnings detected
Spread ratio 1.00x — stable
Flow -8% @ 54% consistency — unclear
Score 128 (ITM 20% + inst 98%) — HIGH institutional
For educational purposes only. Not investment advice.