Mixed signals. No clear edge detected.
Is IV priced right?
Measures whether options are cheap, fair, or rich relative to historical and peer
IV Rank 54.3% — elevated vs history
IV/HV 1.43x — IV premium over HV
Sector percentile 54% — above sector median
Front/Back 0.86x — contango
Put/Call IV 1.16x — elevated
ATM IV 45.7% — normal range
Effective IV 49.6% (ATM 45.7% + spread 2.0% + bias) — excellent value
Total drag 4.64% (spread 1.96% + slippage 2.68%) — high friction
Vega efficiency 69.26 (vega 13.574 / spread 1.96%) — efficient
Bullish or bearish?
Analyzes
Conviction-weighted: -2% (neutral) — Raw: +1%
|OI skew| 21.9% — call-heavy
Vol skew +44.8%, OI skew +21.9% — aligned
0-DTE 30%, far-OTM 15%, avg DTE 30
OI change +0.0% (5d) — stable
ITM: +7%, ATM: +7%, OTM: -3% — neutral (ITM/ATM aligned)
Sector P/C percentile 33% — bullish vs sector
Unusual activity?
Detects volume surges,
Volume 1.0x avg — normal
Vol/OI 9.0% — normal turnover
Top 3 strikes = 50% — dispersed
1 day(s) elevated — may be one-day event
OI change +9.2% (5d) — building
Sector activity percentile 84% — very active vs sector
Large trade volume 52% — heavy institutional
Aggressive execution 66% — urgent
Conviction -2 (bearish) — mixed
Can I trade efficiently?
Evaluates
Spread 2.0% — tight
OI 6,589,122 — deep
Volume 595,298/day — active
$0.10 to cross — cheap
0 liquid strikes — limited options
Sector spread percentile 70% — wider than sector
Depth 919.5 contracts (bid:450.0 ask:469.5) — deep
Avg slippage 2.68% — poor
Is now a good time?
Considers earnings proximity,
Slope -14.3% — contango
IV percentile 54% — neutral
IV kink -4.0pts — no clear event
θ/ν ratio 887.20 — favors income trades
5 liquid expirations — flexible
safe window: No earnings detected
Spread ratio 1.00x — stable
Flow -2% @ 51% consistency — unclear
Score 82 (ITM 20% + inst 52%) — HIGH institutional
For educational purposes only. Not investment advice.