IBMInternational Business Machines Corporation
Options Analysis Report•COMPUTER & OFFICE EQUIPMENT
Market Cap $205.2B|NYSE
● 2026-05-15$218.37
NEUTRAL
Analysis: 2026-05-14 EOD data
1Y -18.1%YTD -25.1%7D -5.0%
Options Vol
45,445
30D
Implied Move
±9.5%
IV Rank
34%
IBM Options Overview
unusual activity. No clear edge detected.
REWARDS
RISK ANALYSIS
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Value
Is IV priced right?
7.0
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 53.0% — elevated vs history
IV/HV Ratio
<1.05xIV/HV 0.91x — IV ≤ HV
Sector Relative≤50%
Sector percentile 14% — below sector median
Term Structure
<1.1xFront/Back 0.92x — contango
Skew Normal
<1.25xPut/Call IV 1.16x — elevated
Absolute IV
<80%ATM IV 35.6% — normal range
Spread-Adjusted Value
<80%Effective IV 51.7% (ATM 35.6% + spread 8.1% + bias) — good value
Execution Efficiency
<3.0%Total drag 13.27% (spread 8.05% + slippage 5.22%) — high friction
Vega Efficiency
≥5.0Vega efficiency 87.01 (vega 70.041 / spread 8.05%) — efficient
Sentiment
Bullish or bearish?
5.6
BearishBullish
Analyzes
put/call ratios
, open interest skew
, and flow direction to determine market bias.Risk ChecksNeutral - Moderate signal (Conviction: +5%, Raw: +9%)
Flow Direction
|net sentiment| ≥25%Conviction-weighted: +5% (neutral) — Raw: +9%
OI Skew Magnitude
≥15%|OI skew| 16.7% — call-heavy
Volume-OI Alignment
Same sign, |vol skew| ≥10%Vol skew +7.1%, OI skew +16.7% — weak (same direction)
Conviction Quality
≥2/3 conditions0-DTE 46%, far-OTM 15%, avg DTE 30
OI Momentum
|change| ≥3%OI change +0.0% (5d) — stable
Smart Money Flow
|weighted flow| ≥20%ITM: +9%, ATM: +9%, OTM: +10% — neutral (ITM/ATM aligned)
Sector Relative≤40% or ≥60%
Sector P/C percentile 76% — very bearish vs sector
Activity
Unusual activity?
5.0
QuietActive
Detects volume surges,
block trades
, and unusual options activity that may signal moves.Risk Checks3/9 checks passed
Volume Surge
≥1.5xVolume 1.0x avg — normal
Turnover Rate
≥15%Vol/OI 10.7% — 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 +10.9% (5d) — building
Sector Relative≥60%
Sector activity percentile 71% — active vs sector
Trade Quality
≥30%Large trade volume 36% — institutional presence
Execution Urgency
≥60%Aggressive execution 39% — patient
Flow Conviction
≥30Conviction +5 (bullish) — mixed
Liquidity
Can I trade efficiently?
5.6
IlliquidLiquid
Evaluates
bid-ask spreads
, volume depth, and open interest for trade execution quality.Risk Checks5/8 checks passed
Tradeable Spread
≤5.0%Spread 8.1% — wide
Adequate OI
≥10,000OI 425,823 — deep
Active Volume
≥500Volume 45,445/day — active
Reasonable Cost
≤$0.50$0.40 to cross — cheap
Strike Coverage
≥5 strikes2 liquid strikes — limited options
Sector Relative≤40%
Sector spread percentile 17% — much tighter than sector
Order Book Depth
≥100 contractsDepth 148.3 contracts (bid:73.4 ask:74.9) — adequate
Execution Quality
<1.0%Avg slippage 5.22% — poor
Timing
Is now a good time?
7.2
RiskyFavorable
Considers earnings proximity,
time decay
, and event calendar for optimal entry timing.Risk Checks6/9 checks passed
Term Structure Clarity
|slope| ≥5%Slope -7.7% — contango
IV Percentile Clarity
<30 or >70IV percentile 53% — neutral
Event Detection
≥10pts kinkIV kink 0.5pts — no clear event
Theta/Vega Clarity
<0.5 or >2.0θ/ν ratio 1150.10 — 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 +5% @ 52% consistency — unclear
Smart Money Timing
≥40 composite scoreScore 66 (ITM 20% + inst 36%) — HIGH institutional
Directional Strategy Fit
Option Buyers
Long Calls6.3
bullishIV cheap, mixed flow
Long Puts5.9
bearishIV cheap, mixed flow
Premium Sellers
Cash-Secured Put5.1
bullishIV too cheap, mixed flow
Covered Call4.6
bearishIV too cheap, mixed flow
For educational purposes only. Not investment advice.