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IDEFBlackRock ETF Trust iShares Defense Industrials and Tech Active ETF

Options Analysis Report
AUM $4.5B|NASDAQ
● 2026-08-31$33.30
VERY BEARISH
Analysis: 2026-08-28 EOD data
1Y +14.3%YTD +5.2%7D +0.6%
--
30D
±8.6%
4%

IDEF Options Overview

bearish flow. No clear edge detected.

REWARDS

RISK ANALYSIS

5.1VALUESENTIMENTACTIVITYLIQUIDITYTIMING

Snowflake Analysis

Balanced conditions with no clear edge

Learn
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IDEF Gamma Walls

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Value

Is IV priced right?

8.2
ExpensiveCheap

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

levels.

Risk Checks6/9 checks passed
≤35%

IV Rank 37.6% — elevated vs history

<1.05x

IV/HV 1.13x — IV premium over HV

Sector Relative≤50%

Sector percentile 58% — above sector median

<1.1x

Front/Back 1.00x — flat

<1.25x

Put/Call IV 1.16x — elevated

<80%

ATM IV 26.6% — normal range

<80%

Effective IV 28.7% (ATM 26.6% + spread 1.0% + bias) — excellent value

<3.0%

Total drag 1.03% (spread 1.03% + slippage 0.00%) — minimal drag

≥5.0

Vega efficiency 99.27 (vega 10.225 / spread 1.03%) — efficient

Sentiment

Bullish or bearish?

4.2
BearishBullish

Analyzes

,
, and flow direction to determine market bias.

Risk ChecksBalanced - Moderate signal (P/C: 1.00)
<0.65 or >1.55

P/C 1.00 — balanced (buy/sell unknown)

≥15%

|OI skew| 95.8% — put-heavy

Same sign, |vol skew| ≥10%

Vol skew +0.0%, OI skew -95.8% — weak (same direction)

≥2/3 conditions

0-DTE 0%, far-OTM 15%, avg DTE 30

|change| ≥3%

OI change +0.0% (5d) — stable

Sector Relative≤40% or ≥60%

Sector P/C percentile 27% — very bullish vs sector

Activity

Unusual activity?

2.7
QuietActive

Detects volume surges,

, and unusual options activity that may signal moves.

Risk Checks0/8 checks passed
≥1.5x

Volume 1.0x avg — normal

≥15%

Vol/OI 0.0% — normal turnover

≥2 days

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

≥5%

OI change +0.0% (5d) — stable

Sector Relative≥60%

Sector activity percentile 50% — neutral vs sector

≥30%

Large trade volume 0% — mostly retail

≥60%

Aggressive execution 0% — patient

≥30

Conviction +0 (neutral) — mixed

Liquidity

Can I trade efficiently?

4.5
IlliquidLiquid

Evaluates

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

Risk Checks3/8 checks passed
≤5.0%

Spread 1.0% — tight

≥10,000

OI 190 — thin

≥500

Volume 0/day — thin

≤$0.50

$0.05 to cross — cheap

≥5 strikes

0 liquid strikes — limited options

Sector Relative≤40%

Sector spread percentile 68% — wider than sector

≥100 contracts

Depth 0 contracts (bid:0 ask:0) — thin

<1.0%

Avg slippage 0.00% — excellent

Timing

Is now a good time?

5.8
RiskyFavorable

Considers earnings proximity,

, and event calendar for optimal entry timing.

Risk Checks4/9 checks passed
|slope| ≥5%

Slope +0.0% — flat/unclear

<30 or >70

IV percentile 38% — neutral

≥10pts kink

IV kink 0.0pts — no clear event

<0.5 or >2.0

θ/ν ratio 1440.14 — favors income trades

≥3 expirations

1 liquid expirations — limited

≥60% (safe)

safe window: No earnings detected

<1.2 ratio

Spread ratio 1.00x — stable

≥25% strength + ≥50% consistency

Flow +0% @ 50% consistency — unclear

≥40 composite score

Score 60 (ITM 20% + inst 30%) — HIGH institutional

Directional Strategy Fit

Option Buyers
Long Calls5.9
bullishIV cheap, mixed flow
Long Puts7.0
bearishIV cheap, mixed flow
Premium Sellers
Cash-Secured Put3.8
bullishIV too cheap, mixed flow
Covered Call4.3
bearishIV too cheap, mixed flow

For educational purposes only. Not investment advice.

The Options Desk tracks the move options price into every US earnings report the week of Aug 31, next to how much each stock has actually moved on its past prints — plus the SPY, QQQ and IWM expected ranges and the gamma walls that box them in.

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