AInvestOption Pilot Program
Options/IHI
I

IHIiShares U.S. Medical Devices ETF

Options Analysis Report
AUM $3.5B|ARCX
● 2026-08-28$54.62
NEUTRAL
Analysis: 2026-08-27 EOD data
1Y -11.8%YTD -11.7%7D -2.8%
704
30D
±6.2%
23%

IHI Options Overview

IV is low. Conditions favor option buyers.

REWARDS

RISK ANALYSIS

5.4VALUESENTIMENTACTIVITYLIQUIDITYTIMING

Snowflake Analysis

Favorable conditions for option buyers

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IHI Gamma Walls

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Value

Is IV priced right?

7.3
ExpensiveCheap

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

levels.

Risk Checks5/9 checks passed
≤35%

IV Rank 28.6% — cheap vs history

<1.05x

IV/HV 1.14x — IV premium over HV

Sector Relative≤50%

Sector percentile 47% — below sector median

<1.1x

Front/Back 0.90x — contango

<1.25x

Put/Call IV 1.16x — elevated

<80%

ATM IV 23.3% — normal range

<80%

Effective IV 80.5% (ATM 23.3% + spread 28.6% + bias) — expensive

<3.0%

Total drag 35.50% (spread 28.62% + slippage 6.88%) — high friction

≥5.0

Vega efficiency 4.60 (vega 13.177 / spread 28.62%) — spread drag

Sentiment

Bullish or bearish?

6.3
BearishBullish

Analyzes

,
, and flow direction to determine market bias.

Risk ChecksVery Bullish - Strong signal (Conviction: +79%, Raw: +74%)
|net sentiment| ≥25%

Conviction-weighted: +79% (strong bullish) — Raw: +74%

≥15%

|OI skew| 55.6% — put-heavy

Same sign, |vol skew| ≥10%

Vol skew -57.4%, OI skew -55.6% — aligned

≥2/3 conditions

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

|change| ≥3%

OI change +0.0% (5d) — stable

|weighted flow| ≥20%

ITM: +56%, ATM: +84%, OTM: +16% — strong bullish (ITM/ATM aligned)

Sector Relative≤40% or ≥60%

Sector P/C percentile 96% — very bearish vs sector

Activity

Unusual activity?

3.1
QuietActive

Detects volume surges,

, and unusual options activity that may signal moves.

Risk Checks2/8 checks passed
≥1.5x

Volume 0.1x avg — normal

≥15%

Vol/OI 0.4% — normal turnover

≥2 days

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

≥5%

OI change -7.6% (5d) — unwinding

Sector Relative≥60%

Sector activity percentile 12% — quiet vs sector

≥30%

Large trade volume 51% — heavy institutional

≥60%

Aggressive execution 51% — patient

≥30

Conviction +79 (bullish) — strong conviction

Liquidity

Can I trade efficiently?

3.1
IlliquidLiquid

Evaluates

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

Risk Checks3/8 checks passed
≤5.0%

Spread 28.6% — wide

≥10,000

OI 183,334 — deep

≥500

Volume 704/day — adequate

≤$0.50

$1.43 to cross — expensive

≥5 strikes

0 liquid strikes — limited options

Sector Relative≤40%

Sector spread percentile 60% — wider than sector

≥100 contracts

Depth 153.1 contracts (bid:69.3 ask:83.8) — adequate

<1.0%

Avg slippage 6.88% — poor

Timing

Is now a good time?

7.4
RiskyFavorable

Considers earnings proximity,

, and event calendar for optimal entry timing.

Risk Checks8/9 checks passed
|slope| ≥5%

Slope -10.0% — contango

<30 or >70

IV percentile 29% — buyer opportunity

≥10pts kink

IV kink -1.7pts — no clear event

<0.5 or >2.0

θ/ν ratio 934.52 — favors income trades

≥3 expirations

3 liquid expirations — flexible

≥60% (safe)

safe window: No earnings detected

<1.2 ratio

Spread ratio 1.00x — stable

≥25% strength + ≥50% consistency

Flow +79% @ 90% consistency — STRONG directional (bullish)

≥40 composite score

Score 81 (ITM 20% + inst 51%) — HIGH institutional

Directional Strategy Fit

Option Buyers
Long Calls6.3
bullishIV cheap, bullish flow
Long Puts5.4
bearishIV cheap, bullish flow
Premium Sellers
Cash-Secured Put4.7
bullishIV too cheap, bullish flow
Covered Call3.9
bearishIV too cheap, bullish flow

For educational purposes only. Not investment advice.