ILMNIllumina Inc
Options Analysis Report•LABORATORY ANALYTICAL INSTRUMENTS
Market Cap $21.7B|NASDAQ
● 2026-05-15$143.24
BULLISH
Analysis: 2026-05-14 EOD data
1Y +77.1%YTD +6.6%7D +1.0%
Options Vol
6,982
30D
Implied Move
±8.6%
IV Rank
26%
ILMN Options Overview
unusual activity. No clear edge detected.
REWARDS
RISK ANALYSIS
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Value
Is IV priced right?
6.6
ExpensiveCheap
Measures whether options are cheap, fair, or rich relative to historical and peer
IV
levels.Risk Checks6/9 checks passed
IV Rank
≤35%IV Rank 59.4% — elevated vs history
IV/HV Ratio
<1.05xIV/HV 1.07x — IV premium over HV
Sector Relative≤50%
Sector percentile 33% — below sector median
Term Structure
<1.1xFront/Back 0.95x — contango
Skew Normal
<1.25xPut/Call IV 1.16x — elevated
Absolute IV
<80%ATM IV 49.1% — normal range
Spread-Adjusted Value
<80%Effective IV 75.9% (ATM 49.1% + spread 13.4% + bias) — fair
Execution Efficiency
<3.0%Total drag 23.32% (spread 13.42% + slippage 9.90%) — high friction
Vega Efficiency
≥5.0Vega efficiency 32.20 (vega 43.210 / spread 13.42%) — efficient
Sentiment
Bullish or bearish?
6.6
BearishBullish
Analyzes
put/call ratios
, open interest skew
, and flow direction to determine market bias.Risk ChecksNeutral - Strong signal (Conviction: +3%, Raw: -11%)
Flow Direction
|net sentiment| ≥25%Conviction-weighted: +3% (neutral) — Raw: -11%
OI Skew Magnitude
≥15%|OI skew| 35.9% — call-heavy
Volume-OI Alignment
Same sign, |vol skew| ≥10%Vol skew +63.2%, OI skew +35.9% — aligned
Conviction Quality
≥2/3 conditions0-DTE 42%, far-OTM 15%, avg DTE 30
OI Momentum
|change| ≥3%OI change +0.0% (5d) — stable
Smart Money Flow
|weighted flow| ≥20%ITM: -58%, ATM: -37%, OTM: -8% — strong bearish (ITM/ATM aligned)
Sector Relative≤40% or ≥60%
Sector P/C percentile 33% — bullish vs sector
Activity
Unusual activity?
6.6
QuietActive
Detects volume surges,
block trades
, and unusual options activity that may signal moves.Risk Checks4/9 checks passed
Volume Surge
≥1.5xVolume 5.7x avg — hot
Turnover Rate
≥15%Vol/OI 26.6% — high 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 +24.3% (5d) — building
Sector Relative≥60%
Sector activity percentile 97% — very active vs sector
Trade Quality
≥30%Large trade volume 11% — mostly retail
Execution Urgency
≥60%Aggressive execution 49% — patient
Flow Conviction
≥30Conviction +3 (bullish) — mixed
Liquidity
Can I trade efficiently?
3.3
IlliquidLiquid
Evaluates
bid-ask spreads
, volume depth, and open interest for trade execution quality.Risk Checks2/8 checks passed
Tradeable Spread
≤5.0%Spread 13.4% — wide
Adequate OI
≥10,000OI 26,264 — adequate
Active Volume
≥500Volume 6,982/day — active
Reasonable Cost
≤$0.50$0.67 to cross — expensive
Strike Coverage
≥5 strikes0 liquid strikes — limited options
Sector Relative≤40%
Sector spread percentile 72% — wider than sector
Order Book Depth
≥100 contractsDepth 62.8 contracts (bid:24.5 ask:38.3) — thin
Execution Quality
<1.0%Avg slippage 9.90% — poor
Timing
Is now a good time?
6.8
RiskyFavorable
Considers earnings proximity,
time decay
, and event calendar for optimal entry timing.Risk Checks5/9 checks passed
Term Structure Clarity
|slope| ≥5%Slope -4.6% — flat/unclear
IV Percentile Clarity
<30 or >70IV percentile 59% — neutral
Event Detection
≥10pts kinkIV kink -0.9pts — no clear event
Theta/Vega Clarity
<0.5 or >2.0θ/ν ratio 812.22 — favors income trades
Expiration Distribution
≥3 expirations3 liquid expirations — flexible
Event Risk
≥60% (safe)safe window: No earnings detected
Spread Momentum
<1.2 ratioSpread ratio 1.00x — stable
Flow Momentum
≥25% strength + ≥50% consistencyFlow +3% @ 52% consistency — unclear
Smart Money Timing
≥40 composite scoreScore 41 (ITM 20% + inst 11%) — moderate institutional
Directional Strategy Fit
Option Buyers
Long Calls6.1
bullishIV cheap, bullish flow
Long Puts5.0
bearishIV cheap, bullish flow
Premium Sellers
Cash-Secured Put5.0
bullishIV too cheap, bullish flow
Covered Call3.9
bearishIV too cheap, bullish flow
For educational purposes only. Not investment advice.