IMOImperial Oil Limited
Options Analysis Report•PETROLEUM REFINING
Market Cap $64.0B|XASE
● 2026-05-15$132.39
BULLISH
Analysis: 2026-05-14 EOD data
1Y +83.0%YTD +48.6%7D +4.3%
Options Vol
28
30D
Implied Move
±8.6%
IV Rank
6%
IMO Options Overview
Mixed signals. 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 Checks5/9 checks passed
IV Rank
≤35%IV Rank 41.9% — elevated vs history
IV/HV Ratio
<1.05xIV/HV 1.13x — IV premium over HV
Sector Relative≤50%
Sector percentile 32% — below sector median
Term Structure
<1.1xFront/Back 0.96x — contango
Skew Normal
<1.25xPut/Call IV 1.16x — elevated
Absolute IV
<80%ATM IV 38.5% — normal range
Spread-Adjusted Value
<80%Effective IV 98.1% (ATM 38.5% + spread 29.8% + bias) — expensive
Execution Efficiency
<3.0%Total drag 38.33% (spread 29.81% + slippage 8.52%) — high friction
Vega Efficiency
≥5.0Vega efficiency 8.95 (vega 26.684 / spread 29.81%) — efficient
Sentiment
Bullish or bearish?
6.6
BearishBullish
Analyzes
put/call ratios
, open interest skew
, and flow direction to determine market bias.Risk ChecksNeutral - Moderate signal (Conviction: +3%, Raw: -4%)
Flow Direction
|net sentiment| ≥25%Conviction-weighted: +3% (neutral) — Raw: -4%
OI Skew Magnitude
≥15%|OI skew| 32.4% — call-heavy
Volume-OI Alignment
Same sign, |vol skew| ≥10%Vol skew +42.9%, OI skew +32.4% — aligned
Conviction Quality
≥2/3 conditions0-DTE 43%, far-OTM 15%, avg DTE 30
OI Momentum
|change| ≥3%OI change +0.0% (5d) — stable
Smart Money Flow
|weighted flow| ≥20%ITM: +0%, ATM: +22%, OTM: -100% — neutral (ITM/ATM divergent)
Sector Relative≤40% or ≥60%
Sector P/C percentile 61% — bearish vs sector
Activity
Unusual activity?
2.5
QuietActive
Detects volume surges,
block trades
, and unusual options activity that may signal moves.Risk Checks1/9 checks passed
Volume Surge
≥1.5xVolume 0.2x avg — normal
Turnover Rate
≥15%Vol/OI 0.7% — 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 -0.5% (5d) — stable
Sector Relative≥60%
Sector activity percentile 11% — quiet vs sector
Trade Quality
≥30%Large trade volume 0% — mostly retail
Execution Urgency
≥60%Aggressive execution 65% — urgent
Flow Conviction
≥30Conviction +3 (bullish) — mixed
Liquidity
Can I trade efficiently?
2.3
IlliquidLiquid
Evaluates
bid-ask spreads
, volume depth, and open interest for trade execution quality.Risk Checks0/8 checks passed
Tradeable Spread
≤5.0%Spread 29.8% — wide
Adequate OI
≥10,000OI 4,185 — thin
Active Volume
≥500Volume 28/day — thin
Reasonable Cost
≤$0.50$1.49 to cross — expensive
Strike Coverage
≥5 strikes0 liquid strikes — limited options
Sector Relative≤40%
Sector spread percentile 61% — wider than sector
Order Book Depth
≥100 contractsDepth 38.1 contracts (bid:12.5 ask:25.6) — thin
Execution Quality
<1.0%Avg slippage 8.52% — poor
Timing
Is now a good time?
6.6
RiskyFavorable
Considers earnings proximity,
time decay
, and event calendar for optimal entry timing.Risk Checks4/9 checks passed
Term Structure Clarity
|slope| ≥5%Slope -4.2% — flat/unclear
IV Percentile Clarity
<30 or >70IV percentile 42% — neutral
Event Detection
≥10pts kinkIV kink 0.3pts — no clear event
Theta/Vega Clarity
<0.5 or >2.0θ/ν ratio 508.27 — 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% @ 50% consistency — unclear
Smart Money Timing
≥40 composite scoreScore 30 (ITM 20% + inst 0%) — retail dominated
Directional Strategy Fit
Option Buyers
Long Calls6.1
bullishIV cheap, bullish flow
Long Puts5.0
bearishIV cheap, bullish flow
Premium Sellers
Cash-Secured Put4.7
bullishIV too cheap, bullish flow
Covered Call3.5
bearishIV too cheap, bullish flow
For educational purposes only. Not investment advice.