INSMInsmed, Inc.
Options Analysis Report•PHARMACEUTICAL PREPARATIONS
Market Cap $25.1B|NASDAQ
● 2026-05-15$115.62
NEUTRAL
Analysis: 2026-05-14 EOD data
1Y +72.0%YTD -34.7%7D +14.1%
Options Vol
998
30D
Implied Move
±8.6%
IV Rank
43%
INSM Options Overview
IV is elevated. No clear edge detected.
REWARDS
RISK ANALYSIS
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Value
Is IV priced right?
6.5
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 70.8% — elevated vs history
IV/HV Ratio
<1.05xIV/HV 0.53x — IV ≤ HV
Sector Relative≤50%
Sector percentile 45% — below sector median
Term Structure
<1.1xFront/Back 0.86x — contango
Skew Normal
<1.25xPut/Call IV 1.16x — elevated
Absolute IV
<80%ATM IV 58.4% — normal range
Spread-Adjusted Value
<80%Effective IV 79.2% (ATM 58.4% + spread 10.4% + bias) — fair
Execution Efficiency
<3.0%Total drag 14.54% (spread 10.41% + slippage 4.13%) — high friction
Vega Efficiency
≥5.0Vega efficiency 30.81 (vega 32.069 / spread 10.41%) — efficient
Sentiment
Bullish or bearish?
5.1
BearishBullish
Analyzes
put/call ratios
, open interest skew
, and flow direction to determine market bias.Risk ChecksBearish - Strong signal (Conviction: -19%, Raw: -12%)
Flow Direction
|net sentiment| ≥25%Conviction-weighted: -19% (bearish) — Raw: -12%
OI Skew Magnitude
≥15%|OI skew| 28.0% — call-heavy
Volume-OI Alignment
Same sign, |vol skew| ≥10%Vol skew +7.8%, OI skew +28.0% — weak (same direction)
Conviction Quality
≥2/3 conditions0-DTE 21%, far-OTM 15%, avg DTE 30
OI Momentum
|change| ≥3%OI change +0.0% (5d) — stable
Smart Money Flow
|weighted flow| ≥20%ITM: -43%, ATM: -19%, OTM: +1% — strong bearish (ITM/ATM aligned)
Sector Relative≤40% or ≥60%
Sector P/C percentile 62% — bearish vs sector
Activity
Unusual activity?
2.9
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 1.0% — 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 +26.8% (5d) — building
Sector Relative≥60%
Sector activity percentile 33% — below sector avg
Trade Quality
≥30%Large trade volume 0% — mostly retail
Execution Urgency
≥60%Aggressive execution 51% — patient
Flow Conviction
≥30Conviction -19 (bearish) — mixed
Liquidity
Can I trade efficiently?
3.7
IlliquidLiquid
Evaluates
bid-ask spreads
, volume depth, and open interest for trade execution quality.Risk Checks2/8 checks passed
Tradeable Spread
≤5.0%Spread 10.4% — wide
Adequate OI
≥10,000OI 102,870 — deep
Active Volume
≥500Volume 998/day — adequate
Reasonable Cost
≤$0.50$0.52 to cross — expensive
Strike Coverage
≥5 strikes0 liquid strikes — limited options
Sector Relative≤40%
Sector spread percentile 78% — wider than sector
Order Book Depth
≥100 contractsDepth 84.7 contracts (bid:55.7 ask:29.0) — thin
Execution Quality
<1.0%Avg slippage 4.13% — poor
Timing
Is now a good time?
7.0
RiskyFavorable
Considers earnings proximity,
time decay
, and event calendar for optimal entry timing.Risk Checks6/9 checks passed
Term Structure Clarity
|slope| ≥5%Slope -14.0% — contango
IV Percentile Clarity
<30 or >70IV percentile 71% — seller opportunity
Event Detection
≥10pts kinkIV kink -4.1pts — no clear event
Theta/Vega Clarity
<0.5 or >2.0θ/ν ratio 577.82 — 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 -19% @ 59% consistency — unclear
Smart Money Timing
≥40 composite scoreScore 30 (ITM 20% + inst 0%) — retail dominated
Directional Strategy Fit
Option Buyers
Long Calls5.6
bullishIV cheap, mixed flow
Long Puts5.6
bearishIV cheap, mixed flow
Premium Sellers
Cash-Secured Put4.6
bullishIV too cheap, mixed flow
Covered Call4.6
bearishIV too cheap, mixed flow
For educational purposes only. Not investment advice.