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Options/IONQ
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IONQIonQ, Inc.

Options Analysis Report•SERVICES-COMPUTER INTEGRATED SYSTEMS DESIGN
Market Cap $17.2B|NYSE
● 2026-08-28$42.46
NEUTRAL
Analysis: 2026-08-27 EOD data
1Y -1.9%YTD -9.2%7D -5.3%
55,582
30D
±21.9%
4%

IONQ Options Overview

IV is elevated with unusual activity. Conditions favor premium sellers.

REWARDS

RISK ANALYSIS

5.3VALUESENTIMENTACTIVITYLIQUIDITYTIMING

Snowflake Analysis

Favorable conditions for premium sellers

Learn
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IONQ Gamma Walls

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Value

Is IV priced right?

5.2
ExpensiveCheap

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

levels.

Risk Checks4/9 checks passed
≤35%

IV Rank 89.8% — elevated vs history

<1.05x

IV/HV 0.91x — IV ≤ HV

Sector Relative≤50%

Sector percentile 79% — above sector median

<1.1x

Front/Back 0.98x — contango

<1.25x

Put/Call IV 1.16x — elevated

<80%

ATM IV 77.0% — normal range

<80%

Effective IV 95.2% (ATM 77.0% + spread 9.1% + bias) — expensive

<3.0%

Total drag 12.40% (spread 9.11% + slippage 3.29%) — high friction

≥5.0

Vega efficiency 0.93 (vega 0.850 / spread 9.11%) — spread drag

Sentiment

Bullish or bearish?

6.3
BearishBullish

Analyzes

,
, and flow direction to determine market bias.

Risk ChecksNeutral - Weak signal (Conviction: +1%, Raw: +1%)
|net sentiment| ≥25%

Conviction-weighted: +1% (neutral) — Raw: +1%

≥15%

|OI skew| 5.7% — balanced

Same sign, |vol skew| ≥10%

Vol skew +36.6%, OI skew +5.7% — aligned

≥2/3 conditions

0-DTE 31%, far-OTM 15%, avg DTE 30

|change| ≥3%

OI change +0.0% (5d) — stable

|weighted flow| ≥20%

ITM: +9%, ATM: -28%, OTM: +10% — neutral (ITM/ATM divergent)

Sector Relative≤40% or ≥60%

Sector P/C percentile 51% — neutral vs sector

Activity

Unusual activity?

3.3
QuietActive

Detects volume surges,

, and unusual options activity that may signal moves.

Risk Checks1/8 checks passed
≥1.5x

Volume 0.8x avg — normal

≥15%

Vol/OI 8.3% — normal turnover

≥2 days

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

≥5%

OI change -14.3% (5d) — unwinding

Sector Relative≥60%

Sector activity percentile 77% — active vs sector

≥30%

Large trade volume 17% — mixed

≥60%

Aggressive execution 26% — patient

≥30

Conviction +1 (bullish) — mixed

Liquidity

Can I trade efficiently?

4.8
IlliquidLiquid

Evaluates

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

Risk Checks4/8 checks passed
≤5.0%

Spread 9.1% — wide

≥10,000

OI 670,635 — deep

≥500

Volume 55,582/day — active

≤$0.50

$0.46 to cross — cheap

≥5 strikes

0 liquid strikes — limited options

Sector Relative≤40%

Sector spread percentile 87% — much wider than sector

≥100 contracts

Depth 192.4 contracts (bid:101.4 ask:91.0) — adequate

<1.0%

Avg slippage 3.29% — poor

Timing

Is now a good time?

6.8
RiskyFavorable

Considers earnings proximity,

, and event calendar for optimal entry timing.

Risk Checks6/9 checks passed
|slope| ≥5%

Slope -1.8% — flat/unclear

<30 or >70

IV percentile 90% — seller opportunity

≥10pts kink

IV kink -0.5pts — no clear event

<0.5 or >2.0

θ/ν ratio 2.57 — 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 +1% @ 51% consistency — unclear

≥40 composite score

Score 47 (ITM 20% + inst 17%) — moderate institutional

Directional Strategy Fit

Option Buyers
Long Calls5.8
bullishIV fair, bullish flow
Long Puts4.8
bearishIV fair, bullish flow
Premium Sellers
Cash-Secured Put5.7
bullishIV fair, bullish flow
Covered Call4.7
bearishIV fair, bullish flow

For educational purposes only. Not investment advice.