Options/IP

IPInternational Paper Co.

Options Analysis Report•PAPER MILLS

Market Cap $20.8B|NYSE

● 2026-08-31$39.31

NEUTRAL

Analysis: 2026-08-28 EOD data

1Y -20.1%YTD -2.3%7D -4.2%

Options Vol

2,275

30D

Implied Move

±9.7%

IV Rank

IP Options Overview

IV is elevated. Conditions favor premium sellers.

REWARDS

RISK ANALYSIS

Snowflake Analysis

Balanced conditions with no clear edge

Learn

Loading score history...

IP Gamma Walls

Loading gamma walls...

IP Hedge Radar

No action needed

Full Hedge Radar

Fragility reads low; protection is priced cheap. Neither axis is a forecast — this is where IP sits on protection cost vs. fragility today.

Protection is priced in the cheap band (2.72) — near-dated vol is priced 19% below far-dated, and implied vol sits in the 5th percentile of its own past year, measured against this name's own rolling 19-trading-day realized moves (485 overlapping windows). Fragility reads resilient (3.37): its realized-vol regime is contracting, and it is trading 1% above its hedge wall on a wall graded MEDIUM for reliability.

Protection cost

2.72/ 10cheap

Basis: cross_sectional

Fragility

3.37/ 10resilient

Basis: per_ticker

Value

Is IV priced right?

4.9

ExpensiveCheap

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

levels.

Risk Checks3/9 checks passed

IV Rank

≤35%

IV Rank 75.1% — elevated vs history

IV/HV Ratio

<1.05x

IV/HV 1.19x — IV premium over HV

Sector Relative≤50%

Sector percentile 83% — above sector median

Term Structure

<1.1x

Front/Back 0.81x — contango

Skew Normal

<1.25x

Put/Call IV 1.16x — elevated

Absolute IV

<80%

ATM IV 36.6% — normal range

Spread-Adjusted Value

<80%

Effective IV 96.0% (ATM 36.6% + spread 29.7% + bias) — expensive

Execution Efficiency

<3.0%

Total drag 40.79% (spread 29.72% + slippage 11.07%) — high friction

Vega Efficiency

≥5.0

Vega efficiency 0.24 (vega 0.710 / spread 29.72%) — spread drag

Sentiment

Bullish or bearish?

4.9

BearishBullish

Analyzes

put/call ratios

open interest skew

, and flow direction to determine market bias.

Risk ChecksVery Bullish - Strong signal (Conviction: +40%, Raw: +39%)

Flow Direction

|net sentiment| ≥25%

Conviction-weighted: +40% (strong bullish) — Raw: +39%

OI Skew Magnitude

≥15%

|OI skew| 13.7% — balanced

Volume-OI Alignment

Same sign, |vol skew| ≥10%

Vol skew -45.6%, OI skew -13.7% — aligned

Conviction Quality

≥2/3 conditions

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

OI Momentum

|change| ≥3%

OI change +0.0% (5d) — stable

Smart Money Flow

|weighted flow| ≥20%

ITM: +28%, ATM: +61%, OTM: +18% — strong bullish (ITM/ATM aligned)

Sector Relative≤40% or ≥60%

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

Activity

Unusual activity?

4.5

QuietActive

Detects volume surges,

block trades

, and unusual options activity that may signal moves.

Risk Checks2/8 checks passed

Volume Surge

≥1.5x

Volume 1.2x avg — normal

Turnover Rate

≥15%

Vol/OI 4.1% — normal turnover

Multi-Day Persistence

≥2 days

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

OI Build

≥5%

OI change +10.9% (5d) — building

Sector Relative≥60%

Sector activity percentile 48% — neutral vs sector

Trade Quality

≥30%

Large trade volume 0% — mostly retail

Execution Urgency

≥60%

Aggressive execution 23% — patient

Flow Conviction

≥30

Conviction +40 (bullish) — moderate

Liquidity

Can I trade efficiently?

3.0

IlliquidLiquid

Evaluates

bid-ask spreads

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

Risk Checks3/8 checks passed

Tradeable Spread

≤5.0%

Spread 29.7% — wide

Adequate OI

≥10,000

OI 55,542 — deep

Active Volume

≥500

Volume 2,275/day — adequate

Reasonable Cost

≤$0.50

$1.49 to cross — expensive

Strike Coverage

≥5 strikes

0 liquid strikes — limited options

Sector Relative≤40%

Sector spread percentile 84% — much wider than sector

Order Book Depth

≥100 contracts

Depth 298.6 contracts (bid:167.7 ask:130.9) — adequate

Execution Quality

<1.0%

Avg slippage 11.07% — poor

Timing

Is now a good time?

7.8

RiskyFavorable

Considers earnings proximity,

time decay

, and event calendar for optimal entry timing.

Risk Checks7/9 checks passed

Term Structure Clarity

|slope| ≥5%

Slope -19.3% — contango

IV Percentile Clarity

<30 or >70

IV percentile 75% — seller opportunity

Event Detection

≥10pts kink

IV kink -4.5pts — no clear event

Theta/Vega Clarity

<0.5 or >2.0

θ/ν ratio 6.76 — favors income trades

Expiration Distribution

≥3 expirations

5 liquid expirations — flexible

Event Risk

≥60% (safe)

safe window: No events detected

Spread Momentum

<1.2 ratio

Spread ratio 1.00x — stable

Flow Momentum

≥25% strength + ≥50% consistency

Flow +40% @ 70% consistency — STRONG directional (bullish)

Smart Money Timing

≥40 composite score

Score 30 (ITM 20% + inst 0%) — retail dominated

Directional Strategy Fit

Option Buyers

Long Calls5.1

bullishIV fair, mixed flow

Long Puts5.1

bearishIV fair, mixed flow

Premium Sellers

Cash-Secured Put5.0

bullishIV fair, mixed flow

Covered Call5.1

bearishIV fair, mixed flow

For educational purposes only. Not investment advice.

The Options Desk tracks the move options price into every US earnings report the week of Aug 31, next to how much each stock has actually moved on its past prints — plus the SPY, QQQ and IWM expected ranges and the gamma walls that box them in.

More on IP

IP gamma walls IP max pain IP IV rank IP options flow