IRDMIridium Communications Inc.
Options Analysis Report•COMMUNICATIONS SERVICES, NEC
Market Cap $5.5B|NASDAQ
● 2026-05-29$51.78
BULLISH
Analysis: 2026-05-28 EOD data
1Y +103.9%YTD +191.6%7D +6.0%
Options Vol
1,887
30D
Implied Move
±22.2%
IV Rank
86%
IRDM Options Overview
bullish flow with unusual activity. Conditions favor option buyers.
REWARDS
RISK ANALYSIS
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Value
Is IV priced right?
4.9
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 50.0% — elevated vs history
IV/HV Ratio
<1.05xIV/HV 1.00x — IV ≤ HV
Sector Relative≤50%
Sector percentile 50% — below sector median
Term Structure
<1.1xFront/Back 1.02x — flat
Skew Normal
<1.25xPut/Call IV 1.00x — normal
Absolute IV
<80%ATM IV 0.0% — normal range
Spread-Adjusted Value
<80%Effective IV 14.9% (ATM 0.0% + spread 7.5% + bias) — excellent value
Execution Efficiency
<3.0%Total drag 10.88% (spread 7.45% + slippage 3.43%) — high friction
Vega Efficiency
≥5.0Vega efficiency 0.00 (vega 0.000 / spread 7.45%) — spread drag
Sentiment
Bullish or bearish?
5.3
BearishBullish
Analyzes
put/call ratios
, open interest skew
, and flow direction to determine market bias.Risk ChecksVery Bearish - Strong signal (Conviction: -34%, Raw: -40%)
Flow Direction
|net sentiment| ≥25%Conviction-weighted: -34% (strong bearish) — Raw: -40%
OI Skew Magnitude
≥15%|OI skew| 58.6% — call-heavy
Volume-OI Alignment
Same sign, |vol skew| ≥10%Vol skew +64.4%, OI skew +58.6% — aligned
Conviction Quality
≥2/3 conditions0-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: -12%, ATM: -22%, OTM: -56% — bearish (ITM/ATM aligned)
Sector Relative≤40% or ≥60%
Sector P/C percentile 28% — very bullish vs sector
Activity
Unusual activity?
4.2
QuietActive
Detects volume surges,
block trades
, and unusual options activity that may signal moves.Risk Checks3/9 checks passed
Volume Surge
≥1.5xVolume 0.5x avg — normal
Turnover Rate
≥15%Vol/OI 4.7% — 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 +8.3% (5d) — building
Sector Relative≥60%
Sector activity percentile 74% — active vs sector
Trade Quality
≥30%Large trade volume 11% — mostly retail
Execution Urgency
≥60%Aggressive execution 48% — patient
Flow Conviction
≥30Conviction -34 (bearish) — moderate
Liquidity
Can I trade efficiently?
4.7
IlliquidLiquid
Evaluates
bid-ask spreads
, volume depth, and open interest for trade execution quality.Risk Checks4/8 checks passed
Tradeable Spread
≤5.0%Spread 7.5% — wide
Adequate OI
≥10,000OI 40,232 — adequate
Active Volume
≥500Volume 1,887/day — adequate
Reasonable Cost
≤$0.50$0.37 to cross — cheap
Strike Coverage
≥5 strikes0 liquid strikes — limited options
Sector Relative≤40%
Sector spread percentile 0% — much tighter than sector
Order Book Depth
≥100 contractsDepth 97.6 contracts (bid:65.1 ask:32.5) — thin
Execution Quality
<1.0%Avg slippage 3.43% — poor
Timing
Is now a good time?
6.7
RiskyFavorable
Considers earnings proximity,
time decay
, and event calendar for optimal entry timing.Risk Checks5/9 checks passed
Term Structure Clarity
|slope| ≥5%Slope +2.4% — flat/unclear
IV Percentile Clarity
<30 or >70IV percentile 50% — neutral
Event Detection
≥10pts kinkIV kink 0.5pts — no clear event
Theta/Vega Clarity
<0.5 or >2.0θ/ν ratio 1.00 — favors mixed
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 -34% @ 67% consistency — moderate (bearish)
Smart Money Timing
≥40 composite scoreScore 41 (ITM 20% + inst 11%) — moderate institutional
Directional Strategy Fit
Option Buyers
Long Calls5.3
bullishIV fair, mixed flow
Long Puts5.1
bearishIV fair, mixed flow
Premium Sellers
Cash-Secured Put5.3
bullishIV fair, mixed flow
Covered Call5.1
bearishIV fair, mixed flow
For educational purposes only. Not investment advice.