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Options Analysis Report•SERVICES-MANAGEMENT SERVICES
Market Cap $12.5B|NYSE
● 2026-08-31$198.39
NEUTRAL
Analysis: 2026-08-28 EOD data
1Y -20.9%YTD -16.3%7D -2.2%
217
30D
±13.0%
6%

IT Options Overview

IV is elevated. Conditions favor premium sellers.

REWARDS

RISK ANALYSIS

4.8VALUESENTIMENTACTIVITYLIQUIDITYTIMING

Snowflake Analysis

Favorable conditions for premium sellers

Learn
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IT Gamma Walls

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Value

Is IV priced right?

6.7
ExpensiveCheap

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

levels.

Risk Checks6/9 checks passed
≤35%

IV Rank 91.4% — elevated vs history

<1.05x

IV/HV 0.59x — IV ≤ HV

Sector Relative≤50%

Sector percentile 67% — above sector median

<1.1x

Front/Back 0.91x — contango

<1.25x

Put/Call IV 1.16x — elevated

<80%

ATM IV 47.8% — normal range

<80%

Effective IV 71.2% (ATM 47.8% + spread 11.7% + bias) — fair

<3.0%

Total drag 17.01% (spread 11.70% + slippage 5.31%) — high friction

≥5.0

Vega efficiency 36.42 (vega 42.609 / spread 11.70%) — efficient

Sentiment

Bullish or bearish?

3.5
BearishBullish

Analyzes

,
, and flow direction to determine market bias.

Risk ChecksVery Bearish - Moderate signal (Conviction: -49%, Raw: -38%)
|net sentiment| ≥25%

Conviction-weighted: -49% (strong bearish) — Raw: -38%

≥15%

|OI skew| 3.0% — balanced

Same sign, |vol skew| ≥10%

Vol skew -9.7%, OI skew +3.0% — divergent (opposite)

≥2/3 conditions

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

|change| ≥3%

OI change +0.0% (5d) — stable

|weighted flow| ≥20%

ITM: -60%, ATM: -71%, OTM: +0% — strong bearish (ITM/ATM aligned)

Sector Relative≤40% or ≥60%

Sector P/C percentile 79% — very bearish vs sector

Activity

Unusual activity?

3.3
QuietActive

Detects volume surges,

, and unusual options activity that may signal moves.

Risk Checks2/8 checks passed
≥1.5x

Volume 0.3x avg — normal

≥15%

Vol/OI 1.1% — normal turnover

≥2 days

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

≥5%

OI change +28.1% (5d) — building

Sector Relative≥60%

Sector activity percentile 9% — quiet vs sector

≥30%

Large trade volume 0% — mostly retail

≥60%

Aggressive execution 49% — patient

≥30

Conviction -49 (bearish) — moderate

Liquidity

Can I trade efficiently?

3.0
IlliquidLiquid

Evaluates

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

Risk Checks1/8 checks passed
≤5.0%

Spread 11.7% — wide

≥10,000

OI 18,874 — adequate

≥500

Volume 217/day — thin

≤$0.50

$0.58 to cross — expensive

≥5 strikes

0 liquid strikes — limited options

Sector Relative≤40%

Sector spread percentile 67% — wider than sector

≥100 contracts

Depth 34.5 contracts (bid:17.0 ask:17.5) — thin

<1.0%

Avg slippage 5.31% — poor

Timing

Is now a good time?

7.5
RiskyFavorable

Considers earnings proximity,

, and event calendar for optimal entry timing.

Risk Checks7/9 checks passed
|slope| ≥5%

Slope -9.0% — contango

<30 or >70

IV percentile 91% — seller opportunity

≥10pts kink

IV kink -2.7pts — no clear event

<0.5 or >2.0

θ/ν ratio 390.91 — favors income trades

≥3 expirations

3 liquid expirations — flexible

≥60% (safe)

safe window: No events detected

<1.2 ratio

Spread ratio 1.00x — stable

≥25% strength + ≥50% consistency

Flow -49% @ 74% consistency — STRONG directional (bearish)

≥40 composite score

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

Directional Strategy Fit

Option Buyers
Long Calls5.1
bullishIV cheap, bearish flow
Long Puts6.2
bearishIV cheap, bearish flow
Premium Sellers
Cash-Secured Put4.0
bullishIV too cheap, bearish flow
Covered Call5.0
bearishIV too cheap, bearish 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.

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