AInvestOption Pilot Program
Options/ITB
I

ITBiShares U.S. Home Construction ETF

Options Analysis Report
AUM $2.4B|BATS
● 2026-08-31$96.41
NEUTRAL
Analysis: 2026-08-28 EOD data
1Y -12.5%YTD -1.1%7D -1.4%
789
30D
±7.7%
10%

ITB Options Overview

Mixed signals. No clear edge detected.

REWARDS

RISK ANALYSIS

4.8VALUESENTIMENTACTIVITYLIQUIDITYTIMING

Snowflake Analysis

Balanced conditions with no clear edge

Learn
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ITB Gamma Walls

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Value

Is IV priced right?

7.1
ExpensiveCheap

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

levels.

Risk Checks6/9 checks passed
≤35%

IV Rank 43.5% — elevated vs history

<1.05x

IV/HV 0.93x — IV ≤ HV

Sector Relative≤50%

Sector percentile 63% — above sector median

<1.1x

Front/Back 0.89x — contango

<1.25x

Put/Call IV 1.16x — elevated

<80%

ATM IV 29.0% — normal range

<80%

Effective IV 57.1% (ATM 29.0% + spread 14.1% + bias) — good value

<3.0%

Total drag 18.48% (spread 14.06% + slippage 4.42%) — high friction

≥5.0

Vega efficiency 9.78 (vega 13.744 / spread 14.06%) — efficient

Sentiment

Bullish or bearish?

3.6
BearishBullish

Analyzes

,
, and flow direction to determine market bias.

Risk ChecksVery Bearish - Strong signal (Conviction: -56%, Raw: -58%)
|net sentiment| ≥25%

Conviction-weighted: -56% (strong bearish) — Raw: -58%

≥15%

|OI skew| 20.4% — put-heavy

Same sign, |vol skew| ≥10%

Vol skew +45.2%, OI skew -20.4% — 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: +0%, ATM: -61%, OTM: -70% — bearish (ITM/ATM divergent)

Sector Relative≤40% or ≥60%

Sector P/C percentile 16% — very bullish vs sector

Activity

Unusual activity?

2.8
QuietActive

Detects volume surges,

, and unusual options activity that may signal moves.

Risk Checks1/8 checks passed
≥1.5x

Volume 0.7x avg — normal

≥15%

Vol/OI 1.5% — normal turnover

≥2 days

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

≥5%

OI change +2.5% (5d) — building

Sector Relative≥60%

Sector activity percentile 40% — below sector avg

≥30%

Large trade volume 0% — mostly retail

≥60%

Aggressive execution 24% — patient

≥30

Conviction -56 (bearish) — strong conviction

Liquidity

Can I trade efficiently?

3.0
IlliquidLiquid

Evaluates

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

Risk Checks3/8 checks passed
≤5.0%

Spread 14.1% — wide

≥10,000

OI 51,323 — deep

≥500

Volume 789/day — adequate

≤$0.50

$0.70 to cross — expensive

≥5 strikes

0 liquid strikes — limited options

Sector Relative≤40%

Sector spread percentile 72% — wider than sector

≥100 contracts

Depth 204.1 contracts (bid:92.1 ask:112.0) — adequate

<1.0%

Avg slippage 4.42% — poor

Timing

Is now a good time?

7.3
RiskyFavorable

Considers earnings proximity,

, and event calendar for optimal entry timing.

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

Slope -10.6% — contango

<30 or >70

IV percentile 44% — neutral

≥10pts kink

IV kink -2.4pts — no clear event

<0.5 or >2.0

θ/ν ratio 322.64 — 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 -56% @ 78% consistency — STRONG directional (bearish)

≥40 composite score

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

Directional Strategy Fit

Option Buyers
Long Calls5.3
bullishIV cheap, bearish flow
Long Puts6.3
bearishIV cheap, bearish flow
Premium Sellers
Cash-Secured Put3.8
bullishIV too cheap, bearish flow
Covered Call4.8
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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