IV is low. Conditions favor option buyers.
Is IV priced right?
Measures whether options are cheap, fair, or rich relative to historical and peer
IV Rank 11.5% — cheap vs history
IV/HV 0.88x — IV ≤ HV
Sector percentile 17% — below sector median
Front/Back 0.99x — contango
Put/Call IV 1.16x — elevated
ATM IV 23.9% — normal range
Effective IV 249.4% (ATM 23.9% + spread 112.7% + bias) — expensive
Total drag 138.43% (spread 112.73% + slippage 25.70%) — high friction
Vega efficiency 1.87 (vega 21.078 / spread 112.73%) — spread drag
Bullish or bearish?
Analyzes
Conviction-weighted: -100% (strong bearish) — Raw: -100%
|OI skew| 45.1% — call-heavy
Vol skew +100.0%, OI skew +45.1% — aligned
0-DTE 100%, far-OTM 15%, avg DTE 30
OI change +0.0% (5d) — stable
ITM: +0%, ATM: -100%, OTM: +0% — strong bearish (ITM/ATM divergent)
Sector P/C percentile 50% — neutral vs sector
Unusual activity?
Detects volume surges,
Volume 0.1x avg — normal
Vol/OI 0.7% — normal turnover
Top 3 strikes = 50% — dispersed
1 day(s) elevated — may be one-day event
OI change +10.4% (5d) — building
Sector activity percentile 17% — quiet vs sector
Large trade volume 0% — mostly retail
Aggressive execution 50% — patient
Conviction -100 (bearish) — strong conviction
Can I trade efficiently?
Evaluates
Spread 112.7% — wide
OI 1,360 — thin
Volume 10/day — thin
$5.64 to cross — expensive
0 liquid strikes — limited options
Sector spread percentile 32% — tighter than sector
Depth 788.0 contracts (bid:324.0 ask:464.0) — deep
Avg slippage 25.70% — poor
Is now a good time?
Considers earnings proximity,
Slope -1.0% — flat/unclear
IV percentile 12% — buyer opportunity
IV kink -0.5pts — no clear event
θ/ν ratio 1064.57 — favors income trades
3 liquid expirations — flexible
safe window: No earnings detected
Spread ratio 1.00x — stable
Flow -100% @ 100% consistency — STRONG directional (bearish)
Score 30 (ITM 20% + inst 0%) — retail dominated
For educational purposes only. Not investment advice.