unusual activity. No clear edge detected.
Is IV priced right?
Measures whether options are cheap, fair, or rich relative to historical and peer
IV Rank 53.7% — elevated vs history
IV/HV 1.25x — IV premium over HV
Sector percentile 66% — above sector median
Front/Back 1.28x — backwardation
Put/Call IV 1.16x — elevated
ATM IV 45.2% — normal range
Effective IV 104.4% (ATM 45.2% + spread 29.6% + bias) — expensive
Total drag 40.40% (spread 29.62% + slippage 10.78%) — high friction
Vega efficiency 0.71 (vega 2.096 / spread 29.62%) — spread drag
Bullish or bearish?
Analyzes
Conviction-weighted: +68% (strong bullish) — Raw: +46%
|OI skew| 57.0% — put-heavy
Vol skew -5.3%, OI skew -57.0% — weak (same direction)
0-DTE 49%, far-OTM 15%, avg DTE 30
OI change +0.0% (5d) — stable
ITM: +30%, ATM: +93%, OTM: +2% — strong bullish (ITM/ATM aligned)
Sector P/C percentile 87% — very bearish vs sector
Unusual activity?
Detects volume surges,
Volume 1.7x avg — elevated
Vol/OI 10.4% — normal turnover
Top 3 strikes = 50% — dispersed
1 day(s) elevated — may be one-day event
OI change +10.9% (5d) — building
Sector activity percentile 83% — very active vs sector
Large trade volume 91% — heavy institutional
Aggressive execution 32% — patient
Conviction +68 (bullish) — strong conviction
Can I trade efficiently?
Evaluates
Spread 29.6% — wide
OI 344,440 — deep
Volume 35,953/day — active
$1.48 to cross — expensive
0 liquid strikes — limited options
Sector spread percentile 72% — wider than sector
Depth 802.1 contracts (bid:374.3 ask:427.8) — deep
Avg slippage 10.78% — poor
Is now a good time?
Considers earnings proximity,
Slope +28.3% — backwardation
IV percentile 54% — neutral
IV kink 7.0pts — no clear event
θ/ν ratio 60.59 — favors income trades
5 liquid expirations — flexible
safe window: No earnings detected
Spread ratio 1.00x — stable
Flow +68% @ 84% consistency — STRONG directional (bullish)
Score 121 (ITM 20% + inst 91%) — HIGH institutional
For educational purposes only. Not investment advice.