KRYSKrystal Biotech, Inc. Common Stock
Options Analysis Report•BIOLOGICAL PRODUCTS, (NO DIAGNOSTIC SUBSTANCES)
Market Cap $9.3B|NASDAQ
● 2026-05-15$316.30
BULLISH
Analysis: 2026-05-14 EOD data
1Y +142.7%YTD +28.1%7D +3.5%
Options Vol
3,145
30D
Implied Move
±8.6%
IV Rank
2%
KRYS Options Overview
bullish flow with unusual activity. No clear edge detected.
REWARDS
RISK ANALYSIS
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Value
Is IV priced right?
7.5
ExpensiveCheap
Measures whether options are cheap, fair, or rich relative to historical and peer
IV
levels.Risk Checks5/9 checks passed
IV Rank
≤35%IV Rank 51.6% — elevated vs history
IV/HV Ratio
<1.05xIV/HV 1.13x — IV premium over HV
Sector Relative≤50%
Sector percentile 29% — below sector median
Term Structure
<1.1xFront/Back 0.86x — contango
Skew Normal
<1.25xPut/Call IV 1.16x — elevated
Absolute IV
<80%ATM IV 44.0% — normal range
Spread-Adjusted Value
<80%Effective IV 71.8% (ATM 44.0% + spread 13.9% + bias) — fair
Execution Efficiency
<3.0%Total drag 25.30% (spread 13.90% + slippage 11.40%) — high friction
Vega Efficiency
≥5.0Vega efficiency 4.40 (vega 6.113 / spread 13.90%) — spread drag
Sentiment
Bullish or bearish?
4.5
BearishBullish
Analyzes
put/call ratios
, open interest skew
, and flow direction to determine market bias.Risk ChecksVery Bearish - Strong signal (Conviction: -57%, Raw: -34%)
Flow Direction
|net sentiment| ≥25%Conviction-weighted: -57% (strong bearish) — Raw: -34%
OI Skew Magnitude
≥15%|OI skew| 26.3% — call-heavy
Volume-OI Alignment
Same sign, |vol skew| ≥10%Vol skew +99.1%, OI skew +26.3% — aligned
Conviction Quality
≥2/3 conditions0-DTE 51%, far-OTM 15%, avg DTE 30
OI Momentum
|change| ≥3%OI change +0.0% (5d) — stable
Smart Money Flow
|weighted flow| ≥20%ITM: +28%, ATM: -99%, OTM: -46% — bearish (ITM/ATM divergent)
Sector Relative≤40% or ≥60%
Sector P/C percentile 2% — very bullish vs sector
Activity
Unusual activity?
7.7
QuietActive
Detects volume surges,
block trades
, and unusual options activity that may signal moves.Risk Checks6/9 checks passed
Volume Surge
≥1.5xVolume 6.9x avg — hot
Turnover Rate
≥15%Vol/OI 44.7% — high 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 +12.0% (5d) — building
Sector Relative≥60%
Sector activity percentile 99% — very active vs sector
Trade Quality
≥30%Large trade volume 97% — heavy institutional
Execution Urgency
≥60%Aggressive execution 42% — patient
Flow Conviction
≥30Conviction -57 (bearish) — strong conviction
Liquidity
Can I trade efficiently?
2.8
IlliquidLiquid
Evaluates
bid-ask spreads
, volume depth, and open interest for trade execution quality.Risk Checks1/8 checks passed
Tradeable Spread
≤5.0%Spread 13.9% — wide
Adequate OI
≥10,000OI 7,030 — thin
Active Volume
≥500Volume 3,145/day — adequate
Reasonable Cost
≤$0.50$0.70 to cross — expensive
Strike Coverage
≥5 strikes0 liquid strikes — limited options
Sector Relative≤40%
Sector spread percentile 71% — wider than sector
Order Book Depth
≥100 contractsDepth 19.799999999999997 contracts (bid:10.6 ask:9.2) — thin
Execution Quality
<1.0%Avg slippage 11.40% — poor
Timing
Is now a good time?
7.2
RiskyFavorable
Considers earnings proximity,
time decay
, and event calendar for optimal entry timing.Risk Checks7/9 checks passed
Term Structure Clarity
|slope| ≥5%Slope -13.6% — contango
IV Percentile Clarity
<30 or >70IV percentile 52% — neutral
Event Detection
≥10pts kinkIV kink -2.8pts — no clear event
Theta/Vega Clarity
<0.5 or >2.0θ/ν ratio 3.68 — favors income trades
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 -57% @ 78% consistency — STRONG directional (bearish)
Smart Money Timing
≥40 composite scoreScore 127 (ITM 20% + inst 97%) — HIGH institutional
Directional Strategy Fit
Option Buyers
Long Calls5.7
bullishIV cheap, mixed flow
Long Puts6.0
bearishIV cheap, mixed flow
Premium Sellers
Cash-Secured Put3.9
bullishIV too cheap, mixed flow
Covered Call4.3
bearishIV too cheap, mixed flow
For educational purposes only. Not investment advice.