KSSKohls Corporation
Options Analysis Report•RETAIL-DEPARTMENT STORES
Market Cap $1.3B|NYSE
● 2026-05-15$11.93
NEUTRAL
Analysis: 2026-05-14 EOD data
1Y +42.5%YTD -44.1%7D -17.7%
Options Vol
5,038
30D
Implied Move
±27.9%
IV Rank
39%
KSS Options Overview
IV is elevated. Conditions favor premium sellers.
REWARDS
RISK ANALYSIS
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Value
Is IV priced right?
2.3
ExpensiveCheap
Measures whether options are cheap, fair, or rich relative to historical and peer
IV
levels.Risk Checks2/9 checks passed
IV Rank
≤35%IV Rank 87.1% — elevated vs history
IV/HV Ratio
<1.05xIV/HV 1.35x — IV premium over HV
Sector Relative≤50%
Sector percentile 95% — above sector median
Term Structure
<1.1xFront/Back 1.02x — flat
Skew Normal
<1.25xPut/Call IV 1.16x — elevated
Absolute IV
<80%ATM IV 85.2% — crisis-level IV
Spread-Adjusted Value
<80%Effective IV 104.4% (ATM 85.2% + spread 9.6% + bias) — expensive
Execution Efficiency
<3.0%Total drag 14.96% (spread 9.61% + slippage 5.35%) — high friction
Vega Efficiency
≥5.0Vega efficiency 0.73 (vega 0.705 / spread 9.61%) — spread drag
Sentiment
Bullish or bearish?
5.8
BearishBullish
Analyzes
put/call ratios
, open interest skew
, and flow direction to determine market bias.Risk ChecksBullish - Weak signal (Conviction: +11%, Raw: +8%)
Flow Direction
|net sentiment| ≥25%Conviction-weighted: +11% (bullish) — Raw: +8%
OI Skew Magnitude
≥15%|OI skew| 2.8% — balanced
Volume-OI Alignment
Same sign, |vol skew| ≥10%Vol skew +13.1%, OI skew +2.8% — aligned
Conviction Quality
≥2/3 conditions0-DTE 37%, far-OTM 15%, avg DTE 30
OI Momentum
|change| ≥3%OI change +0.0% (5d) — stable
Smart Money Flow
|weighted flow| ≥20%ITM: -4%, ATM: +14%, OTM: +11% — neutral (ITM/ATM divergent)
Sector Relative≤40% or ≥60%
Sector P/C percentile 56% — bearish vs sector
Activity
Unusual activity?
3.4
QuietActive
Detects volume surges,
block trades
, and unusual options activity that may signal moves.Risk Checks1/9 checks passed
Volume Surge
≥1.5xVolume 0.6x avg — normal
Turnover Rate
≥15%Vol/OI 3.2% — normal 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 +8.9% (5d) — building
Sector Relative≥60%
Sector activity percentile 56% — neutral vs sector
Trade Quality
≥30%Large trade volume 16% — mixed
Execution Urgency
≥60%Aggressive execution 29% — patient
Flow Conviction
≥30Conviction +11 (bullish) — mixed
Liquidity
Can I trade efficiently?
4.1
IlliquidLiquid
Evaluates
bid-ask spreads
, volume depth, and open interest for trade execution quality.Risk Checks4/8 checks passed
Tradeable Spread
≤5.0%Spread 9.6% — wide
Adequate OI
≥10,000OI 156,188 — deep
Active Volume
≥500Volume 5,038/day — active
Reasonable Cost
≤$0.50$0.48 to cross — cheap
Strike Coverage
≥5 strikes0 liquid strikes — limited options
Sector Relative≤40%
Sector spread percentile 97% — much wider than sector
Order Book Depth
≥100 contractsDepth 391.2 contracts (bid:175.1 ask:216.1) — adequate
Execution Quality
<1.0%Avg slippage 5.35% — poor
Timing
Is now a good time?
6.8
RiskyFavorable
Considers earnings proximity,
time decay
, and event calendar for optimal entry timing.Risk Checks6/9 checks passed
Term Structure Clarity
|slope| ≥5%Slope +2.5% — flat/unclear
IV Percentile Clarity
<30 or >70IV percentile 87% — seller opportunity
Event Detection
≥10pts kinkIV kink -8.2pts — no clear event
Theta/Vega Clarity
<0.5 or >2.0θ/ν ratio 21.81 — favors income trades
Expiration Distribution
≥3 expirations5 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 +11% @ 56% consistency — unclear
Smart Money Timing
≥40 composite scoreScore 46 (ITM 20% + inst 16%) — moderate institutional
Directional Strategy Fit
Option Buyers
Long Calls4.5
bullishIV expensive, mixed flow
Long Puts3.9
bearishIV expensive, mixed flow
Premium Sellers
Cash-Secured Put6.2
bullishIV rich premium, mixed flow
Covered Call5.6
bearishIV rich premium, mixed flow
For educational purposes only. Not investment advice.