KSSKohls Corporation
KSS Options Overview
IV is elevated with bullish flow and unusual activity. Conditions favor premium sellers.
REWARDS
RISK ANALYSIS
KSS Gamma Walls
Value
Is IV priced right?
Measures whether options are cheap, fair, or rich relative to historical and peer
IV Rank 81.4% — elevated vs history
IV/HV 1.03x — IV ≤ HV
Sector percentile 86% — above sector median
Front/Back 0.94x — contango
Put/Call IV 1.16x — elevated
ATM IV 60.5% — normal range
Effective IV 78.9% (ATM 60.5% + spread 9.2% + bias) — fair
Total drag 13.15% (spread 9.22% + slippage 3.93%) — high friction
Vega efficiency 1.79 (vega 1.646 / spread 9.22%) — spread drag
Sentiment
Bullish or bearish?
Analyzes
Conviction-weighted: +29% (bullish) — Raw: +21%
|OI skew| 2.4% — balanced
Vol skew +39.9%, OI skew -2.4% — divergent (opposite)
0-DTE 12%, far-OTM 15%, avg DTE 30
OI change +0.0% (5d) — stable
ITM: +22%, ATM: +4%, OTM: +35% — bullish (ITM/ATM aligned)
Sector P/C percentile 23% — very bullish vs sector
Activity
Unusual activity?
Detects volume surges,
Volume 0.8x avg — normal
Vol/OI 7.0% — normal turnover
1 day(s) elevated — may be one-day event
OI change -7.4% (5d) — unwinding
Sector activity percentile 78% — active vs sector
Large trade volume 28% — mixed
Aggressive execution 26% — patient
Conviction +29 (bullish) — mixed
Liquidity
Can I trade efficiently?
Evaluates
Spread 9.2% — wide
OI 155,605 — deep
Volume 10,941/day — active
$0.46 to cross — cheap
1 liquid strikes — limited options
Sector spread percentile 92% — much wider than sector
Depth 356.0 contracts (bid:193.8 ask:162.2) — adequate
Avg slippage 3.93% — poor
Timing
Is now a good time?
Considers earnings proximity,
Slope -6.4% — contango
IV percentile 81% — seller opportunity
IV kink 0.2pts — no clear event
θ/ν ratio 73.81 — favors income trades
4 liquid expirations — flexible
caution advised: FOMC in 5d; CPI in 0d (HIGH)
Spread ratio 1.00x — stable
Flow +29% @ 65% consistency — moderate (bullish)
Score 58 (ITM 20% + inst 28%) — moderate institutional
Directional Strategy Fit
For educational purposes only. Not investment advice.
The Options Desk tracks the move options price into every US earnings report the week of Sep 7, 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.