LITELumentum Holdings Inc. Common Stock
Options Analysis Report•COMMUNICATIONS EQUIPMENT, NEC
Market Cap $77.9B|NASDAQ
● 2026-05-15$1001.81
NEUTRAL
Analysis: 2026-05-14 EOD data
1Y +1188.3%YTD +159.5%7D +10.8%
Options Vol
27,903
30D
Implied Move
±28.0%
IV Rank
48%
LITE Options Overview
IV is elevated. Conditions favor premium sellers.
REWARDS
RISK ANALYSIS
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Value
Is IV priced right?
3.7
ExpensiveCheap
Measures whether options are cheap, fair, or rich relative to historical and peer
IV
levels.Risk Checks3/9 checks passed
IV Rank
≤35%IV Rank 91.1% — elevated vs history
IV/HV Ratio
<1.05xIV/HV 1.07x — IV premium over HV
Sector Relative≤50%
Sector percentile 86% — 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 98.2% — crisis-level IV
Spread-Adjusted Value
<80%Effective IV 115.2% (ATM 98.2% + spread 8.5% + bias) — expensive
Execution Efficiency
<3.0%Total drag 18.29% (spread 8.50% + slippage 9.79%) — high friction
Vega Efficiency
≥5.0Vega efficiency 534.63 (vega 454.434 / spread 8.50%) — efficient
Sentiment
Bullish or bearish?
3.5
BearishBullish
Analyzes
put/call ratios
, open interest skew
, and flow direction to determine market bias.Risk ChecksNeutral - Moderate signal (Conviction: -0%, Raw: +8%)
Flow Direction
|net sentiment| ≥25%Conviction-weighted: -0% (neutral) — Raw: +8%
OI Skew Magnitude
≥15%|OI skew| 13.1% — balanced
Volume-OI Alignment
Same sign, |vol skew| ≥10%Vol skew -20.0%, OI skew -13.1% — aligned
Conviction Quality
≥2/3 conditions0-DTE 56%, far-OTM 15%, avg DTE 30
OI Momentum
|change| ≥3%OI change +0.0% (5d) — stable
Smart Money Flow
|weighted flow| ≥20%ITM: -6%, ATM: -13%, OTM: +12% — neutral (ITM/ATM aligned)
Sector Relative≤40% or ≥60%
Sector P/C percentile 91% — very bearish vs sector
Activity
Unusual activity?
4.3
QuietActive
Detects volume surges,
block trades
, and unusual options activity that may signal moves.Risk Checks2/9 checks passed
Volume Surge
≥1.5xVolume 0.8x avg — normal
Turnover Rate
≥15%Vol/OI 12.4% — 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 +23.8% (5d) — building
Sector Relative≥60%
Sector activity percentile 83% — very active vs sector
Trade Quality
≥30%Large trade volume 13% — mostly retail
Execution Urgency
≥60%Aggressive execution 33% — patient
Flow Conviction
≥30Conviction -0 (bearish) — mixed
Liquidity
Can I trade efficiently?
4.7
IlliquidLiquid
Evaluates
bid-ask spreads
, volume depth, and open interest for trade execution quality.Risk Checks3/8 checks passed
Tradeable Spread
≤5.0%Spread 8.5% — wide
Adequate OI
≥10,000OI 224,869 — deep
Active Volume
≥500Volume 27,903/day — active
Reasonable Cost
≤$0.50$0.43 to cross — cheap
Strike Coverage
≥5 strikes2 liquid strikes — limited options
Sector Relative≤40%
Sector spread percentile 92% — much wider than sector
Order Book Depth
≥100 contractsDepth 46.9 contracts (bid:22.9 ask:24.0) — thin
Execution Quality
<1.0%Avg slippage 9.79% — poor
Timing
Is now a good time?
6.9
RiskyFavorable
Considers earnings proximity,
time decay
, and event calendar for optimal entry timing.Risk Checks6/9 checks passed
Term Structure Clarity
|slope| ≥5%Slope +2.2% — flat/unclear
IV Percentile Clarity
<30 or >70IV percentile 91% — seller opportunity
Event Detection
≥10pts kinkIV kink 3.7pts — no clear event
Theta/Vega Clarity
<0.5 or >2.0θ/ν ratio 1683.09 — 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 -0% @ 50% consistency — unclear
Smart Money Timing
≥40 composite scoreScore 43 (ITM 20% + inst 13%) — moderate institutional
Directional Strategy Fit
Option Buyers
Long Calls4.2
bullishIV expensive, bearish flow
Long Puts5.3
bearishIV expensive, bearish flow
Premium Sellers
Cash-Secured Put5.1
bullishIV rich premium, bearish flow
Covered Call6.1
bearishIV rich premium, bearish flow
For educational purposes only. Not investment advice.