LITELumentum Holdings Inc. Common Stock
Options Analysis Report•COMMUNICATIONS EQUIPMENT, NEC
Market Cap $63.8B|NASDAQ
● 2026-04-17$894.07
NEUTRAL
Analysis: 2026-04-16 EOD data
1Y +1685.6%YTD +131.6%7D -0.4%
Options Vol
45,881
30D
Implied Move
±29.8%
IV Rank
50%
LITE Options Overview
IV is elevated. Conditions favor premium sellers.
REWARDS
RISK ANALYSIS
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Value
Is IV priced right?
3.5
ExpensiveCheap
Measures whether options are cheap, fair, or rich relative to historical and peer
IV
levels.Risk Checks4/9 checks passed
IV Rank
≤35%IV Rank 91.6% — elevated vs history
IV/HV Ratio
<1.05xIV/HV 0.92x — IV ≤ HV
Sector Relative≤50%
Sector percentile 89% — above sector median
Term Structure
<1.1xFront/Back 0.94x — contango
Skew Normal
<1.25xPut/Call IV 1.16x — elevated
Absolute IV
<80%ATM IV 99.4% — crisis-level IV
Spread-Adjusted Value
<80%Effective IV 117.3% (ATM 99.4% + spread 9.0% + bias) — expensive
Execution Efficiency
<3.0%Total drag 16.86% (spread 8.97% + slippage 7.89%) — high friction
Vega Efficiency
≥5.0Vega efficiency 58.67 (vega 52.625 / spread 8.97%) — efficient
Sentiment
Bullish or bearish?
5.7
BearishBullish
Analyzes
put/call ratios
, open interest skew
, and flow direction to determine market bias.Risk ChecksBullish - Weak signal (Conviction: +13%, Raw: +14%)
Flow Direction
|net sentiment| ≥25%Conviction-weighted: +13% (bullish) — Raw: +14%
OI Skew Magnitude
≥15%|OI skew| 6.3% — balanced
Volume-OI Alignment
Same sign, |vol skew| ≥10%Vol skew +15.7%, OI skew -6.3% — divergent (opposite)
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: +14%, ATM: +12%, OTM: +15% — bullish (ITM/ATM aligned)
Sector Relative≤40% or ≥60%
Sector P/C percentile 71% — very bearish vs sector
Activity
Unusual activity?
5.2
QuietActive
Detects volume surges,
block trades
, and unusual options activity that may signal moves.Risk Checks3/9 checks passed
Volume Surge
≥1.5xVolume 1.1x avg — normal
Turnover Rate
≥15%Vol/OI 22.6% — 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 +19.2% (5d) — building
Sector Relative≥60%
Sector activity percentile 94% — very active vs sector
Trade Quality
≥30%Large trade volume 4% — mostly retail
Execution Urgency
≥60%Aggressive execution 35% — patient
Flow Conviction
≥30Conviction +13 (bullish) — mixed
Liquidity
Can I trade efficiently?
5.0
IlliquidLiquid
Evaluates
bid-ask spreads
, volume depth, and open interest for trade execution quality.Risk Checks4/8 checks passed
Tradeable Spread
≤5.0%Spread 9.0% — wide
Adequate OI
≥10,000OI 203,379 — deep
Active Volume
≥500Volume 45,881/day — active
Reasonable Cost
≤$0.50$0.45 to cross — cheap
Strike Coverage
≥5 strikes14 liquid strikes — good coverage
Sector Relative≤40%
Sector spread percentile 94% — much wider than sector
Order Book Depth
≥100 contractsDepth 43.5 contracts (bid:21.6 ask:21.9) — thin
Execution Quality
<1.0%Avg slippage 7.89% — poor
Timing
Is now a good time?
7.4
RiskyFavorable
Considers earnings proximity,
time decay
, and event calendar for optimal entry timing.Risk Checks6/9 checks passed
Term Structure Clarity
|slope| ≥5%Slope -5.9% — contango
IV Percentile Clarity
<30 or >70IV percentile 92% — seller opportunity
Event Detection
≥10pts kinkIV kink -9.1pts — no clear event
Theta/Vega Clarity
<0.5 or >2.0θ/ν ratio 17.28 — 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 +13% @ 56% consistency — unclear
Smart Money Timing
≥40 composite scoreScore 34 (ITM 20% + inst 4%) — retail dominated
Directional Strategy Fit
Option Buyers
Long Calls5.1
bullishIV expensive, mixed flow
Long Puts4.6
bearishIV expensive, mixed flow
Premium Sellers
Cash-Secured Put6.1
bullishIV rich premium, mixed flow
Covered Call5.6
bearishIV rich premium, mixed flow
For educational purposes only. Not investment advice.