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MAINMain Street Capital Corporation

Options Analysis Report
Market Cap $5.5B|NYSE
● 2026-08-31$58.55
NEUTRAL
Analysis: 2026-08-28 EOD data
1Y -11.0%YTD -5.2%7D -0.6%
281
30D
±4.4%
1%

MAIN Options Overview

IV is low. Conditions favor option buyers.

REWARDS

RISK ANALYSIS

5.2VALUESENTIMENTACTIVITYLIQUIDITYTIMING

Snowflake Analysis

Favorable conditions for option buyers

Learn
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MAIN Gamma Walls

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Value

Is IV priced right?

9.3
ExpensiveCheap

Measures whether options are cheap, fair, or rich relative to historical and peer

levels.

Risk Checks8/9 checks passed
≤35%

IV Rank 17.6% — cheap vs history

<1.05x

IV/HV 0.84x — IV ≤ HV

Sector Relative≤50%

Sector percentile 31% — below sector median

<1.1x

Front/Back 0.73x — contango

<1.25x

Put/Call IV 1.16x — elevated

<80%

ATM IV 18.3% — normal range

<80%

Effective IV 52.9% (ATM 18.3% + spread 17.3% + bias) — good value

<3.0%

Total drag 23.74% (spread 17.29% + slippage 6.45%) — high friction

≥5.0

Vega efficiency 7.47 (vega 12.919 / spread 17.29%) — efficient

Sentiment

Bullish or bearish?

4.6
BearishBullish

Analyzes

,
, and flow direction to determine market bias.

Risk ChecksNeutral - Weak signal (Conviction: +2%, Raw: +7%)
|net sentiment| ≥25%

Conviction-weighted: +2% (neutral) — Raw: +7%

≥15%

|OI skew| 25.9% — put-heavy

Same sign, |vol skew| ≥10%

Vol skew -5.3%, OI skew -25.9% — weak (same direction)

≥2/3 conditions

0-DTE 0%, far-OTM 15%, avg DTE 30

|change| ≥3%

OI change +0.0% (5d) — stable

|weighted flow| ≥20%

ITM: +9%, ATM: -12%, OTM: +47% — neutral (ITM/ATM divergent)

Sector Relative≤40% or ≥60%

Sector P/C percentile 88% — very bearish vs sector

Activity

Unusual activity?

2.4
QuietActive

Detects volume surges,

, and unusual options activity that may signal moves.

Risk Checks1/8 checks passed
≥1.5x

Volume 0.2x avg — normal

≥15%

Vol/OI 1.1% — normal turnover

≥2 days

1 day(s) elevated — may be one-day event

≥5%

OI change +51.6% (5d) — building

Sector Relative≥60%

Sector activity percentile 33% — below sector avg

≥30%

Large trade volume 0% — mostly retail

≥60%

Aggressive execution 37% — patient

≥30

Conviction +2 (bullish) — mixed

Liquidity

Can I trade efficiently?

3.0
IlliquidLiquid

Evaluates

, volume depth, and open interest for trade execution quality.

Risk Checks1/8 checks passed
≤5.0%

Spread 17.3% — wide

≥10,000

OI 24,602 — adequate

≥500

Volume 281/day — thin

≤$0.50

$0.86 to cross — expensive

≥5 strikes

0 liquid strikes — limited options

Sector Relative≤40%

Sector spread percentile 48% — neutral vs sector

≥100 contracts

Depth 77.5 contracts (bid:35.5 ask:42.0) — thin

<1.0%

Avg slippage 6.45% — poor

Timing

Is now a good time?

6.7
RiskyFavorable

Considers earnings proximity,

, and event calendar for optimal entry timing.

Risk Checks6/9 checks passed
|slope| ≥5%

Slope -27.5% — contango

<30 or >70

IV percentile 18% — buyer opportunity

≥10pts kink

IV kink -4.8pts — no clear event

<0.5 or >2.0

θ/ν ratio 1123.43 — favors income trades

≥3 expirations

3 liquid expirations — flexible

≥60% (safe)

safe window: No events detected

<1.2 ratio

Spread ratio 1.00x — stable

≥25% strength + ≥50% consistency

Flow +2% @ 51% consistency — unclear

≥40 composite score

Score 30 (ITM 20% + inst 0%) — retail dominated

Directional Strategy Fit

Option Buyers
Long Calls6.3
bullishIV cheap, mixed flow
Long Puts6.6
bearishIV cheap, mixed flow
Premium Sellers
Cash-Secured Put3.4
bullishIV too cheap, mixed flow
Covered Call3.7
bearishIV too cheap, mixed flow

For educational purposes only. Not investment advice.

The Options Desk tracks the move options price into every US earnings report the week of Aug 31, 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.

More on MAIN

MAIN gamma wallsMAIN max painMAIN IV rankMAIN options flow