Options/MAR

MARMarriott International Class A Common Stock

Options Analysis Report•HOTELS & MOTELS

Market Cap $92.3B|NASDAQ

● 2026-08-28$353.87

NEUTRAL

Analysis: 2026-08-27 EOD data

1Y +30.9%YTD +12.9%7D -0.7%

Options Vol

2,034

30D

Implied Move

±6.5%

IV Rank

10%

MAR Options Overview

IV is low. Conditions favor option buyers.

REWARDS

RISK ANALYSIS

Snowflake Analysis

Favorable conditions for option buyers

Learn

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MAR Gamma Walls

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MAR Hedge Radar

No action needed

Full Hedge Radar

Fragility reads low; protection is priced cheap. Neither axis is a forecast — this is where MAR sits on protection cost vs. fragility today.

Protection is priced in the cheap band (2.04) — implied vol sits in the 9th percentile of its own past year, and options are pricing vol 25% below what the stock has actually been realizing, measured against this name's own rolling 21-trading-day realized moves (483 overlapping windows). Fragility reads resilient (3.51): it is trading 9% above its hedge wall on a wall graded MEDIUM for reliability, and its realized-vol regime is stable.

Protection cost

2.04/ 10cheap

Basis: cross_sectional

Fragility

3.51/ 10resilient

Basis: per_ticker

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

IV Rank

≤35%

IV Rank 24.8% — cheap vs history

IV/HV Ratio

<1.05x

IV/HV 0.75x — IV ≤ HV

Sector Relative≤50%

Sector percentile 10% — below sector median

Term Structure

<1.1x

Front/Back 0.86x — contango

Skew Normal

<1.25x

Put/Call IV 1.16x — elevated

Absolute IV

<80%

ATM IV 25.5% — normal range

Spread-Adjusted Value

<80%

Effective IV 51.7% (ATM 25.5% + spread 13.1% + bias) — good value

Execution Efficiency

<3.0%

Total drag 19.63% (spread 13.08% + slippage 6.55%) — high friction

Vega Efficiency

≥5.0

Vega efficiency 13.07 (vega 17.098 / spread 13.08%) — efficient

Sentiment

Bullish or bearish?

4.3

BearishBullish

Analyzes

put/call ratios

open interest skew

, and flow direction to determine market bias.

Risk ChecksNeutral - Moderate signal (Conviction: -4%, Raw: -2%)

Flow Direction

|net sentiment| ≥25%

Conviction-weighted: -4% (neutral) — Raw: -2%

OI Skew Magnitude

≥15%

|OI skew| 10.8% — balanced

Volume-OI Alignment

Same sign, |vol skew| ≥10%

Vol skew -19.3%, OI skew +10.8% — divergent (opposite)

Conviction Quality

≥2/3 conditions

0-DTE 8%, far-OTM 15%, avg DTE 30

OI Momentum

|change| ≥3%

OI change +0.0% (5d) — stable

Smart Money Flow

|weighted flow| ≥20%

ITM: -83%, ATM: +16%, OTM: -25% — strong bearish (ITM/ATM divergent)

Sector Relative≤40% or ≥60%

Sector P/C percentile 76% — very bearish vs sector

Activity

Unusual activity?

2.6

QuietActive

Detects volume surges,

block trades

, and unusual options activity that may signal moves.

Risk Checks0/8 checks passed

Volume Surge

≥1.5x

Volume 0.6x avg — normal

Turnover Rate

≥15%

Vol/OI 3.7% — normal turnover

Multi-Day Persistence

≥2 days

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

OI Build

≥5%

OI change -4.2% (5d) — unwinding

Sector Relative≥60%

Sector activity percentile 44% — neutral vs sector

Trade Quality

≥30%

Large trade volume 19% — mixed

Execution Urgency

≥60%

Aggressive execution 32% — patient

Flow Conviction

≥30

Conviction -4 (bearish) — mixed

Liquidity

Can I trade efficiently?

3.8

IlliquidLiquid

Evaluates

bid-ask spreads

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

Risk Checks3/8 checks passed

Tradeable Spread

≤5.0%

Spread 13.1% — wide

Adequate OI

≥10,000

OI 55,108 — deep

Active Volume

≥500

Volume 2,034/day — adequate

Reasonable Cost

≤$0.50

$0.65 to cross — expensive

Strike Coverage

≥5 strikes

1 liquid strikes — limited options

Sector Relative≤40%

Sector spread percentile 14% — much tighter than sector

Order Book Depth

≥100 contracts

Depth 46.5 contracts (bid:18.3 ask:28.2) — thin

Execution Quality

<1.0%

Avg slippage 6.55% — poor

Timing

Is now a good time?

7.0

RiskyFavorable

Considers earnings proximity,

time decay

, and event calendar for optimal entry timing.

Risk Checks7/9 checks passed

Term Structure Clarity

|slope| ≥5%

Slope -14.1% — contango

IV Percentile Clarity

<30 or >70

IV percentile 25% — buyer opportunity

Event Detection

≥10pts kink

IV kink -1.5pts — no clear event

Theta/Vega Clarity

<0.5 or >2.0

θ/ν ratio 50.23 — favors income trades

Expiration Distribution

≥3 expirations

5 liquid expirations — flexible

Event Risk

≥60% (safe)

safe window: No events detected

Spread Momentum

<1.2 ratio

Spread ratio 1.00x — stable

Flow Momentum

≥25% strength + ≥50% consistency

Flow -4% @ 52% consistency — unclear

Smart Money Timing

≥40 composite score

Score 49 (ITM 20% + inst 19%) — moderate institutional

Directional Strategy Fit

Option Buyers

Long Calls6.4

bullishIV cheap, mixed flow

Long Puts6.9

bearishIV cheap, mixed flow

Premium Sellers

Cash-Secured Put3.5

bullishIV too cheap, mixed flow

Covered Call4.0

bearishIV too cheap, mixed flow

For educational purposes only. Not investment advice.