Options/MARA

MARAMARA Holdings, Inc. Common Stock

Options Analysis Report•FINANCE SERVICES

Market Cap $4.4B|NASDAQ

● 2026-09-11$11.43

NEUTRAL

Analysis: 2026-09-10 EOD data

1Y -27.2%YTD +15.3%7D +1.1%

Options Vol

105,067

30D

Implied Move

±24.5%

IV Rank

27%

MARA Options Overview

IV is elevated. Conditions favor premium sellers.

REWARDS

RISK ANALYSIS

Snowflake Analysis

Favorable conditions for premium sellers

Learn

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MARA Gamma Walls

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Value

Is IV priced right?

4.0

ExpensiveCheap

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

levels.

Risk Checks3/9 checks passed

IV Rank

≤35%

IV Rank 93.4% — elevated vs history

IV/HV Ratio

<1.05x

IV/HV 0.88x — IV ≤ HV

Sector Relative≤50%

Sector percentile 94% — above sector median

Term Structure

<1.1x

Front/Back 1.01x — flat

Skew Normal

<1.25x

Put/Call IV 1.16x — elevated

Absolute IV

<80%

ATM IV 88.5% — crisis-level IV

Spread-Adjusted Value

<80%

Effective IV 99.0% (ATM 88.5% + spread 5.3% + bias) — expensive

Execution Efficiency

<3.0%

Total drag 11.75% (spread 5.26% + slippage 6.49%) — high friction

Vega Efficiency

≥5.0

Vega efficiency 2.43 (vega 1.279 / spread 5.26%) — spread drag

Sentiment

Bullish or bearish?

6.7

BearishBullish

Analyzes

put/call ratios

open interest skew

, and flow direction to determine market bias.

Risk ChecksNeutral - Moderate signal (Conviction: +5%, Raw: +3%)

Flow Direction

|net sentiment| ≥25%

Conviction-weighted: +5% (neutral) — Raw: +3%

OI Skew Magnitude

≥15%

|OI skew| 17.0% — call-heavy

Volume-OI Alignment

Same sign, |vol skew| ≥10%

Vol skew +39.0%, OI skew +17.0% — aligned

Conviction Quality

≥2/3 conditions

0-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: +8%, ATM: +5%, OTM: +2% — neutral (ITM/ATM aligned)

Sector Relative≤40% or ≥60%

Sector P/C percentile 17% — very bullish vs sector

Activity

Unusual activity?

3.9

QuietActive

Detects volume surges,

block trades

, and unusual options activity that may signal moves.

Risk Checks2/8 checks passed

Volume Surge

≥1.5x

Volume 0.5x avg — normal

Turnover Rate

≥15%

Vol/OI 5.6% — normal turnover

Multi-Day Persistence

≥2 days

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

OI Build

≥5%

OI change +1.2% (5d) — stable

Sector Relative≥60%

Sector activity percentile 72% — active vs sector

Trade Quality

≥30%

Large trade volume 26% — mixed

Execution Urgency

≥60%

Aggressive execution 68% — urgent

Flow Conviction

≥30

Conviction +5 (bullish) — mixed

Liquidity

Can I trade efficiently?

6.1

IlliquidLiquid

Evaluates

bid-ask spreads

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

Risk Checks4/8 checks passed

Tradeable Spread

≤5.0%

Spread 5.3% — wide

Adequate OI

≥10,000

OI 1,876,688 — deep

Active Volume

≥500

Volume 105,067/day — active

Reasonable Cost

≤$0.50

$0.26 to cross — cheap

Strike Coverage

≥5 strikes

0 liquid strikes — limited options

Sector Relative≤40%

Sector spread percentile 95% — much wider than sector

Order Book Depth

≥100 contracts

Depth 794.7 contracts (bid:390.8 ask:403.9) — deep

Execution Quality

<1.0%

Avg slippage 6.49% — poor

Timing

Is now a good time?

6.3

RiskyFavorable

Considers earnings proximity,

time decay

, and event calendar for optimal entry timing.

Risk Checks5/9 checks passed

Term Structure Clarity

|slope| ≥5%

Slope +0.7% — flat/unclear

IV Percentile Clarity

<30 or >70

IV percentile 93% — seller opportunity

Event Detection

≥10pts kink

IV kink 1.2pts — no clear event

Theta/Vega Clarity

<0.5 or >2.0

θ/ν ratio 65.24 — favors income trades

Expiration Distribution

≥3 expirations

3 liquid expirations — flexible

Event Risk

≥60% (safe)

caution advised: FOMC in 5d; CPI in 0d (HIGH)

Spread Momentum

<1.2 ratio

Spread ratio 1.00x — stable

Flow Momentum

≥25% strength + ≥50% consistency

Flow +5% @ 52% consistency — unclear

Smart Money Timing

≥40 composite score

Score 56 (ITM 20% + inst 26%) — moderate institutional

Directional Strategy Fit

Option Buyers

Long Calls5.6

bullishIV expensive, bullish flow

Long Puts4.4

bearishIV expensive, bullish flow

Premium Sellers

Cash-Secured Put6.3

bullishIV rich premium, bullish flow

Covered Call5.1

bearishIV rich premium, bullish flow

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.

More on MARA

MARA gamma walls MARA option chain MARA max pain MARA expected move MARA IV rank MARA put/call ratio MARA options flow