Options/MELI

MELIMercado Libre, Inc

Options Analysis Report•SERVICES-BUSINESS SERVICES, NEC

Market Cap $96.6B|NASDAQ

● 2026-09-11$1897.37

NEUTRAL

Analysis: 2026-09-10 EOD data

1Y -18.9%YTD -3.9%7D -4.1%

Options Vol

6,782

30D

Implied Move

±10.6%

IV Rank

13%

MELI Options Overview

unusual activity. No clear edge detected.

REWARDS

RISK ANALYSIS

Snowflake Analysis

Balanced conditions with no clear edge

Learn

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MELI Gamma Walls

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Value

Is IV priced right?

7.3

ExpensiveCheap

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

levels.

Risk Checks6/9 checks passed

IV Rank

≤35%

IV Rank 58.6% — elevated vs history

IV/HV Ratio

<1.05x

IV/HV 1.07x — IV premium over HV

Sector Relative≤50%

Sector percentile 39% — below sector median

Term Structure

<1.1x

Front/Back 0.88x — contango

Skew Normal

<1.25x

Put/Call IV 1.16x — elevated

Absolute IV

<80%

ATM IV 39.8% — normal range

Spread-Adjusted Value

<80%

Effective IV 79.7% (ATM 39.8% + spread 19.9% + bias) — fair

Execution Efficiency

<3.0%

Total drag 27.20% (spread 19.95% + slippage 7.25%) — high friction

Vega Efficiency

≥5.0

Vega efficiency 322.52 (vega 643.427 / spread 19.95%) — efficient

Sentiment

Bullish or bearish?

4.7

BearishBullish

Analyzes

put/call ratios

open interest skew

, and flow direction to determine market bias.

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

Flow Direction

|net sentiment| ≥25%

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

OI Skew Magnitude

≥15%

|OI skew| 9.2% — balanced

Volume-OI Alignment

Same sign, |vol skew| ≥10%

Vol skew -14.5%, OI skew +9.2% — divergent (opposite)

Conviction Quality

≥2/3 conditions

0-DTE 27%, far-OTM 15%, avg DTE 30

OI Momentum

|change| ≥3%

OI change +0.0% (5d) — stable

Smart Money Flow

|weighted flow| ≥20%

ITM: +25%, ATM: +4%, OTM: -9% — bullish (ITM/ATM aligned)

Sector Relative≤40% or ≥60%

Sector P/C percentile 69% — bearish vs sector

Activity

Unusual activity?

3.6

QuietActive

Detects volume surges,

block trades

, and unusual options activity that may signal moves.

Risk Checks1/8 checks passed

Volume Surge

≥1.5x

Volume 0.9x avg — normal

Turnover Rate

≥15%

Vol/OI 10.6% — normal turnover

Multi-Day Persistence

≥2 days

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

OI Build

≥5%

OI change +0.8% (5d) — stable

Sector Relative≥60%

Sector activity percentile 86% — very active vs sector

Trade Quality

≥30%

Large trade volume 0% — mostly retail

Execution Urgency

≥60%

Aggressive execution 10% — patient

Flow Conviction

≥30

Conviction -2 (bearish) — mixed

Liquidity

Can I trade efficiently?

3.0

IlliquidLiquid

Evaluates

bid-ask spreads

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

Risk Checks2/8 checks passed

Tradeable Spread

≤5.0%

Spread 19.9% — wide

Adequate OI

≥10,000

OI 64,001 — deep

Active Volume

≥500

Volume 6,782/day — active

Reasonable Cost

≤$0.50

$1.00 to cross — expensive

Strike Coverage

≥5 strikes

0 liquid strikes — limited options

Sector Relative≤40%

Sector spread percentile 66% — wider than sector

Order Book Depth

≥100 contracts

Depth 28.299999999999997 contracts (bid:13.6 ask:14.7) — thin

Execution Quality

<1.0%

Avg slippage 7.25% — poor

Timing

Is now a good time?

6.4

RiskyFavorable

Considers earnings proximity,

time decay

, and event calendar for optimal entry timing.

Risk Checks4/9 checks passed

Term Structure Clarity

|slope| ≥5%

Slope -11.7% — contango

IV Percentile Clarity

<30 or >70

IV percentile 59% — neutral

Event Detection

≥10pts kink

IV kink -3.2pts — no clear event

Theta/Vega Clarity

<0.5 or >2.0

θ/ν ratio 1067.75 — favors income trades

Expiration Distribution

≥3 expirations

5 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 -2% @ 51% consistency — unclear

Smart Money Timing

≥40 composite score

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

Directional Strategy Fit

Option Buyers

Long Calls5.6

bullishIV cheap, mixed flow

Long Puts5.8

bearishIV cheap, mixed flow

Premium Sellers

Cash-Secured Put4.0

bullishIV too cheap, mixed flow

Covered Call4.2

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 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 MELI

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