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MGKVanguard Morningstar Mega Cap Growth ETF

Options Analysis Report
AUM $32.4B|ARCX
● 2026-08-31$90.12
BULLISH
Analysis: 2026-08-28 EOD data
1Y +18.4%YTD +9.7%7D +2.0%
48
30D
±4.1%
1%

MGK Options Overview

IV is low with bullish flow. Conditions favor option buyers.

REWARDS

RISK ANALYSIS

5.8VALUESENTIMENTACTIVITYLIQUIDITYTIMING

Snowflake Analysis

Favorable conditions for option buyers

Learn
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MGK Gamma Walls

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Value

Is IV priced right?

8.6
ExpensiveCheap

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

levels.

Risk Checks7/9 checks passed
≤35%

IV Rank 17.1% — cheap vs history

<1.05x

IV/HV 1.13x — IV premium over HV

Sector Relative≤50%

Sector percentile 31% — below sector median

<1.1x

Front/Back 0.69x — contango

<1.25x

Put/Call IV 1.16x — elevated

<80%

ATM IV 18.1% — normal range

<80%

Effective IV 57.8% (ATM 18.1% + spread 19.9% + bias) — good value

<3.0%

Total drag 30.39% (spread 19.85% + slippage 10.54%) — high friction

≥5.0

Vega efficiency 10.70 (vega 21.244 / spread 19.85%) — efficient

Sentiment

Bullish or bearish?

7.9
BearishBullish

Analyzes

,
, and flow direction to determine market bias.

Risk ChecksVery Bullish - Strong signal (Conviction: +41%, Raw: +29%)
|net sentiment| ≥25%

Conviction-weighted: +41% (strong bullish) — Raw: +29%

≥15%

|OI skew| 50.1% — call-heavy

Same sign, |vol skew| ≥10%

Vol skew +79.2%, OI skew +50.1% — aligned

≥2/3 conditions

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

|change| ≥3%

OI change +0.0% (5d) — stable

|weighted flow| ≥20%

ITM: +29%, ATM: -100%, OTM: +38% — bearish (ITM/ATM divergent)

Sector Relative≤40% or ≥60%

Sector P/C percentile 7% — very bullish 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 0.1x avg — normal

≥15%

Vol/OI 0.5% — normal turnover

≥2 days

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

≥5%

OI change +3.1% (5d) — building

Sector Relative≥60%

Sector activity percentile 17% — quiet vs sector

≥30%

Large trade volume 0% — mostly retail

≥60%

Aggressive execution 28% — patient

≥30

Conviction +41 (bullish) — moderate

Liquidity

Can I trade efficiently?

2.9
IlliquidLiquid

Evaluates

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

Risk Checks2/8 checks passed
≤5.0%

Spread 19.9% — wide

≥10,000

OI 10,358 — adequate

≥500

Volume 48/day — thin

≤$0.50

$0.99 to cross — expensive

≥5 strikes

0 liquid strikes — limited options

Sector Relative≤40%

Sector spread percentile 47% — neutral vs sector

≥100 contracts

Depth 330.5 contracts (bid:90.6 ask:239.9) — adequate

<1.0%

Avg slippage 10.54% — poor

Timing

Is now a good time?

7.3
RiskyFavorable

Considers earnings proximity,

, and event calendar for optimal entry timing.

Risk Checks7/9 checks passed
|slope| ≥5%

Slope -30.7% — contango

<30 or >70

IV percentile 17% — buyer opportunity

≥10pts kink

IV kink -4.4pts — no clear event

<0.5 or >2.0

θ/ν ratio 1021.34 — favors income trades

≥3 expirations

3 liquid expirations — flexible

≥60% (safe)

safe window: No earnings detected

<1.2 ratio

Spread ratio 1.00x — stable

≥25% strength + ≥50% consistency

Flow +41% @ 70% consistency — STRONG directional (bullish)

≥40 composite score

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

Directional Strategy Fit

Option Buyers
Long Calls8.3
bullishIV cheap, bullish flow
Long Puts5.3
bearishIV cheap, bullish flow
Premium Sellers
Cash-Secured Put4.9
bullishIV too cheap, bullish flow
Covered Call2.8
bearishIV too cheap, 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 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.

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