MMM3M Company
Options Analysis Report•SURGICAL & MEDICAL INSTRUMENTS & APPARATUS
Market Cap $75.7B|NYSE
● 2026-05-15$145.12
NEUTRAL
Analysis: 2026-05-14 EOD data
1Y -2.4%YTD -10.3%7D +1.3%
Options Vol
4,133
30D
Implied Move
±7.7%
IV Rank
20%
MMM Options Overview
IV is low. Conditions favor option buyers.
REWARDS
RISK ANALYSIS
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Value
Is IV priced right?
8.2
ExpensiveCheap
Measures whether options are cheap, fair, or rich relative to historical and peer
IV
levels.Risk Checks7/9 checks passed
IV Rank
≤35%IV Rank 22.3% — cheap vs history
IV/HV Ratio
<1.05xIV/HV 1.09x — IV premium over HV
Sector Relative≤50%
Sector percentile 14% — below sector median
Term Structure
<1.1xFront/Back 0.95x — contango
Skew Normal
<1.25xPut/Call IV 1.16x — elevated
Absolute IV
<80%ATM IV 28.7% — normal range
Spread-Adjusted Value
<80%Effective IV 60.6% (ATM 28.7% + spread 15.9% + bias) — good value
Execution Efficiency
<3.0%Total drag 22.21% (spread 15.94% + slippage 6.27%) — high friction
Vega Efficiency
≥5.0Vega efficiency 21.14 (vega 33.698 / spread 15.94%) — efficient
Sentiment
Bullish or bearish?
3.8
BearishBullish
Analyzes
put/call ratios
, open interest skew
, and flow direction to determine market bias.Risk ChecksNeutral - Moderate signal (Conviction: +4%, Raw: +5%)
Flow Direction
|net sentiment| ≥25%Conviction-weighted: +4% (neutral) — Raw: +5%
OI Skew Magnitude
≥15%|OI skew| 11.2% — balanced
Volume-OI Alignment
Same sign, |vol skew| ≥10%Vol skew -17.5%, OI skew -11.2% — aligned
Conviction Quality
≥2/3 conditions0-DTE 12%, far-OTM 15%, avg DTE 30
OI Momentum
|change| ≥3%OI change +0.0% (5d) — stable
Smart Money Flow
|weighted flow| ≥20%ITM: +26%, ATM: +36%, OTM: -11% — strong bullish (ITM/ATM aligned)
Sector Relative≤40% or ≥60%
Sector P/C percentile 81% — very bearish vs sector
Activity
Unusual activity?
3.4
QuietActive
Detects volume surges,
block trades
, and unusual options activity that may signal moves.Risk Checks0/9 checks passed
Volume Surge
≥1.5xVolume 0.6x avg — normal
Turnover Rate
≥15%Vol/OI 3.6% — normal turnover
Strike Concentration
≥60%Top 3 strikes = 50% — dispersed
Multi-Day Persistence
≥2 days1 day(s) elevated — may be one-day event
OI Build
≥5%OI change +4.9% (5d) — building
Sector Relative≥60%
Sector activity percentile 56% — neutral vs sector
Trade Quality
≥30%Large trade volume 17% — mixed
Execution Urgency
≥60%Aggressive execution 30% — patient
Flow Conviction
≥30Conviction +4 (bullish) — mixed
Liquidity
Can I trade efficiently?
3.8
IlliquidLiquid
Evaluates
bid-ask spreads
, volume depth, and open interest for trade execution quality.Risk Checks4/8 checks passed
Tradeable Spread
≤5.0%Spread 15.9% — wide
Adequate OI
≥10,000OI 113,814 — deep
Active Volume
≥500Volume 4,133/day — adequate
Reasonable Cost
≤$0.50$0.80 to cross — expensive
Strike Coverage
≥5 strikes0 liquid strikes — limited options
Sector Relative≤40%
Sector spread percentile 19% — much tighter than sector
Order Book Depth
≥100 contractsDepth 156.8 contracts (bid:55.7 ask:101.1) — adequate
Execution Quality
<1.0%Avg slippage 6.27% — poor
Timing
Is now a good time?
7.1
RiskyFavorable
Considers earnings proximity,
time decay
, and event calendar for optimal entry timing.Risk Checks7/9 checks passed
Term Structure Clarity
|slope| ≥5%Slope -5.0% — contango
IV Percentile Clarity
<30 or >70IV percentile 22% — buyer opportunity
Event Detection
≥10pts kinkIV kink 0.5pts — no clear event
Theta/Vega Clarity
<0.5 or >2.0θ/ν ratio 771.13 — favors income trades
Expiration Distribution
≥3 expirations5 liquid expirations — flexible
Event Risk
≥60% (safe)safe window: No events detected
Spread Momentum
<1.2 ratioSpread ratio 1.00x — stable
Flow Momentum
≥25% strength + ≥50% consistencyFlow +4% @ 52% consistency — unclear
Smart Money Timing
≥40 composite scoreScore 47 (ITM 20% + inst 17%) — moderate institutional
Directional Strategy Fit
Option Buyers
Long Calls5.9
bullishIV cheap, bearish flow
Long Puts6.7
bearishIV cheap, bearish flow
Premium Sellers
Cash-Secured Put3.7
bullishIV too cheap, bearish flow
Covered Call4.5
bearishIV too cheap, bearish flow
For educational purposes only. Not investment advice.