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Options/MRNY
M

MRNYYieldMax MRNA Option Income Strategy ETF

Options Analysis Report
Market Cap: --|ARCX
● 2026-08-31$32.62
NEUTRAL
Analysis: 2026-08-28 EOD data
1Y +86.4%YTD +116.2%7D -1.6%
33
30D
±17.4%
5%

MRNY Options Overview

IV is elevated. Conditions favor premium sellers.

REWARDS

RISK ANALYSIS

4.8VALUESENTIMENTACTIVITYLIQUIDITYTIMING

Snowflake Analysis

Favorable conditions for premium sellers

Learn
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MRNY Gamma Walls

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Value

Is IV priced right?

5.3
ExpensiveCheap

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

levels.

Risk Checks4/9 checks passed
≤35%

IV Rank 85.2% — elevated vs history

<1.05x

IV/HV 0.17x — IV ≤ HV

Sector Relative≤50%

Sector percentile 85% — above sector median

<1.1x

Front/Back 0.94x — contango

<1.25x

Put/Call IV 1.16x — elevated

<80%

ATM IV 63.1% — normal range

<80%

Effective IV 248.0% (ATM 63.1% + spread 92.5% + bias) — expensive

<3.0%

Total drag 106.82% (spread 92.47% + slippage 14.35%) — high friction

≥5.0

Vega efficiency 0.47 (vega 4.348 / spread 92.47%) — spread drag

Sentiment

Bullish or bearish?

5.1
BearishBullish

Analyzes

,
, and flow direction to determine market bias.

Risk ChecksVery Bullish - Strong signal (Conviction: +46%, Raw: +54%)
|net sentiment| ≥25%

Conviction-weighted: +46% (strong bullish) — Raw: +54%

≥15%

|OI skew| 56.4% — put-heavy

Same sign, |vol skew| ≥10%

Vol skew -27.3%, OI skew -56.4% — 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: +0%, ATM: +60%, OTM: +69% — bullish (ITM/ATM divergent)

Sector Relative≤40% or ≥60%

Sector P/C percentile 89% — very bearish vs sector

Activity

Unusual activity?

4.0
QuietActive

Detects volume surges,

, and unusual options activity that may signal moves.

Risk Checks3/8 checks passed
≥1.5x

Volume 0.3x avg — normal

≥15%

Vol/OI 5.6% — normal turnover

≥2 days

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

≥5%

OI change +14.0% (5d) — building

Sector Relative≥60%

Sector activity percentile 78% — active vs sector

≥30%

Large trade volume 0% — mostly retail

≥60%

Aggressive execution 0% — patient

≥30

Conviction +46 (bullish) — moderate

Liquidity

Can I trade efficiently?

2.3
IlliquidLiquid

Evaluates

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

Risk Checks1/8 checks passed
≤5.0%

Spread 92.5% — wide

≥10,000

OI 587 — thin

≥500

Volume 33/day — thin

≤$0.50

$4.62 to cross — expensive

≥5 strikes

0 liquid strikes — limited options

Sector Relative≤40%

Sector spread percentile 91% — much wider than sector

≥100 contracts

Depth 334.2 contracts (bid:222.4 ask:111.8) — adequate

<1.0%

Avg slippage 14.35% — poor

Timing

Is now a good time?

7.5
RiskyFavorable

Considers earnings proximity,

, and event calendar for optimal entry timing.

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

Slope -6.5% — contango

<30 or >70

IV percentile 85% — seller opportunity

≥10pts kink

IV kink -2.6pts — no clear event

<0.5 or >2.0

θ/ν ratio 391.72 — 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 +46% @ 74% consistency — STRONG directional (bullish)

≥40 composite score

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

Directional Strategy Fit

Option Buyers
Long Calls5.1
bullishIV fair, mixed flow
Long Puts5.0
bearishIV fair, mixed flow
Premium Sellers
Cash-Secured Put4.8
bullishIV fair, mixed flow
Covered Call4.7
bearishIV fair, 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 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.

More on MRNY

MRNY gamma wallsMRNY max painMRNY IV rankMRNY options flow