Options/MSOS

MSOSAdvisorShares Pure US Cannabis ETF

Options Analysis Report

AUM $956M|ARCX

● 2026-09-11$4.83

NEUTRAL

Analysis: 2026-09-10 EOD data

1Y +10.3%YTD +0.8%7D -5.5%

Options Vol

33,010

30D

Implied Move

±8.6%

IV Rank

13%

MSOS Options Overview

Mixed signals. No clear edge detected.

REWARDS

RISK ANALYSIS

Snowflake Analysis

Balanced conditions with no clear edge

Learn

Loading score history...

MSOS Gamma Walls

Loading gamma walls...

MSOS Hedge Radar

Hedge window open

Full Hedge Radar

Fragility reads high; protection is priced cheap. Neither axis is a forecast — this is where MSOS sits on protection cost vs. fragility today.

Protection is priced in the cheap band (2.19) — downside puts carry 8.1 IV points LESS than at-the-money, and implied vol sits in the 9th percentile of its own past year, measured against this name's own rolling 21-trading-day realized moves (483 overlapping windows). Fragility reads fragile (7.5): it is trading 18% above its hedge wall on a wall graded HIGH for reliability, a name whose wall relationship is measured as inverted, and its realized-vol regime is stable.

Protection cost

2.19/ 10cheap

Basis: cross_sectional

Fragility

7.50/ 10fragile

Basis: per_ticker

Value

Is IV priced right?

6.7

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 50.0% — elevated vs history

IV/HV Ratio

<1.05x

IV/HV 1.00x — IV ≤ HV

Sector Relative≤50%

Sector percentile 50% — below sector median

Term Structure

<1.1x

Front/Back 1.00x — flat

Skew Normal

<1.25x

Put/Call IV 1.00x — normal

Absolute IV

<80%

ATM IV 0.0% — normal range

Spread-Adjusted Value

<80%

Effective IV 42.2% (ATM 0.0% + spread 21.1% + bias) — excellent value

Execution Efficiency

<3.0%

Total drag 27.62% (spread 21.10% + slippage 6.52%) — high friction

Vega Efficiency

≥5.0

Vega efficiency 0.00 (vega 0.000 / spread 21.10%) — spread drag

Sentiment

Bullish or bearish?

4.7

BearishBullish

Analyzes

put/call ratios

open interest skew

, and flow direction to determine market bias.

Risk ChecksVery Bearish - Strong signal (Conviction: -36%, Raw: -21%)

Flow Direction

|net sentiment| ≥25%

Conviction-weighted: -36% (strong bearish) — Raw: -21%

OI Skew Magnitude

≥15%

|OI skew| 72.4% — call-heavy

Volume-OI Alignment

Same sign, |vol skew| ≥10%

Vol skew +9.0%, OI skew +72.4% — weak (same direction)

Conviction Quality

≥2/3 conditions

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

OI Momentum

|change| ≥3%

OI change +0.0% (5d) — stable

Smart Money Flow

|weighted flow| ≥20%

ITM: -20%, ATM: +13%, OTM: -22% — neutral (ITM/ATM divergent)

Sector Relative≤40% or ≥60%

Sector P/C percentile 26% — very bullish vs sector

Activity

Unusual activity?

4.9

QuietActive

Detects volume surges,

block trades

, and unusual options activity that may signal moves.

Risk Checks3/8 checks passed

Volume Surge

≥1.5x

Volume 1.2x avg — normal

Turnover Rate

≥15%

Vol/OI 4.9% — normal turnover

Multi-Day Persistence

≥2 days

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

OI Build

≥5%

OI change +1.5% (5d) — stable

Sector Relative≥60%

Sector activity percentile 69% — active vs sector

Trade Quality

≥30%

Large trade volume 65% — heavy institutional

Execution Urgency

≥60%

Aggressive execution 41% — patient

Flow Conviction

≥30

Conviction -36 (bearish) — moderate

Liquidity

Can I trade efficiently?

4.4

IlliquidLiquid

Evaluates

bid-ask spreads

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

Risk Checks4/8 checks passed

Tradeable Spread

≤5.0%

Spread 21.1% — wide

Adequate OI

≥10,000

OI 674,737 — deep

Active Volume

≥500

Volume 33,010/day — active

Reasonable Cost

≤$0.50

$1.06 to cross — expensive

Strike Coverage

≥5 strikes

0 liquid strikes — limited options

Sector Relative≤40%

Sector spread percentile 0% — much tighter than sector

Order Book Depth

≥100 contracts

Depth 555.8 contracts (bid:228.4 ask:327.4) — deep

Execution Quality

<1.0%

Avg slippage 6.52% — poor

Timing

Is now a good time?

5.4

RiskyFavorable

Considers earnings proximity,

time decay

, and event calendar for optimal entry timing.

Risk Checks4/9 checks passed

Term Structure Clarity

|slope| ≥5%

Slope +0.0% — flat/unclear

IV Percentile Clarity

<30 or >70

IV percentile 50% — neutral

Event Detection

≥10pts kink

IV kink 0.0pts — no clear event

Theta/Vega Clarity

<0.5 or >2.0

θ/ν ratio 1.00 — favors mixed

Expiration Distribution

≥3 expirations

3 liquid expirations — flexible

Event Risk

≥60% (safe)

caution advised: No earnings detected; FOMC in 5d; CPI in 0d (HIGH)

Spread Momentum

<1.2 ratio

Spread ratio 1.00x — stable

Flow Momentum

≥25% strength + ≥50% consistency

Flow -36% @ 68% consistency — moderate (bearish)

Smart Money Timing

≥40 composite score

Score 95 (ITM 20% + inst 65%) — HIGH institutional

Directional Strategy Fit

Option Buyers

Long Calls5.5

bullishIV cheap, mixed flow

Long Puts5.7

bearishIV cheap, mixed flow

Premium Sellers

Cash-Secured Put4.3

bullishIV too cheap, mixed flow

Covered Call4.5

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 MSOS

MSOS gamma walls MSOS option chain MSOS max pain MSOS IV rank MSOS put/call ratio MSOS options flow