IV is elevated with unusual activity. Conditions favor premium sellers.
Is IV priced right?
Measures whether options are cheap, fair, or rich relative to historical and peer
IV Rank 99.1% — elevated vs history
IV/HV 0.92x — IV ≤ HV
Sector percentile 99% — above sector median
Front/Back 1.08x — backwardation
Put/Call IV 1.16x — elevated
ATM IV 181.2% — crisis-level IV
Effective IV 191.1% (ATM 181.2% + spread 5.0% + bias) — expensive
Total drag 8.17% (spread 4.96% + slippage 3.21%) — high friction
Vega efficiency 438.22 (vega 217.358 / spread 4.96%) — efficient
Bullish or bearish?
Analyzes
Conviction-weighted: +20% (bullish) — Raw: +22%
|OI skew| 23.5% — call-heavy
Vol skew -6.9%, OI skew +23.5% — divergent (opposite)
0-DTE 0%, far-OTM 15%, avg DTE 30
OI change +0.0% (5d) — stable
ITM: -13%, ATM: -25%, OTM: +36% — bearish (ITM/ATM aligned)
Sector P/C percentile 90% — very bearish vs sector
Unusual activity?
Detects volume surges,
Volume 0.8x avg — normal
Vol/OI 10.0% — normal turnover
Top 3 strikes = 50% — dispersed
1 day(s) elevated — may be one-day event
OI change +9.5% (5d) — building
Sector activity percentile 86% — very active vs sector
Large trade volume 24% — mixed
Aggressive execution 33% — patient
Conviction +20 (bullish) — mixed
Can I trade efficiently?
Evaluates
Spread 5.0% — acceptable
OI 10,782 — adequate
Volume 1,076/day — adequate
$0.25 to cross — cheap
12 liquid strikes — good coverage
Sector spread percentile 99% — much wider than sector
Depth 21.799999999999997 contracts (bid:12.2 ask:9.6) — thin
Avg slippage 3.21% — poor
Is now a good time?
Considers earnings proximity,
Slope +7.9% — backwardation
IV percentile 99% — seller opportunity
IV kink 7.5pts — no clear event
θ/ν ratio 230.28 — favors income trades
3 liquid expirations — flexible
safe window: No earnings detected
Spread ratio 1.00x — stable
Flow +20% @ 60% consistency — unclear
Score 54 (ITM 20% + inst 24%) — moderate institutional
For educational purposes only. Not investment advice.