NETCloudflare, Inc. Class A common stock, par value $0.001 per share
Options Analysis Report•SERVICES-PREPACKAGED SOFTWARE
Market Cap $70.6B|NYSE
● 2026-05-15$199.81
NEUTRAL
Analysis: 2026-05-14 EOD data
1Y +30.8%YTD +1.9%7D +1.9%
Options Vol
25,765
30D
Implied Move
±17.7%
IV Rank
33%
NET Options Overview
IV is elevated. Conditions favor premium sellers.
REWARDS
RISK ANALYSIS
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Value
Is IV priced right?
6.6
ExpensiveCheap
Measures whether options are cheap, fair, or rich relative to historical and peer
IV
levels.Risk Checks6/9 checks passed
IV Rank
≤35%IV Rank 76.0% — elevated vs history
IV/HV Ratio
<1.05xIV/HV 0.58x — IV ≤ HV
Sector Relative≤50%
Sector percentile 46% — below sector median
Term Structure
<1.1xFront/Back 1.00x — flat
Skew Normal
<1.25xPut/Call IV 1.16x — elevated
Absolute IV
<80%ATM IV 65.0% — normal range
Spread-Adjusted Value
<80%Effective IV 82.4% (ATM 65.0% + spread 8.7% + bias) — expensive
Execution Efficiency
<3.0%Total drag 15.59% (spread 8.68% + slippage 6.91%) — high friction
Vega Efficiency
≥5.0Vega efficiency 13.58 (vega 11.789 / spread 8.68%) — efficient
Sentiment
Bullish or bearish?
5.8
BearishBullish
Analyzes
put/call ratios
, open interest skew
, and flow direction to determine market bias.Risk ChecksBullish - Moderate signal (Conviction: +18%, Raw: +20%)
Flow Direction
|net sentiment| ≥25%Conviction-weighted: +18% (bullish) — Raw: +20%
OI Skew Magnitude
≥15%|OI skew| 16.3% — call-heavy
Volume-OI Alignment
Same sign, |vol skew| ≥10%Vol skew +4.6%, OI skew +16.3% — weak (same direction)
Conviction Quality
≥2/3 conditions0-DTE 51%, far-OTM 15%, avg DTE 30
OI Momentum
|change| ≥3%OI change +0.0% (5d) — stable
Smart Money Flow
|weighted flow| ≥20%ITM: +5%, ATM: +18%, OTM: +22% — bullish (ITM/ATM aligned)
Sector Relative≤40% or ≥60%
Sector P/C percentile 76% — very bearish vs sector
Activity
Unusual activity?
4.1
QuietActive
Detects volume surges,
block trades
, and unusual options activity that may signal moves.Risk Checks2/9 checks passed
Volume Surge
≥1.5xVolume 0.9x avg — normal
Turnover Rate
≥15%Vol/OI 7.8% — 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 +8.0% (5d) — building
Sector Relative≥60%
Sector activity percentile 70% — active vs sector
Trade Quality
≥30%Large trade volume 12% — mostly retail
Execution Urgency
≥60%Aggressive execution 40% — patient
Flow Conviction
≥30Conviction +18 (bullish) — mixed
Liquidity
Can I trade efficiently?
4.6
IlliquidLiquid
Evaluates
bid-ask spreads
, volume depth, and open interest for trade execution quality.Risk Checks4/8 checks passed
Tradeable Spread
≤5.0%Spread 8.7% — wide
Adequate OI
≥10,000OI 331,186 — deep
Active Volume
≥500Volume 25,765/day — active
Reasonable Cost
≤$0.50$0.43 to cross — cheap
Strike Coverage
≥5 strikes0 liquid strikes — limited options
Sector Relative≤40%
Sector spread percentile 70% — wider than sector
Order Book Depth
≥100 contractsDepth 142.0 contracts (bid:70.1 ask:71.9) — adequate
Execution Quality
<1.0%Avg slippage 6.91% — poor
Timing
Is now a good time?
6.7
RiskyFavorable
Considers earnings proximity,
time decay
, and event calendar for optimal entry timing.Risk Checks6/9 checks passed
Term Structure Clarity
|slope| ≥5%Slope +0.3% — flat/unclear
IV Percentile Clarity
<30 or >70IV percentile 76% — seller opportunity
Event Detection
≥10pts kinkIV kink 3.1pts — no clear event
Theta/Vega Clarity
<0.5 or >2.0θ/ν ratio 24.56 — favors income trades
Expiration Distribution
≥3 expirations5 liquid expirations — flexible
Event Risk
≥60% (safe)safe window: No earnings detected
Spread Momentum
<1.2 ratioSpread ratio 1.00x — stable
Flow Momentum
≥25% strength + ≥50% consistencyFlow +18% @ 59% consistency — unclear
Smart Money Timing
≥40 composite scoreScore 42 (ITM 20% + inst 12%) — moderate institutional
Directional Strategy Fit
Option Buyers
Long Calls6.0
bullishIV cheap, mixed flow
Long Puts5.5
bearishIV cheap, mixed flow
Premium Sellers
Cash-Secured Put5.0
bullishIV too cheap, mixed flow
Covered Call4.4
bearishIV too cheap, mixed flow
For educational purposes only. Not investment advice.