Options/NTRA

NTRANatera, Inc. Common Stock

Options Analysis Report•SERVICES-MEDICAL LABORATORIES

Market Cap $47.0B|NASDAQ

● 2026-09-11$326.14

NEUTRAL

Analysis: 2026-09-10 EOD data

1Y +87.6%YTD +42.5%7D -0.6%

Options Vol

461

30D

Implied Move

±8.6%

IV Rank

15%

NTRA Options Overview

IV is elevated. No clear edge detected.

REWARDS

RISK ANALYSIS

Snowflake Analysis

Balanced conditions with no clear edge

Learn

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NTRA Gamma Walls

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Value

Is IV priced right?

6.0

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 70.2% — elevated vs history

IV/HV Ratio

<1.05x

IV/HV 1.70x — IV premium over HV

Sector Relative≤50%

Sector percentile 42% — below sector median

Term Structure

<1.1x

Front/Back 0.94x — contango

Skew Normal

<1.25x

Put/Call IV 1.16x — elevated

Absolute IV

<80%

ATM IV 48.6% — normal range

Spread-Adjusted Value

<80%

Effective IV 78.9% (ATM 48.6% + spread 15.1% + bias) — fair

Execution Efficiency

<3.0%

Total drag 23.95% (spread 15.13% + slippage 8.82%) — high friction

Vega Efficiency

≥5.0

Vega efficiency 59.62 (vega 90.207 / spread 15.13%) — efficient

Sentiment

Bullish or bearish?

5.6

BearishBullish

Analyzes

put/call ratios

open interest skew

, and flow direction to determine market bias.

Risk ChecksVery Bullish - Strong signal (Conviction: +61%, Raw: +65%)

Flow Direction

|net sentiment| ≥25%

Conviction-weighted: +61% (strong bullish) — Raw: +65%

OI Skew Magnitude

≥15%

|OI skew| 18.8% — put-heavy

Volume-OI Alignment

Same sign, |vol skew| ≥10%

Vol skew -60.5%, OI skew -18.8% — aligned

Conviction Quality

≥2/3 conditions

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

OI Momentum

|change| ≥3%

OI change +0.0% (5d) — stable

Smart Money Flow

|weighted flow| ≥20%

ITM: +100%, ATM: +24%, OTM: +71% — strong bullish (ITM/ATM aligned)

Sector Relative≤40% or ≥60%

Sector P/C percentile 91% — very bearish vs sector

Activity

Unusual activity?

3.9

QuietActive

Detects volume surges,

block trades

, and unusual options activity that may signal moves.

Risk Checks2/8 checks passed

Volume Surge

≥1.5x

Volume 0.5x avg — normal

Turnover Rate

≥15%

Vol/OI 1.6% — normal turnover

Multi-Day Persistence

≥2 days

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

OI Build

≥5%

OI change +2.3% (5d) — building

Sector Relative≥60%

Sector activity percentile 53% — neutral vs sector

Trade Quality

≥30%

Large trade volume 32% — institutional presence

Execution Urgency

≥60%

Aggressive execution 49% — patient

Flow Conviction

≥30

Conviction +61 (bullish) — strong conviction

Liquidity

Can I trade efficiently?

2.6

IlliquidLiquid

Evaluates

bid-ask spreads

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

Risk Checks1/8 checks passed

Tradeable Spread

≤5.0%

Spread 15.1% — wide

Adequate OI

≥10,000

OI 29,297 — adequate

Active Volume

≥500

Volume 461/day — thin

Reasonable Cost

≤$0.50

$0.76 to cross — expensive

Strike Coverage

≥5 strikes

0 liquid strikes — limited options

Sector Relative≤40%

Sector spread percentile 77% — wider than sector

Order Book Depth

≥100 contracts

Depth 14.8 contracts (bid:8.5 ask:6.3) — thin

Execution Quality

<1.0%

Avg slippage 8.82% — 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 -5.7% — contango

IV Percentile Clarity

<30 or >70

IV percentile 70% — seller opportunity

Event Detection

≥10pts kink

IV kink -1.5pts — no clear event

Theta/Vega Clarity

<0.5 or >2.0

θ/ν ratio 660.86 — favors income trades

Expiration Distribution

≥3 expirations

4 liquid expirations — flexible

Event Risk

≥60% (safe)

caution advised: FOMC in 5d; CPI in 0d (HIGH)

Spread Momentum

<1.2 ratio

Spread ratio 1.00x — stable

Flow Momentum

≥25% strength + ≥50% consistency

Flow +61% @ 80% consistency — STRONG directional (bullish)

Smart Money Timing

≥40 composite score

Score 62 (ITM 20% + inst 32%) — HIGH institutional

Directional Strategy Fit

Option Buyers

Long Calls5.5

bullishIV fair, mixed flow

Long Puts5.1

bearishIV fair, mixed flow

Premium Sellers

Cash-Secured Put4.8

bullishIV fair, mixed flow

Covered Call4.3

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 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 NTRA

NTRA gamma walls NTRA option chain NTRA max pain NTRA expected move NTRA IV rank NTRA put/call ratio NTRA options flow