NVONovo-Nordisk A/S
Options Analysis Report
Market Cap $203.0B|NYSE
● 2026-05-15$45.80
NEUTRAL
Analysis: 2026-05-14 EOD data
1Y -30.8%YTD -12.6%7D -0.6%
Options Vol
47,175
30D
Implied Move
±10.8%
IV Rank
9%
NVO Options Overview
bullish flow. No clear edge detected.
REWARDS
RISK ANALYSIS
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Value
Is IV priced right?
8.1
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 44.2% — elevated vs history
IV/HV Ratio
<1.05xIV/HV 1.06x — IV premium over HV
Sector Relative≤50%
Sector percentile 24% — below sector median
Term Structure
<1.1xFront/Back 0.90x — contango
Skew Normal
<1.25xPut/Call IV 1.16x — elevated
Absolute IV
<80%ATM IV 39.9% — normal range
Spread-Adjusted Value
<80%Effective IV 49.7% (ATM 39.9% + spread 4.9% + bias) — excellent value
Execution Efficiency
<3.0%Total drag 8.43% (spread 4.90% + slippage 3.53%) — high friction
Vega Efficiency
≥5.0Vega efficiency 5.52 (vega 2.704 / spread 4.90%) — acceptable
Sentiment
Bullish or bearish?
5.9
BearishBullish
Analyzes
put/call ratios
, open interest skew
, and flow direction to determine market bias.Risk ChecksBearish - Strong signal (Conviction: -16%, Raw: -12%)
Flow Direction
|net sentiment| ≥25%Conviction-weighted: -16% (bearish) — Raw: -12%
OI Skew Magnitude
≥15%|OI skew| 18.4% — call-heavy
Volume-OI Alignment
Same sign, |vol skew| ≥10%Vol skew +56.9%, OI skew +18.4% — aligned
Conviction Quality
≥2/3 conditions0-DTE 37%, far-OTM 15%, avg DTE 30
OI Momentum
|change| ≥3%OI change +0.0% (5d) — stable
Smart Money Flow
|weighted flow| ≥20%ITM: -37%, ATM: +16%, OTM: -22% — bearish (ITM/ATM divergent)
Sector Relative≤40% or ≥60%
Sector P/C percentile 35% — bullish vs sector
Activity
Unusual activity?
3.5
QuietActive
Detects volume surges,
block trades
, and unusual options activity that may signal moves.Risk Checks1/9 checks passed
Volume Surge
≥1.5xVolume 0.6x avg — normal
Turnover Rate
≥15%Vol/OI 3.1% — 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 +2.2% (5d) — building
Sector Relative≥60%
Sector activity percentile 64% — active vs sector
Trade Quality
≥30%Large trade volume 19% — mixed
Execution Urgency
≥60%Aggressive execution 59% — patient
Flow Conviction
≥30Conviction -16 (bearish) — mixed
Liquidity
Can I trade efficiently?
6.3
IlliquidLiquid
Evaluates
bid-ask spreads
, volume depth, and open interest for trade execution quality.Risk Checks5/8 checks passed
Tradeable Spread
≤5.0%Spread 4.9% — acceptable
Adequate OI
≥10,000OI 1,535,072 — deep
Active Volume
≥500Volume 47,175/day — active
Reasonable Cost
≤$0.50$0.24 to cross — cheap
Strike Coverage
≥5 strikes2 liquid strikes — limited options
Sector Relative≤40%
Sector spread percentile 69% — wider than sector
Order Book Depth
≥100 contractsDepth 249.3 contracts (bid:111.3 ask:138.0) — adequate
Execution Quality
<1.0%Avg slippage 3.53% — poor
Timing
Is now a good time?
7.1
RiskyFavorable
Considers earnings proximity,
time decay
, and event calendar for optimal entry timing.Risk Checks6/9 checks passed
Term Structure Clarity
|slope| ≥5%Slope -9.9% — contango
IV Percentile Clarity
<30 or >70IV percentile 44% — neutral
Event Detection
≥10pts kinkIV kink -0.8pts — no clear event
Theta/Vega Clarity
<0.5 or >2.0θ/ν ratio 39.70 — 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 -16% @ 58% consistency — unclear
Smart Money Timing
≥40 composite scoreScore 49 (ITM 20% + inst 19%) — moderate institutional
Directional Strategy Fit
Option Buyers
Long Calls6.9
bullishIV cheap, mixed flow
Long Puts6.3
bearishIV cheap, mixed flow
Premium Sellers
Cash-Secured Put5.0
bullishIV too cheap, mixed flow
Covered Call4.3
bearishIV too cheap, mixed flow
For educational purposes only. Not investment advice.