NVONovo-Nordisk A/S
Options Analysis Report
Market Cap $179.8B|NYSE
● 2026-04-17$40.52
NEUTRAL
Analysis: 2026-04-16 EOD data
1Y -30.5%YTD -22.7%7D +8.0%
Options Vol
87,908
30D
Implied Move
±13.0%
IV Rank
20%
NVO Options Overview
unusual activity. Conditions favor premium sellers.
REWARDS
RISK ANALYSIS
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Value
Is IV priced right?
5.6
ExpensiveCheap
Measures whether options are cheap, fair, or rich relative to historical and peer
IV
levels.Risk Checks5/9 checks passed
IV Rank
≤35%IV Rank 53.1% — elevated vs history
IV/HV Ratio
<1.05xIV/HV 1.61x — IV premium over HV
Sector Relative≤50%
Sector percentile 26% — 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 45.0% — normal range
Spread-Adjusted Value
<80%Effective IV 55.4% (ATM 45.0% + spread 5.2% + bias) — good value
Execution Efficiency
<3.0%Total drag 8.46% (spread 5.22% + slippage 3.24%) — high friction
Vega Efficiency
≥5.0Vega efficiency 1.64 (vega 0.854 / spread 5.22%) — spread drag
Sentiment
Bullish or bearish?
6.7
BearishBullish
Analyzes
put/call ratios
, open interest skew
, and flow direction to determine market bias.Risk ChecksNeutral - Moderate signal (Conviction: +8%, Raw: +3%)
Flow Direction
|net sentiment| ≥25%Conviction-weighted: +8% (neutral) — Raw: +3%
OI Skew Magnitude
≥15%|OI skew| 18.6% — call-heavy
Volume-OI Alignment
Same sign, |vol skew| ≥10%Vol skew +28.9%, OI skew +18.6% — aligned
Conviction Quality
≥2/3 conditions0-DTE 24%, far-OTM 15%, avg DTE 30
OI Momentum
|change| ≥3%OI change +0.0% (5d) — stable
Smart Money Flow
|weighted flow| ≥20%ITM: -14%, ATM: -25%, OTM: +11% — bearish (ITM/ATM aligned)
Sector Relative≤40% or ≥60%
Sector P/C percentile 49% — neutral vs sector
Activity
Unusual activity?
5.2
QuietActive
Detects volume surges,
block trades
, and unusual options activity that may signal moves.Risk Checks3/9 checks passed
Volume Surge
≥1.5xVolume 1.1x avg — normal
Turnover Rate
≥15%Vol/OI 5.6% — 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 +5.7% (5d) — building
Sector Relative≥60%
Sector activity percentile 78% — active vs sector
Trade Quality
≥30%Large trade volume 36% — institutional presence
Execution Urgency
≥60%Aggressive execution 56% — patient
Flow Conviction
≥30Conviction +8 (bullish) — mixed
Liquidity
Can I trade efficiently?
6.0
IlliquidLiquid
Evaluates
bid-ask spreads
, volume depth, and open interest for trade execution quality.Risk Checks4/8 checks passed
Tradeable Spread
≤5.0%Spread 5.2% — wide
Adequate OI
≥10,000OI 1,566,465 — deep
Active Volume
≥500Volume 87,908/day — active
Reasonable Cost
≤$0.50$0.26 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 270.4 contracts (bid:139.5 ask:130.9) — adequate
Execution Quality
<1.0%Avg slippage 3.24% — poor
Timing
Is now a good time?
7.2
RiskyFavorable
Considers earnings proximity,
time decay
, and event calendar for optimal entry timing.Risk Checks6/9 checks passed
Term Structure Clarity
|slope| ≥5%Slope -9.6% — contango
IV Percentile Clarity
<30 or >70IV percentile 53% — neutral
Event Detection
≥10pts kinkIV kink -4.5pts — no clear event
Theta/Vega Clarity
<0.5 or >2.0θ/ν ratio 4.01 — 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 +8% @ 54% consistency — unclear
Smart Money Timing
≥40 composite scoreScore 66 (ITM 20% + inst 36%) — HIGH institutional
Directional Strategy Fit
Option Buyers
Long Calls6.3
bullishIV fair, bullish flow
Long Puts5.1
bearishIV fair, bullish flow
Premium Sellers
Cash-Secured Put5.9
bullishIV fair, bullish flow
Covered Call4.8
bearishIV fair, bullish flow
For educational purposes only. Not investment advice.