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Options Analysis ReportREAL ESTATE INVESTMENT TRUSTS
Market Cap $5.2B|NYSE
2026-08-31$29.60
NEUTRAL
Analysis: 2026-08-28 EOD data
1Y +60.5%YTD +24.8%7D -2.7%
4
30D
±9.1%
8%

OUT Options Overview

Mixed signals. No clear edge detected.

REWARDS

RISK ANALYSIS

3.7VALUESENTIMENTACTIVITYLIQUIDITYTIMING

Snowflake Analysis

Balanced conditions with no clear edge

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OUT Gamma Walls

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Value

Is IV priced right?

4.2
ExpensiveCheap

Measures whether options are cheap, fair, or rich relative to historical and peer

levels.

Risk Checks3/9 checks passed
≤35%

IV Rank 54.5% — elevated vs history

<1.05x

IV/HV 1.50x — IV premium over HV

Sector Relative≤50%

Sector percentile 75% — above sector median

<1.1x

Front/Back 0.96x — contango

<1.25x

Put/Call IV 1.16x — elevated

<80%

ATM IV 34.6% — normal range

<80%

Effective IV 147.9% (ATM 34.6% + spread 56.6% + bias) — expensive

<3.0%

Total drag 69.78% (spread 56.65% + slippage 13.13%) — high friction

≥5.0

Vega efficiency 0.50 (vega 2.814 / spread 56.65%) — spread drag

Sentiment

Bullish or bearish?

3.8
BearishBullish

Analyzes

,
, and flow direction to determine market bias.

Risk ChecksBearish - Moderate signal (Conviction: -17%, Raw: +0%)
|net sentiment| ≥25%

Conviction-weighted: -17% (bearish) — Raw: +0%

≥15%

|OI skew| 46.7% — call-heavy

Same sign, |vol skew| ≥10%

Vol skew -50.0%, OI skew +46.7% — divergent (opposite)

≥2/3 conditions

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

|change| ≥3%

OI change +0.0% (5d) — stable

|weighted flow| ≥20%

ITM: +0%, ATM: -100%, OTM: +100% — strong bearish (ITM/ATM divergent)

Sector Relative≤40% or ≥60%

Sector P/C percentile 86% — very bearish vs sector

Activity

Unusual activity?

2.1
QuietActive

Detects volume surges,

, and unusual options activity that may signal moves.

Risk Checks0/8 checks passed
≥1.5x

Volume 0.0x avg — normal

≥15%

Vol/OI 0.2% — normal turnover

≥2 days

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

≥5%

OI change +4.4% (5d) — building

Sector Relative≥60%

Sector activity percentile 21% — below sector avg

≥30%

Large trade volume 0% — mostly retail

≥60%

Aggressive execution 0% — patient

≥30

Conviction -17 (bearish) — mixed

Liquidity

Can I trade efficiently?

2.0
IlliquidLiquid

Evaluates

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

Risk Checks0/8 checks passed
≤5.0%

Spread 56.6% — wide

≥10,000

OI 1,667 — thin

≥500

Volume 4/day — thin

≤$0.50

$2.83 to cross — expensive

≥5 strikes

0 liquid strikes — limited options

Sector Relative≤40%

Sector spread percentile 89% — much wider than sector

≥100 contracts

Depth 28.8 contracts (bid:13.8 ask:15.0) — thin

<1.0%

Avg slippage 13.13% — poor

Timing

Is now a good time?

6.5
RiskyFavorable

Considers earnings proximity,

, and event calendar for optimal entry timing.

Risk Checks4/9 checks passed
|slope| ≥5%

Slope -3.6% — flat/unclear

<30 or >70

IV percentile 54% — neutral

≥10pts kink

IV kink -4.3pts — no clear event

<0.5 or >2.0

θ/ν ratio 127.90 — favors income trades

≥3 expirations

3 liquid expirations — flexible

≥60% (safe)

safe window: No events detected

<1.2 ratio

Spread ratio 1.00x — stable

≥25% strength + ≥50% consistency

Flow -17% @ 50% consistency — unclear

≥40 composite score

Score 30 (ITM 20% + inst 0%) — retail dominated

Directional Strategy Fit

Option Buyers
Long Calls4.1
bullishIV fair, bearish flow
Long Puts4.9
bearishIV fair, bearish flow
Premium Sellers
Cash-Secured Put4.4
bullishIV fair, bearish flow
Covered Call5.3
bearishIV fair, bearish flow

For educational purposes only. Not investment advice.

The Options Desk tracks the move options price into every US earnings report the week of Aug 31, 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.

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