PAASPan American Silver Corp.
Options Analysis Report
Market Cap $25.7B|NYSE
● 2026-05-15$61.09
BULLISH
Analysis: 2026-05-14 EOD data
1Y +167.4%YTD +19.7%7D +3.3%
Options Vol
9,167
30D
Implied Move
±15.6%
IV Rank
45%
PAAS Options Overview
bullish flow. No clear edge detected.
REWARDS
RISK ANALYSIS
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Value
Is IV priced right?
6.2
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 69.8% — elevated vs history
IV/HV Ratio
<1.05xIV/HV 0.93x — IV ≤ HV
Sector Relative≤50%
Sector percentile 52% — above sector median
Term Structure
<1.1xFront/Back 1.02x — flat
Skew Normal
<1.25xPut/Call IV 1.16x — elevated
Absolute IV
<80%ATM IV 57.4% — normal range
Spread-Adjusted Value
<80%Effective IV 73.0% (ATM 57.4% + spread 7.8% + bias) — fair
Execution Efficiency
<3.0%Total drag 12.63% (spread 7.79% + slippage 4.84%) — high friction
Vega Efficiency
≥5.0Vega efficiency 27.08 (vega 21.098 / spread 7.79%) — efficient
Sentiment
Bullish or bearish?
6.2
BearishBullish
Analyzes
put/call ratios
, open interest skew
, and flow direction to determine market bias.Risk ChecksNeutral - Moderate signal (Conviction: -10%, Raw: +3%)
Flow Direction
|net sentiment| ≥25%Conviction-weighted: -10% (neutral) — Raw: +3%
OI Skew Magnitude
≥15%|OI skew| 47.4% — call-heavy
Volume-OI Alignment
Same sign, |vol skew| ≥10%Vol skew +47.1%, OI skew +47.4% — aligned
Conviction Quality
≥2/3 conditions0-DTE 30%, far-OTM 15%, avg DTE 30
OI Momentum
|change| ≥3%OI change +0.0% (5d) — stable
Smart Money Flow
|weighted flow| ≥20%ITM: +17%, ATM: -8%, OTM: +4% — neutral (ITM/ATM divergent)
Sector Relative≤40% or ≥60%
Sector P/C percentile 47% — neutral vs sector
Activity
Unusual activity?
4.2
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 3.2% — 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 +5.8% (5d) — building
Sector Relative≥60%
Sector activity percentile 65% — active vs sector
Trade Quality
≥30%Large trade volume 27% — mixed
Execution Urgency
≥60%Aggressive execution 33% — patient
Flow Conviction
≥30Conviction -10 (bearish) — mixed
Liquidity
Can I trade efficiently?
4.5
IlliquidLiquid
Evaluates
bid-ask spreads
, volume depth, and open interest for trade execution quality.Risk Checks4/8 checks passed
Tradeable Spread
≤5.0%Spread 7.8% — wide
Adequate OI
≥10,000OI 286,410 — deep
Active Volume
≥500Volume 9,167/day — active
Reasonable Cost
≤$0.50$0.39 to cross — cheap
Strike Coverage
≥5 strikes0 liquid strikes — limited options
Sector Relative≤40%
Sector spread percentile 74% — wider than sector
Order Book Depth
≥100 contractsDepth 388.20000000000005 contracts (bid:220.9 ask:167.3) — adequate
Execution Quality
<1.0%Avg slippage 4.84% — poor
Timing
Is now a good time?
6.5
RiskyFavorable
Considers earnings proximity,
time decay
, and event calendar for optimal entry timing.Risk Checks5/9 checks passed
Term Structure Clarity
|slope| ≥5%Slope +2.3% — flat/unclear
IV Percentile Clarity
<30 or >70IV percentile 70% — neutral
Event Detection
≥10pts kinkIV kink 2.3pts — no clear event
Theta/Vega Clarity
<0.5 or >2.0θ/ν ratio 990.50 — 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 -10% @ 55% consistency — unclear
Smart Money Timing
≥40 composite scoreScore 57 (ITM 20% + inst 27%) — moderate institutional
Directional Strategy Fit
Option Buyers
Long Calls6.0
bullishIV cheap, bullish flow
Long Puts5.2
bearishIV cheap, bullish flow
Premium Sellers
Cash-Secured Put4.9
bullishIV too cheap, bullish flow
Covered Call4.4
bearishIV too cheap, bullish flow
For educational purposes only. Not investment advice.