Options/PALL

PALLabrdn Physical Palladium Shares ETF

Options Analysis Report•COMMODITY CONTRACTS BROKERS & DEALERS

AUM $769M|ARCX

● 2026-08-31$25.79

BULLISH

Analysis: 2026-08-28 EOD data

1Y +23.9%YTD -13.4%7D +4.7%

Options Vol

10,374

30D

Implied Move

±15.3%

IV Rank

14%

PALL Options Overview

IV is elevated with bullish flow and unusual activity. No clear edge detected.

REWARDS

RISK ANALYSIS

Snowflake Analysis

Favorable conditions for premium sellers

Learn

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PALL Gamma Walls

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Value

Is IV priced right?

4.3

ExpensiveCheap

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

levels.

Risk Checks2/9 checks passed

IV Rank

≤35%

IV Rank 73.4% — elevated vs history

IV/HV Ratio

<1.05x

IV/HV 1.15x — IV premium over HV

Sector Relative≤50%

Sector percentile 85% — above sector median

Term Structure

<1.1x

Front/Back 1.14x — backwardation

Skew Normal

<1.25x

Put/Call IV 1.16x — elevated

Absolute IV

<80%

ATM IV 47.6% — normal range

Spread-Adjusted Value

<80%

Effective IV 97.0% (ATM 47.6% + spread 24.7% + bias) — expensive

Execution Efficiency

<3.0%

Total drag 32.65% (spread 24.71% + slippage 7.94%) — high friction

Vega Efficiency

≥5.0

Vega efficiency 1.52 (vega 3.763 / spread 24.71%) — spread drag

Sentiment

Bullish or bearish?

7.3

BearishBullish

Analyzes

put/call ratios

open interest skew

, and flow direction to determine market bias.

Risk ChecksBullish - Strong signal (Conviction: +27%, Raw: +32%)

Flow Direction

|net sentiment| ≥25%

Conviction-weighted: +27% (bullish) — Raw: +32%

OI Skew Magnitude

≥15%

|OI skew| 30.7% — call-heavy

Volume-OI Alignment

Same sign, |vol skew| ≥10%

Vol skew +28.1%, OI skew +30.7% — 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: -10%, ATM: -4%, OTM: +69% — neutral (ITM/ATM aligned)

Sector Relative≤40% or ≥60%

Sector P/C percentile 20% — very bullish vs sector

Activity

Unusual activity?

7.0

QuietActive

Detects volume surges,

block trades

, and unusual options activity that may signal moves.

Risk Checks3/8 checks passed

Volume Surge

≥1.5x

Volume 6.8x avg — hot

Turnover Rate

≥15%

Vol/OI 26.5% — high turnover

Multi-Day Persistence

≥2 days

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

OI Build

≥5%

OI change +4.6% (5d) — building

Sector Relative≥60%

Sector activity percentile 94% — very active vs sector

Trade Quality

≥30%

Large trade volume 20% — mixed

Execution Urgency

≥60%

Aggressive execution 38% — patient

Flow Conviction

≥30

Conviction +27 (bullish) — mixed

Liquidity

Can I trade efficiently?

3.3

IlliquidLiquid

Evaluates

bid-ask spreads

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

Risk Checks3/8 checks passed

Tradeable Spread

≤5.0%

Spread 24.7% — wide

Adequate OI

≥10,000

OI 39,200 — adequate

Active Volume

≥500

Volume 10,374/day — active

Reasonable Cost

≤$0.50

$1.24 to cross — expensive

Strike Coverage

≥5 strikes

0 liquid strikes — limited options

Sector Relative≤40%

Sector spread percentile 89% — much wider than sector

Order Book Depth

≥100 contracts

Depth 534.0 contracts (bid:326.1 ask:207.9) — deep

Execution Quality

<1.0%

Avg slippage 7.94% — poor

Timing

Is now a good time?

7.9

RiskyFavorable

Considers earnings proximity,

time decay

, and event calendar for optimal entry timing.

Risk Checks8/9 checks passed

Term Structure Clarity

|slope| ≥5%

Slope +14.1% — backwardation

IV Percentile Clarity

<30 or >70

IV percentile 73% — seller opportunity

Event Detection

≥10pts kink

IV kink 7.0pts — no clear event

Theta/Vega Clarity

<0.5 or >2.0

θ/ν ratio 198.04 — favors income trades

Expiration Distribution

≥3 expirations

3 liquid expirations — flexible

Event Risk

≥60% (safe)

safe window: No earnings detected

Spread Momentum

<1.2 ratio

Spread ratio 1.00x — stable

Flow Momentum

≥25% strength + ≥50% consistency

Flow +27% @ 63% consistency — moderate (bullish)

Smart Money Timing

≥40 composite score

Score 50 (ITM 20% + inst 20%) — moderate institutional

Directional Strategy Fit

Option Buyers

Long Calls6.6

bullishIV fair, bullish flow

Long Puts4.1

bearishIV fair, bullish flow

Premium Sellers

Cash-Secured Put6.1

bullishIV fair, bullish flow

Covered Call4.5

bearishIV fair, bullish 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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