Options/PATH

PATHUiPath, Inc.

Options Analysis Report•SERVICES-PREPACKAGED SOFTWARE

Market Cap $9.4B|NYSE

● 2026-08-28$18.15

BULLISH

Analysis: 2026-08-27 EOD data

1Y +63.2%YTD +14.3%7D +10.7%

Options Vol

80,549

30D

Implied Move

±25.6%

IV Rank

19%

PATH Options Overview

IV is elevated with bullish flow and unusual activity. Conditions favor premium sellers.

REWARDS

RISK ANALYSIS

Snowflake Analysis

Favorable conditions for premium sellers

Learn

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PATH Gamma Walls

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Value

Is IV priced right?

2.2

ExpensiveCheap

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

levels.

Risk Checks1/9 checks passed

IV Rank

≤35%

IV Rank 92.2% — elevated vs history

IV/HV Ratio

<1.05x

IV/HV 1.42x — IV premium over HV

Sector Relative≤50%

Sector percentile 87% — above sector median

Term Structure

<1.1x

Front/Back 1.68x — backwardation

Skew Normal

<1.25x

Put/Call IV 1.16x — elevated

Absolute IV

<80%

ATM IV 85.2% — crisis-level IV

Spread-Adjusted Value

<80%

Effective IV 103.0% (ATM 85.2% + spread 8.9% + bias) — expensive

Execution Efficiency

<3.0%

Total drag 13.28% (spread 8.88% + slippage 4.40%) — high friction

Vega Efficiency

≥5.0

Vega efficiency 1.21 (vega 1.079 / spread 8.88%) — spread drag

Sentiment

Bullish or bearish?

6.4

BearishBullish

Analyzes

put/call ratios

open interest skew

, and flow direction to determine market bias.

Risk ChecksNeutral - Strong signal (Conviction: -4%, Raw: +6%)

Flow Direction

|net sentiment| ≥25%

Conviction-weighted: -4% (neutral) — Raw: +6%

OI Skew Magnitude

≥15%

|OI skew| 35.6% — call-heavy

Volume-OI Alignment

Same sign, |vol skew| ≥10%

Vol skew +66.1%, OI skew +35.6% — aligned

Conviction Quality

≥2/3 conditions

0-DTE 38%, far-OTM 15%, avg DTE 30

OI Momentum

|change| ≥3%

OI change +0.0% (5d) — stable

Smart Money Flow

|weighted flow| ≥20%

ITM: -12%, ATM: -22%, OTM: +22% — bearish (ITM/ATM aligned)

Sector Relative≤40% or ≥60%

Sector P/C percentile 30% — bullish vs sector

Activity

Unusual activity?

5.5

QuietActive

Detects volume surges,

block trades

, and unusual options activity that may signal moves.

Risk Checks2/8 checks passed

Volume Surge

≥1.5x

Volume 1.9x avg — elevated

Turnover Rate

≥15%

Vol/OI 13.0% — normal turnover

Multi-Day Persistence

≥2 days

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

OI Build

≥5%

OI change -13.9% (5d) — unwinding

Sector Relative≥60%

Sector activity percentile 88% — very active vs sector

Trade Quality

≥30%

Large trade volume 27% — mixed

Execution Urgency

≥60%

Aggressive execution 42% — patient

Flow Conviction

≥30

Conviction -4 (bearish) — mixed

Liquidity

Can I trade efficiently?

4.9

IlliquidLiquid

Evaluates

bid-ask spreads

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

Risk Checks4/8 checks passed

Tradeable Spread

≤5.0%

Spread 8.9% — wide

Adequate OI

≥10,000

OI 619,549 — deep

Active Volume

≥500

Volume 80,549/day — active

Reasonable Cost

≤$0.50

$0.44 to cross — cheap

Strike Coverage

≥5 strikes

0 liquid strikes — limited options

Sector Relative≤40%

Sector spread percentile 92% — much wider than sector

Order Book Depth

≥100 contracts

Depth 655.2 contracts (bid:454.4 ask:200.8) — deep

Execution Quality

<1.0%

Avg slippage 4.40% — 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 +68.0% — backwardation

IV Percentile Clarity

<30 or >70

IV percentile 92% — seller opportunity

Event Detection

≥10pts kink

IV kink 43.2pts — event priced

Theta/Vega Clarity

<0.5 or >2.0

θ/ν ratio 13.67 — favors income trades

Expiration Distribution

≥3 expirations

5 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 -4% @ 52% consistency — unclear

Smart Money Timing

≥40 composite score

Score 57 (ITM 20% + inst 27%) — moderate institutional

Directional Strategy Fit

Option Buyers

Long Calls4.9

bullishIV expensive, bullish flow

Long Puts3.9

bearishIV expensive, bullish flow

Premium Sellers

Cash-Secured Put7.0

bullishIV rich premium, bullish flow

Covered Call5.8

bearishIV rich premium, bullish flow

For educational purposes only. Not investment advice.

Earnings · week of Aug 31

Options price a ±13.7% move into PATH's Sep 3 earnings

PATH reports on Thursday, September 3 after the close. The at-the-money straddle covering that report prices a ±13.7% move — roughly $15.66 to $20.64 from $18.15. PATH has averaged ±9.4% on its last 7 earnings reactions (biggest: 24%), so this print is priced at 1.5× its own history.

1.5× RICHimplied ±13.7%history ±9.4%Sep 4 expiry

See the implied move for every US stock reporting the week of Aug 31

Implied move = the live at-the-money straddle for the expiry covering the report (Sep 4); it shifts intraday. Historical move = the average of PATH’s own 1-day earnings reactions over its last reported quarters — a reference, not a forecast.