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PIImpinj, Inc. Common Stock

Options Analysis Report•ELECTRONIC COMPONENTS, NEC
Market Cap $5.2B|NASDAQ
● 2026-08-31$170.06
NEUTRAL
Analysis: 2026-08-28 EOD data
1Y -8.4%YTD -5.4%7D +5.6%
132
30D
±15.9%
0%

PI Options Overview

IV is elevated. Conditions favor premium sellers.

REWARDS

RISK ANALYSIS

5.0VALUESENTIMENTACTIVITYLIQUIDITYTIMING

Snowflake Analysis

Favorable conditions for premium sellers

Learn
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PI Gamma Walls

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Value

Is IV priced right?

6.0
ExpensiveCheap

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

levels.

Risk Checks4/9 checks passed
≤35%

IV Rank 85.7% — elevated vs history

<1.05x

IV/HV 1.08x — IV premium over HV

Sector Relative≤50%

Sector percentile 66% — above sector median

<1.1x

Front/Back 0.82x — contango

<1.25x

Put/Call IV 1.16x — elevated

<80%

ATM IV 63.6% — normal range

<80%

Effective IV 99.4% (ATM 63.6% + spread 17.9% + bias) — expensive

<3.0%

Total drag 24.41% (spread 17.90% + slippage 6.51%) — high friction

≥5.0

Vega efficiency 20.48 (vega 36.666 / spread 17.90%) — efficient

Sentiment

Bullish or bearish?

4.7
BearishBullish

Analyzes

,
, and flow direction to determine market bias.

Risk ChecksVery Bearish - Moderate signal (Conviction: -49%, Raw: -45%)
|net sentiment| ≥25%

Conviction-weighted: -49% (strong bearish) — Raw: -45%

≥15%

|OI skew| 8.4% — balanced

Same sign, |vol skew| ≥10%

Vol skew +63.6%, OI skew +8.4% — aligned

≥2/3 conditions

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

|change| ≥3%

OI change +0.0% (5d) — stable

|weighted flow| ≥20%

ITM: -75%, ATM: +100%, OTM: -48% — neutral (ITM/ATM divergent)

Sector Relative≤40% or ≥60%

Sector P/C percentile 29% — very bullish vs sector

Activity

Unusual activity?

4.4
QuietActive

Detects volume surges,

, and unusual options activity that may signal moves.

Risk Checks2/8 checks passed
≥1.5x

Volume 0.6x avg — normal

≥15%

Vol/OI 3.1% — normal turnover

≥2 days

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

≥5%

OI change +5.7% (5d) — building

Sector Relative≥60%

Sector activity percentile 54% — neutral vs sector

≥30%

Large trade volume 0% — mostly retail

≥60%

Aggressive execution 57% — patient

≥30

Conviction -49 (bearish) — moderate

Liquidity

Can I trade efficiently?

2.4
IlliquidLiquid

Evaluates

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

Risk Checks0/8 checks passed
≤5.0%

Spread 17.9% — wide

≥10,000

OI 4,237 — thin

≥500

Volume 132/day — thin

≤$0.50

$0.90 to cross — expensive

≥5 strikes

0 liquid strikes — limited options

Sector Relative≤40%

Sector spread percentile 80% — wider than sector

≥100 contracts

Depth 43.0 contracts (bid:30.7 ask:12.3) — thin

<1.0%

Avg slippage 6.51% — poor

Timing

Is now a good time?

7.3
RiskyFavorable

Considers earnings proximity,

, and event calendar for optimal entry timing.

Risk Checks7/9 checks passed
|slope| ≥5%

Slope -18.1% — contango

<30 or >70

IV percentile 86% — seller opportunity

≥10pts kink

IV kink -7.9pts — no clear event

<0.5 or >2.0

θ/ν ratio 310.73 — 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 -49% @ 75% consistency — STRONG directional (bearish)

≥40 composite score

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

Directional Strategy Fit

Option Buyers
Long Calls5.2
bullishIV cheap, mixed flow
Long Puts5.4
bearishIV cheap, mixed flow
Premium Sellers
Cash-Secured Put4.4
bullishIV too cheap, mixed flow
Covered Call4.6
bearishIV too cheap, mixed 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.

More on PI

PI gamma wallsPI max painPI IV rankPI options flow