Options/PLNT

PLNTPlanet Fitness, Inc.

Options Analysis Report•SERVICES-MEMBERSHIP SPORTS & RECREATION CLUBS

Market Cap $3.8B|NYSE

● 2026-09-11$49.98

VERY BULLISH

Analysis: 2026-09-10 EOD data

1Y -51.7%YTD -54.5%7D -1.7%

Options Vol

1,225

30D

Implied Move

±8.6%

IV Rank

47%

PLNT Options Overview

bullish flow. Conditions favor premium sellers.

REWARDS

RISK ANALYSIS

Snowflake Analysis

Balanced conditions with no clear edge

Learn

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PLNT Gamma Walls

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Value

Is IV priced right?

5.4

ExpensiveCheap

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

levels.

Risk Checks3/9 checks passed

IV Rank

≤35%

IV Rank 63.9% — elevated vs history

IV/HV Ratio

<1.05x

IV/HV 1.20x — IV premium over HV

Sector Relative≤50%

Sector percentile 51% — above sector median

Term Structure

<1.1x

Front/Back 0.94x — contango

Skew Normal

<1.25x

Put/Call IV 1.16x — elevated

Absolute IV

<80%

ATM IV 43.5% — normal range

Spread-Adjusted Value

<80%

Effective IV 80.7% (ATM 43.5% + spread 18.6% + bias) — expensive

Execution Efficiency

<3.0%

Total drag 29.64% (spread 18.62% + slippage 11.02%) — high friction

Vega Efficiency

≥5.0

Vega efficiency 1.58 (vega 2.950 / spread 18.62%) — spread drag

Sentiment

Bullish or bearish?

6.9

BearishBullish

Analyzes

put/call ratios

open interest skew

, and flow direction to determine market bias.

Risk ChecksBullish - Strong signal (Conviction: +13%, Raw: +30%)

Flow Direction

|net sentiment| ≥25%

Conviction-weighted: +13% (bullish) — Raw: +30%

OI Skew Magnitude

≥15%

|OI skew| 57.3% — call-heavy

Volume-OI Alignment

Same sign, |vol skew| ≥10%

Vol skew +87.3%, OI skew +57.3% — 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: +0%, ATM: -95%, OTM: +55% — strong bearish (ITM/ATM divergent)

Sector Relative≤40% or ≥60%

Sector P/C percentile 4% — very bullish vs sector

Activity

Unusual activity?

4.2

QuietActive

Detects volume surges,

block trades

, and unusual options activity that may signal moves.

Risk Checks2/8 checks passed

Volume Surge

≥1.5x

Volume 0.8x avg — normal

Turnover Rate

≥15%

Vol/OI 3.4% — normal turnover

Multi-Day Persistence

≥2 days

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

OI Build

≥5%

OI change +9.1% (5d) — building

Sector Relative≥60%

Sector activity percentile 60% — neutral vs sector

Trade Quality

≥30%

Large trade volume 67% — heavy institutional

Execution Urgency

≥60%

Aggressive execution 45% — patient

Flow Conviction

≥30

Conviction +13 (bullish) — mixed

Liquidity

Can I trade efficiently?

2.9

IlliquidLiquid

Evaluates

bid-ask spreads

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

Risk Checks3/8 checks passed

Tradeable Spread

≤5.0%

Spread 18.6% — wide

Adequate OI

≥10,000

OI 36,036 — adequate

Active Volume

≥500

Volume 1,225/day — adequate

Reasonable Cost

≤$0.50

$0.93 to cross — expensive

Strike Coverage

≥5 strikes

0 liquid strikes — limited options

Sector Relative≤40%

Sector spread percentile 73% — wider than sector

Order Book Depth

≥100 contracts

Depth 132.2 contracts (bid:44.3 ask:87.9) — adequate

Execution Quality

<1.0%

Avg slippage 11.02% — 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 -5.8% — contango

IV Percentile Clarity

<30 or >70

IV percentile 64% — neutral

Event Detection

≥10pts kink

IV kink -1.7pts — no clear event

Theta/Vega Clarity

<0.5 or >2.0

θ/ν ratio 37.35 — favors income trades

Expiration Distribution

≥3 expirations

4 liquid expirations — flexible

Event Risk

≥60% (safe)

caution advised: FOMC in 5d; CPI in 0d (HIGH)

Spread Momentum

<1.2 ratio

Spread ratio 1.00x — stable

Flow Momentum

≥25% strength + ≥50% consistency

Flow +13% @ 56% consistency — unclear

Smart Money Timing

≥40 composite score

Score 97 (ITM 20% + inst 67%) — HIGH institutional

Directional Strategy Fit

Option Buyers

Long Calls5.7

bullishIV fair, bullish flow

Long Puts4.4

bearishIV fair, bullish flow

Premium Sellers

Cash-Secured Put5.4

bullishIV fair, bullish flow

Covered Call4.0

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 Sep 7, 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 PLNT

PLNT gamma walls PLNT option chain PLNT max pain PLNT expected move PLNT IV rank PLNT put/call ratio PLNT options flow