PRAXPraxis Precision Medicines, Inc. Common Stock
Options Analysis Report•PHARMACEUTICAL PREPARATIONS
Market Cap $9.6B|NASDAQ
● 2026-05-15$345.52
NEUTRAL
Analysis: 2026-05-14 EOD data
1Y +828.8%YTD +20.6%7D +4.7%
Options Vol
62
30D
Implied Move
±8.6%
IV Rank
2%
PRAX Options Overview
IV is elevated. Conditions favor premium sellers.
REWARDS
RISK ANALYSIS
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Value
Is IV priced right?
5.3
ExpensiveCheap
Measures whether options are cheap, fair, or rich relative to historical and peer
IV
levels.Risk Checks4/9 checks passed
IV Rank
≤35%IV Rank 80.8% — elevated vs history
IV/HV Ratio
<1.05xIV/HV 1.71x — IV premium over HV
Sector Relative≤50%
Sector percentile 57% — above sector median
Term Structure
<1.1xFront/Back 1.00x — contango
Skew Normal
<1.25xPut/Call IV 1.16x — elevated
Absolute IV
<80%ATM IV 72.2% — normal range
Spread-Adjusted Value
<80%Effective IV 115.0% (ATM 72.2% + spread 21.4% + bias) — expensive
Execution Efficiency
<3.0%Total drag 39.95% (spread 21.39% + slippage 18.56%) — high friction
Vega Efficiency
≥5.0Vega efficiency 26.34 (vega 56.338 / spread 21.39%) — efficient
Sentiment
Bullish or bearish?
4.7
BearishBullish
Analyzes
put/call ratios
, open interest skew
, and flow direction to determine market bias.Risk ChecksNeutral - Moderate signal (Conviction: -4%, Raw: +24%)
Flow Direction
|net sentiment| ≥25%Conviction-weighted: -4% (neutral) — Raw: +24%
OI Skew Magnitude
≥15%|OI skew| 61.6% — put-heavy
Volume-OI Alignment
Same sign, |vol skew| ≥10%Vol skew +0.0%, OI skew -61.6% — weak (same direction)
Conviction Quality
≥2/3 conditions0-DTE 52%, far-OTM 15%, avg DTE 30
OI Momentum
|change| ≥3%OI change +0.0% (5d) — stable
Smart Money Flow
|weighted flow| ≥20%ITM: -33%, ATM: -29%, OTM: +70% — strong bearish (ITM/ATM aligned)
Sector Relative≤40% or ≥60%
Sector P/C percentile 65% — bearish vs sector
Activity
Unusual activity?
2.0
QuietActive
Detects volume surges,
block trades
, and unusual options activity that may signal moves.Risk Checks0/9 checks passed
Volume Surge
≥1.5xVolume 0.3x avg — normal
Turnover Rate
≥15%Vol/OI 0.5% — 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 +2.0% (5d) — stable
Sector Relative≥60%
Sector activity percentile 21% — below sector avg
Trade Quality
≥30%Large trade volume 0% — mostly retail
Execution Urgency
≥60%Aggressive execution 40% — patient
Flow Conviction
≥30Conviction -4 (bearish) — mixed
Liquidity
Can I trade efficiently?
2.4
IlliquidLiquid
Evaluates
bid-ask spreads
, volume depth, and open interest for trade execution quality.Risk Checks1/8 checks passed
Tradeable Spread
≤5.0%Spread 21.4% — wide
Adequate OI
≥10,000OI 11,343 — adequate
Active Volume
≥500Volume 62/day — thin
Reasonable Cost
≤$0.50$1.07 to cross — expensive
Strike Coverage
≥5 strikes0 liquid strikes — limited options
Sector Relative≤40%
Sector spread percentile 82% — much wider than sector
Order Book Depth
≥100 contractsDepth 21.5 contracts (bid:10.5 ask:11.0) — thin
Execution Quality
<1.0%Avg slippage 18.56% — poor
Timing
Is now a good time?
6.1
RiskyFavorable
Considers earnings proximity,
time decay
, and event calendar for optimal entry timing.Risk Checks5/9 checks passed
Term Structure Clarity
|slope| ≥5%Slope -0.3% — flat/unclear
IV Percentile Clarity
<30 or >70IV percentile 81% — seller opportunity
Event Detection
≥10pts kinkIV kink 1.1pts — no clear event
Theta/Vega Clarity
<0.5 or >2.0θ/ν ratio 181.21 — favors income trades
Expiration Distribution
≥3 expirations3 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 -4% @ 52% consistency — unclear
Smart Money Timing
≥40 composite scoreScore 30 (ITM 20% + inst 0%) — retail dominated
Directional Strategy Fit
Option Buyers
Long Calls4.8
bullishIV fair, mixed flow
Long Puts5.0
bearishIV fair, mixed flow
Premium Sellers
Cash-Secured Put4.4
bullishIV fair, mixed flow
Covered Call4.6
bearishIV fair, mixed flow
For educational purposes only. Not investment advice.