RJFRaymond James Financial, Inc.
Options Analysis Report•SECURITY BROKERS, DEALERS & FLOTATION COMPANIES
Market Cap $29.9B|NYSE
● 2026-04-17$151.75
NEUTRAL
Analysis: 2026-04-16 EOD data
1Y +16.0%YTD -7.2%7D +3.8%
Options Vol
44
30D
Implied Move
±8.9%
IV Rank
8%
RJF Options Overview
Mixed signals. No clear edge detected.
REWARDS
RISK ANALYSIS
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Value
Is IV priced right?
6.1
ExpensiveCheap
Measures whether options are cheap, fair, or rich relative to historical and peer
IV
levels.Risk Checks3/9 checks passed
IV Rank
≤35%IV Rank 36.5% — elevated vs history
IV/HV Ratio
<1.05xIV/HV 1.20x — IV premium over HV
Sector Relative≤50%
Sector percentile 55% — above sector median
Term Structure
<1.1xFront/Back 1.04x — flat
Skew Normal
<1.25xPut/Call IV 1.16x — elevated
Absolute IV
<80%ATM IV 32.5% — normal range
Spread-Adjusted Value
<80%Effective IV 123.5% (ATM 32.5% + spread 45.5% + bias) — expensive
Execution Efficiency
<3.0%Total drag 68.24% (spread 45.52% + slippage 22.72%) — high friction
Vega Efficiency
≥5.0Vega efficiency 0.68 (vega 3.093 / spread 45.52%) — spread drag
Sentiment
Bullish or bearish?
4.3
BearishBullish
Analyzes
put/call ratios
, open interest skew
, and flow direction to determine market bias.Risk ChecksVery Bearish - Strong signal (Conviction: -62%, Raw: -58%)
Flow Direction
|net sentiment| ≥25%Conviction-weighted: -62% (strong bearish) — Raw: -58%
OI Skew Magnitude
≥15%|OI skew| 40.2% — call-heavy
Volume-OI Alignment
Same sign, |vol skew| ≥10%Vol skew +27.3%, OI skew +40.2% — aligned
Conviction Quality
≥2/3 conditions0-DTE 46%, 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: -50%, OTM: -62% — bearish (ITM/ATM divergent)
Sector Relative≤40% or ≥60%
Sector P/C percentile 34% — bullish vs sector
Activity
Unusual activity?
3.1
QuietActive
Detects volume surges,
block trades
, and unusual options activity that may signal moves.Risk Checks2/9 checks passed
Volume Surge
≥1.5xVolume 0.3x avg — normal
Turnover Rate
≥15%Vol/OI 0.6% — 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 +5.7% (5d) — building
Sector Relative≥60%
Sector activity percentile 4% — quiet vs sector
Trade Quality
≥30%Large trade volume 0% — mostly retail
Execution Urgency
≥60%Aggressive execution 41% — patient
Flow Conviction
≥30Conviction -62 (bearish) — strong conviction
Liquidity
Can I trade efficiently?
2.5
IlliquidLiquid
Evaluates
bid-ask spreads
, volume depth, and open interest for trade execution quality.Risk Checks0/8 checks passed
Tradeable Spread
≤5.0%Spread 45.5% — wide
Adequate OI
≥10,000OI 7,362 — thin
Active Volume
≥500Volume 44/day — thin
Reasonable Cost
≤$0.50$2.28 to cross — expensive
Strike Coverage
≥5 strikes0 liquid strikes — limited options
Sector Relative≤40%
Sector spread percentile 57% — neutral vs sector
Order Book Depth
≥100 contractsDepth 62.5 contracts (bid:31.4 ask:31.1) — thin
Execution Quality
<1.0%Avg slippage 22.72% — poor
Timing
Is now a good time?
6.4
RiskyFavorable
Considers earnings proximity,
time decay
, and event calendar for optimal entry timing.Risk Checks4/9 checks passed
Term Structure Clarity
|slope| ≥5%Slope +3.7% — flat/unclear
IV Percentile Clarity
<30 or >70IV percentile 36% — neutral
Event Detection
≥10pts kinkIV kink 1.0pts — no clear event
Theta/Vega Clarity
<0.5 or >2.0θ/ν ratio 3.11 — favors income trades
Expiration Distribution
≥3 expirations3 liquid expirations — flexible
Event Risk
≥60% (safe)caution advised: Earnings in 5d (elevated risk)
Spread Momentum
<1.2 ratioSpread ratio 1.00x — stable
Flow Momentum
≥25% strength + ≥50% consistencyFlow -62% @ 80% consistency — STRONG directional (bearish)
Smart Money Timing
≥40 composite scoreScore 30 (ITM 20% + inst 0%) — retail dominated
Directional Strategy Fit
Option Buyers
Long Calls5.0
bullishIV cheap, mixed flow
Long Puts5.5
bearishIV cheap, mixed flow
Premium Sellers
Cash-Secured Put4.1
bullishIV too cheap, mixed flow
Covered Call4.6
bearishIV too cheap, mixed flow
For educational purposes only. Not investment advice.