IV is elevated with unusual activity. Conditions favor premium sellers.
Is IV priced right?
Measures whether options are cheap, fair, or rich relative to historical and peer
IV Rank 96.8% — elevated vs history
IV/HV 0.96x — IV ≤ HV
Sector percentile 97% — above sector median
Front/Back 1.11x — backwardation
Put/Call IV 1.16x — elevated
ATM IV 134.5% — crisis-level IV
Effective IV 177.9% (ATM 134.5% + spread 21.7% + bias) — expensive
Total drag 31.66% (spread 21.72% + slippage 9.94%) — high friction
Vega efficiency 3.57 (vega 7.754 / spread 21.72%) — spread drag
Bullish or bearish?
Analyzes
Conviction-weighted: -22% (bearish) — Raw: -27%
|OI skew| 29.2% — call-heavy
Vol skew +54.5%, OI skew +29.2% — aligned
0-DTE 27%, far-OTM 15%, avg DTE 30
OI change +0.0% (5d) — stable
ITM: -21%, ATM: +8%, OTM: -32% — neutral (ITM/ATM divergent)
Sector P/C percentile 28% — very bullish vs sector
Unusual activity?
Detects volume surges,
Volume 2.0x avg — elevated
Vol/OI 15.1% — high turnover
Top 3 strikes = 50% — dispersed
3 day(s) elevated — sustained
OI change +14.9% (5d) — building
Sector activity percentile 91% — very active vs sector
Large trade volume 22% — mixed
Aggressive execution 24% — patient
Conviction -22 (bearish) — mixed
Can I trade efficiently?
Evaluates
Spread 21.7% — wide
OI 17,695 — adequate
Volume 2,675/day — adequate
$1.09 to cross — expensive
1 liquid strikes — limited options
Sector spread percentile 98% — much wider than sector
Depth 1,219.1999999999998 contracts (bid:651.9 ask:567.3) — deep
Avg slippage 9.94% — poor
Is now a good time?
Considers earnings proximity,
Slope +10.5% — backwardation
IV percentile 97% — seller opportunity
IV kink 12.0pts — event priced
θ/ν ratio 435.60 — favors income trades
3 liquid expirations — flexible
safe window: No earnings detected
Spread ratio 1.00x — stable
Flow -22% @ 61% consistency — unclear
Score 52 (ITM 20% + inst 22%) — moderate institutional
For educational purposes only. Not investment advice.