Options/RSP

RSPInvesco S&P 500 Equal Weight ETF

Options Analysis Report

AUM $98.6B|ARCX

● 2026-09-11$213.17

BEARISH

Analysis: 2026-09-10 EOD data

1Y +12.0%YTD +10.5%7D -2.7%

Options Vol

33,373

30D

Implied Move

±4.1%

IV Rank

13%

RSP Options Overview

IV is low with bearish flow and unusual activity. Conditions favor option buyers.

REWARDS

RISK ANALYSIS

Snowflake Analysis

Favorable conditions for option buyers

Learn

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RSP Gamma Walls

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RSP Hedge Radar

Neutral

Full Hedge Radar

Neither score is at an extreme today. Neither axis is a forecast — this is where RSP sits on protection cost vs. fragility today.

Protection is priced in the cheap band (3.89) — downside puts carry 0.5 IV points more than at-the-money, and options are pricing vol 70% above what the stock has actually been realizing, measured against this name's own rolling 20-trading-day realized moves (484 overlapping windows). Fragility reads neutral (5.51): it is trading 2% below its hedge wall on a wall graded HIGH for reliability, and its realized-vol regime is stable.

Protection cost

3.89/ 10cheap

Basis: cross_sectional

Fragility

5.51/ 10neutral

Basis: per_ticker

Value

Is IV priced right?

7.6

ExpensiveCheap

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

levels.

Risk Checks7/9 checks passed

IV Rank

≤35%

IV Rank 11.6% — cheap vs history

IV/HV Ratio

<1.05x

IV/HV 1.70x — IV premium over HV

Sector Relative≤50%

Sector percentile 20% — below sector median

Term Structure

<1.1x

Front/Back 1.00x — flat

Skew Normal

<1.25x

Put/Call IV 1.16x — elevated

Absolute IV

<80%

ATM IV 17.1% — normal range

Spread-Adjusted Value

<80%

Effective IV 49.8% (ATM 17.1% + spread 16.3% + bias) — excellent value

Execution Efficiency

<3.0%

Total drag 22.08% (spread 16.34% + slippage 5.74%) — high friction

Vega Efficiency

≥5.0

Vega efficiency 17.89 (vega 29.239 / spread 16.34%) — efficient

Sentiment

Bullish or bearish?

5.1

BearishBullish

Analyzes

put/call ratios

open interest skew

, and flow direction to determine market bias.

Risk ChecksVery Bullish - Strong signal (Conviction: +46%, Raw: +35%)

Flow Direction

|net sentiment| ≥25%

Conviction-weighted: +46% (strong bullish) — Raw: +35%

OI Skew Magnitude

≥15%

|OI skew| 36.8% — put-heavy

Volume-OI Alignment

Same sign, |vol skew| ≥10%

Vol skew -85.1%, OI skew -36.8% — aligned

Conviction Quality

≥2/3 conditions

0-DTE 8%, far-OTM 15%, avg DTE 30

OI Momentum

|change| ≥3%

OI change +0.0% (5d) — stable

Smart Money Flow

|weighted flow| ≥20%

ITM: -41%, ATM: +2%, OTM: +81% — bearish (ITM/ATM divergent)

Sector Relative≤40% or ≥60%

Sector P/C percentile 98% — very bearish vs sector

Activity

Unusual activity?

6.3

QuietActive

Detects volume surges,

block trades

, and unusual options activity that may signal moves.

Risk Checks4/8 checks passed

Volume Surge

≥1.5x

Volume 2.8x avg — hot

Turnover Rate

≥15%

Vol/OI 10.1% — normal turnover

Multi-Day Persistence

≥2 days

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

OI Build

≥5%

OI change -1.2% (5d) — stable

Sector Relative≥60%

Sector activity percentile 84% — very active vs sector

Trade Quality

≥30%

Large trade volume 74% — heavy institutional

Execution Urgency

≥60%

Aggressive execution 45% — patient

Flow Conviction

≥30

Conviction +46 (bullish) — moderate

Liquidity

Can I trade efficiently?

4.3

IlliquidLiquid

Evaluates

bid-ask spreads

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

Risk Checks4/8 checks passed

Tradeable Spread

≤5.0%

Spread 16.3% — wide

Adequate OI

≥10,000

OI 329,467 — deep

Active Volume

≥500

Volume 33,373/day — active

Reasonable Cost

≤$0.50

$0.82 to cross — expensive

Strike Coverage

≥5 strikes

0 liquid strikes — limited options

Sector Relative≤40%

Sector spread percentile 40% — tighter than sector

Order Book Depth

≥100 contracts

Depth 296.0 contracts (bid:160.9 ask:135.1) — adequate

Execution Quality

<1.0%

Avg slippage 5.74% — poor

Timing

Is now a good time?

6.4

RiskyFavorable

Considers earnings proximity,

time decay

, and event calendar for optimal entry timing.

Risk Checks6/9 checks passed

Term Structure Clarity

|slope| ≥5%

Slope +0.0% — flat/unclear

IV Percentile Clarity

<30 or >70

IV percentile 12% — buyer opportunity

Event Detection

≥10pts kink

IV kink 0.9pts — no clear event

Theta/Vega Clarity

<0.5 or >2.0

θ/ν ratio 538.47 — favors income trades

Expiration Distribution

≥3 expirations

5 liquid expirations — flexible

Event Risk

≥60% (safe)

caution advised: No earnings detected; FOMC in 5d; CPI in 0d (HIGH)

Spread Momentum

<1.2 ratio

Spread ratio 1.00x — stable

Flow Momentum

≥25% strength + ≥50% consistency

Flow +46% @ 73% consistency — STRONG directional (bullish)

Smart Money Timing

≥40 composite score

Score 104 (ITM 20% + inst 74%) — HIGH institutional

Directional Strategy Fit

Option Buyers

Long Calls6.0

bullishIV cheap, mixed flow

Long Puts6.6

bearishIV cheap, mixed flow

Premium Sellers

Cash-Secured Put4.3

bullishIV too cheap, mixed flow

Covered Call4.2

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 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 RSP

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