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SHAKShake Shack Inc.

Options Analysis Report•RETAIL-EATING & DRINKING PLACES
Market Cap $2.8B|NYSE
● 2026-08-31$69.89
NEUTRAL
Analysis: 2026-08-28 EOD data
1Y -33.8%YTD -16.3%7D -7.4%
2,126
30D
±11.6%
0%

SHAK Options Overview

unusual activity. Conditions favor premium sellers.

REWARDS

RISK ANALYSIS

5.4VALUESENTIMENTACTIVITYLIQUIDITYTIMING

Snowflake Analysis

Balanced conditions with no clear edge

Learn
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SHAK Gamma Walls

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Value

Is IV priced right?

7.5
ExpensiveCheap

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

levels.

Risk Checks6/9 checks passed
≤35%

IV Rank 67.5% — elevated vs history

<1.05x

IV/HV 0.76x — IV ≤ HV

Sector Relative≤50%

Sector percentile 60% — above sector median

<1.1x

Front/Back 0.75x — contango

<1.25x

Put/Call IV 1.16x — elevated

<80%

ATM IV 43.0% — normal range

<80%

Effective IV 67.2% (ATM 43.0% + spread 12.1% + bias) — fair

<3.0%

Total drag 17.29% (spread 12.12% + slippage 5.17%) — high friction

≥5.0

Vega efficiency 5.38 (vega 6.516 / spread 12.12%) — acceptable

Sentiment

Bullish or bearish?

5.0
BearishBullish

Analyzes

,
, and flow direction to determine market bias.

Risk ChecksBullish - Strong signal (Conviction: +28%, Raw: +20%)
|net sentiment| ≥25%

Conviction-weighted: +28% (bullish) — Raw: +20%

≥15%

|OI skew| 14.0% — balanced

Same sign, |vol skew| ≥10%

Vol skew -10.8%, OI skew -14.0% — aligned

≥2/3 conditions

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

|change| ≥3%

OI change +0.0% (5d) — stable

|weighted flow| ≥20%

ITM: +16%, ATM: +43%, OTM: -6% — strong bullish (ITM/ATM aligned)

Sector Relative≤40% or ≥60%

Sector P/C percentile 77% — very bearish vs sector

Activity

Unusual activity?

3.3
QuietActive

Detects volume surges,

, and unusual options activity that may signal moves.

Risk Checks1/8 checks passed
≥1.5x

Volume 0.5x avg — normal

≥15%

Vol/OI 3.5% — normal turnover

≥2 days

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

≥5%

OI change -0.1% (5d) — stable

Sector Relative≥60%

Sector activity percentile 66% — active vs sector

≥30%

Large trade volume 5% — mostly retail

≥60%

Aggressive execution 33% — patient

≥30

Conviction +28 (bullish) — mixed

Liquidity

Can I trade efficiently?

3.4
IlliquidLiquid

Evaluates

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

Risk Checks3/8 checks passed
≤5.0%

Spread 12.1% — wide

≥10,000

OI 60,170 — deep

≥500

Volume 2,126/day — adequate

≤$0.50

$0.61 to cross — expensive

≥5 strikes

0 liquid strikes — limited options

Sector Relative≤40%

Sector spread percentile 78% — wider than sector

≥100 contracts

Depth 145.3 contracts (bid:79.7 ask:65.6) — adequate

<1.0%

Avg slippage 5.17% — poor

Timing

Is now a good time?

7.7
RiskyFavorable

Considers earnings proximity,

, and event calendar for optimal entry timing.

Risk Checks6/9 checks passed
|slope| ≥5%

Slope -25.0% — contango

<30 or >70

IV percentile 68% — neutral

≥10pts kink

IV kink -7.7pts — no clear event

<0.5 or >2.0

θ/ν ratio 81.96 — favors income trades

≥3 expirations

5 liquid expirations — flexible

≥60% (safe)

safe window: No events detected

<1.2 ratio

Spread ratio 1.00x — stable

≥25% strength + ≥50% consistency

Flow +28% @ 64% consistency — moderate (bullish)

≥40 composite score

Score 35 (ITM 20% + inst 5%) — retail dominated

Directional Strategy Fit

Option Buyers
Long Calls6.0
bullishIV cheap, mixed flow
Long Puts6.0
bearishIV cheap, mixed flow
Premium Sellers
Cash-Secured Put4.3
bullishIV too cheap, mixed flow
Covered Call4.3
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 Aug 31, 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.

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