SHOOSteven Madden Ltd
Options Analysis Report•FOOTWEAR, (NO RUBBER)
Market Cap $2.9B|NASDAQ
● 2026-05-15$39.49
NEUTRAL
Analysis: 2026-05-14 EOD data
1Y +48.8%YTD -6.4%7D -2.8%
Options Vol
47
30D
Implied Move
±8.6%
IV Rank
11%
SHOO Options Overview
Mixed signals. No clear edge detected.
REWARDS
RISK ANALYSIS
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Value
Is IV priced right?
5.9
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 61.0% — elevated vs history
IV/HV Ratio
<1.05xIV/HV 1.21x — IV premium over HV
Sector Relative≤50%
Sector percentile 52% — above sector median
Term Structure
<1.1xFront/Back 0.93x — contango
Skew Normal
<1.25xPut/Call IV 1.16x — elevated
Absolute IV
<80%ATM IV 50.0% — normal range
Spread-Adjusted Value
<80%Effective IV 107.9% (ATM 50.0% + spread 29.0% + bias) — expensive
Execution Efficiency
<3.0%Total drag 40.38% (spread 28.97% + slippage 11.41%) — high friction
Vega Efficiency
≥5.0Vega efficiency 4.36 (vega 12.620 / spread 28.97%) — spread drag
Sentiment
Bullish or bearish?
3.6
BearishBullish
Analyzes
put/call ratios
, open interest skew
, and flow direction to determine market bias.Risk ChecksVery Bearish - Strong signal (Conviction: -84%, Raw: -87%)
Flow Direction
|net sentiment| ≥25%Conviction-weighted: -84% (strong bearish) — Raw: -87%
OI Skew Magnitude
≥15%|OI skew| 66.1% — call-heavy
Volume-OI Alignment
Same sign, |vol skew| ≥10%Vol skew +61.7%, OI skew +66.1% — aligned
Conviction Quality
≥2/3 conditions0-DTE 0%, 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: +0%, OTM: -100% — neutral (ITM/ATM divergent)
Sector Relative≤40% or ≥60%
Sector P/C percentile 30% — very bullish vs sector
Activity
Unusual activity?
2.4
QuietActive
Detects volume surges,
block trades
, and unusual options activity that may signal moves.Risk Checks1/9 checks passed
Volume Surge
≥1.5xVolume 0.0x avg — normal
Turnover Rate
≥15%Vol/OI 0.1% — 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 +1.9% (5d) — stable
Sector Relative≥60%
Sector activity percentile 5% — quiet vs sector
Trade Quality
≥30%Large trade volume 0% — mostly retail
Execution Urgency
≥60%Aggressive execution 43% — patient
Flow Conviction
≥30Conviction -84 (bearish) — strong conviction
Liquidity
Can I trade efficiently?
2.6
IlliquidLiquid
Evaluates
bid-ask spreads
, volume depth, and open interest for trade execution quality.Risk Checks2/8 checks passed
Tradeable Spread
≤5.0%Spread 29.0% — wide
Adequate OI
≥10,000OI 47,578 — adequate
Active Volume
≥500Volume 47/day — thin
Reasonable Cost
≤$0.50$1.45 to cross — expensive
Strike Coverage
≥5 strikes0 liquid strikes — limited options
Sector Relative≤40%
Sector spread percentile 74% — wider than sector
Order Book Depth
≥100 contractsDepth 127.4 contracts (bid:56.1 ask:71.3) — adequate
Execution Quality
<1.0%Avg slippage 11.41% — poor
Timing
Is now a good time?
7.4
RiskyFavorable
Considers earnings proximity,
time decay
, and event calendar for optimal entry timing.Risk Checks6/9 checks passed
Term Structure Clarity
|slope| ≥5%Slope -6.6% — contango
IV Percentile Clarity
<30 or >70IV percentile 61% — neutral
Event Detection
≥10pts kinkIV kink -1.0pts — no clear event
Theta/Vega Clarity
<0.5 or >2.0θ/ν ratio 927.96 — 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 -84% @ 91% consistency — STRONG directional (bearish)
Smart Money Timing
≥40 composite scoreScore 30 (ITM 20% + inst 0%) — retail dominated
Directional Strategy Fit
Option Buyers
Long Calls4.8
bullishIV fair, bearish flow
Long Puts5.8
bearishIV fair, bearish flow
Premium Sellers
Cash-Secured Put4.1
bullishIV fair, bearish flow
Covered Call5.1
bearishIV fair, bearish flow
For educational purposes only. Not investment advice.