AInvestOption Pilot Program
Options/SHY
S

SHYiShares 1-3 Year Treasury Bond ETF

Options Analysis Report
AUM $25.7B|NASDAQ
● 2026-08-31$81.89
BULLISH
Analysis: 2026-08-28 EOD data
1Y -1.0%YTD -1.2%7D -0.1%
436
30D
±3.3%
8%

SHY Options Overview

IV is low with bullish flow. Conditions favor option buyers.

REWARDS

RISK ANALYSIS

5.4VALUESENTIMENTACTIVITYLIQUIDITYTIMING

Snowflake Analysis

Favorable conditions for option buyers

Learn
Loading score history...

SHY Gamma Walls

Loading gamma walls...

Value

Is IV priced right?

7.0
ExpensiveCheap

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

levels.

Risk Checks4/9 checks passed
≤35%

IV Rank 0.3% — cheap vs history

<1.05x

IV/HV 2.51x — IV premium over HV

Sector Relative≤50%

Sector percentile 0% — below sector median

<1.1x

Front/Back 2.97x — backwardation

<1.25x

Put/Call IV 1.16x — elevated

<80%

ATM IV 4.2% — normal range

<80%

Effective IV 85.0% (ATM 4.2% + spread 40.4% + bias) — expensive

<3.0%

Total drag 57.84% (spread 40.41% + slippage 17.43%) — high friction

≥5.0

Vega efficiency 0.00 (vega 0.000 / spread 40.41%) — spread drag

Sentiment

Bullish or bearish?

6.3
BearishBullish

Analyzes

,
, and flow direction to determine market bias.

Risk ChecksBullish - Moderate signal (Conviction: +19%, Raw: +24%)
|net sentiment| ≥25%

Conviction-weighted: +19% (bullish) — Raw: +24%

≥15%

|OI skew| 58.7% — put-heavy

Same sign, |vol skew| ≥10%

Vol skew +95.0%, OI skew -58.7% — divergent (opposite)

≥2/3 conditions

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

|change| ≥3%

OI change +0.0% (5d) — stable

|weighted flow| ≥20%

ITM: +0%, ATM: +24%, OTM: +0% — neutral (ITM/ATM divergent)

Sector Relative≤40% or ≥60%

Sector P/C percentile 1% — very bullish vs sector

Activity

Unusual activity?

3.7
QuietActive

Detects volume surges,

, and unusual options activity that may signal moves.

Risk Checks0/8 checks passed
≥1.5x

Volume 1.4x avg — normal

≥15%

Vol/OI 1.1% — normal turnover

≥2 days

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

≥5%

OI change +0.7% (5d) — stable

Sector Relative≥60%

Sector activity percentile 33% — below sector avg

≥30%

Large trade volume 0% — mostly retail

≥60%

Aggressive execution 57% — patient

≥30

Conviction +19 (bullish) — mixed

Liquidity

Can I trade efficiently?

3.5
IlliquidLiquid

Evaluates

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

Risk Checks3/8 checks passed
≤5.0%

Spread 40.4% — wide

≥10,000

OI 40,345 — adequate

≥500

Volume 436/day — thin

≤$0.50

$2.02 to cross — expensive

≥5 strikes

0 liquid strikes — limited options

Sector Relative≤40%

Sector spread percentile 24% — tighter than sector

≥100 contracts

Depth 118.6 contracts (bid:45.1 ask:73.5) — adequate

<1.0%

Avg slippage 17.43% — poor

Timing

Is now a good time?

6.4
RiskyFavorable

Considers earnings proximity,

, and event calendar for optimal entry timing.

Risk Checks5/9 checks passed
|slope| ≥5%

Slope +197.4% — backwardation

<30 or >70

IV percentile 0% — buyer opportunity

≥10pts kink

IV kink 5.9pts — no clear event

<0.5 or >2.0

θ/ν ratio 1.00 — favors mixed

≥3 expirations

3 liquid expirations — flexible

≥60% (safe)

safe window: No earnings detected

<1.2 ratio

Spread ratio 1.00x — stable

≥25% strength + ≥50% consistency

Flow +19% @ 59% consistency — unclear

≥40 composite score

Score 30 (ITM 20% + inst 0%) — retail dominated

Directional Strategy Fit

Option Buyers
Long Calls6.9
bullishIV cheap, bullish flow
Long Puts5.2
bearishIV cheap, bullish flow
Premium Sellers
Cash-Secured Put4.8
bullishIV too cheap, bullish flow
Covered Call3.9
bearishIV too cheap, bullish 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.

More on SHY

SHY gamma wallsSHY max painSHY IV rankSHY options flow