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SIGSignet Jewelers Limited

Options Analysis Report•RETAIL-JEWELRY STORES
Market Cap $3.2B|NYSE
● 2026-08-31$82.70
NEUTRAL
Analysis: 2026-08-28 EOD data
1Y -8.6%YTD -4.0%7D -0.9%
356
30D
±19.2%
16%

SIG Options Overview

IV is elevated. Conditions favor premium sellers.

REWARDS

RISK ANALYSIS

4.1VALUESENTIMENTACTIVITYLIQUIDITYTIMING

Snowflake Analysis

Favorable conditions for premium sellers

Learn
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SIG Gamma Walls

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Value

Is IV priced right?

3.1
ExpensiveCheap

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

levels.

Risk Checks3/9 checks passed
≤35%

IV Rank 83.8% — elevated vs history

<1.05x

IV/HV 1.59x — IV premium over HV

Sector Relative≤50%

Sector percentile 92% — above sector median

<1.1x

Front/Back 0.89x — contango

<1.25x

Put/Call IV 1.16x — elevated

<80%

ATM IV 60.6% — normal range

<80%

Effective IV 130.0% (ATM 60.6% + spread 34.7% + bias) — expensive

<3.0%

Total drag 44.02% (spread 34.69% + slippage 9.33%) — high friction

≥5.0

Vega efficiency 2.26 (vega 7.830 / spread 34.69%) — spread drag

Sentiment

Bullish or bearish?

4.2
BearishBullish

Analyzes

,
, and flow direction to determine market bias.

Risk ChecksNeutral - Weak signal (Conviction: -4%, Raw: +4%)
|net sentiment| ≥25%

Conviction-weighted: -4% (neutral) — Raw: +4%

≥15%

|OI skew| 8.9% — balanced

Same sign, |vol skew| ≥10%

Vol skew -32.6%, OI skew +8.9% — 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: -33%, ATM: -67%, OTM: +36% — strong bearish (ITM/ATM aligned)

Sector Relative≤40% or ≥60%

Sector P/C percentile 84% — very bearish vs sector

Activity

Unusual activity?

3.8
QuietActive

Detects volume surges,

, and unusual options activity that may signal moves.

Risk Checks2/8 checks passed
≥1.5x

Volume 1.0x avg — normal

≥15%

Vol/OI 3.5% — normal turnover

≥2 days

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

≥5%

OI change +10.4% (5d) — building

Sector Relative≥60%

Sector activity percentile 66% — active vs sector

≥30%

Large trade volume 0% — mostly retail

≥60%

Aggressive execution 16% — patient

≥30

Conviction -4 (bearish) — mixed

Liquidity

Can I trade efficiently?

2.7
IlliquidLiquid

Evaluates

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

Risk Checks1/8 checks passed
≤5.0%

Spread 34.7% — wide

≥10,000

OI 10,099 — adequate

≥500

Volume 356/day — thin

≤$0.50

$1.73 to cross — expensive

≥5 strikes

0 liquid strikes — limited options

Sector Relative≤40%

Sector spread percentile 96% — much wider than sector

≥100 contracts

Depth 81.9 contracts (bid:42.7 ask:39.2) — thin

<1.0%

Avg slippage 9.33% — poor

Timing

Is now a good time?

6.5
RiskyFavorable

Considers earnings proximity,

, and event calendar for optimal entry timing.

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

Slope -11.0% — contango

<30 or >70

IV percentile 84% — seller opportunity

≥10pts kink

IV kink -11.9pts — no clear event

<0.5 or >2.0

θ/ν ratio 55.89 — favors income trades

≥3 expirations

4 liquid expirations — flexible

≥60% (safe)

acceptable: Earnings in 9d

<1.2 ratio

Spread ratio 1.00x — stable

≥25% strength + ≥50% consistency

Flow -4% @ 52% consistency — unclear

≥40 composite score

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

Directional Strategy Fit

Option Buyers
Long Calls4.0
bullishIV expensive, mixed flow
Long Puts4.5
bearishIV expensive, mixed flow
Premium Sellers
Cash-Secured Put5.0
bullishIV rich premium, mixed flow
Covered Call5.6
bearishIV rich premium, 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.

More on SIG

SIG gamma wallsSIG max painSIG IV rankSIG options flow