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SMCISuper Micro Computer, Inc. Common Stock

Options Analysis Report•ELECTRONIC COMPUTERS
Market Cap $24.0B|NASDAQ
● 2026-08-28$37.08
NEUTRAL
Analysis: 2026-08-27 EOD data
1Y -10.7%YTD +19.8%7D -0.4%
236,300
30D
±19.9%
23%

SMCI Options Overview

IV is elevated with unusual activity. Conditions favor premium sellers.

REWARDS

RISK ANALYSIS

5.8VALUESENTIMENTACTIVITYLIQUIDITYTIMING

Snowflake Analysis

Favorable conditions for premium sellers

Learn
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SMCI Gamma Walls

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Value

Is IV priced right?

5.5
ExpensiveCheap

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

levels.

Risk Checks5/9 checks passed
≤35%

IV Rank 98.9% — elevated vs history

<1.05x

IV/HV 0.84x — IV ≤ HV

Sector Relative≤50%

Sector percentile 95% — above sector median

<1.1x

Front/Back 0.93x — contango

<1.25x

Put/Call IV 1.16x — elevated

<80%

ATM IV 75.2% — normal range

<80%

Effective IV 88.5% (ATM 75.2% + spread 6.7% + bias) — expensive

<3.0%

Total drag 9.80% (spread 6.66% + slippage 3.14%) — high friction

≥5.0

Vega efficiency 6.40 (vega 4.259 / spread 6.66%) — acceptable

Sentiment

Bullish or bearish?

5.6
BearishBullish

Analyzes

,
, and flow direction to determine market bias.

Risk ChecksBearish - Moderate signal (Conviction: -20%, Raw: -17%)
|net sentiment| ≥25%

Conviction-weighted: -20% (bearish) — Raw: -17%

≥15%

|OI skew| 7.8% — balanced

Same sign, |vol skew| ≥10%

Vol skew +26.9%, OI skew +7.8% — aligned

≥2/3 conditions

0-DTE 41%, far-OTM 15%, avg DTE 30

|change| ≥3%

OI change +0.0% (5d) — stable

|weighted flow| ≥20%

ITM: -17%, ATM: -2%, OTM: -22% — bearish (ITM/ATM aligned)

Sector Relative≤40% or ≥60%

Sector P/C percentile 46% — neutral vs sector

Activity

Unusual activity?

4.3
QuietActive

Detects volume surges,

, and unusual options activity that may signal moves.

Risk Checks2/8 checks passed
≥1.5x

Volume 0.8x avg — normal

≥15%

Vol/OI 10.3% — normal turnover

≥2 days

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

≥5%

OI change -11.3% (5d) — unwinding

Sector Relative≥60%

Sector activity percentile 66% — active vs sector

≥30%

Large trade volume 33% — institutional presence

≥60%

Aggressive execution 39% — patient

≥30

Conviction -20 (bearish) — mixed

Liquidity

Can I trade efficiently?

5.7
IlliquidLiquid

Evaluates

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

Risk Checks4/8 checks passed
≤5.0%

Spread 6.7% — wide

≥10,000

OI 2,287,946 — deep

≥500

Volume 236,300/day — active

≤$0.50

$0.33 to cross — cheap

≥5 strikes

0 liquid strikes — limited options

Sector Relative≤40%

Sector spread percentile 95% — much wider than sector

≥100 contracts

Depth 385.3 contracts (bid:195.9 ask:189.4) — adequate

<1.0%

Avg slippage 3.14% — poor

Timing

Is now a good time?

7.9
RiskyFavorable

Considers earnings proximity,

, and event calendar for optimal entry timing.

Risk Checks7/9 checks passed
|slope| ≥5%

Slope -7.4% — contango

<30 or >70

IV percentile 99% — seller opportunity

≥10pts kink

IV kink -2.1pts — no clear event

<0.5 or >2.0

θ/ν ratio 81.75 — 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 -20% @ 60% consistency — unclear

≥40 composite score

Score 63 (ITM 20% + inst 33%) — HIGH institutional

Directional Strategy Fit

Option Buyers
Long Calls5.9
bullishIV fair, mixed flow
Long Puts5.5
bearishIV fair, mixed flow
Premium Sellers
Cash-Secured Put5.6
bullishIV fair, mixed flow
Covered Call5.2
bearishIV fair, 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.