bearish flow with unusual activity. No clear edge detected.
Is IV priced right?
Measures whether options are cheap, fair, or rich relative to historical and peer
IV Rank 68.4% — elevated vs history
IV/HV 0.97x — IV ≤ HV
Sector percentile 81% — above sector median
Front/Back 1.24x — backwardation
Put/Call IV 1.16x — elevated
ATM IV 50.8% — normal range
Effective IV 58.1% (ATM 50.8% + spread 3.7% + bias) — good value
Total drag 6.41% (spread 3.67% + slippage 2.74%) — high friction
Vega efficiency 775.28 (vega 284.529 / spread 3.67%) — efficient
Bullish or bearish?
Analyzes
Conviction-weighted: -4% (neutral) — Raw: -1%
|OI skew| 47.8% — put-heavy
Vol skew -45.6%, OI skew -47.8% — aligned
0-DTE 0%, far-OTM 15%, avg DTE 30
OI change +0.0% (5d) — stable
ITM: +1%, ATM: +17%, OTM: -5% — neutral (ITM/ATM aligned)
Sector P/C percentile 95% — very bearish vs sector
Unusual activity?
Detects volume surges,
Volume 0.7x avg — normal
Vol/OI 10.6% — normal turnover
Top 3 strikes = 50% — dispersed
1 day(s) elevated — may be one-day event
OI change -4.0% (5d) — unwinding
Sector activity percentile 89% — very active vs sector
Large trade volume 35% — institutional presence
Aggressive execution 34% — patient
Conviction -4 (bearish) — mixed
Can I trade efficiently?
Evaluates
Spread 3.7% — acceptable
OI 2,367,032 — deep
Volume 251,027/day — active
$0.18 to cross — cheap
1 liquid strikes — limited options
Sector spread percentile 84% — much wider than sector
Depth 167.5 contracts (bid:77.9 ask:89.6) — adequate
Avg slippage 2.74% — poor
Is now a good time?
Considers earnings proximity,
Slope +23.7% — backwardation
IV percentile 68% — neutral
IV kink 9.5pts — no clear event
θ/ν ratio 2101.39 — favors income trades
5 liquid expirations — flexible
caution advised: No earnings detected; CPI in 1d (HIGH)
Spread ratio 1.00x — stable
Flow -4% @ 52% consistency — unclear
Score 65 (ITM 20% + inst 35%) — HIGH institutional
For educational purposes only. Not investment advice.