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 60.5% — elevated vs history
IV/HV 1.21x — IV premium over HV
Sector percentile 79% — above sector median
Front/Back 1.33x — backwardation
Put/Call IV 1.16x — elevated
ATM IV 43.5% — normal range
Effective IV 63.2% (ATM 43.5% + spread 9.8% + bias) — good value
Total drag 14.06% (spread 9.85% + slippage 4.21%) — high friction
Vega efficiency 120.24 (vega 118.437 / spread 9.85%) — efficient
Bullish or bearish?
Analyzes
Conviction-weighted: +8% (neutral) — Raw: +10%
|OI skew| 50.1% — put-heavy
Vol skew -69.2%, OI skew -50.1% — aligned
0-DTE 0%, far-OTM 15%, avg DTE 30
OI change +0.0% (5d) — stable
ITM: +4%, ATM: +14%, OTM: +8% — neutral (ITM/ATM aligned)
Sector P/C percentile 96% — very bearish vs sector
Unusual activity?
Detects volume surges,
Volume 1.5x avg — elevated
Vol/OI 15.8% — high turnover
Top 3 strikes = 50% — dispersed
3 day(s) elevated — sustained
OI change +28.8% (5d) — building
Sector activity percentile 93% — very active vs sector
Large trade volume 34% — institutional presence
Aggressive execution 35% — patient
Conviction +8 (bullish) — mixed
Can I trade efficiently?
Evaluates
Spread 9.8% — wide
OI 203,863 — deep
Volume 32,218/day — active
$0.49 to cross — cheap
2 liquid strikes — limited options
Sector spread percentile 82% — much wider than sector
Depth 360.3 contracts (bid:187.4 ask:172.9) — adequate
Avg slippage 4.21% — poor
Is now a good time?
Considers earnings proximity,
Slope +33.3% — backwardation
IV percentile 60% — neutral
IV kink 12.1pts — event priced
θ/ν ratio 731.09 — favors income trades
5 liquid expirations — flexible
HIGH RISK: No earnings detected; FOMC in 0d (HIGH)
Spread ratio 1.00x — stable
Flow +8% @ 54% consistency — unclear
Score 64 (ITM 20% + inst 34%) — HIGH institutional
For educational purposes only. Not investment advice.