AInvestOption Pilot Program
Options/SPMO
S

SPMOInvesco S&P 500 Momentum ETF

Options Analysis Report•INVESTMENT ADVICE
AUM $22.1B|ARCX
● 2026-08-31$146.78
NEUTRAL
Analysis: 2026-08-28 EOD data
1Y +27.0%YTD +22.7%7D +0.4%
589
30D
±6.5%
27%

SPMO Options Overview

Mixed signals. Conditions favor option buyers.

REWARDS

RISK ANALYSIS

5.1VALUESENTIMENTACTIVITYLIQUIDITYTIMING

Snowflake Analysis

Favorable conditions for option buyers

Learn
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SPMO Gamma Walls

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Value

Is IV priced right?

7.0
ExpensiveCheap

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

levels.

Risk Checks6/9 checks passed
≤35%

IV Rank 34.5% — cheap vs history

<1.05x

IV/HV 1.09x — IV premium over HV

Sector Relative≤50%

Sector percentile 54% — above sector median

<1.1x

Front/Back 0.86x — contango

<1.25x

Put/Call IV 1.16x — elevated

<80%

ATM IV 25.1% — normal range

<80%

Effective IV 56.4% (ATM 25.1% + spread 15.7% + bias) — good value

<3.0%

Total drag 24.07% (spread 15.67% + slippage 8.40%) — high friction

≥5.0

Vega efficiency 13.22 (vega 20.708 / spread 15.67%) — efficient

Sentiment

Bullish or bearish?

5.8
BearishBullish

Analyzes

,
, and flow direction to determine market bias.

Risk ChecksBearish - Strong signal (Conviction: -16%, Raw: -20%)
|net sentiment| ≥25%

Conviction-weighted: -16% (bearish) — Raw: -20%

≥15%

|OI skew| 32.7% — call-heavy

Same sign, |vol skew| ≥10%

Vol skew +25.0%, OI skew +32.7% — aligned

≥2/3 conditions

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

|change| ≥3%

OI change +0.0% (5d) — stable

|weighted flow| ≥20%

ITM: +13%, ATM: +32%, OTM: -38% — bullish (ITM/ATM aligned)

Sector Relative≤40% or ≥60%

Sector P/C percentile 21% — very bullish vs sector

Activity

Unusual activity?

3.4
QuietActive

Detects volume surges,

, and unusual options activity that may signal moves.

Risk Checks1/8 checks passed
≥1.5x

Volume 0.5x avg — normal

≥15%

Vol/OI 3.3% — normal turnover

≥2 days

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

≥5%

OI change +9.5% (5d) — building

Sector Relative≥60%

Sector activity percentile 59% — neutral vs sector

≥30%

Large trade volume 0% — mostly retail

≥60%

Aggressive execution 40% — patient

≥30

Conviction -16 (bearish) — mixed

Liquidity

Can I trade efficiently?

2.8
IlliquidLiquid

Evaluates

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

Risk Checks3/8 checks passed
≤5.0%

Spread 15.7% — wide

≥10,000

OI 18,039 — adequate

≥500

Volume 589/day — adequate

≤$0.50

$0.78 to cross — expensive

≥5 strikes

0 liquid strikes — limited options

Sector Relative≤40%

Sector spread percentile 65% — wider than sector

≥100 contracts

Depth 121.6 contracts (bid:65.5 ask:56.1) — adequate

<1.0%

Avg slippage 8.40% — poor

Timing

Is now a good time?

6.5
RiskyFavorable

Considers earnings proximity,

, and event calendar for optimal entry timing.

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

Slope -14.1% — contango

<30 or >70

IV percentile 34% — neutral

≥10pts kink

IV kink -2.6pts — no clear event

<0.5 or >2.0

θ/ν ratio 329.75 — favors income trades

≥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 -16% @ 58% consistency — unclear

≥40 composite score

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

Directional Strategy Fit

Option Buyers
Long Calls5.9
bullishIV cheap, mixed flow
Long Puts5.3
bearishIV cheap, mixed flow
Premium Sellers
Cash-Secured Put4.5
bullishIV too cheap, mixed flow
Covered Call3.9
bearishIV too cheap, 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.

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