IV is elevated with bullish flow and unusual activity. Conditions favor premium sellers.
Is IV priced right?
Measures whether options are cheap, fair, or rich relative to historical and peer
IV Rank 86.7% — elevated vs history
IV/HV 1.48x — IV premium over HV
Sector percentile 75% — above sector median
Front/Back 1.07x — backwardation
Put/Call IV 1.16x — elevated
ATM IV 84.4% — crisis-level IV
Effective IV 120.6% (ATM 84.4% + spread 18.1% + bias) — expensive
Total drag 26.11% (spread 18.08% + slippage 8.03%) — high friction
Vega efficiency 0.64 (vega 1.154 / spread 18.08%) — spread drag
Bullish or bearish?
Analyzes
Conviction-weighted: +42% (strong bullish) — Raw: +27%
|OI skew| 41.5% — call-heavy
Vol skew +68.5%, OI skew +41.5% — aligned
0-DTE 37%, far-OTM 15%, avg DTE 30
OI change +0.0% (5d) — stable
ITM: +42%, ATM: -15%, OTM: +19% — bullish (ITM/ATM divergent)
Sector P/C percentile 34% — bullish vs sector
Unusual activity?
Detects volume surges,
Volume 3.6x avg — hot
Vol/OI 19.5% — high turnover
Top 3 strikes = 50% — dispersed
2 day(s) elevated — sustained
OI change +19.2% (5d) — building
Sector activity percentile 91% — very active vs sector
Large trade volume 33% — institutional presence
Aggressive execution 37% — patient
Conviction +42 (bullish) — moderate
Can I trade efficiently?
Evaluates
Spread 18.1% — wide
OI 110,178 — deep
Volume 21,445/day — active
$0.90 to cross — expensive
0 liquid strikes — limited options
Sector spread percentile 86% — much wider than sector
Depth 1,110.0 contracts (bid:696.3 ask:413.7) — deep
Avg slippage 8.03% — poor
Is now a good time?
Considers earnings proximity,
Slope +7.0% — backwardation
IV percentile 87% — seller opportunity
IV kink 4.7pts — no clear event
θ/ν ratio 109.92 — favors income trades
3 liquid expirations — flexible
safe window: No earnings detected
Spread ratio 1.00x — stable
Flow +42% @ 71% consistency — STRONG directional (bullish)
Score 63 (ITM 20% + inst 33%) — HIGH institutional
For educational purposes only. Not investment advice.