Options/TGNA

TGNA

Options Analysis Report

Market Cap: --

● 2026-03-20$20.03

VERY BEARISH

Analysis: 2026-03-19 EOD data

1Y -5.4%YTD +3.8%7D +0.0%

Options Vol

3,035

30D

Implied Move

±8.2%

IV Rank

35%

TGNA Options Overview

bearish flow. No clear edge detected.

REWARDS

RISK ANALYSIS

Snowflake Analysis

Balanced conditions with no clear edge

Learn

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TGNA Gamma Walls

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Value

Is IV priced right?

4.8

ExpensiveCheap

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

levels.

Risk Checks4/9 checks passed

IV Rank

≤35%

IV Rank 34.8% — cheap vs history

IV/HV Ratio

<1.05x

IV/HV 3.13x — IV premium over HV

Sector Relative≤50%

Sector percentile 19% — below sector median

Term Structure

<1.1x

Front/Back 1.61x — backwardation

Skew Normal

<1.25x

Put/Call IV 1.16x — elevated

Absolute IV

<80%

ATM IV 38.1% — normal range

Spread-Adjusted Value

<80%

Effective IV 198.1% (ATM 38.1% + spread 80.0% + bias) — expensive

Execution Efficiency

<3.0%

Total drag 122.27% (spread 80.00% + slippage 42.27%) — high friction

Vega Efficiency

≥5.0

Vega efficiency 0.74 (vega 5.940 / spread 80.00%) — spread drag

Sentiment

Bullish or bearish?

0.0

BearishBullish

Analyzes

put/call ratios

open interest skew

, and flow direction to determine market bias.

Risk ChecksVery Bearish - Strong signal (Conviction: -100%, Raw: -100%)

Flow Direction

|net sentiment| ≥25%

Conviction-weighted: -100% (strong bearish) — Raw: -100%

OI Skew Magnitude

≥15%

|OI skew| 42.9% — put-heavy

Volume-OI Alignment

Same sign, |vol skew| ≥10%

Vol skew -98.8%, OI skew -42.9% — aligned

Conviction Quality

≥2/3 conditions

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

OI Momentum

|change| ≥3%

OI change +0.0% (5d) — stable

Smart Money Flow

|weighted flow| ≥20%

ITM: +0%, ATM: -100%, OTM: -100% — strong bearish (ITM/ATM divergent)

Sector Relative≤40% or ≥60%

Sector P/C percentile 99% — very bearish vs sector

Activity

Unusual activity?

7.1

QuietActive

Detects volume surges,

block trades

, and unusual options activity that may signal moves.

Risk Checks6/9 checks passed

Volume Surge

≥1.5x

Volume 2.9x avg — hot

Turnover Rate

≥15%

Vol/OI 8.9% — normal turnover

Strike Concentration

≥60%

Top 3 strikes = 50% — dispersed

Multi-Day Persistence

≥2 days

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

OI Build

≥5%

OI change +8.0% (5d) — building

Sector Relative≥60%

Sector activity percentile 86% — very active vs sector

Trade Quality

≥30%

Large trade volume 99% — heavy institutional

Execution Urgency

≥60%

Aggressive execution 67% — urgent

Flow Conviction

≥30

Conviction -100 (bearish) — strong conviction

Liquidity

Can I trade efficiently?

2.7

IlliquidLiquid

Evaluates

bid-ask spreads

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

Risk Checks2/8 checks passed

Tradeable Spread

≤5.0%

Spread 80.0% — wide

Adequate OI

≥10,000

OI 34,083 — adequate

Active Volume

≥500

Volume 3,035/day — adequate

Reasonable Cost

≤$0.50

$4.00 to cross — expensive

Strike Coverage

≥5 strikes

0 liquid strikes — limited options

Sector Relative≤40%

Sector spread percentile 70% — wider than sector

Order Book Depth

≥100 contracts

Depth 11.3 contracts (bid:9.0 ask:2.3) — thin

Execution Quality

<1.0%

Avg slippage 42.27% — poor

Timing

Is now a good time?

7.3

RiskyFavorable

Considers earnings proximity,

time decay

, and event calendar for optimal entry timing.

Risk Checks7/9 checks passed

Term Structure Clarity

|slope| ≥5%

Slope +61.2% — backwardation

IV Percentile Clarity

<30 or >70

IV percentile 35% — neutral

Event Detection

≥10pts kink

IV kink -4.4pts — no clear event

Theta/Vega Clarity

<0.5 or >2.0

θ/ν ratio 1164.76 — favors income trades

Expiration Distribution

≥3 expirations

4 liquid expirations — flexible

Event Risk

≥60% (safe)

safe window: No earnings detected

Spread Momentum

<1.2 ratio

Spread ratio 1.00x — stable

Flow Momentum

≥25% strength + ≥50% consistency

Flow -100% @ 100% consistency — STRONG directional (bearish)

Smart Money Timing

≥40 composite score

Score 129 (ITM 20% + inst 99%) — HIGH institutional

Directional Strategy Fit

Option Buyers

Long Calls3.2

bullishIV fair, bearish flow

Long Puts7.4

bearishIV fair, bearish flow

Premium Sellers

Cash-Secured Put3.2

bullishIV fair, bearish flow

Covered Call6.7

bearishIV fair, bearish 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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