Options/TRIP

TRIPTripAdvisor, Inc.

Options Analysis Report•SERVICES-COMPUTER PROGRAMMING, DATA PROCESSING, ETC.

Market Cap $1.1B|NASDAQ

● 2026-08-31$9.52

NEUTRAL

Analysis: 2026-08-28 EOD data

1Y -43.1%YTD -35.0%7D -5.7%

Options Vol

6,186

30D

Implied Move

±12.9%

IV Rank

TRIP Options Overview

IV is elevated with unusual activity. Conditions favor premium sellers.

REWARDS

RISK ANALYSIS

Snowflake Analysis

Balanced conditions with no clear edge

Learn

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TRIP Gamma Walls

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Value

Is IV priced right?

5.7

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 77.8% — elevated vs history

IV/HV Ratio

<1.05x

IV/HV 0.47x — IV ≤ HV

Sector Relative≤50%

Sector percentile 84% — above sector median

Term Structure

<1.1x

Front/Back 1.23x — backwardation

Skew Normal

<1.25x

Put/Call IV 1.16x — elevated

Absolute IV

<80%

ATM IV 51.7% — normal range

Spread-Adjusted Value

<80%

Effective IV 79.6% (ATM 51.7% + spread 14.0% + bias) — fair

Execution Efficiency

<3.0%

Total drag 19.16% (spread 13.96% + slippage 5.20%) — high friction

Vega Efficiency

≥5.0

Vega efficiency 0.13 (vega 0.187 / spread 13.96%) — spread drag

Sentiment

Bullish or bearish?

5.5

BearishBullish

Analyzes

put/call ratios

open interest skew

, and flow direction to determine market bias.

Risk ChecksVery Bullish - Weak signal (Conviction: +34%, Raw: +40%)

Flow Direction

|net sentiment| ≥25%

Conviction-weighted: +34% (strong bullish) — Raw: +40%

OI Skew Magnitude

≥15%

|OI skew| 9.3% — balanced

Volume-OI Alignment

Same sign, |vol skew| ≥10%

Vol skew -59.0%, OI skew +9.3% — divergent (opposite)

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: +13%, ATM: -19%, OTM: +54% — neutral (ITM/ATM divergent)

Sector Relative≤40% or ≥60%

Sector P/C percentile 91% — very bearish vs sector

Activity

Unusual activity?

4.5

QuietActive

Detects volume surges,

block trades

, and unusual options activity that may signal moves.

Risk Checks3/8 checks passed

Volume Surge

≥1.5x

Volume 0.7x avg — normal

Turnover Rate

≥15%

Vol/OI 2.4% — normal turnover

Multi-Day Persistence

≥2 days

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

OI Build

≥5%

OI change +5.3% (5d) — building

Sector Relative≥60%

Sector activity percentile 56% — neutral vs sector

Trade Quality

≥30%

Large trade volume 59% — heavy institutional

Execution Urgency

≥60%

Aggressive execution 11% — patient

Flow Conviction

≥30

Conviction +34 (bullish) — moderate

Liquidity

Can I trade efficiently?

3.5

IlliquidLiquid

Evaluates

bid-ask spreads

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

Risk Checks3/8 checks passed

Tradeable Spread

≤5.0%

Spread 14.0% — wide

Adequate OI

≥10,000

OI 259,463 — deep

Active Volume

≥500

Volume 6,186/day — active

Reasonable Cost

≤$0.50

$0.70 to cross — expensive

Strike Coverage

≥5 strikes

0 liquid strikes — limited options

Sector Relative≤40%

Sector spread percentile 91% — much wider than sector

Order Book Depth

≥100 contracts

Depth 956.0999999999999 contracts (bid:686.3 ask:269.8) — deep

Execution Quality

<1.0%

Avg slippage 5.20% — poor

Timing

Is now a good time?

8.1

RiskyFavorable

Considers earnings proximity,

time decay

, and event calendar for optimal entry timing.

Risk Checks9/9 checks passed

Term Structure Clarity

|slope| ≥5%

Slope +23.1% — backwardation

IV Percentile Clarity

<30 or >70

IV percentile 78% — seller opportunity

Event Detection

≥10pts kink

IV kink 20.8pts — event priced

Theta/Vega Clarity

<0.5 or >2.0

θ/ν ratio 3.65 — favors income trades

Expiration Distribution

≥3 expirations

4 liquid expirations — flexible

Event Risk

≥60% (safe)

safe window: No events detected

Spread Momentum

<1.2 ratio

Spread ratio 1.00x — stable

Flow Momentum

≥25% strength + ≥50% consistency

Flow +34% @ 67% consistency — moderate (bullish)

Smart Money Timing

≥40 composite score

Score 89 (ITM 20% + inst 59%) — HIGH institutional

Directional Strategy Fit

Option Buyers

Long Calls5.7

bullishIV fair, mixed flow

Long Puts5.3

bearishIV fair, mixed flow

Premium Sellers

Cash-Secured Put5.1

bullishIV fair, mixed flow

Covered Call4.8

bearishIV fair, 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.

More on TRIP

TRIP gamma walls TRIP max pain TRIP IV rank TRIP options flow