UMCUnited Microelectronic Corp.
Options Analysis Report
Market Cap $43.0B|NYSE
● 2026-05-15$17.13
VERY BULLISH
Analysis: 2026-05-14 EOD data
1Y +118.5%YTD +118.5%7D +11.1%
Options Vol
18,347
30D
Implied Move
±8.6%
IV Rank
77%
UMC Options Overview
IV is elevated with bullish flow and unusual activity. No clear edge detected.
REWARDS
RISK ANALYSIS
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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
IV
levels.Risk Checks5/9 checks passed
IV Rank
≤35%IV Rank 77.6% — elevated vs history
IV/HV Ratio
<1.05xIV/HV 0.93x — IV ≤ HV
Sector Relative≤50%
Sector percentile 50% — below sector median
Term Structure
<1.1xFront/Back 0.87x — contango
Skew Normal
<1.25xPut/Call IV 1.16x — elevated
Absolute IV
<80%ATM IV 67.2% — normal range
Spread-Adjusted Value
<80%Effective IV 90.9% (ATM 67.2% + spread 11.8% + bias) — expensive
Execution Efficiency
<3.0%Total drag 16.03% (spread 11.83% + slippage 4.20%) — high friction
Vega Efficiency
≥5.0Vega efficiency 4.51 (vega 5.337 / spread 11.83%) — spread drag
Sentiment
Bullish or bearish?
7.7
BearishBullish
Analyzes
put/call ratios
, open interest skew
, and flow direction to determine market bias.Risk ChecksVery Bullish - Strong signal (Conviction: +34%, Raw: +36%)
Flow Direction
|net sentiment| ≥25%Conviction-weighted: +34% (strong bullish) — Raw: +36%
OI Skew Magnitude
≥15%|OI skew| 71.1% — call-heavy
Volume-OI Alignment
Same sign, |vol skew| ≥10%Vol skew +84.6%, OI skew +71.1% — aligned
Conviction Quality
≥2/3 conditions0-DTE 7%, 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: +22%, OTM: +49% — neutral (ITM/ATM divergent)
Sector Relative≤40% or ≥60%
Sector P/C percentile 18% — very bullish vs sector
Activity
Unusual activity?
5.8
QuietActive
Detects volume surges,
block trades
, and unusual options activity that may signal moves.Risk Checks4/9 checks passed
Volume Surge
≥1.5xVolume 1.3x avg — normal
Turnover Rate
≥15%Vol/OI 8.4% — normal turnover
Strike Concentration
≥60%Top 3 strikes = 50% — dispersed
Multi-Day Persistence
≥2 days1 day(s) elevated — may be one-day event
OI Build
≥5%OI change +11.5% (5d) — building
Sector Relative≥60%
Sector activity percentile 73% — active vs sector
Trade Quality
≥30%Large trade volume 45% — institutional presence
Execution Urgency
≥60%Aggressive execution 46% — patient
Flow Conviction
≥30Conviction +34 (bullish) — moderate
Liquidity
Can I trade efficiently?
3.9
IlliquidLiquid
Evaluates
bid-ask spreads
, volume depth, and open interest for trade execution quality.Risk Checks3/8 checks passed
Tradeable Spread
≤5.0%Spread 11.8% — wide
Adequate OI
≥10,000OI 218,165 — deep
Active Volume
≥500Volume 18,347/day — active
Reasonable Cost
≤$0.50$0.59 to cross — expensive
Strike Coverage
≥5 strikes0 liquid strikes — limited options
Sector Relative≤40%
Sector spread percentile 72% — wider than sector
Order Book Depth
≥100 contractsDepth 695.3 contracts (bid:427.5 ask:267.8) — deep
Execution Quality
<1.0%Avg slippage 4.20% — poor
Timing
Is now a good time?
7.7
RiskyFavorable
Considers earnings proximity,
time decay
, and event calendar for optimal entry timing.Risk Checks8/9 checks passed
Term Structure Clarity
|slope| ≥5%Slope -12.9% — contango
IV Percentile Clarity
<30 or >70IV percentile 78% — seller opportunity
Event Detection
≥10pts kinkIV kink -7.6pts — no clear event
Theta/Vega Clarity
<0.5 or >2.0θ/ν ratio 731.04 — favors income trades
Expiration Distribution
≥3 expirations3 liquid expirations — flexible
Event Risk
≥60% (safe)safe window: No earnings detected
Spread Momentum
<1.2 ratioSpread ratio 1.00x — stable
Flow Momentum
≥25% strength + ≥50% consistencyFlow +34% @ 67% consistency — moderate (bullish)
Smart Money Timing
≥40 composite scoreScore 75 (ITM 20% + inst 45%) — HIGH institutional
Directional Strategy Fit
Option Buyers
Long Calls6.1
bullishIV fair, bullish flow
Long Puts4.3
bearishIV fair, bullish flow
Premium Sellers
Cash-Secured Put5.8
bullishIV fair, bullish flow
Covered Call4.3
bearishIV fair, bullish flow
For educational purposes only. Not investment advice.