UPSTUpstart Holdings, Inc. Common stock
UPST Options Overview
IV is elevated with unusual activity. Conditions favor premium sellers.
REWARDS
RISK ANALYSIS
UPST Gamma Walls
Value
Is IV priced right?
Measures whether options are cheap, fair, or rich relative to historical and peer
IV Rank 85.9% — elevated vs history
IV/HV 1.23x — IV premium over HV
Sector percentile 89% — above sector median
Front/Back 0.82x — contango
Put/Call IV 1.16x — elevated
ATM IV 67.9% — normal range
Effective IV 81.6% (ATM 67.9% + spread 6.9% + bias) — expensive
Total drag 11.69% (spread 6.86% + slippage 4.83%) — high friction
Vega efficiency 5.35 (vega 3.670 / spread 6.86%) — acceptable
Sentiment
Bullish or bearish?
Analyzes
Conviction-weighted: +1% (neutral) — Raw: -4%
|OI skew| 28.9% — call-heavy
Vol skew +9.5%, OI skew +28.9% — weak (same direction)
0-DTE 38%, far-OTM 15%, avg DTE 30
OI change +0.0% (5d) — stable
ITM: -20%, ATM: +22%, OTM: -7% — neutral (ITM/ATM divergent)
Sector P/C percentile 25% — very bullish vs sector
Activity
Unusual activity?
Detects volume surges,
Volume 1.1x avg — normal
Vol/OI 5.9% — normal turnover
1 day(s) elevated — may be one-day event
OI change +1.4% (5d) — stable
Sector activity percentile 73% — active vs sector
Large trade volume 20% — mixed
Aggressive execution 41% — patient
Conviction +1 (bullish) — mixed
Liquidity
Can I trade efficiently?
Evaluates
Spread 6.9% — wide
OI 320,473 — deep
Volume 18,881/day — active
$0.34 to cross — cheap
1 liquid strikes — limited options
Sector spread percentile 92% — much wider than sector
Depth 419.79999999999995 contracts (bid:150.9 ask:268.9) — adequate
Avg slippage 4.83% — poor
Timing
Is now a good time?
Considers earnings proximity,
Slope -17.8% — contango
IV percentile 86% — seller opportunity
IV kink -5.1pts — no clear event
θ/ν ratio 132.03 — favors income trades
4 liquid expirations — flexible
caution advised: FOMC in 5d; CPI in 0d (HIGH)
Spread ratio 1.00x — stable
Flow +1% @ 50% consistency — unclear
Score 50 (ITM 20% + inst 20%) — moderate institutional
Directional Strategy Fit
For educational purposes only. Not investment advice.
The Options Desk tracks the move options price into every US earnings report the week of Sep 7, 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.