Mixed signals. Conditions favor premium sellers.
Is IV priced right?
Measures whether options are cheap, fair, or rich relative to historical and peer
IV Rank 68.1% — elevated vs history
IV/HV 0.93x — IV ≤ HV
Sector percentile 78% — above sector median
Front/Back 1.01x — flat
Put/Call IV 1.16x — elevated
ATM IV 55.6% — normal range
Effective IV 89.0% (ATM 55.6% + spread 16.7% + bias) — expensive
Total drag 21.09% (spread 16.68% + slippage 4.41%) — high friction
Vega efficiency 3.08 (vega 5.133 / spread 16.68%) — spread drag
Bullish or bearish?
Analyzes
Conviction-weighted: +9% (neutral) — Raw: +5%
|OI skew| 12.3% — balanced
Vol skew +11.3%, OI skew +12.3% — aligned
0-DTE 28%, far-OTM 15%, avg DTE 30
OI change +0.0% (5d) — stable
ITM: -9%, ATM: +42%, OTM: -2% — bullish (ITM/ATM divergent)
Sector P/C percentile 31% — bullish vs sector
Unusual activity?
Detects volume surges,
Volume 0.9x avg — normal
Vol/OI 3.3% — normal turnover
Top 3 strikes = 50% — dispersed
1 day(s) elevated — may be one-day event
OI change +4.4% (5d) — building
Sector activity percentile 52% — neutral vs sector
Large trade volume 44% — institutional presence
Aggressive execution 16% — patient
Conviction +9 (bullish) — mixed
Can I trade efficiently?
Evaluates
Spread 16.7% — wide
OI 342,463 — deep
Volume 11,253/day — active
$0.83 to cross — expensive
0 liquid strikes — limited options
Sector spread percentile 82% — much wider than sector
Depth 753.2 contracts (bid:428.3 ask:324.9) — deep
Avg slippage 4.41% — poor
Is now a good time?
Considers earnings proximity,
Slope +0.7% — flat/unclear
IV percentile 68% — neutral
IV kink 1.5pts — no clear event
θ/ν ratio 78.96 — favors income trades
5 liquid expirations — flexible
safe window: No earnings detected
Spread ratio 1.00x — stable
Flow +9% @ 55% consistency — unclear
Score 74 (ITM 20% + inst 44%) — HIGH institutional
For educational purposes only. Not investment advice.