URNMSprott Uranium Miners ETF
URNM Options Overview
IV is elevated with bullish flow. Conditions favor premium sellers.
REWARDS
RISK ANALYSIS
URNM Gamma Walls
Value
Is IV priced right?
Measures whether options are cheap, fair, or rich relative to historical and peer
IV Rank 70.6% — elevated vs history
IV/HV 0.86x — IV ≤ HV
Sector percentile 81% — above sector median
Front/Back 1.02x — flat
Put/Call IV 1.16x — elevated
ATM IV 46.8% — normal range
Effective IV 61.7% (ATM 46.8% + spread 7.5% + bias) — good value
Total drag 12.37% (spread 7.45% + slippage 4.92%) — high friction
Vega efficiency 3.92 (vega 2.919 / spread 7.45%) — spread drag
Sentiment
Bullish or bearish?
Analyzes
Conviction-weighted: +28% (bullish) — Raw: +22%
|OI skew| 82.1% — call-heavy
Vol skew +14.1%, OI skew +82.1% — aligned
0-DTE 0%, far-OTM 15%, avg DTE 30
OI change +0.0% (5d) — stable
ITM: +28%, ATM: +29%, OTM: +17% — strong bullish (ITM/ATM aligned)
Sector P/C percentile 25% — very bullish vs sector
Activity
Unusual activity?
Detects volume surges,
Volume 1.2x avg — normal
Vol/OI 1.0% — normal turnover
1 day(s) elevated — may be one-day event
OI change +2.0% (5d) — building
Sector activity percentile 31% — below sector avg
Large trade volume 6% — mostly retail
Aggressive execution 42% — patient
Conviction +28 (bullish) — mixed
Liquidity
Can I trade efficiently?
Evaluates
Spread 7.5% — wide
OI 156,378 — deep
Volume 1,584/day — adequate
$0.37 to cross — cheap
0 liquid strikes — limited options
Sector spread percentile 85% — much wider than sector
Depth 229.7 contracts (bid:133.9 ask:95.8) — adequate
Avg slippage 4.92% — poor
Timing
Is now a good time?
Considers earnings proximity,
Slope +2.4% — flat/unclear
IV percentile 71% — seller opportunity
IV kink 0.0pts — no clear event
θ/ν ratio 23.32 — favors income trades
2 liquid expirations — limited
HIGH RISK: No earnings detected; FOMC in 2d (HIGH)
Spread ratio 1.00x — stable
Flow +28% @ 64% consistency — moderate (bullish)
Score 36 (ITM 20% + inst 6%) — retail dominated
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 14, 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.