IV is elevated with bullish flow. No clear edge detected.
Is IV priced right?
Measures whether options are cheap, fair, or rich relative to historical and peer
IV Rank 73.4% — elevated vs history
IV/HV 1.05x — IV ≤ HV
Sector percentile 87% — above sector median
Front/Back 1.05x — flat
Put/Call IV 1.16x — elevated
ATM IV 55.0% — normal range
Effective IV 90.9% (ATM 55.0% + spread 17.9% + bias) — expensive
Total drag 23.03% (spread 17.94% + slippage 5.09%) — high friction
Vega efficiency 3.16 (vega 5.673 / spread 17.94%) — spread drag
Bullish or bearish?
Analyzes
Conviction-weighted: +46% (strong bullish) — Raw: +31%
|OI skew| 86.2% — call-heavy
Vol skew +62.7%, OI skew +86.2% — aligned
0-DTE 0%, far-OTM 15%, avg DTE 30
OI change +0.0% (5d) — stable
ITM: -56%, ATM: +57%, OTM: -0% — bearish (ITM/ATM divergent)
Sector P/C percentile 11% — very bullish vs sector
Unusual activity?
Detects volume surges,
Volume 0.6x avg — normal
Vol/OI 0.5% — normal turnover
Top 3 strikes = 50% — dispersed
1 day(s) elevated — may be one-day event
OI change +1.4% (5d) — stable
Sector activity percentile 17% — quiet vs sector
Large trade volume 38% — institutional presence
Aggressive execution 35% — patient
Conviction +46 (bullish) — moderate
Can I trade efficiently?
Evaluates
Spread 17.9% — wide
OI 155,931 — deep
Volume 847/day — adequate
$0.90 to cross — expensive
0 liquid strikes — limited options
Sector spread percentile 89% — much wider than sector
Depth 424.2 contracts (bid:273.4 ask:150.8) — adequate
Avg slippage 5.09% — poor
Is now a good time?
Considers earnings proximity,
Slope +4.6% — flat/unclear
IV percentile 73% — seller opportunity
IV kink 2.8pts — no clear event
θ/ν ratio 56.50 — favors income trades
4 liquid expirations — flexible
HIGH RISK: No earnings detected; FOMC in 0d (HIGH)
Spread ratio 1.00x — stable
Flow +46% @ 73% consistency — STRONG directional (bullish)
Score 68 (ITM 20% + inst 38%) — HIGH institutional
For educational purposes only. Not investment advice.