unusual activity. Conditions favor premium sellers.
Is IV priced right?
Measures whether options are cheap, fair, or rich relative to historical and peer
IV Rank 64.9% — elevated vs history
IV/HV 1.06x — IV premium over HV
Sector percentile 79% — above sector median
Front/Back 1.14x — backwardation
Put/Call IV 1.16x — elevated
ATM IV 49.2% — normal range
Effective IV 74.4% (ATM 49.2% + spread 12.6% + bias) — fair
Total drag 18.99% (spread 12.62% + slippage 6.37%) — high friction
Vega efficiency 14.79 (vega 18.660 / spread 12.62%) — efficient
Bullish or bearish?
Analyzes
Conviction-weighted: -5% (neutral) — Raw: -6%
|OI skew| 22.5% — put-heavy
Vol skew -7.7%, OI skew -22.5% — weak (same direction)
0-DTE 31%, far-OTM 15%, avg DTE 30
OI change +0.0% (5d) — stable
ITM: +10%, ATM: -6%, OTM: -7% — neutral (ITM/ATM divergent)
Sector P/C percentile 89% — very bearish vs sector
Unusual activity?
Detects volume surges,
Volume 1.1x avg — normal
Vol/OI 12.0% — normal turnover
Top 3 strikes = 50% — dispersed
1 day(s) elevated — may be one-day event
OI change +7.7% (5d) — building
Sector activity percentile 90% — very active vs sector
Large trade volume 42% — institutional presence
Aggressive execution 27% — patient
Conviction -5 (bearish) — mixed
Can I trade efficiently?
Evaluates
Spread 12.6% — wide
OI 1,894,806 — deep
Volume 227,621/day — active
$0.63 to cross — expensive
2 liquid strikes — limited options
Sector spread percentile 82% — much wider than sector
Depth 158.0 contracts (bid:76.0 ask:82.0) — adequate
Avg slippage 6.37% — poor
Is now a good time?
Considers earnings proximity,
Slope +13.5% — backwardation
IV percentile 65% — neutral
IV kink 2.8pts — no clear event
θ/ν ratio 176.71 — favors income trades
4 liquid expirations — flexible
acceptable: No earnings detected; FOMC in 5d
Spread ratio 1.00x — stable
Flow -5% @ 53% consistency — unclear
Score 72 (ITM 20% + inst 42%) — HIGH institutional
For educational purposes only. Not investment advice.