IV is low. No clear edge detected.
Is IV priced right?
Measures whether options are cheap, fair, or rich relative to historical and peer
IV Rank 12.5% — cheap vs history
IV/HV 1.38x — IV premium over HV
Sector percentile 15% — below sector median
Front/Back 0.96x — contango
Put/Call IV 1.16x — elevated
ATM IV 26.6% — normal range
Effective IV 43.6% (ATM 26.6% + spread 8.5% + bias) — excellent value
Total drag 17.70% (spread 8.50% + slippage 9.20%) — high friction
Vega efficiency 5.51 (vega 4.684 / spread 8.50%) — acceptable
Bullish or bearish?
Analyzes
Conviction-weighted: +2% (neutral) — Raw: -3%
|OI skew| 9.9% — balanced
Vol skew +35.4%, OI skew +9.9% — aligned
0-DTE 27%, far-OTM 15%, avg DTE 30
OI change +0.0% (5d) — stable
ITM: -5%, ATM: +3%, OTM: -6% — neutral (ITM/ATM divergent)
Sector P/C percentile 30% — very bullish vs sector
Unusual activity?
Detects volume surges,
Volume 0.7x avg — normal
Vol/OI 5.0% — normal turnover
Top 3 strikes = 50% — dispersed
1 day(s) elevated — may be one-day event
OI change +10.1% (5d) — building
Sector activity percentile 60% — active vs sector
Large trade volume 5% — mostly retail
Aggressive execution 29% — patient
Conviction +2 (bullish) — mixed
Can I trade efficiently?
Evaluates
Spread 8.5% — wide
OI 410,796 — deep
Volume 20,489/day — active
$0.43 to cross — cheap
2 liquid strikes — limited options
Sector spread percentile 19% — much tighter than sector
Depth 115.19999999999999 contracts (bid:40.9 ask:74.3) — adequate
Avg slippage 9.20% — poor
Is now a good time?
Considers earnings proximity,
Slope -3.5% — flat/unclear
IV percentile 12% — buyer opportunity
IV kink -1.9pts — no clear event
θ/ν ratio 5.05 — favors income trades
5 liquid expirations — flexible
acceptable: Earnings in 11d
Spread ratio 1.00x — stable
Flow +2% @ 51% consistency — unclear
Score 35 (ITM 20% + inst 5%) — retail dominated
For educational purposes only. Not investment advice.