AInvestOption Pilot Program
Options/VIXM
V

VIXMProShares VIX Mid-Term Futures ETF

Options Analysis Report•COMMODITY CONTRACTS BROKERS & DEALERS
AUM $161M|BATS
● 2026-08-31$13.66
VERY BULLISH
Analysis: 2026-08-28 EOD data
1Y -17.7%YTD -10.1%7D -2.1%
799
30D
±8.2%
14%

VIXM Options Overview

bullish flow. Conditions favor option buyers.

REWARDS

RISK ANALYSIS

5.9VALUESENTIMENTACTIVITYLIQUIDITYTIMING

Snowflake Analysis

Favorable conditions for option buyers

Learn
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VIXM Gamma Walls

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Value

Is IV priced right?

6.7
ExpensiveCheap

Measures whether options are cheap, fair, or rich relative to historical and peer

levels.

Risk Checks6/9 checks passed
≤35%

IV Rank 50.0% — elevated vs history

<1.05x

IV/HV 1.00x — IV ≤ HV

Sector Relative≤50%

Sector percentile 50% — below sector median

<1.1x

Front/Back 0.73x — contango

<1.25x

Put/Call IV 1.00x — normal

<80%

ATM IV 0.0% — normal range

<80%

Effective IV 28.2% (ATM 0.0% + spread 14.1% + bias) — excellent value

<3.0%

Total drag 25.36% (spread 14.08% + slippage 11.28%) — high friction

≥5.0

Vega efficiency 0.00 (vega 0.000 / spread 14.08%) — spread drag

Sentiment

Bullish or bearish?

7.8
BearishBullish

Analyzes

,
, and flow direction to determine market bias.

Risk ChecksVery Bullish - Strong signal (Conviction: +37%, Raw: +36%)
|net sentiment| ≥25%

Conviction-weighted: +37% (strong bullish) — Raw: +36%

≥15%

|OI skew| 96.3% — call-heavy

Same sign, |vol skew| ≥10%

Vol skew +98.7%, OI skew +96.3% — aligned

≥2/3 conditions

0-DTE 0%, far-OTM 15%, avg DTE 30

|change| ≥3%

OI change +0.0% (5d) — stable

|weighted flow| ≥20%

ITM: +16%, ATM: +100%, OTM: +21% — strong bullish (ITM/ATM aligned)

Sector Relative≤40% or ≥60%

Sector P/C percentile 0% — very bullish vs sector

Activity

Unusual activity?

4.8
QuietActive

Detects volume surges,

, and unusual options activity that may signal moves.

Risk Checks2/8 checks passed
≥1.5x

Volume 2.6x avg — hot

≥15%

Vol/OI 1.3% — normal turnover

≥2 days

1 day(s) elevated — may be one-day event

≥5%

OI change +1.1% (5d) — stable

Sector Relative≥60%

Sector activity percentile 37% — below sector avg

≥30%

Large trade volume 12% — mostly retail

≥60%

Aggressive execution 56% — patient

≥30

Conviction +37 (bullish) — moderate

Liquidity

Can I trade efficiently?

3.6
IlliquidLiquid

Evaluates

, volume depth, and open interest for trade execution quality.

Risk Checks4/8 checks passed
≤5.0%

Spread 14.1% — wide

≥10,000

OI 60,470 — deep

≥500

Volume 799/day — adequate

≤$0.50

$0.70 to cross — expensive

≥5 strikes

0 liquid strikes — limited options

Sector Relative≤40%

Sector spread percentile 0% — much tighter than sector

≥100 contracts

Depth 133.8 contracts (bid:49.6 ask:84.2) — adequate

<1.0%

Avg slippage 11.28% — poor

Timing

Is now a good time?

6.7
RiskyFavorable

Considers earnings proximity,

, and event calendar for optimal entry timing.

Risk Checks6/9 checks passed
|slope| ≥5%

Slope -26.8% — contango

<30 or >70

IV percentile 50% — neutral

≥10pts kink

IV kink -7.8pts — no clear event

<0.5 or >2.0

θ/ν ratio 1.00 — favors mixed

≥3 expirations

3 liquid expirations — flexible

≥60% (safe)

safe window: No earnings detected

<1.2 ratio

Spread ratio 1.00x — stable

≥25% strength + ≥50% consistency

Flow +37% @ 68% consistency — moderate (bullish)

≥40 composite score

Score 42 (ITM 20% + inst 12%) — moderate institutional

Directional Strategy Fit

Option Buyers
Long Calls7.4
bullishIV cheap, bullish flow
Long Puts4.7
bearishIV cheap, bullish flow
Premium Sellers
Cash-Secured Put5.4
bullishIV too cheap, bullish flow
Covered Call3.5
bearishIV too cheap, bullish flow

For educational purposes only. Not investment advice.

The Options Desk tracks the move options price into every US earnings report the week of Aug 31, 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.

More on VIXM

VIXM gamma wallsVIXM max painVIXM IV rankVIXM options flow