AInvestOption Pilot Program
Options/VOX
V

VOXVanguard Communication Services ETF

Options Analysis Report
AUM $6.0B|ARCX
● 2026-08-31$188.56
NEUTRAL
Analysis: 2026-08-28 EOD data
1Y +5.0%YTD -2.3%7D +0.6%
5
30D
±5.2%
9%

VOX Options Overview

IV is low with bearish flow. Conditions favor option buyers.

REWARDS

RISK ANALYSIS

4.7VALUESENTIMENTACTIVITYLIQUIDITYTIMING

Snowflake Analysis

Favorable conditions for option buyers

Learn
Loading score history...

VOX Gamma Walls

Loading gamma walls...

Value

Is IV priced right?

7.5
ExpensiveCheap

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

levels.

Risk Checks6/9 checks passed
≤35%

IV Rank 19.0% — cheap vs history

<1.05x

IV/HV 0.95x — IV ≤ HV

Sector Relative≤50%

Sector percentile 34% — below sector median

<1.1x

Front/Back 0.92x — contango

<1.25x

Put/Call IV 1.16x — elevated

<80%

ATM IV 18.8% — normal range

<80%

Effective IV 269.6% (ATM 18.8% + spread 125.4% + bias) — expensive

<3.0%

Total drag 139.52% (spread 125.42% + slippage 14.10%) — high friction

≥5.0

Vega efficiency 3.54 (vega 44.455 / spread 125.42%) — spread drag

Sentiment

Bullish or bearish?

4.2
BearishBullish

Analyzes

,
, and flow direction to determine market bias.

Risk ChecksNeutral - Weak signal (Conviction: -7%, Raw: +0%)
|net sentiment| ≥25%

Conviction-weighted: -7% (neutral) — Raw: +0%

≥15%

|OI skew| 73.3% — call-heavy

Same sign, |vol skew| ≥10%

Vol skew -60.0%, OI skew +73.3% — divergent (opposite)

≥2/3 conditions

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

|change| ≥3%

OI change +0.0% (5d) — stable

|weighted flow| ≥20%

ITM: +0%, ATM: +0%, OTM: +0% — neutral (ITM/ATM divergent)

Sector Relative≤40% or ≥60%

Sector P/C percentile 96% — very bearish vs sector

Activity

Unusual activity?

3.0
QuietActive

Detects volume surges,

, and unusual options activity that may signal moves.

Risk Checks0/8 checks passed
≥1.5x

Volume 1.1x avg — normal

≥15%

Vol/OI 1.3% — normal turnover

≥2 days

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

≥5%

OI change +3.6% (5d) — building

Sector Relative≥60%

Sector activity percentile 38% — below sector avg

≥30%

Large trade volume 0% — mostly retail

≥60%

Aggressive execution 20% — patient

≥30

Conviction -7 (bearish) — mixed

Liquidity

Can I trade efficiently?

2.2
IlliquidLiquid

Evaluates

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

Risk Checks0/8 checks passed
≤5.0%

Spread 125.4% — wide

≥10,000

OI 374 — thin

≥500

Volume 5/day — thin

≤$0.50

$6.27 to cross — expensive

≥5 strikes

0 liquid strikes — limited options

Sector Relative≤40%

Sector spread percentile 50% — neutral vs sector

≥100 contracts

Depth 48.2 contracts (bid:30.2 ask:18.0) — thin

<1.0%

Avg slippage 14.10% — poor

Timing

Is now a good time?

6.9
RiskyFavorable

Considers earnings proximity,

, and event calendar for optimal entry timing.

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

Slope -7.6% — contango

<30 or >70

IV percentile 19% — buyer opportunity

≥10pts kink

IV kink -0.5pts — no clear event

<0.5 or >2.0

θ/ν ratio 1163.75 — favors income trades

≥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 -7% @ 67% consistency — unclear

≥40 composite score

Score 30 (ITM 20% + inst 0%) — retail dominated

Directional Strategy Fit

Option Buyers
Long Calls5.4
bullishIV cheap, mixed flow
Long Puts6.0
bearishIV cheap, mixed flow
Premium Sellers
Cash-Secured Put3.7
bullishIV too cheap, mixed flow
Covered Call4.3
bearishIV too cheap, mixed 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 VOX

VOX gamma wallsVOX max painVOX IV rankVOX options flow