Options/WSO

WSOWatsco, Inc.

Options Analysis Report•WHOLESALE-HARDWARE & PLUMBING & HEATING EQUIPMENT & SUPPLIES

Market Cap $12.8B|NYSE

● 2026-09-11$310.90

BULLISH

Analysis: 2026-09-10 EOD data

1Y -21.8%YTD -10.5%7D -1.3%

Options Vol

272

30D

Implied Move

±8.6%

IV Rank

WSO Options Overview

bullish flow. No clear edge detected.

REWARDS

RISK ANALYSIS

Snowflake Analysis

Balanced conditions with no clear edge

Learn

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WSO Gamma Walls

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Value

Is IV priced right?

6.4

ExpensiveCheap

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

levels.

Risk Checks5/9 checks passed

IV Rank

≤35%

IV Rank 51.0% — elevated vs history

IV/HV Ratio

<1.05x

IV/HV 1.42x — IV premium over HV

Sector Relative≤50%

Sector percentile 34% — below sector median

Term Structure

<1.1x

Front/Back 0.86x — contango

Skew Normal

<1.25x

Put/Call IV 1.16x — elevated

Absolute IV

<80%

ATM IV 35.4% — normal range

Spread-Adjusted Value

<80%

Effective IV 88.6% (ATM 35.4% + spread 26.6% + bias) — expensive

Execution Efficiency

<3.0%

Total drag 38.16% (spread 26.61% + slippage 11.55%) — high friction

Vega Efficiency

≥5.0

Vega efficiency 14.51 (vega 38.617 / spread 26.61%) — efficient

Sentiment

Bullish or bearish?

7.5

BearishBullish

Analyzes

put/call ratios

open interest skew

, and flow direction to determine market bias.

Risk ChecksBullish - Strong signal (Conviction: +30%, Raw: +24%)

Flow Direction

|net sentiment| ≥25%

Conviction-weighted: +30% (bullish) — Raw: +24%

OI Skew Magnitude

≥15%

|OI skew| 63.1% — call-heavy

Volume-OI Alignment

Same sign, |vol skew| ≥10%

Vol skew +54.4%, OI skew +63.1% — aligned

Conviction Quality

≥2/3 conditions

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

OI Momentum

|change| ≥3%

OI change +0.0% (5d) — stable

Smart Money Flow

|weighted flow| ≥20%

ITM: +0%, ATM: +11%, OTM: +26% — neutral (ITM/ATM divergent)

Sector Relative≤40% or ≥60%

Sector P/C percentile 24% — very bullish vs sector

Activity

Unusual activity?

5.4

QuietActive

Detects volume surges,

block trades

, and unusual options activity that may signal moves.

Risk Checks3/8 checks passed

Volume Surge

≥1.5x

Volume 1.1x avg — normal

Turnover Rate

≥15%

Vol/OI 6.1% — normal turnover

Multi-Day Persistence

≥2 days

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

OI Build

≥5%

OI change +5.5% (5d) — building

Sector Relative≥60%

Sector activity percentile 86% — very active vs sector

Trade Quality

≥30%

Large trade volume 74% — heavy institutional

Execution Urgency

≥60%

Aggressive execution 12% — patient

Flow Conviction

≥30

Conviction +30 (bullish) — mixed

Liquidity

Can I trade efficiently?

2.5

IlliquidLiquid

Evaluates

bid-ask spreads

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

Risk Checks0/8 checks passed

Tradeable Spread

≤5.0%

Spread 26.6% — wide

Adequate OI

≥10,000

OI 4,468 — thin

Active Volume

≥500

Volume 272/day — thin

Reasonable Cost

≤$0.50

$1.33 to cross — expensive

Strike Coverage

≥5 strikes

0 liquid strikes — limited options

Sector Relative≤40%

Sector spread percentile 60% — neutral vs sector

Order Book Depth

≥100 contracts

Depth 28.0 contracts (bid:13.2 ask:14.8) — thin

Execution Quality

<1.0%

Avg slippage 11.55% — poor

Timing

Is now a good time?

6.4

RiskyFavorable

Considers earnings proximity,

time decay

, and event calendar for optimal entry timing.

Risk Checks6/9 checks passed

Term Structure Clarity

|slope| ≥5%

Slope -14.3% — contango

IV Percentile Clarity

<30 or >70

IV percentile 51% — neutral

Event Detection

≥10pts kink

IV kink -3.8pts — no clear event

Theta/Vega Clarity

<0.5 or >2.0

θ/ν ratio 239.86 — favors income trades

Expiration Distribution

≥3 expirations

4 liquid expirations — flexible

Event Risk

≥60% (safe)

caution advised: FOMC in 5d; CPI in 0d (HIGH)

Spread Momentum

<1.2 ratio

Spread ratio 1.00x — stable

Flow Momentum

≥25% strength + ≥50% consistency

Flow +30% @ 64% consistency — moderate (bullish)

Smart Money Timing

≥40 composite score

Score 104 (ITM 20% + inst 74%) — HIGH institutional

Directional Strategy Fit

Option Buyers

Long Calls7.1

bullishIV cheap, bullish flow

Long Puts4.4

bearishIV cheap, bullish flow

Premium Sellers

Cash-Secured Put5.2

bullishIV too cheap, bullish flow

Covered Call3.4

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 Sep 7, 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 WSO

WSO gamma walls WSO option chain WSO max pain WSO expected move WSO IV rank WSO put/call ratio WSO options flow