Mixed signals. No clear edge detected.
Is IV priced right?
Measures whether options are cheap, fair, or rich relative to historical and peer
IV Rank 44.4% — elevated vs history
IV/HV 1.37x — IV premium over HV
Sector percentile 61% — above sector median
Front/Back 1.29x — backwardation
Put/Call IV 1.16x — elevated
ATM IV 35.8% — normal range
Effective IV 75.0% (ATM 35.8% + spread 19.6% + bias) — fair
Total drag 25.84% (spread 19.61% + slippage 6.23%) — high friction
Vega efficiency 6.72 (vega 13.177 / spread 19.61%) — acceptable
Bullish or bearish?
Analyzes
Conviction-weighted: -60% (strong bearish) — Raw: -41%
|OI skew| 29.1% — call-heavy
Vol skew +78.2%, OI skew +29.1% — aligned
0-DTE 0%, far-OTM 15%, avg DTE 30
OI change +0.0% (5d) — stable
ITM: -46%, ATM: +7%, OTM: -42% — bearish (ITM/ATM divergent)
Sector P/C percentile 8% — very bullish vs sector
Unusual activity?
Detects volume surges,
Volume 0.6x avg — normal
Vol/OI 2.5% — normal turnover
Top 3 strikes = 50% — dispersed
1 day(s) elevated — may be one-day event
OI change +0.3% (5d) — stable
Sector activity percentile 55% — neutral vs sector
Large trade volume 45% — institutional presence
Aggressive execution 20% — patient
Conviction -60 (bearish) — strong conviction
Can I trade efficiently?
Evaluates
Spread 19.6% — wide
OI 178,581 — deep
Volume 4,463/day — adequate
$0.98 to cross — expensive
0 liquid strikes — limited options
Sector spread percentile 68% — wider than sector
Depth 347.5 contracts (bid:181.5 ask:166.0) — adequate
Avg slippage 6.23% — poor
Is now a good time?
Considers earnings proximity,
Slope +29.3% — backwardation
IV percentile 44% — neutral
IV kink 8.0pts — no clear event
θ/ν ratio 221.46 — favors income trades
4 liquid expirations — flexible
caution advised: No earnings detected; CPI in 1d (HIGH)
Spread ratio 1.00x — stable
Flow -60% @ 80% consistency — STRONG directional (bearish)
Score 75 (ITM 20% + inst 45%) — HIGH institutional
For educational purposes only. Not investment advice.