IV is low. Conditions favor option buyers.
Is IV priced right?
Measures whether options are cheap, fair, or rich relative to historical and peer
IV Rank 14.1% — cheap vs history
IV/HV 1.33x — IV premium over HV
Sector percentile 22% — below sector median
Front/Back 1.57x — backwardation
Put/Call IV 1.16x — elevated
ATM IV 25.1% — normal range
Effective IV 60.4% (ATM 25.1% + spread 17.6% + bias) — good value
Total drag 22.89% (spread 17.65% + slippage 5.24%) — high friction
Vega efficiency 21.69 (vega 38.279 / spread 17.65%) — efficient
Bullish or bearish?
Analyzes
Conviction-weighted: +3% (neutral) — Raw: +4%
|OI skew| 76.7% — put-heavy
Vol skew +16.6%, OI skew -76.7% — divergent (opposite)
0-DTE 21%, far-OTM 15%, avg DTE 30
OI change +0.0% (5d) — stable
ITM: +13%, ATM: +42%, OTM: -26% — bullish (ITM/ATM aligned)
Sector P/C percentile 27% — very bullish vs sector
Unusual activity?
Detects volume surges,
Volume 0.2x avg — normal
Vol/OI 0.5% — normal turnover
Top 3 strikes = 50% — dispersed
1 day(s) elevated — may be one-day event
OI change +1.1% (5d) — stable
Sector activity percentile 13% — quiet vs sector
Large trade volume 14% — mostly retail
Aggressive execution 25% — patient
Conviction +3 (bullish) — mixed
Can I trade efficiently?
Evaluates
Spread 17.6% — wide
OI 259,370 — deep
Volume 1,420/day — adequate
$0.88 to cross — expensive
0 liquid strikes — limited options
Sector spread percentile 35% — tighter than sector
Depth 150.60000000000002 contracts (bid:85.4 ask:65.2) — adequate
Avg slippage 5.24% — poor
Is now a good time?
Considers earnings proximity,
Slope +56.8% — backwardation
IV percentile 14% — buyer opportunity
IV kink 9.5pts — no clear event
θ/ν ratio 2057.99 — favors income trades
5 liquid expirations — flexible
safe window: No earnings detected
Spread ratio 1.00x — stable
Flow +3% @ 52% consistency — unclear
Score 44 (ITM 20% + inst 14%) — moderate institutional
For educational purposes only. Not investment advice.