IV is low with bearish flow. No clear edge detected.
Is IV priced right?
Measures whether options are cheap, fair, or rich relative to historical and peer
IV Rank 4.6% — cheap vs history
IV/HV 1.98x — IV premium over HV
Sector percentile 7% — below sector median
Front/Back 0.90x — contango
Put/Call IV 1.16x — elevated
ATM IV 18.8% — normal range
Effective IV 32.6% (ATM 18.8% + spread 6.9% + bias) — excellent value
Total drag 10.56% (spread 6.88% + slippage 3.68%) — high friction
Vega efficiency 4.25 (vega 2.927 / spread 6.88%) — spread drag
Bullish or bearish?
Analyzes
Conviction-weighted: +2% (neutral) — Raw: +2%
|OI skew| 22.0% — put-heavy
Vol skew -41.6%, OI skew -22.0% — aligned
0-DTE 8%, far-OTM 15%, avg DTE 30
OI change +0.0% (5d) — stable
ITM: +25%, ATM: +2%, OTM: +1% — bullish (ITM/ATM aligned)
Sector P/C percentile 93% — very bearish vs sector
Unusual activity?
Detects volume surges,
Volume 0.9x avg — normal
Vol/OI 2.5% — normal turnover
Top 3 strikes = 50% — dispersed
1 day(s) elevated — may be one-day event
OI change +4.5% (5d) — building
Sector activity percentile 45% — neutral vs sector
Large trade volume 76% — heavy institutional
Aggressive execution 71% — urgent
Conviction +2 (bullish) — mixed
Can I trade efficiently?
Evaluates
Spread 6.9% — wide
OI 6,476,164 — deep
Volume 164,737/day — active
$0.34 to cross — cheap
0 liquid strikes — limited options
Sector spread percentile 22% — tighter than sector
Depth 443.4 contracts (bid:246.3 ask:197.1) — adequate
Avg slippage 3.68% — poor
Is now a good time?
Considers earnings proximity,
Slope -9.7% — contango
IV percentile 5% — buyer opportunity
IV kink -0.3pts — no clear event
θ/ν ratio 83.86 — favors income trades
5 liquid expirations — flexible
safe window: No earnings detected
Spread ratio 1.00x — stable
Flow +2% @ 51% consistency — unclear
Score 106 (ITM 20% + inst 76%) — HIGH institutional
For educational purposes only. Not investment advice.