ADIAnalog Devices, Inc.
Options Analysis Report•SEMICONDUCTORS & RELATED DEVICES
Market Cap $181.3B|NASDAQ
● 2026-04-17$371.45
NEUTRAL
Analysis: 2026-04-16 EOD data
1Y +112.3%YTD +35.7%7D +6.1%
Options Vol
14,653
30D
Implied Move
±11.2%
IV Rank
41%
ADI Options Overview
Mixed signals. Conditions favor premium sellers.
REWARDS
RISK ANALYSIS
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Value
Is IV priced right?
6.5
ExpensiveCheap
Measures whether options are cheap, fair, or rich relative to historical and peer
IV
levels.Risk Checks6/9 checks passed
IV Rank
≤35%IV Rank 58.6% — elevated vs history
IV/HV Ratio
<1.05xIV/HV 1.17x — IV premium over HV
Sector Relative≤50%
Sector percentile 19% — below sector median
Term Structure
<1.1xFront/Back 1.04x — flat
Skew Normal
<1.25xPut/Call IV 1.16x — elevated
Absolute IV
<80%ATM IV 38.7% — normal range
Spread-Adjusted Value
<80%Effective IV 48.8% (ATM 38.7% + spread 5.0% + bias) — excellent value
Execution Efficiency
<3.0%Total drag 8.26% (spread 5.04% + slippage 3.22%) — high friction
Vega Efficiency
≥5.0Vega efficiency 10.20 (vega 5.140 / spread 5.04%) — efficient
Sentiment
Bullish or bearish?
4.3
BearishBullish
Analyzes
put/call ratios
, open interest skew
, and flow direction to determine market bias.Risk ChecksNeutral - Weak signal (Conviction: -1%, Raw: -1%)
Flow Direction
|net sentiment| ≥25%Conviction-weighted: -1% (neutral) — Raw: -1%
OI Skew Magnitude
≥15%|OI skew| 8.7% — balanced
Volume-OI Alignment
Same sign, |vol skew| ≥10%Vol skew -35.3%, OI skew +8.7% — divergent (opposite)
Conviction Quality
≥2/3 conditions0-DTE 40%, far-OTM 15%, avg DTE 30
OI Momentum
|change| ≥3%OI change +0.0% (5d) — stable
Smart Money Flow
|weighted flow| ≥20%ITM: +36%, ATM: -2%, OTM: -1% — bullish (ITM/ATM divergent)
Sector Relative≤40% or ≥60%
Sector P/C percentile 94% — very bearish vs sector
Activity
Unusual activity?
6.5
QuietActive
Detects volume surges,
block trades
, and unusual options activity that may signal moves.Risk Checks5/9 checks passed
Volume Surge
≥1.5xVolume 2.1x avg — hot
Turnover Rate
≥15%Vol/OI 16.2% — high turnover
Strike Concentration
≥60%Top 3 strikes = 50% — dispersed
Multi-Day Persistence
≥2 days1 day(s) elevated — may be one-day event
OI Build
≥5%OI change +11.6% (5d) — building
Sector Relative≥60%
Sector activity percentile 85% — very active vs sector
Trade Quality
≥30%Large trade volume 64% — heavy institutional
Execution Urgency
≥60%Aggressive execution 34% — patient
Flow Conviction
≥30Conviction -1 (bearish) — mixed
Liquidity
Can I trade efficiently?
5.9
IlliquidLiquid
Evaluates
bid-ask spreads
, volume depth, and open interest for trade execution quality.Risk Checks4/8 checks passed
Tradeable Spread
≤5.0%Spread 5.0% — wide
Adequate OI
≥10,000OI 90,233 — deep
Active Volume
≥500Volume 14,653/day — active
Reasonable Cost
≤$0.50$0.25 to cross — cheap
Strike Coverage
≥5 strikes0 liquid strikes — limited options
Sector Relative≤40%
Sector spread percentile 21% — tighter than sector
Order Book Depth
≥100 contractsDepth 50.8 contracts (bid:25.8 ask:25.0) — thin
Execution Quality
<1.0%Avg slippage 3.22% — poor
Timing
Is now a good time?
6.6
RiskyFavorable
Considers earnings proximity,
time decay
, and event calendar for optimal entry timing.Risk Checks5/9 checks passed
Term Structure Clarity
|slope| ≥5%Slope +4.3% — flat/unclear
IV Percentile Clarity
<30 or >70IV percentile 59% — neutral
Event Detection
≥10pts kinkIV kink 0.3pts — no clear event
Theta/Vega Clarity
<0.5 or >2.0θ/ν ratio 5.19 — favors income trades
Expiration Distribution
≥3 expirations5 liquid expirations — flexible
Event Risk
≥60% (safe)safe window: No events detected
Spread Momentum
<1.2 ratioSpread ratio 1.00x — stable
Flow Momentum
≥25% strength + ≥50% consistencyFlow -1% @ 51% consistency — unclear
Smart Money Timing
≥40 composite scoreScore 94 (ITM 20% + inst 64%) — HIGH institutional
Directional Strategy Fit
Option Buyers
Long Calls5.7
bullishIV cheap, mixed flow
Long Puts6.2
bearishIV cheap, mixed flow
Premium Sellers
Cash-Secured Put4.7
bullishIV too cheap, mixed flow
Covered Call5.2
bearishIV too cheap, mixed flow
For educational purposes only. Not investment advice.