AL
AL Options Overview
IV is low with bullish flow. Conditions favor option buyers.
REWARDS
RISK ANALYSIS
AL Gamma Walls
Value
Is IV priced right?
Measures whether options are cheap, fair, or rich relative to historical and peer
IV Rank 0.1% — cheap vs history
IV/HV 0.79x — IV ≤ HV
Sector percentile 0% — below sector median
Front/Back 0.58x — contango
Put/Call IV 1.16x — elevated
ATM IV 1.5% — normal range
Effective IV 185.3% (ATM 1.5% + spread 91.9% + bias) — expensive
Total drag 130.24% (spread 91.89% + slippage 38.35%) — high friction
Vega efficiency 0.00 (vega 0.000 / spread 91.89%) — spread drag
Sentiment
Bullish or bearish?
Analyzes
Conviction-weighted: +33% (strong bullish) — Raw: +33%
|OI skew| 1.8% — balanced
Vol skew +87.1%, OI skew -1.8% — divergent (opposite)
0-DTE 0%, far-OTM 15%, avg DTE 30
OI change +0.0% (5d) — stable
ITM: +0%, ATM: +33%, OTM: +0% — bullish (ITM/ATM divergent)
Sector P/C percentile 7% — very bullish vs sector
Activity
Unusual activity?
Detects volume surges,
Volume 0.0x avg — normal
Vol/OI 0.3% — normal turnover
Top 3 strikes = 50% — dispersed
1 day(s) elevated — may be one-day event
OI change -0.1% (5d) — stable
Sector activity percentile 15% — quiet vs sector
Large trade volume 0% — mostly retail
Aggressive execution 100% — highly urgent
Conviction +33 (bullish) — moderate
Liquidity
Can I trade efficiently?
Evaluates
Spread 91.9% — wide
OI 10,058 — adequate
Volume 31/day — thin
$4.59 to cross — expensive
0 liquid strikes — limited options
Sector spread percentile 39% — tighter than sector
Depth 68.0 contracts (bid:1.0 ask:67.0) — thin
Avg slippage 38.35% — poor
Timing
Is now a good time?
Considers earnings proximity,
Slope -42.1% — contango
IV percentile 0% — buyer opportunity
IV kink -0.4pts — no clear event
θ/ν ratio 1.00 — favors mixed
3 liquid expirations — flexible
caution advised: Earnings in 26d (low risk); CPI in 2d (HIGH)
Spread ratio 1.00x — stable
Flow +33% @ 67% consistency — moderate (bullish)
Score 30 (ITM 20% + inst 0%) — retail dominated
Directional Strategy Fit
For educational purposes only. Not investment advice.
The Options Desk tracks the move options price into every US earnings report the week of Aug 31, 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.