ALTSALT5 Sigma Corporation Common Stock
Options Analysis Report•COMMODITY CONTRACTS BROKERS & DEALERS
Market Cap $125M|NASDAQ
● 2026-04-17$0.98
BULLISH
Analysis: 2026-04-16 EOD data
1Y -82.4%YTD -19.0%7D +4.2%
Options Vol
421
30D
Implied Move
±8.6%
IV Rank
6%
ALTS Options Overview
bullish flow. No clear edge detected.
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 Checks5/9 checks passed
IV Rank
≤35%IV Rank 50.0% — elevated vs history
IV/HV Ratio
<1.05xIV/HV 1.00x — IV ≤ HV
Sector Relative≤50%
Sector percentile 50% — below sector median
Term Structure
<1.1xFront/Back 1.00x — flat
Skew Normal
<1.25xPut/Call IV 1.00x — normal
Absolute IV
<80%ATM IV 0.0% — normal range
Spread-Adjusted Value
<80%Effective IV 159.0% (ATM 0.0% + spread 79.5% + bias) — expensive
Execution Efficiency
<3.0%Total drag 85.89% (spread 79.50% + slippage 6.39%) — high friction
Vega Efficiency
≥5.0Vega efficiency 0.00 (vega 0.000 / spread 79.50%) — spread drag
Sentiment
Bullish or bearish?
8.1
BearishBullish
Analyzes
put/call ratios
, open interest skew
, and flow direction to determine market bias.Risk ChecksVery Bullish - Strong signal (Conviction: +62%, Raw: +28%)
Flow Direction
|net sentiment| ≥25%Conviction-weighted: +62% (strong bullish) — Raw: +28%
OI Skew Magnitude
≥15%|OI skew| 59.3% — call-heavy
Volume-OI Alignment
Same sign, |vol skew| ≥10%Vol skew +21.6%, OI skew +59.3% — aligned
Conviction Quality
≥2/3 conditions0-DTE 1%, far-OTM 15%, avg DTE 30
OI Momentum
|change| ≥3%OI change +0.0% (5d) — stable
Smart Money Flow
|weighted flow| ≥20%ITM: -100%, ATM: +100%, OTM: -36% — bearish (ITM/ATM divergent)
Sector Relative≤40% or ≥60%
Sector P/C percentile 68% — bearish vs sector
Activity
Unusual activity?
3.3
QuietActive
Detects volume surges,
block trades
, and unusual options activity that may signal moves.Risk Checks2/9 checks passed
Volume Surge
≥1.5xVolume 0.5x avg — normal
Turnover Rate
≥15%Vol/OI 1.1% — normal 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 -0.6% (5d) — stable
Sector Relative≥60%
Sector activity percentile 24% — below sector avg
Trade Quality
≥30%Large trade volume 30% — institutional presence
Execution Urgency
≥60%Aggressive execution 6% — patient
Flow Conviction
≥30Conviction +62 (bullish) — strong conviction
Liquidity
Can I trade efficiently?
3.5
IlliquidLiquid
Evaluates
bid-ask spreads
, volume depth, and open interest for trade execution quality.Risk Checks3/8 checks passed
Tradeable Spread
≤5.0%Spread 79.5% — wide
Adequate OI
≥10,000OI 38,444 — adequate
Active Volume
≥500Volume 421/day — thin
Reasonable Cost
≤$0.50$3.98 to cross — expensive
Strike Coverage
≥5 strikes0 liquid strikes — limited options
Sector Relative≤40%
Sector spread percentile 0% — much tighter than sector
Order Book Depth
≥100 contractsDepth 1,385.8 contracts (bid:691.0 ask:694.8) — deep
Execution Quality
<1.0%Avg slippage 6.39% — 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 +0.0% — flat/unclear
IV Percentile Clarity
<30 or >70IV percentile 50% — neutral
Event Detection
≥10pts kinkIV kink 0.0pts — no clear event
Theta/Vega Clarity
<0.5 or >2.0θ/ν ratio 1.00 — favors mixed
Expiration Distribution
≥3 expirations3 liquid expirations — flexible
Event Risk
≥60% (safe)safe window: Earnings in 25d (low risk)
Spread Momentum
<1.2 ratioSpread ratio 1.00x — stable
Flow Momentum
≥25% strength + ≥50% consistencyFlow +62% @ 81% consistency — STRONG directional (bullish)
Smart Money Timing
≥40 composite scoreScore 60 (ITM 20% + inst 30%) — HIGH institutional
Directional Strategy Fit
Option Buyers
Long Calls6.6
bullishIV cheap, bullish flow
Long Puts4.4
bearishIV cheap, bullish flow
Premium Sellers
Cash-Secured Put5.6
bullishIV too cheap, bullish flow
Covered Call3.4
bearishIV too cheap, bullish flow
For educational purposes only. Not investment advice.