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AMZYYieldMax AMZN Option Income Strategy ETF

Options Analysis Report
Market Cap: --|ARCX
● 2026-08-31$10.90
NEUTRAL
Analysis: 2026-08-28 EOD data
1Y -27.2%YTD -16.2%7D +0.3%
64
30D
±5.1%
9%

AMZY Options Overview

bullish flow with unusual activity. No clear edge detected.

REWARDS

RISK ANALYSIS

5.0VALUESENTIMENTACTIVITYLIQUIDITYTIMING

Snowflake Analysis

Balanced conditions with no clear edge

Learn
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AMZY Gamma Walls

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Value

Is IV priced right?

5.7
ExpensiveCheap

Measures whether options are cheap, fair, or rich relative to historical and peer

levels.

Risk Checks3/9 checks passed
≤35%

IV Rank 44.8% — elevated vs history

<1.05x

IV/HV 1.18x — IV premium over HV

Sector Relative≤50%

Sector percentile 65% — above sector median

<1.1x

Front/Back 0.48x — contango

<1.25x

Put/Call IV 1.16x — elevated

<80%

ATM IV 29.6% — normal range

<80%

Effective IV 206.3% (ATM 29.6% + spread 88.4% + bias) — expensive

<3.0%

Total drag 119.58% (spread 88.37% + slippage 31.21%) — high friction

≥5.0

Vega efficiency 0.18 (vega 1.587 / spread 88.37%) — spread drag

Sentiment

Bullish or bearish?

4.7
BearishBullish

Analyzes

,
, and flow direction to determine market bias.

Risk ChecksBearish - Moderate signal (Conviction: -26%, Raw: -33%)
|net sentiment| ≥25%

Conviction-weighted: -26% (bearish) — Raw: -33%

≥15%

|OI skew| 11.7% — balanced

Same sign, |vol skew| ≥10%

Vol skew +93.8%, OI skew -11.7% — divergent (opposite)

≥2/3 conditions

0-DTE 0%, far-OTM 15%, avg DTE 30

|change| ≥3%

OI change +0.0% (5d) — stable

|weighted flow| ≥20%

ITM: -100%, ATM: -17%, OTM: +0% — strong bearish (ITM/ATM aligned)

Sector Relative≤40% or ≥60%

Sector P/C percentile 2% — very bullish vs sector

Activity

Unusual activity?

5.3
QuietActive

Detects volume surges,

, and unusual options activity that may signal moves.

Risk Checks2/8 checks passed
≥1.5x

Volume 1.8x avg — elevated

≥15%

Vol/OI 7.6% — normal turnover

≥2 days

1 day(s) elevated — may be one-day event

≥5%

OI change +4.5% (5d) — building

Sector Relative≥60%

Sector activity percentile 79% — active vs sector

≥30%

Large trade volume 0% — mostly retail

≥60%

Aggressive execution 0% — patient

≥30

Conviction -26 (bearish) — mixed

Liquidity

Can I trade efficiently?

2.1
IlliquidLiquid

Evaluates

, volume depth, and open interest for trade execution quality.

Risk Checks0/8 checks passed
≤5.0%

Spread 88.4% — wide

≥10,000

OI 838 — thin

≥500

Volume 64/day — thin

≤$0.50

$4.42 to cross — expensive

≥5 strikes

0 liquid strikes — limited options

Sector Relative≤40%

Sector spread percentile 73% — wider than sector

≥100 contracts

Depth 15.3 contracts (bid:10.6 ask:4.7) — thin

<1.0%

Avg slippage 31.21% — poor

Timing

Is now a good time?

6.9
RiskyFavorable

Considers earnings proximity,

, and event calendar for optimal entry timing.

Risk Checks6/9 checks passed
|slope| ≥5%

Slope -52.3% — contango

<30 or >70

IV percentile 45% — neutral

≥10pts kink

IV kink -6.2pts — no clear event

<0.5 or >2.0

θ/ν ratio 721.36 — favors income trades

≥3 expirations

3 liquid expirations — flexible

≥60% (safe)

safe window: No earnings detected

<1.2 ratio

Spread ratio 1.00x — stable

≥25% strength + ≥50% consistency

Flow -26% @ 63% consistency — moderate (bearish)

≥40 composite score

Score 30 (ITM 20% + inst 0%) — retail dominated

Directional Strategy Fit

Option Buyers
Long Calls5.0
bullishIV fair, mixed flow
Long Puts5.2
bearishIV fair, mixed flow
Premium Sellers
Cash-Secured Put4.4
bullishIV fair, mixed flow
Covered Call4.6
bearishIV fair, mixed flow

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.

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