AONAon plc Class A
Options Analysis Report•INSURANCE AGENTS, BROKERS & SERVICE
Market Cap $71.1B|NYSE
● 2026-04-17$331.80
BULLISH
Analysis: 2026-04-16 EOD data
1Y -6.8%YTD -3.6%7D +6.2%
Options Vol
647
30D
Implied Move
±9.2%
IV Rank
40%
AON Options Overview
IV is low with bullish flow. No clear edge detected.
REWARDS
RISK ANALYSIS
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Value
Is IV priced right?
7.0
ExpensiveCheap
Measures whether options are cheap, fair, or rich relative to historical and peer
IV
levels.Risk Checks7/9 checks passed
IV Rank
≤35%IV Rank 29.1% — cheap vs history
IV/HV Ratio
<1.05xIV/HV 0.95x — IV ≤ HV
Sector Relative≤50%
Sector percentile 48% — below sector median
Term Structure
<1.1xFront/Back 1.11x — backwardation
Skew Normal
<1.25xPut/Call IV 1.16x — elevated
Absolute IV
<80%ATM IV 30.9% — normal range
Spread-Adjusted Value
<80%Effective IV 47.0% (ATM 30.9% + spread 8.1% + bias) — excellent value
Execution Efficiency
<3.0%Total drag 15.14% (spread 8.05% + slippage 7.09%) — high friction
Vega Efficiency
≥5.0Vega efficiency 7.03 (vega 5.660 / spread 8.05%) — efficient
Sentiment
Bullish or bearish?
8.2
BearishBullish
Analyzes
put/call ratios
, open interest skew
, and flow direction to determine market bias.Risk ChecksVery Bullish - Strong signal (Conviction: +47%, Raw: +50%)
Flow Direction
|net sentiment| ≥25%Conviction-weighted: +47% (strong bullish) — Raw: +50%
OI Skew Magnitude
≥15%|OI skew| 20.1% — call-heavy
Volume-OI Alignment
Same sign, |vol skew| ≥10%Vol skew +57.7%, OI skew +20.1% — aligned
Conviction Quality
≥2/3 conditions0-DTE 44%, far-OTM 15%, avg DTE 30
OI Momentum
|change| ≥3%OI change +0.0% (5d) — stable
Smart Money Flow
|weighted flow| ≥20%ITM: +0%, ATM: +71%, OTM: +21% — strong bullish (ITM/ATM divergent)
Sector Relative≤40% or ≥60%
Sector P/C percentile 16% — very bullish 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 2.5x avg — hot
Turnover Rate
≥15%Vol/OI 9.2% — 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 +12.1% (5d) — building
Sector Relative≥60%
Sector activity percentile 78% — active vs sector
Trade Quality
≥30%Large trade volume 31% — institutional presence
Execution Urgency
≥60%Aggressive execution 42% — patient
Flow Conviction
≥30Conviction +47 (bullish) — moderate
Liquidity
Can I trade efficiently?
3.9
IlliquidLiquid
Evaluates
bid-ask spreads
, volume depth, and open interest for trade execution quality.Risk Checks2/8 checks passed
Tradeable Spread
≤5.0%Spread 8.1% — wide
Adequate OI
≥10,000OI 7,003 — thin
Active Volume
≥500Volume 647/day — adequate
Reasonable Cost
≤$0.50$0.40 to cross — cheap
Strike Coverage
≥5 strikes0 liquid strikes — limited options
Sector Relative≤40%
Sector spread percentile 50% — neutral vs sector
Order Book Depth
≥100 contractsDepth 28.4 contracts (bid:9.4 ask:19.0) — thin
Execution Quality
<1.0%Avg slippage 7.09% — poor
Timing
Is now a good time?
6.8
RiskyFavorable
Considers earnings proximity,
time decay
, and event calendar for optimal entry timing.Risk Checks7/9 checks passed
Term Structure Clarity
|slope| ≥5%Slope +11.0% — backwardation
IV Percentile Clarity
<30 or >70IV percentile 29% — buyer opportunity
Event Detection
≥10pts kinkIV kink 3.5pts — no clear event
Theta/Vega Clarity
<0.5 or >2.0θ/ν ratio 4.07 — favors income trades
Expiration Distribution
≥3 expirations3 liquid expirations — flexible
Event Risk
≥60% (safe)caution advised: Earnings in 7d (elevated risk)
Spread Momentum
<1.2 ratioSpread ratio 1.00x — stable
Flow Momentum
≥25% strength + ≥50% consistencyFlow +47% @ 74% consistency — STRONG directional (bullish)
Smart Money Timing
≥40 composite scoreScore 61 (ITM 20% + inst 31%) — HIGH institutional
Directional Strategy Fit
Option Buyers
Long Calls7.4
bullishIV cheap, bullish flow
Long Puts4.7
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.