APAAPA Corporation Common Stock
Options Analysis Report•CRUDE PETROLEUM & NATURAL GAS
Market Cap $12.6B|NASDAQ
● 2026-04-17$35.74
NEUTRAL
Analysis: 2026-04-16 EOD data
1Y +130.6%YTD +40.9%7D -7.5%
Options Vol
5,782
30D
Implied Move
±14.5%
IV Rank
52%
APA Options Overview
IV is elevated. Conditions favor premium sellers.
REWARDS
RISK ANALYSIS
Loading score history...
Value
Is IV priced right?
5.1
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 82.8% — elevated vs history
IV/HV Ratio
<1.05xIV/HV 0.84x — IV ≤ HV
Sector Relative≤50%
Sector percentile 86% — above sector median
Term Structure
<1.1xFront/Back 0.98x — contango
Skew Normal
<1.25xPut/Call IV 1.16x — elevated
Absolute IV
<80%ATM IV 49.5% — normal range
Spread-Adjusted Value
<80%Effective IV 72.7% (ATM 49.5% + spread 11.6% + bias) — fair
Execution Efficiency
<3.0%Total drag 18.74% (spread 11.58% + slippage 7.16%) — high friction
Vega Efficiency
≥5.0Vega efficiency 4.46 (vega 5.168 / spread 11.58%) — spread drag
Sentiment
Bullish or bearish?
5.6
BearishBullish
Analyzes
put/call ratios
, open interest skew
, and flow direction to determine market bias.Risk ChecksBearish - Strong signal (Conviction: -22%, Raw: -23%)
Flow Direction
|net sentiment| ≥25%Conviction-weighted: -22% (bearish) — Raw: -23%
OI Skew Magnitude
≥15%|OI skew| 29.3% — call-heavy
Volume-OI Alignment
Same sign, |vol skew| ≥10%Vol skew +27.1%, OI skew +29.3% — aligned
Conviction Quality
≥2/3 conditions0-DTE 20%, far-OTM 15%, avg DTE 30
OI Momentum
|change| ≥3%OI change +0.0% (5d) — stable
Smart Money Flow
|weighted flow| ≥20%ITM: +16%, ATM: +20%, OTM: -35% — bullish (ITM/ATM aligned)
Sector Relative≤40% or ≥60%
Sector P/C percentile 39% — bullish vs sector
Activity
Unusual activity?
3.2
QuietActive
Detects volume surges,
block trades
, and unusual options activity that may signal moves.Risk Checks0/9 checks passed
Volume Surge
≥1.5xVolume 0.4x avg — normal
Turnover Rate
≥15%Vol/OI 2.2% — 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 +3.7% (5d) — building
Sector Relative≥60%
Sector activity percentile 22% — below sector avg
Trade Quality
≥30%Large trade volume 17% — mixed
Execution Urgency
≥60%Aggressive execution 56% — patient
Flow Conviction
≥30Conviction -22 (bearish) — mixed
Liquidity
Can I trade efficiently?
4.0
IlliquidLiquid
Evaluates
bid-ask spreads
, volume depth, and open interest for trade execution quality.Risk Checks3/8 checks passed
Tradeable Spread
≤5.0%Spread 11.6% — wide
Adequate OI
≥10,000OI 262,451 — deep
Active Volume
≥500Volume 5,782/day — active
Reasonable Cost
≤$0.50$0.58 to cross — expensive
Strike Coverage
≥5 strikes1 liquid strikes — limited options
Sector Relative≤40%
Sector spread percentile 87% — much wider than sector
Order Book Depth
≥100 contractsDepth 348.7 contracts (bid:206.5 ask:142.2) — adequate
Execution Quality
<1.0%Avg slippage 7.16% — poor
Timing
Is now a good time?
7.0
RiskyFavorable
Considers earnings proximity,
time decay
, and event calendar for optimal entry timing.Risk Checks6/9 checks passed
Term Structure Clarity
|slope| ≥5%Slope -1.6% — flat/unclear
IV Percentile Clarity
<30 or >70IV percentile 83% — seller opportunity
Event Detection
≥10pts kinkIV kink -0.6pts — no clear event
Theta/Vega Clarity
<0.5 or >2.0θ/ν ratio 174.02 — favors income trades
Expiration Distribution
≥3 expirations5 liquid expirations — flexible
Event Risk
≥60% (safe)safe window: Earnings in 19d (low risk)
Spread Momentum
<1.2 ratioSpread ratio 1.00x — stable
Flow Momentum
≥25% strength + ≥50% consistencyFlow -22% @ 61% consistency — unclear
Smart Money Timing
≥40 composite scoreScore 47 (ITM 20% + inst 17%) — moderate institutional
Directional Strategy Fit
Option Buyers
Long Calls5.4
bullishIV fair, mixed flow
Long Puts5.0
bearishIV fair, mixed flow
Premium Sellers
Cash-Secured Put5.3
bullishIV fair, mixed flow
Covered Call4.8
bearishIV fair, mixed flow
For educational purposes only. Not investment advice.