APLDApplied Digital Corporation Common Stock
Options Analysis Report•SERVICES-COMPUTER PROCESSING & DATA PREPARATION
Market Cap $12.2B|NASDAQ
● 2026-06-12$42.70
BULLISH
Analysis: 2026-06-11 EOD data
1Y +269.7%YTD +51.9%7D +7.8%
Options Vol
74,661
30D
Implied Move
±29.5%
IV Rank
35%
APLD Options Overview
IV is elevated with bullish flow. Conditions favor premium sellers.
REWARDS
RISK ANALYSIS
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Value
Is IV priced right?
4.1
ExpensiveCheap
Measures whether options are cheap, fair, or rich relative to historical and peer
IV
levels.Risk Checks3/9 checks passed
IV Rank
≤35%IV Rank 94.3% — elevated vs history
IV/HV Ratio
<1.05xIV/HV 0.91x — IV ≤ HV
Sector Relative≤50%
Sector percentile 86% — above sector median
Term Structure
<1.1xFront/Back 0.97x — contango
Skew Normal
<1.25xPut/Call IV 1.16x — elevated
Absolute IV
<80%ATM IV 106.1% — crisis-level IV
Spread-Adjusted Value
<80%Effective IV 124.8% (ATM 106.1% + spread 9.3% + bias) — expensive
Execution Efficiency
<3.0%Total drag 13.85% (spread 9.35% + slippage 4.50%) — high friction
Vega Efficiency
≥5.0Vega efficiency 4.90 (vega 4.578 / spread 9.35%) — spread drag
Sentiment
Bullish or bearish?
7.0
BearishBullish
Analyzes
put/call ratios
, open interest skew
, and flow direction to determine market bias.Risk ChecksBullish - Moderate signal (Conviction: +14%, Raw: +17%)
Flow Direction
|net sentiment| ≥25%Conviction-weighted: +14% (bullish) — Raw: +17%
OI Skew Magnitude
≥15%|OI skew| 33.9% — call-heavy
Volume-OI Alignment
Same sign, |vol skew| ≥10%Vol skew +41.1%, OI skew +33.9% — aligned
Conviction Quality
≥2/3 conditions0-DTE 48%, far-OTM 15%, avg DTE 30
OI Momentum
|change| ≥3%OI change +0.0% (5d) — stable
Smart Money Flow
|weighted flow| ≥20%ITM: +6%, ATM: +9%, OTM: +22% — neutral (ITM/ATM aligned)
Sector Relative≤40% or ≥60%
Sector P/C percentile 50% — neutral vs sector
Activity
Unusual activity?
4.3
QuietActive
Detects volume surges,
block trades
, and unusual options activity that may signal moves.Risk Checks2/9 checks passed
Volume Surge
≥1.5xVolume 0.8x avg — normal
Turnover Rate
≥15%Vol/OI 8.6% — 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 +10.7% (5d) — building
Sector Relative≥60%
Sector activity percentile 84% — very active vs sector
Trade Quality
≥30%Large trade volume 20% — mixed
Execution Urgency
≥60%Aggressive execution 46% — patient
Flow Conviction
≥30Conviction +14 (bullish) — mixed
Liquidity
Can I trade efficiently?
4.9
IlliquidLiquid
Evaluates
bid-ask spreads
, volume depth, and open interest for trade execution quality.Risk Checks4/8 checks passed
Tradeable Spread
≤5.0%Spread 9.3% — wide
Adequate OI
≥10,000OI 864,178 — deep
Active Volume
≥500Volume 74,661/day — active
Reasonable Cost
≤$0.50$0.47 to cross — cheap
Strike Coverage
≥5 strikes0 liquid strikes — limited options
Sector Relative≤40%
Sector spread percentile 92% — much wider than sector
Order Book Depth
≥100 contractsDepth 466.3 contracts (bid:261.0 ask:205.3) — adequate
Execution Quality
<1.0%Avg slippage 4.50% — poor
Timing
Is now a good time?
7.2
RiskyFavorable
Considers earnings proximity,
time decay
, and event calendar for optimal entry timing.Risk Checks6/9 checks passed
Term Structure Clarity
|slope| ≥5%Slope -2.9% — flat/unclear
IV Percentile Clarity
<30 or >70IV percentile 94% — seller opportunity
Event Detection
≥10pts kinkIV kink -2.3pts — no clear event
Theta/Vega Clarity
<0.5 or >2.0θ/ν ratio 56.24 — favors income trades
Expiration Distribution
≥3 expirations4 liquid expirations — flexible
Event Risk
≥60% (safe)acceptable: FOMC in 5d
Spread Momentum
<1.2 ratioSpread ratio 1.00x — stable
Flow Momentum
≥25% strength + ≥50% consistencyFlow +14% @ 57% consistency — unclear
Smart Money Timing
≥40 composite scoreScore 50 (ITM 20% + inst 20%) — moderate institutional
Directional Strategy Fit
Option Buyers
Long Calls5.7
bullishIV fair, bullish flow
Long Puts4.3
bearishIV fair, bullish flow
Premium Sellers
Cash-Secured Put6.2
bullishIV fair, bullish flow
Covered Call4.9
bearishIV fair, bullish flow
For educational purposes only. Not investment advice.