Mixed signals. Conditions favor premium sellers.
Is IV priced right?
Measures whether options are cheap, fair, or rich relative to historical and peer
IV Rank 55.0% — elevated vs history
IV/HV 1.03x — IV ≤ HV
Sector percentile 68% — above sector median
Front/Back 0.99x — contango
Put/Call IV 1.16x — elevated
ATM IV 46.2% — normal range
Effective IV 83.7% (ATM 46.2% + spread 18.8% + bias) — expensive
Total drag 22.09% (spread 18.75% + slippage 3.34%) — high friction
Vega efficiency 7.75 (vega 14.538 / spread 18.75%) — efficient
Bullish or bearish?
Analyzes
Conviction-weighted: -94% (strong bearish) — Raw: -88%
|OI skew| 15.2% — call-heavy
Vol skew +3.9%, OI skew +15.2% — weak (same direction)
0-DTE 4%, far-OTM 15%, avg DTE 30
OI change +0.0% (5d) — stable
ITM: -95%, ATM: -10%, OTM: -86% — strong bearish (ITM/ATM aligned)
Sector P/C percentile 30% — bullish vs sector
Unusual activity?
Detects volume surges,
Volume 0.9x avg — normal
Vol/OI 3.7% — normal turnover
Top 3 strikes = 50% — dispersed
1 day(s) elevated — may be one-day event
OI change +19.0% (5d) — building
Sector activity percentile 53% — neutral vs sector
Large trade volume 83% — heavy institutional
Aggressive execution 9% — patient
Conviction -94 (bearish) — strong conviction
Can I trade efficiently?
Evaluates
Spread 18.8% — wide
OI 206,779 — deep
Volume 7,567/day — active
$0.94 to cross — expensive
0 liquid strikes — limited options
Sector spread percentile 73% — wider than sector
Depth 998.4 contracts (bid:617.3 ask:381.1) — deep
Avg slippage 3.34% — poor
Is now a good time?
Considers earnings proximity,
Slope -0.7% — flat/unclear
IV percentile 55% — neutral
IV kink 1.1pts — no clear event
θ/ν ratio 2236.58 — favors income trades
5 liquid expirations — flexible
safe window: No earnings detected
Spread ratio 1.00x — stable
Flow -94% @ 97% consistency — STRONG directional (bearish)
Score 113 (ITM 20% + inst 83%) — HIGH institutional
For educational purposes only. Not investment advice.