bearish flow. Conditions favor option buyers.
Is IV priced right?
Measures whether options are cheap, fair, or rich relative to historical and peer
IV Rank 46.6% — elevated vs history
IV/HV 0.93x — IV ≤ HV
Sector percentile 60% — above sector median
Front/Back 0.98x — contango
Put/Call IV 1.16x — elevated
ATM IV 41.0% — normal range
Effective IV 61.2% (ATM 41.0% + spread 10.1% + bias) — good value
Total drag 15.40% (spread 10.08% + slippage 5.32%) — high friction
Vega efficiency 37.78 (vega 38.086 / spread 10.08%) — efficient
Bullish or bearish?
Analyzes
Conviction-weighted: -32% (strong bearish) — Raw: -33%
|OI skew| 15.5% — put-heavy
Vol skew -49.8%, OI skew -15.5% — aligned
0-DTE 25%, far-OTM 15%, avg DTE 30
OI change +0.0% (5d) — stable
ITM: -28%, ATM: -9%, OTM: -37% — bearish (ITM/ATM aligned)
Sector P/C percentile 93% — very bearish vs sector
Unusual activity?
Detects volume surges,
Volume 1.0x avg — normal
Vol/OI 11.6% — normal turnover
Top 3 strikes = 50% — dispersed
1 day(s) elevated — may be one-day event
OI change +11.2% (5d) — building
Sector activity percentile 84% — very active vs sector
Large trade volume 70% — heavy institutional
Aggressive execution 36% — patient
Conviction -32 (bearish) — moderate
Can I trade efficiently?
Evaluates
Spread 10.1% — wide
OI 649,443 — deep
Volume 75,243/day — active
$0.50 to cross — expensive
0 liquid strikes — limited options
Sector spread percentile 67% — wider than sector
Depth 1,144.2 contracts (bid:559.0 ask:585.2) — deep
Avg slippage 5.32% — poor
Is now a good time?
Considers earnings proximity,
Slope -2.4% — flat/unclear
IV percentile 47% — neutral
IV kink -0.5pts — no clear event
θ/ν ratio 2739.97 — favors income trades
5 liquid expirations — flexible
safe window: No earnings detected
Spread ratio 1.00x — stable
Flow -32% @ 66% consistency — moderate (bearish)
Score 100 (ITM 20% + inst 70%) — HIGH institutional
For educational purposes only. Not investment advice.