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ARMWRoundhill ARM WeeklyPay ETF

Options Analysis Report
AUM $23M|BATS
● 2026-08-31$38.68
NEUTRAL
Analysis: 2026-08-28 EOD data
1Y -24.0%YTD +35.5%7D +0.7%
9
30D
±19.6%
4%

ARMW Options Overview

IV is elevated. Conditions favor premium sellers.

REWARDS

RISK ANALYSIS

4.6VALUESENTIMENTACTIVITYLIQUIDITYTIMING

Snowflake Analysis

Favorable conditions for premium sellers

Learn
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ARMW Gamma Walls

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Value

Is IV priced right?

5.1
ExpensiveCheap

Measures whether options are cheap, fair, or rich relative to historical and peer

levels.

Risk Checks4/9 checks passed
≤35%

IV Rank 90.4% — elevated vs history

<1.05x

IV/HV 0.75x — IV ≤ HV

Sector Relative≤50%

Sector percentile 94% — above sector median

<1.1x

Front/Back 0.87x — contango

<1.25x

Put/Call IV 1.16x — elevated

<80%

ATM IV 73.0% — normal range

<80%

Effective IV 317.0% (ATM 73.0% + spread 122.0% + bias) — expensive

<3.0%

Total drag 164.12% (spread 122.01% + slippage 42.11%) — high friction

≥5.0

Vega efficiency 0.29 (vega 3.591 / spread 122.01%) — spread drag

Sentiment

Bullish or bearish?

4.1
BearishBullish

Analyzes

,
, and flow direction to determine market bias.

Risk ChecksVery Bearish - Weak signal (Conviction: -48%, Raw: -50%)
|net sentiment| ≥25%

Conviction-weighted: -48% (strong bearish) — Raw: -50%

≥15%

|OI skew| 6.4% — balanced

Same sign, |vol skew| ≥10%

Vol skew +55.6%, OI skew -6.4% — divergent (opposite)

≥2/3 conditions

0-DTE 0%, far-OTM 15%, avg DTE 30

|change| ≥3%

OI change +0.0% (5d) — stable

|weighted flow| ≥20%

ITM: +0%, ATM: +0%, OTM: -50% — neutral (ITM/ATM divergent)

Sector Relative≤40% or ≥60%

Sector P/C percentile 13% — very bullish vs sector

Activity

Unusual activity?

4.3
QuietActive

Detects volume surges,

, and unusual options activity that may signal moves.

Risk Checks2/8 checks passed
≥1.5x

Volume 0.8x avg — normal

≥15%

Vol/OI 3.0% — normal turnover

≥2 days

1 day(s) elevated — may be one-day event

≥5%

OI change +31.4% (5d) — building

Sector Relative≥60%

Sector activity percentile 57% — neutral vs sector

≥30%

Large trade volume 0% — mostly retail

≥60%

Aggressive execution 50% — patient

≥30

Conviction -48 (bearish) — moderate

Liquidity

Can I trade efficiently?

2.1
IlliquidLiquid

Evaluates

, volume depth, and open interest for trade execution quality.

Risk Checks1/8 checks passed
≤5.0%

Spread 122.0% — wide

≥10,000

OI 297 — thin

≥500

Volume 9/day — thin

≤$0.50

$6.10 to cross — expensive

≥5 strikes

0 liquid strikes — limited options

Sector Relative≤40%

Sector spread percentile 95% — much wider than sector

≥100 contracts

Depth 488.3 contracts (bid:279.5 ask:208.8) — adequate

<1.0%

Avg slippage 42.11% — poor

Timing

Is now a good time?

7.5
RiskyFavorable

Considers earnings proximity,

, and event calendar for optimal entry timing.

Risk Checks7/9 checks passed
|slope| ≥5%

Slope -12.6% — contango

<30 or >70

IV percentile 90% — seller opportunity

≥10pts kink

IV kink -6.9pts — no clear event

<0.5 or >2.0

θ/ν ratio 89.78 — favors income trades

≥3 expirations

3 liquid expirations — flexible

≥60% (safe)

safe window: No earnings detected

<1.2 ratio

Spread ratio 1.00x — stable

≥25% strength + ≥50% consistency

Flow -48% @ 67% consistency — STRONG directional (bearish)

≥40 composite score

Score 30 (ITM 20% + inst 0%) — retail dominated

Directional Strategy Fit

Option Buyers
Long Calls4.7
bullishIV fair, mixed flow
Long Puts5.3
bearishIV fair, mixed flow
Premium Sellers
Cash-Secured Put4.5
bullishIV fair, mixed flow
Covered Call5.1
bearishIV fair, mixed flow

For educational purposes only. Not investment advice.

The Options Desk tracks the move options price into every US earnings report the week of Aug 31, next to how much each stock has actually moved on its past prints — plus the SPY, QQQ and IWM expected ranges and the gamma walls that box them in.

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