Options/ARQT

ARQTArcutis Biotherapeutics, Inc. Common Stock

Options Analysis Report•PHARMACEUTICAL PREPARATIONS

Market Cap $3.0B|NASDAQ

● 2026-08-28$23.78

BULLISH

Analysis: 2026-08-27 EOD data

1Y +55.2%YTD -18.0%7D -4.0%

Options Vol

30D

Implied Move

±22.1%

IV Rank

20%

ARQT Options Overview

IV is elevated with bullish flow. Conditions favor premium sellers.

REWARDS

RISK ANALYSIS

Snowflake Analysis

Favorable conditions for premium sellers

Learn

Loading score history...

ARQT Gamma Walls

Loading gamma walls...

Value

Is IV priced right?

3.5

ExpensiveCheap

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

levels.

Risk Checks2/9 checks passed

IV Rank

≤35%

IV Rank 83.2% — elevated vs history

IV/HV Ratio

<1.05x

IV/HV 1.60x — IV premium over HV

Sector Relative≤50%

Sector percentile 61% — above sector median

Term Structure

<1.1x

Front/Back 1.43x — backwardation

Skew Normal

<1.25x

Put/Call IV 1.16x — elevated

Absolute IV

<80%

ATM IV 63.2% — normal range

Spread-Adjusted Value

<80%

Effective IV 153.9% (ATM 63.2% + spread 45.4% + bias) — expensive

Execution Efficiency

<3.0%

Total drag 55.46% (spread 45.37% + slippage 10.09%) — high friction

Vega Efficiency

≥5.0

Vega efficiency 0.53 (vega 2.418 / spread 45.37%) — spread drag

Sentiment

Bullish or bearish?

4.8

BearishBullish

Analyzes

put/call ratios

open interest skew

, and flow direction to determine market bias.

Risk ChecksVery Bearish - Strong signal (Conviction: -47%, Raw: -37%)

Flow Direction

|net sentiment| ≥25%

Conviction-weighted: -47% (strong bearish) — Raw: -37%

OI Skew Magnitude

≥15%

|OI skew| 85.4% — call-heavy

Volume-OI Alignment

Same sign, |vol skew| ≥10%

Vol skew +40.0%, OI skew +85.4% — aligned

Conviction Quality

≥2/3 conditions

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

OI Momentum

|change| ≥3%

OI change +0.0% (5d) — stable

Smart Money Flow

|weighted flow| ≥20%

ITM: -25%, ATM: -100%, OTM: +0% — strong bearish (ITM/ATM aligned)

Sector Relative≤40% or ≥60%

Sector P/C percentile 44% — bullish vs sector

Activity

Unusual activity?

2.4

QuietActive

Detects volume surges,

block trades

, and unusual options activity that may signal moves.

Risk Checks1/8 checks passed

Volume Surge

≥1.5x

Volume 0.3x avg — normal

Turnover Rate

≥15%

Vol/OI 0.4% — normal turnover

Multi-Day Persistence

≥2 days

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

OI Build

≥5%

OI change -10.1% (5d) — unwinding

Sector Relative≥60%

Sector activity percentile 20% — below sector avg

Trade Quality

≥30%

Large trade volume 0% — mostly retail

Execution Urgency

≥60%

Aggressive execution 40% — patient

Flow Conviction

≥30

Conviction -47 (bearish) — moderate

Liquidity

Can I trade efficiently?

2.4

IlliquidLiquid

Evaluates

bid-ask spreads

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

Risk Checks0/8 checks passed

Tradeable Spread

≤5.0%

Spread 45.4% — wide

Adequate OI

≥10,000

OI 9,140 — thin

Active Volume

≥500

Volume 40/day — thin

Reasonable Cost

≤$0.50

$2.27 to cross — expensive

Strike Coverage

≥5 strikes

0 liquid strikes — limited options

Sector Relative≤40%

Sector spread percentile 83% — much wider than sector

Order Book Depth

≥100 contracts

Depth 37.8 contracts (bid:22.6 ask:15.2) — thin

Execution Quality

<1.0%

Avg slippage 10.09% — poor

Timing

Is now a good time?

8.3

RiskyFavorable

Considers earnings proximity,

time decay

, and event calendar for optimal entry timing.

Risk Checks8/9 checks passed

Term Structure Clarity

|slope| ≥5%

Slope +42.9% — backwardation

IV Percentile Clarity

<30 or >70

IV percentile 83% — seller opportunity

Event Detection

≥10pts kink

IV kink 11.5pts — event priced

Theta/Vega Clarity

<0.5 or >2.0

θ/ν ratio 40.24 — favors income trades

Expiration Distribution

≥3 expirations

3 liquid expirations — flexible

Event Risk

≥60% (safe)

safe window: No events detected

Spread Momentum

<1.2 ratio

Spread ratio 1.00x — stable

Flow Momentum

≥25% strength + ≥50% consistency

Flow -47% @ 74% consistency — STRONG directional (bearish)

Smart Money Timing

≥40 composite score

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

Directional Strategy Fit

Option Buyers

Long Calls4.5

bullishIV expensive, mixed flow

Long Puts4.6

bearishIV expensive, mixed flow

Premium Sellers

Cash-Secured Put5.6

bullishIV rich premium, mixed flow

Covered Call5.5

bearishIV rich premium, 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.

More on ARQT

ARQT gamma walls ARQT max pain ARQT IV rank ARQT options flow