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ASHAshland Inc.

Options Analysis Report•WHOLESALE-CHEMICALS & ALLIED PRODUCTS
Market Cap $3.4B|NYSE
● 2026-08-31$74.37
NEUTRAL
Analysis: 2026-08-28 EOD data
1Y +35.5%YTD +24.3%7D +0.9%
24
30D
±10.7%
3%

ASH Options Overview

Mixed signals. Conditions favor premium sellers.

REWARDS

RISK ANALYSIS

4.3VALUESENTIMENTACTIVITYLIQUIDITYTIMING

Snowflake Analysis

Balanced conditions with no clear edge

Learn
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ASH Gamma Walls

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Value

Is IV priced right?

5.6
ExpensiveCheap

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

levels.

Risk Checks3/9 checks passed
≤35%

IV Rank 55.2% — elevated vs history

<1.05x

IV/HV 1.41x — IV premium over HV

Sector Relative≤50%

Sector percentile 29% — below sector median

<1.1x

Front/Back 1.13x — backwardation

<1.25x

Put/Call IV 1.16x — elevated

<80%

ATM IV 34.9% — normal range

<80%

Effective IV 129.2% (ATM 34.9% + spread 47.2% + bias) — expensive

<3.0%

Total drag 67.25% (spread 47.17% + slippage 20.08%) — high friction

≥5.0

Vega efficiency 1.51 (vega 7.116 / spread 47.17%) — spread drag

Sentiment

Bullish or bearish?

4.1
BearishBullish

Analyzes

,
, and flow direction to determine market bias.

Risk ChecksVery Bearish - Strong signal (Conviction: -68%, Raw: -54%)
|net sentiment| ≥25%

Conviction-weighted: -68% (strong bearish) — Raw: -54%

≥15%

|OI skew| 47.7% — call-heavy

Same sign, |vol skew| ≥10%

Vol skew +66.7%, OI skew +47.7% — aligned

≥2/3 conditions

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

|change| ≥3%

OI change +0.0% (5d) — stable

|weighted flow| ≥20%

ITM: +33%, ATM: -100%, OTM: +50% — bearish (ITM/ATM divergent)

Sector Relative≤40% or ≥60%

Sector P/C percentile 29% — very bullish vs sector

Activity

Unusual activity?

2.7
QuietActive

Detects volume surges,

, and unusual options activity that may signal moves.

Risk Checks1/8 checks passed
≥1.5x

Volume 0.1x avg — normal

≥15%

Vol/OI 0.3% — normal turnover

≥2 days

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

≥5%

OI change +0.6% (5d) — stable

Sector Relative≥60%

Sector activity percentile 10% — quiet vs sector

≥30%

Large trade volume 0% — mostly retail

≥60%

Aggressive execution 55% — patient

≥30

Conviction -68 (bearish) — strong conviction

Liquidity

Can I trade efficiently?

2.3
IlliquidLiquid

Evaluates

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

Risk Checks0/8 checks passed
≤5.0%

Spread 47.2% — wide

≥10,000

OI 7,000 — thin

≥500

Volume 24/day — thin

≤$0.50

$2.36 to cross — expensive

≥5 strikes

0 liquid strikes — limited options

Sector Relative≤40%

Sector spread percentile 61% — wider than sector

≥100 contracts

Depth 31.799999999999997 contracts (bid:19.9 ask:11.9) — thin

<1.0%

Avg slippage 20.08% — poor

Timing

Is now a good time?

6.7
RiskyFavorable

Considers earnings proximity,

, and event calendar for optimal entry timing.

Risk Checks6/9 checks passed
|slope| ≥5%

Slope +13.4% — backwardation

<30 or >70

IV percentile 55% — neutral

≥10pts kink

IV kink 2.4pts — no clear event

<0.5 or >2.0

θ/ν ratio 97.61 — favors income trades

≥3 expirations

3 liquid expirations — flexible

≥60% (safe)

safe window: No events detected

<1.2 ratio

Spread ratio 1.00x — stable

≥25% strength + ≥50% consistency

Flow -68% @ 83% 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 Puts5.4
bearishIV fair, mixed flow
Premium Sellers
Cash-Secured Put4.2
bullishIV fair, mixed flow
Covered Call4.8
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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