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ATIATI Inc.

Options Analysis Report•STEEL PIPE & TUBES
Market Cap $28.7B|NYSE
● 2026-08-31$210.76
BULLISH
Analysis: 2026-08-28 EOD data
1Y +169.0%YTD +76.8%7D +0.5%
692
30D
±11.9%
44%

ATI Options Overview

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

REWARDS

RISK ANALYSIS

5.9VALUESENTIMENTACTIVITYLIQUIDITYTIMING

Snowflake Analysis

Balanced conditions with no clear edge

Learn
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ATI Gamma Walls

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Value

Is IV priced right?

5.5
ExpensiveCheap

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

levels.

Risk Checks6/9 checks passed
≤35%

IV Rank 72.9% — elevated vs history

<1.05x

IV/HV 1.04x — IV ≤ HV

Sector Relative≤50%

Sector percentile 73% — above sector median

<1.1x

Front/Back 0.85x — contango

<1.25x

Put/Call IV 1.16x — elevated

<80%

ATM IV 47.2% — normal range

<80%

Effective IV 62.3% (ATM 47.2% + spread 7.5% + bias) — good value

<3.0%

Total drag 11.23% (spread 7.55% + slippage 3.68%) — high friction

≥5.0

Vega efficiency 26.56 (vega 20.053 / spread 7.55%) — efficient

Sentiment

Bullish or bearish?

7.5
BearishBullish

Analyzes

,
, and flow direction to determine market bias.

Risk ChecksVery Bullish - Moderate signal (Conviction: +46%, Raw: +37%)
|net sentiment| ≥25%

Conviction-weighted: +46% (strong bullish) — Raw: +37%

≥15%

|OI skew| 6.1% — balanced

Same sign, |vol skew| ≥10%

Vol skew +22.3%, OI skew +6.1% — 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: -5%, ATM: +51%, OTM: -26% — bullish (ITM/ATM divergent)

Sector Relative≤40% or ≥60%

Sector P/C percentile 45% — neutral vs sector

Activity

Unusual activity?

4.6
QuietActive

Detects volume surges,

, and unusual options activity that may signal moves.

Risk Checks4/8 checks passed
≥1.5x

Volume 0.6x avg — normal

≥15%

Vol/OI 2.9% — normal turnover

≥2 days

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

≥5%

OI change +25.4% (5d) — building

Sector Relative≥60%

Sector activity percentile 68% — active vs sector

≥30%

Large trade volume 43% — institutional presence

≥60%

Aggressive execution 25% — patient

≥30

Conviction +46 (bullish) — moderate

Liquidity

Can I trade efficiently?

3.8
IlliquidLiquid

Evaluates

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

Risk Checks3/8 checks passed
≤5.0%

Spread 7.5% — wide

≥10,000

OI 24,318 — adequate

≥500

Volume 692/day — adequate

≤$0.50

$0.38 to cross — cheap

≥5 strikes

0 liquid strikes — limited options

Sector Relative≤40%

Sector spread percentile 83% — much wider than sector

≥100 contracts

Depth 55.9 contracts (bid:21.9 ask:34.0) — thin

<1.0%

Avg slippage 3.68% — poor

Timing

Is now a good time?

8.0
RiskyFavorable

Considers earnings proximity,

, and event calendar for optimal entry timing.

Risk Checks8/9 checks passed
|slope| ≥5%

Slope -15.0% — contango

<30 or >70

IV percentile 73% — seller opportunity

≥10pts kink

IV kink -6.1pts — no clear event

<0.5 or >2.0

θ/ν ratio 94.68 — favors income trades

≥3 expirations

4 liquid expirations — flexible

≥60% (safe)

safe window: No events detected

<1.2 ratio

Spread ratio 1.00x — stable

≥25% strength + ≥50% consistency

Flow +46% @ 73% consistency — STRONG directional (bullish)

≥40 composite score

Score 73 (ITM 20% + inst 43%) — HIGH institutional

Directional Strategy Fit

Option Buyers
Long Calls6.3
bullishIV fair, bullish flow
Long Puts4.6
bearishIV fair, bullish flow
Premium Sellers
Cash-Secured Put5.9
bullishIV fair, bullish flow
Covered Call4.2
bearishIV fair, bullish 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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