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AWIArmstrong World Industries, Inc.

Options Analysis Report•PLASTICS PRODUCTS, NEC
Market Cap $7.4B|NYSE
● 2026-08-31$175.09
VERY BULLISH
Analysis: 2026-08-28 EOD data
1Y -10.1%YTD -11.1%7D -1.8%
18
30D
±7.1%
1%

AWI Options Overview

bullish flow. Conditions favor option buyers.

REWARDS

RISK ANALYSIS

5.8VALUESENTIMENTACTIVITYLIQUIDITYTIMING

Snowflake Analysis

Favorable conditions for option buyers

Learn
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AWI Gamma Walls

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Value

Is IV priced right?

8.5
ExpensiveCheap

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

levels.

Risk Checks6/9 checks passed
≤35%

IV Rank 35.5% — elevated vs history

<1.05x

IV/HV 1.22x — IV premium over HV

Sector Relative≤50%

Sector percentile 14% — below sector median

<1.1x

Front/Back 0.87x — contango

<1.25x

Put/Call IV 1.16x — elevated

<80%

ATM IV 25.6% — normal range

<80%

Effective IV 35.4% (ATM 25.6% + spread 4.9% + bias) — excellent value

<3.0%

Total drag 5.76% (spread 4.91% + slippage 0.85%) — high friction

≥5.0

Vega efficiency 77.90 (vega 38.247 / spread 4.91%) — efficient

Sentiment

Bullish or bearish?

6.5
BearishBullish

Analyzes

,
, and flow direction to determine market bias.

Risk ChecksNeutral - Moderate signal (Conviction: +0%, Raw: +0%)
|net sentiment| ≥25%

Conviction-weighted: +0% (neutral) — Raw: +0%

≥15%

|OI skew| 47.7% — call-heavy

Same sign, |vol skew| ≥10%

Vol skew +100.0%, 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: +0%, ATM: +0%, OTM: +0% — neutral (ITM/ATM divergent)

Sector Relative≤40% or ≥60%

Sector P/C percentile 50% — neutral vs sector

Activity

Unusual activity?

2.6
QuietActive

Detects volume surges,

, and unusual options activity that may signal moves.

Risk Checks0/8 checks passed
≥1.5x

Volume 0.2x avg — normal

≥15%

Vol/OI 2.0% — normal turnover

≥2 days

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

≥5%

OI change -0.1% (5d) — stable

Sector Relative≥60%

Sector activity percentile 56% — neutral vs sector

≥30%

Large trade volume 0% — mostly retail

≥60%

Aggressive execution 50% — patient

≥30

Conviction +0 (neutral) — mixed

Liquidity

Can I trade efficiently?

4.4
IlliquidLiquid

Evaluates

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

Risk Checks3/8 checks passed
≤5.0%

Spread 4.9% — acceptable

≥10,000

OI 898 — thin

≥500

Volume 18/day — thin

≤$0.50

$0.25 to cross — cheap

≥5 strikes

0 liquid strikes — limited options

Sector Relative≤40%

Sector spread percentile 47% — neutral vs sector

≥100 contracts

Depth 2.0 contracts (bid:1.0 ask:1.0) — thin

<1.0%

Avg slippage 0.85% — good

Timing

Is now a good time?

6.8
RiskyFavorable

Considers earnings proximity,

, and event calendar for optimal entry timing.

Risk Checks5/9 checks passed
|slope| ≥5%

Slope -12.8% — contango

<30 or >70

IV percentile 36% — neutral

≥10pts kink

IV kink -1.8pts — no clear event

<0.5 or >2.0

θ/ν ratio 703.07 — 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 +0% @ 50% consistency — unclear

≥40 composite score

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

Directional Strategy Fit

Option Buyers
Long Calls7.6
bullishIV cheap, bullish flow
Long Puts5.9
bearishIV cheap, bullish flow
Premium Sellers
Cash-Secured Put4.6
bullishIV too cheap, bullish flow
Covered Call3.6
bearishIV too cheap, 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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