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Options/AZN
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AZNAstraZeneca PLC

Options Analysis Report
Market Cap $252.3B|NYSE
● 2026-08-28$162.70
NEUTRAL
Analysis: 2026-08-27 EOD data
1Y +1.8%YTD -11.2%7D -2.0%
4,201
30D
±8.5%
10%

AZN Options Overview

unusual activity. No clear edge detected.

REWARDS

RISK ANALYSIS

5.5VALUESENTIMENTACTIVITYLIQUIDITYTIMING

Snowflake Analysis

Balanced conditions with no clear edge

Learn
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AZN Gamma Walls

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Value

Is IV priced right?

8.4
ExpensiveCheap

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

levels.

Risk Checks7/9 checks passed
≤35%

IV Rank 41.3% — elevated vs history

<1.05x

IV/HV 0.82x — IV ≤ HV

Sector Relative≤50%

Sector percentile 12% — below sector median

<1.1x

Front/Back 1.03x — flat

<1.25x

Put/Call IV 1.16x — elevated

<80%

ATM IV 28.9% — normal range

<80%

Effective IV 41.8% (ATM 28.9% + spread 6.5% + bias) — excellent value

<3.0%

Total drag 8.84% (spread 6.46% + slippage 2.38%) — high friction

≥5.0

Vega efficiency 62.45 (vega 40.345 / spread 6.46%) — efficient

Sentiment

Bullish or bearish?

3.1
BearishBullish

Analyzes

,
, and flow direction to determine market bias.

Risk ChecksVery Bearish - Strong signal (Conviction: -37%, Raw: -23%)
|net sentiment| ≥25%

Conviction-weighted: -37% (strong bearish) — Raw: -23%

≥15%

|OI skew| 33.9% — call-heavy

Same sign, |vol skew| ≥10%

Vol skew -21.0%, OI skew +33.9% — 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: +70%, ATM: -2%, OTM: -30% — strong bullish (ITM/ATM divergent)

Sector Relative≤40% or ≥60%

Sector P/C percentile 85% — very bearish vs sector

Activity

Unusual activity?

4.6
QuietActive

Detects volume surges,

, and unusual options activity that may signal moves.

Risk Checks2/8 checks passed
≥1.5x

Volume 0.7x avg — normal

≥15%

Vol/OI 6.0% — normal turnover

≥2 days

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

≥5%

OI change -13.1% (5d) — unwinding

Sector Relative≥60%

Sector activity percentile 81% — very active vs sector

≥30%

Large trade volume 30% — mixed

≥60%

Aggressive execution 53% — patient

≥30

Conviction -37 (bearish) — moderate

Liquidity

Can I trade efficiently?

4.5
IlliquidLiquid

Evaluates

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

Risk Checks3/8 checks passed
≤5.0%

Spread 6.5% — wide

≥10,000

OI 69,843 — deep

≥500

Volume 4,201/day — adequate

≤$0.50

$0.32 to cross — cheap

≥5 strikes

0 liquid strikes — limited options

Sector Relative≤40%

Sector spread percentile 62% — wider than sector

≥100 contracts

Depth 76.0 contracts (bid:30.2 ask:45.8) — thin

<1.0%

Avg slippage 2.38% — poor

Timing

Is now a good time?

7.0
RiskyFavorable

Considers earnings proximity,

, and event calendar for optimal entry timing.

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

Slope +2.8% — flat/unclear

<30 or >70

IV percentile 41% — neutral

≥10pts kink

IV kink 0.2pts — no clear event

<0.5 or >2.0

θ/ν ratio 797.33 — 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 -37% @ 68% consistency — moderate (bearish)

≥40 composite score

Score 60 (ITM 20% + inst 30%) — moderate institutional

Directional Strategy Fit

Option Buyers
Long Calls5.8
bullishIV cheap, bearish flow
Long Puts7.1
bearishIV cheap, bearish flow
Premium Sellers
Cash-Secured Put3.5
bullishIV too cheap, bearish flow
Covered Call4.9
bearishIV too cheap, bearish 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.