Options/BBAI

BBAIBigBear.ai Holdings, Inc.

Options Analysis Report•SERVICES-PREPACKAGED SOFTWARE

Market Cap $1.5B|NYSE

● 2026-08-31$3.05

BULLISH

Analysis: 2026-08-28 EOD data

1Y -39.2%YTD -47.8%7D -0.7%

Options Vol

20,968

30D

Implied Move

±17.2%

IV Rank

BBAI Options Overview

IV is elevated with bullish flow and unusual activity. No clear edge detected.

REWARDS

RISK ANALYSIS

Snowflake Analysis

Favorable conditions for premium sellers

Learn

Loading score history...

BBAI Gamma Walls

Loading gamma walls...

Value

Is IV priced right?

5.5

ExpensiveCheap

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

levels.

Risk Checks4/9 checks passed

IV Rank

≤35%

IV Rank 88.0% — elevated vs history

IV/HV Ratio

<1.05x

IV/HV 1.04x — IV ≤ HV

Sector Relative≤50%

Sector percentile 73% — above sector median

Term Structure

<1.1x

Front/Back 0.66x — contango

Skew Normal

<1.25x

Put/Call IV 1.16x — elevated

Absolute IV

<80%

ATM IV 67.6% — normal range

Spread-Adjusted Value

<80%

Effective IV 90.3% (ATM 67.6% + spread 11.4% + bias) — expensive

Execution Efficiency

<3.0%

Total drag 19.29% (spread 11.36% + slippage 7.93%) — high friction

Vega Efficiency

≥5.0

Vega efficiency 1.06 (vega 1.205 / spread 11.36%) — spread drag

Sentiment

Bullish or bearish?

6.2

BearishBullish

Analyzes

put/call ratios

open interest skew

, and flow direction to determine market bias.

Risk ChecksNeutral - Moderate signal (Conviction: -9%, Raw: -11%)

Flow Direction

|net sentiment| ≥25%

Conviction-weighted: -9% (neutral) — Raw: -11%

OI Skew Magnitude

≥15%

|OI skew| 55.5% — call-heavy

Volume-OI Alignment

Same sign, |vol skew| ≥10%

Vol skew +81.2%, OI skew +55.5% — 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: +6%, ATM: -9%, OTM: -13% — neutral (ITM/ATM divergent)

Sector Relative≤40% or ≥60%

Sector P/C percentile 18% — very bullish vs sector

Activity

Unusual activity?

4.3

QuietActive

Detects volume surges,

block trades

, and unusual options activity that may signal moves.

Risk Checks2/8 checks passed

Volume Surge

≥1.5x

Volume 0.8x avg — normal

Turnover Rate

≥15%

Vol/OI 2.8% — normal turnover

Multi-Day Persistence

≥2 days

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

OI Build

≥5%

OI change +4.3% (5d) — building

Sector Relative≥60%

Sector activity percentile 50% — neutral vs sector

Trade Quality

≥30%

Large trade volume 36% — institutional presence

Execution Urgency

≥60%

Aggressive execution 74% — urgent

Flow Conviction

≥30

Conviction -9 (bearish) — mixed

Liquidity

Can I trade efficiently?

4.3

IlliquidLiquid

Evaluates

bid-ask spreads

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

Risk Checks3/8 checks passed

Tradeable Spread

≤5.0%

Spread 11.4% — wide

Adequate OI

≥10,000

OI 746,650 — deep

Active Volume

≥500

Volume 20,968/day — active

Reasonable Cost

≤$0.50

$0.57 to cross — expensive

Strike Coverage

≥5 strikes

0 liquid strikes — limited options

Sector Relative≤40%

Sector spread percentile 84% — much wider than sector

Order Book Depth

≥100 contracts

Depth 637.7 contracts (bid:303.2 ask:334.5) — deep

Execution Quality

<1.0%

Avg slippage 7.93% — poor

Timing

Is now a good time?

7.5

RiskyFavorable

Considers earnings proximity,

time decay

, and event calendar for optimal entry timing.

Risk Checks7/9 checks passed

Term Structure Clarity

|slope| ≥5%

Slope -33.5% — contango

IV Percentile Clarity

<30 or >70

IV percentile 88% — seller opportunity

Event Detection

≥10pts kink

IV kink -12.9pts — no clear event

Theta/Vega Clarity

<0.5 or >2.0

θ/ν ratio 1004.42 — favors income trades

Expiration Distribution

≥3 expirations

4 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 -9% @ 55% consistency — unclear

Smart Money Timing

≥40 composite score

Score 66 (ITM 20% + inst 36%) — HIGH institutional

Directional Strategy Fit

Option Buyers

Long Calls6.6

bullishIV fair, bullish flow

Long Puts5.1

bearishIV fair, bullish flow

Premium Sellers

Cash-Secured Put5.5

bullishIV fair, bullish flow

Covered Call4.7

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.

More on BBAI

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