BHPBHP Group Limited American Depositary Shares (Each representing two Ordinary Shares)
Options Analysis Report
Market Cap $212.6B|NYSE
● 2026-06-09$83.70
NEUTRAL
Analysis: 2026-06-08 EOD data
1Y +66.8%YTD +35.5%7D -10.1%
Options Vol
681
30D
Implied Move
±11.4%
IV Rank
72%
BHP Options Overview
bullish flow. No clear edge detected.
REWARDS
RISK ANALYSIS
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Value
Is IV priced right?
6.1
ExpensiveCheap
Measures whether options are cheap, fair, or rich relative to historical and peer
IV
levels.Risk Checks7/9 checks passed
IV Rank
≤35%IV Rank 49.9% — elevated vs history
IV/HV Ratio
<1.05xIV/HV 0.87x — IV ≤ HV
Sector Relative≤50%
Sector percentile 23% — below sector median
Term Structure
<1.1xFront/Back 1.03x — flat
Skew Normal
<1.25xPut/Call IV 1.16x — elevated
Absolute IV
<80%ATM IV 38.4% — normal range
Spread-Adjusted Value
<80%Effective IV 56.2% (ATM 38.4% + spread 8.9% + bias) — good value
Execution Efficiency
<3.0%Total drag 15.52% (spread 8.92% + slippage 6.60%) — high friction
Vega Efficiency
≥5.0Vega efficiency 19.74 (vega 17.609 / spread 8.92%) — efficient
Sentiment
Bullish or bearish?
6.3
BearishBullish
Analyzes
put/call ratios
, open interest skew
, and flow direction to determine market bias.Risk ChecksNeutral - Moderate signal (Conviction: -6%, Raw: -0%)
Flow Direction
|net sentiment| ≥25%Conviction-weighted: -6% (neutral) — Raw: -0%
OI Skew Magnitude
≥15%|OI skew| 17.6% — call-heavy
Volume-OI Alignment
Same sign, |vol skew| ≥10%Vol skew +41.6%, OI skew +17.6% — aligned
Conviction Quality
≥2/3 conditions0-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: -69%, ATM: -9%, OTM: +9% — strong bearish (ITM/ATM aligned)
Sector Relative≤40% or ≥60%
Sector P/C percentile 49% — neutral vs sector
Activity
Unusual activity?
1.9
QuietActive
Detects volume surges,
block trades
, and unusual options activity that may signal moves.Risk Checks0/9 checks passed
Volume Surge
≥1.5xVolume 0.1x avg — normal
Turnover Rate
≥15%Vol/OI 0.4% — normal turnover
Strike Concentration
≥60%Top 3 strikes = 50% — dispersed
Multi-Day Persistence
≥2 days1 day(s) elevated — may be one-day event
OI Build
≥5%OI change +2.6% (5d) — building
Sector Relative≥60%
Sector activity percentile 20% — below sector avg
Trade Quality
≥30%Large trade volume 0% — mostly retail
Execution Urgency
≥60%Aggressive execution 28% — patient
Flow Conviction
≥30Conviction -6 (bearish) — mixed
Liquidity
Can I trade efficiently?
4.0
IlliquidLiquid
Evaluates
bid-ask spreads
, volume depth, and open interest for trade execution quality.Risk Checks4/8 checks passed
Tradeable Spread
≤5.0%Spread 8.9% — wide
Adequate OI
≥10,000OI 157,715 — deep
Active Volume
≥500Volume 681/day — adequate
Reasonable Cost
≤$0.50$0.45 to cross — cheap
Strike Coverage
≥5 strikes0 liquid strikes — limited options
Sector Relative≤40%
Sector spread percentile 60% — wider than sector
Order Book Depth
≥100 contractsDepth 219.6 contracts (bid:133.2 ask:86.4) — adequate
Execution Quality
<1.0%Avg slippage 6.60% — poor
Timing
Is now a good time?
5.7
RiskyFavorable
Considers earnings proximity,
time decay
, and event calendar for optimal entry timing.Risk Checks3/9 checks passed
Term Structure Clarity
|slope| ≥5%Slope +3.1% — flat/unclear
IV Percentile Clarity
<30 or >70IV percentile 50% — neutral
Event Detection
≥10pts kinkIV kink 1.3pts — no clear event
Theta/Vega Clarity
<0.5 or >2.0θ/ν ratio 498.84 — favors income trades
Expiration Distribution
≥3 expirations4 liquid expirations — flexible
Event Risk
≥60% (safe)caution advised: CPI in 1d (HIGH)
Spread Momentum
<1.2 ratioSpread ratio 1.00x — stable
Flow Momentum
≥25% strength + ≥50% consistencyFlow -6% @ 53% consistency — unclear
Smart Money Timing
≥40 composite scoreScore 30 (ITM 20% + inst 0%) — retail dominated
Directional Strategy Fit
Option Buyers
Long Calls5.8
bullishIV cheap, bullish flow
Long Puts4.9
bearishIV cheap, bullish flow
Premium Sellers
Cash-Secured Put5.0
bullishIV too cheap, bullish flow
Covered Call4.1
bearishIV too cheap, bullish flow
For educational purposes only. Not investment advice.