BIIBBiogen Inc. Common Stock
Options Analysis Report•BIOLOGICAL PRODUCTS, (NO DIAGNOSTIC SUBSTANCES)
Market Cap $26.0B|NASDAQ
● 2026-04-17$177.35
NEUTRAL
Analysis: 2026-04-16 EOD data
1Y +52.2%YTD -0.3%7D +2.5%
Options Vol
557
30D
Implied Move
±11.4%
IV Rank
23%
BIIB Options Overview
Mixed signals. No clear edge detected.
REWARDS
RISK ANALYSIS
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Value
Is IV priced right?
6.3
ExpensiveCheap
Measures whether options are cheap, fair, or rich relative to historical and peer
IV
levels.Risk Checks4/9 checks passed
IV Rank
≤35%IV Rank 55.2% — elevated vs history
IV/HV Ratio
<1.05xIV/HV 1.11x — IV premium over HV
Sector Relative≤50%
Sector percentile 54% — above sector median
Term Structure
<1.1xFront/Back 0.73x — contango
Skew Normal
<1.25xPut/Call IV 1.16x — elevated
Absolute IV
<80%ATM IV 37.5% — normal range
Spread-Adjusted Value
<80%Effective IV 88.3% (ATM 37.5% + spread 25.4% + bias) — expensive
Execution Efficiency
<3.0%Total drag 36.34% (spread 25.41% + slippage 10.93%) — high friction
Vega Efficiency
≥5.0Vega efficiency 21.98 (vega 55.841 / spread 25.41%) — efficient
Sentiment
Bullish or bearish?
5.6
BearishBullish
Analyzes
put/call ratios
, open interest skew
, and flow direction to determine market bias.Risk ChecksBearish - Strong signal (Conviction: -25%, Raw: -24%)
Flow Direction
|net sentiment| ≥25%Conviction-weighted: -25% (bearish) — Raw: -24%
OI Skew Magnitude
≥15%|OI skew| 8.5% — balanced
Volume-OI Alignment
Same sign, |vol skew| ≥10%Vol skew +36.4%, OI skew +8.5% — aligned
Conviction Quality
≥2/3 conditions0-DTE 23%, far-OTM 15%, avg DTE 30
OI Momentum
|change| ≥3%OI change +0.0% (5d) — stable
Smart Money Flow
|weighted flow| ≥20%ITM: -14%, ATM: -22%, OTM: -25% — bearish (ITM/ATM aligned)
Sector Relative≤40% or ≥60%
Sector P/C percentile 32% — bullish vs sector
Activity
Unusual activity?
2.5
QuietActive
Detects volume surges,
block trades
, and unusual options activity that may signal moves.Risk Checks0/9 checks passed
Volume Surge
≥1.5xVolume 0.3x avg — normal
Turnover Rate
≥15%Vol/OI 1.1% — 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 +2.8% (5d) — building
Sector Relative≥60%
Sector activity percentile 17% — quiet vs sector
Trade Quality
≥30%Large trade volume 0% — mostly retail
Execution Urgency
≥60%Aggressive execution 26% — patient
Flow Conviction
≥30Conviction -25 (bearish) — mixed
Liquidity
Can I trade efficiently?
2.8
IlliquidLiquid
Evaluates
bid-ask spreads
, volume depth, and open interest for trade execution quality.Risk Checks2/8 checks passed
Tradeable Spread
≤5.0%Spread 25.4% — wide
Adequate OI
≥10,000OI 51,577 — deep
Active Volume
≥500Volume 557/day — adequate
Reasonable Cost
≤$0.50$1.27 to cross — expensive
Strike Coverage
≥5 strikes0 liquid strikes — limited options
Sector Relative≤40%
Sector spread percentile 56% — neutral vs sector
Order Book Depth
≥100 contractsDepth 53.2 contracts (bid:28.5 ask:24.7) — thin
Execution Quality
<1.0%Avg slippage 10.93% — poor
Timing
Is now a good time?
7.3
RiskyFavorable
Considers earnings proximity,
time decay
, and event calendar for optimal entry timing.Risk Checks6/9 checks passed
Term Structure Clarity
|slope| ≥5%Slope -27.0% — contango
IV Percentile Clarity
<30 or >70IV percentile 55% — neutral
Event Detection
≥10pts kinkIV kink -10.5pts — no clear event
Theta/Vega Clarity
<0.5 or >2.0θ/ν ratio 1130.38 — favors income trades
Expiration Distribution
≥3 expirations5 liquid expirations — flexible
Event Risk
≥60% (safe)safe window: Earnings in 20d (low risk)
Spread Momentum
<1.2 ratioSpread ratio 1.00x — stable
Flow Momentum
≥25% strength + ≥50% consistencyFlow -25% @ 62% consistency — moderate (bearish)
Smart Money Timing
≥40 composite scoreScore 30 (ITM 20% + inst 0%) — retail dominated
Directional Strategy Fit
Option Buyers
Long Calls5.7
bullishIV cheap, mixed flow
Long Puts5.3
bearishIV cheap, mixed flow
Premium Sellers
Cash-Secured Put4.7
bullishIV too cheap, mixed flow
Covered Call4.3
bearishIV too cheap, mixed flow
For educational purposes only. Not investment advice.