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BKNGBooking Holdings Inc. Common Stock

Options Analysis Report•TRANSPORTATION SERVICES
Market Cap $154.5B|NASDAQ
● 2026-08-31$205.63
NEUTRAL
Analysis: 2026-08-28 EOD data
1Y -6.6%YTD -3.4%7D -3.6%
14,359
30D
±9.3%
23%

BKNG Options Overview

IV is elevated. Conditions favor premium sellers.

REWARDS

RISK ANALYSIS

5.5VALUESENTIMENTACTIVITYLIQUIDITYTIMING

Snowflake Analysis

Favorable conditions for premium sellers

Learn
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BKNG Gamma Walls

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Value

Is IV priced right?

5.8
ExpensiveCheap

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

levels.

Risk Checks6/9 checks passed
≤35%

IV Rank 73.5% — elevated vs history

<1.05x

IV/HV 1.02x — IV ≤ HV

Sector Relative≤50%

Sector percentile 80% — above sector median

<1.1x

Front/Back 0.79x — contango

<1.25x

Put/Call IV 1.16x — elevated

<80%

ATM IV 36.1% — normal range

<80%

Effective IV 68.2% (ATM 36.1% + spread 16.1% + bias) — fair

<3.0%

Total drag 20.76% (spread 16.05% + slippage 4.71%) — high friction

≥5.0

Vega efficiency 30.66 (vega 49.217 / spread 16.05%) — efficient

Sentiment

Bullish or bearish?

6.4
BearishBullish

Analyzes

,
, and flow direction to determine market bias.

Risk ChecksBullish - Moderate signal (Conviction: +27%, Raw: +1%)
|net sentiment| ≥25%

Conviction-weighted: +27% (bullish) — Raw: +1%

≥15%

|OI skew| 7.6% — balanced

Same sign, |vol skew| ≥10%

Vol skew +12.5%, OI skew +7.6% — 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: -18%, ATM: -12%, OTM: +4% — bearish (ITM/ATM aligned)

Sector Relative≤40% or ≥60%

Sector P/C percentile 52% — neutral vs sector

Activity

Unusual activity?

3.7
QuietActive

Detects volume surges,

, and unusual options activity that may signal moves.

Risk Checks1/8 checks passed
≥1.5x

Volume 1.0x avg — normal

≥15%

Vol/OI 2.3% — normal turnover

≥2 days

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

≥5%

OI change +3.0% (5d) — building

Sector Relative≥60%

Sector activity percentile 24% — below sector avg

≥30%

Large trade volume 51% — heavy institutional

≥60%

Aggressive execution 22% — patient

≥30

Conviction +27 (bullish) — mixed

Liquidity

Can I trade efficiently?

3.8
IlliquidLiquid

Evaluates

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

Risk Checks3/8 checks passed
≤5.0%

Spread 16.1% — wide

≥10,000

OI 636,263 — deep

≥500

Volume 14,359/day — active

≤$0.50

$0.80 to cross — expensive

≥5 strikes

0 liquid strikes — limited options

Sector Relative≤40%

Sector spread percentile 82% — much wider than sector

≥100 contracts

Depth 267.7 contracts (bid:108.8 ask:158.9) — adequate

<1.0%

Avg slippage 4.71% — poor

Timing

Is now a good time?

7.7
RiskyFavorable

Considers earnings proximity,

, and event calendar for optimal entry timing.

Risk Checks8/9 checks passed
|slope| ≥5%

Slope -20.6% — contango

<30 or >70

IV percentile 74% — seller opportunity

≥10pts kink

IV kink -5.2pts — no clear event

<0.5 or >2.0

θ/ν ratio 679.79 — favors income trades

≥3 expirations

5 liquid expirations — flexible

≥60% (safe)

safe window: No events detected

<1.2 ratio

Spread ratio 1.00x — stable

≥25% strength + ≥50% consistency

Flow +27% @ 64% consistency — moderate (bullish)

≥40 composite score

Score 81 (ITM 20% + inst 51%) — HIGH institutional

Directional Strategy Fit

Option Buyers
Long Calls6.0
bullishIV fair, bullish flow
Long Puts5.0
bearishIV fair, bullish flow
Premium Sellers
Cash-Secured Put5.4
bullishIV fair, bullish flow
Covered Call4.4
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.

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