BKNGBooking Holdings Inc. Common Stock
Options Analysis Report•TRANSPORTATION SERVICES
Market Cap $152.0B|NASDAQ
● 2026-04-17$192.01
NEUTRAL
Analysis: 2026-04-16 EOD data
1Y +8.2%YTD -9.8%7D +10.7%
Options Vol
13,071
30D
Implied Move
±12.4%
IV Rank
55%
BKNG Options Overview
bullish flow. No clear edge detected.
REWARDS
RISK ANALYSIS
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Value
Is IV priced right?
5.6
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 62.4% — elevated vs history
IV/HV Ratio
<1.05xIV/HV 1.06x — IV premium over HV
Sector Relative≤50%
Sector percentile 51% — above sector median
Term Structure
<1.1xFront/Back 0.94x — contango
Skew Normal
<1.25xPut/Call IV 1.16x — elevated
Absolute IV
<80%ATM IV 39.5% — normal range
Spread-Adjusted Value
<80%Effective IV 88.0% (ATM 39.5% + spread 24.2% + bias) — expensive
Execution Efficiency
<3.0%Total drag 35.11% (spread 24.23% + slippage 10.88%) — high friction
Vega Efficiency
≥5.0Vega efficiency 34.04 (vega 82.482 / spread 24.23%) — efficient
Sentiment
Bullish or bearish?
6.5
BearishBullish
Analyzes
put/call ratios
, open interest skew
, and flow direction to determine market bias.Risk ChecksNeutral - Strong signal (Conviction: -0%, Raw: -2%)
Flow Direction
|net sentiment| ≥25%Conviction-weighted: -0% (neutral) — Raw: -2%
OI Skew Magnitude
≥15%|OI skew| 17.0% — call-heavy
Volume-OI Alignment
Same sign, |vol skew| ≥10%Vol skew +43.5%, OI skew +17.0% — aligned
Conviction Quality
≥2/3 conditions0-DTE 18%, far-OTM 15%, avg DTE 30
OI Momentum
|change| ≥3%OI change +0.0% (5d) — stable
Smart Money Flow
|weighted flow| ≥20%ITM: +34%, ATM: -2%, OTM: -5% — bullish (ITM/ATM divergent)
Sector Relative≤40% or ≥60%
Sector P/C percentile 22% — very bullish vs sector
Activity
Unusual activity?
2.9
QuietActive
Detects volume surges,
block trades
, and unusual options activity that may signal moves.Risk Checks0/9 checks passed
Volume Surge
≥1.5xVolume 1.1x avg — normal
Turnover Rate
≥15%Vol/OI 1.5% — 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 +3.0% (5d) — building
Sector Relative≥60%
Sector activity percentile 12% — quiet vs sector
Trade Quality
≥30%Large trade volume 14% — mostly retail
Execution Urgency
≥60%Aggressive execution 30% — patient
Flow Conviction
≥30Conviction -0 (bearish) — mixed
Liquidity
Can I trade efficiently?
4.1
IlliquidLiquid
Evaluates
bid-ask spreads
, volume depth, and open interest for trade execution quality.Risk Checks3/8 checks passed
Tradeable Spread
≤5.0%Spread 24.2% — wide
Adequate OI
≥10,000OI 856,603 — deep
Active Volume
≥500Volume 13,071/day — active
Reasonable Cost
≤$0.50$1.21 to cross — expensive
Strike Coverage
≥5 strikes1 liquid strikes — limited options
Sector Relative≤40%
Sector spread percentile 52% — neutral vs sector
Order Book Depth
≥100 contractsDepth 200.10000000000002 contracts (bid:92.4 ask:107.7) — adequate
Execution Quality
<1.0%Avg slippage 10.88% — poor
Timing
Is now a good time?
6.8
RiskyFavorable
Considers earnings proximity,
time decay
, and event calendar for optimal entry timing.Risk Checks6/9 checks passed
Term Structure Clarity
|slope| ≥5%Slope -6.4% — contango
IV Percentile Clarity
<30 or >70IV percentile 62% — neutral
Event Detection
≥10pts kinkIV kink -3.4pts — no clear event
Theta/Vega Clarity
<0.5 or >2.0θ/ν ratio 2104.12 — favors income trades
Expiration Distribution
≥3 expirations5 liquid expirations — flexible
Event Risk
≥60% (safe)acceptable: Earnings in 11d
Spread Momentum
<1.2 ratioSpread ratio 1.00x — stable
Flow Momentum
≥25% strength + ≥50% consistencyFlow -0% @ 50% consistency — unclear
Smart Money Timing
≥40 composite scoreScore 44 (ITM 20% + inst 14%) — moderate institutional
Directional Strategy Fit
Option Buyers
Long Calls5.9
bullishIV fair, bullish flow
Long Puts4.8
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.