BKRBaker Hughes Company
Options Analysis Report•OIL & GAS FIELD MACHINERY & EQUIPMENT
Market Cap $59.3B|NASDAQ
● 2026-04-17$59.78
NEUTRAL
Analysis: 2026-04-16 EOD data
1Y +58.1%YTD +26.8%7D -4.9%
Options Vol
2,270
30D
Implied Move
±11.5%
IV Rank
55%
BKR Options Overview
Mixed signals. No clear edge detected.
REWARDS
RISK ANALYSIS
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Value
Is IV priced right?
5.9
ExpensiveCheap
Measures whether options are cheap, fair, or rich relative to historical and peer
IV
levels.Risk Checks6/9 checks passed
IV Rank
≤35%IV Rank 52.7% — elevated vs history
IV/HV Ratio
<1.05xIV/HV 1.09x — IV premium over HV
Sector Relative≤50%
Sector percentile 45% — below sector median
Term Structure
<1.1xFront/Back 1.08x — backwardation
Skew Normal
<1.25xPut/Call IV 1.16x — elevated
Absolute IV
<80%ATM IV 37.2% — normal range
Spread-Adjusted Value
<80%Effective IV 56.3% (ATM 37.2% + spread 9.5% + bias) — good value
Execution Efficiency
<3.0%Total drag 13.82% (spread 9.54% + slippage 4.28%) — high friction
Vega Efficiency
≥5.0Vega efficiency 21.13 (vega 20.156 / spread 9.54%) — efficient
Sentiment
Bullish or bearish?
4.8
BearishBullish
Analyzes
put/call ratios
, open interest skew
, and flow direction to determine market bias.Risk ChecksNeutral - Weak signal (Conviction: -7%, Raw: +6%)
Flow Direction
|net sentiment| ≥25%Conviction-weighted: -7% (neutral) — Raw: +6%
OI Skew Magnitude
≥15%|OI skew| 13.0% — balanced
Volume-OI Alignment
Same sign, |vol skew| ≥10%Vol skew -9.3%, OI skew +13.0% — divergent (opposite)
Conviction Quality
≥2/3 conditions0-DTE 28%, far-OTM 15%, avg DTE 30
OI Momentum
|change| ≥3%OI change +0.0% (5d) — stable
Smart Money Flow
|weighted flow| ≥20%ITM: -38%, ATM: +41%, OTM: -24% — neutral (ITM/ATM divergent)
Sector Relative≤40% or ≥60%
Sector P/C percentile 74% — very bearish vs sector
Activity
Unusual activity?
3.1
QuietActive
Detects volume surges,
block trades
, and unusual options activity that may signal moves.Risk Checks0/9 checks passed
Volume Surge
≥1.5xVolume 0.9x avg — normal
Turnover Rate
≥15%Vol/OI 2.6% — 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 +1.6% (5d) — stable
Sector Relative≥60%
Sector activity percentile 26% — below sector avg
Trade Quality
≥30%Large trade volume 0% — mostly retail
Execution Urgency
≥60%Aggressive execution 59% — patient
Flow Conviction
≥30Conviction -7 (bearish) — mixed
Liquidity
Can I trade efficiently?
4.2
IlliquidLiquid
Evaluates
bid-ask spreads
, volume depth, and open interest for trade execution quality.Risk Checks4/8 checks passed
Tradeable Spread
≤5.0%Spread 9.5% — wide
Adequate OI
≥10,000OI 86,962 — deep
Active Volume
≥500Volume 2,270/day — adequate
Reasonable Cost
≤$0.50$0.48 to cross — cheap
Strike Coverage
≥5 strikes0 liquid strikes — limited options
Sector Relative≤40%
Sector spread percentile 48% — neutral vs sector
Order Book Depth
≥100 contractsDepth 242.60000000000002 contracts (bid:141.4 ask:101.2) — adequate
Execution Quality
<1.0%Avg slippage 4.28% — poor
Timing
Is now a good time?
6.3
RiskyFavorable
Considers earnings proximity,
time decay
, and event calendar for optimal entry timing.Risk Checks4/9 checks passed
Term Structure Clarity
|slope| ≥5%Slope +8.4% — backwardation
IV Percentile Clarity
<30 or >70IV percentile 53% — neutral
Event Detection
≥10pts kinkIV kink 3.3pts — no clear event
Theta/Vega Clarity
<0.5 or >2.0θ/ν ratio 1251.92 — favors income trades
Expiration Distribution
≥3 expirations3 liquid expirations — flexible
Event Risk
≥60% (safe)caution advised: Earnings in 6d (elevated risk)
Spread Momentum
<1.2 ratioSpread ratio 1.00x — stable
Flow Momentum
≥25% strength + ≥50% consistencyFlow -7% @ 53% consistency — unclear
Smart Money Timing
≥40 composite scoreScore 30 (ITM 20% + inst 0%) — retail dominated
Directional Strategy Fit
Option Buyers
Long Calls5.3
bullishIV fair, mixed flow
Long Puts5.5
bearishIV fair, mixed flow
Premium Sellers
Cash-Secured Put4.7
bullishIV fair, mixed flow
Covered Call4.8
bearishIV fair, mixed flow
For educational purposes only. Not investment advice.