Options/BLDR

BLDRBuilders FirstSource, Inc.

Options Analysis Report•RETAIL-LUMBER & OTHER BUILDING MATERIALS DEALERS

Market Cap $7.3B|NYSE

● 2026-08-31$67.72

NEUTRAL

Analysis: 2026-08-28 EOD data

1Y -50.7%YTD -35.3%7D -3.6%

Options Vol

3,591

30D

Implied Move

±8.6%

IV Rank

41%

BLDR Options Overview

unusual activity. No clear edge detected.

REWARDS

RISK ANALYSIS

Snowflake Analysis

Balanced conditions with no clear edge

Learn

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BLDR Gamma Walls

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Value

Is IV priced right?

6.0

ExpensiveCheap

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

levels.

Risk Checks6/9 checks passed

IV Rank

≤35%

IV Rank 50.0% — elevated vs history

IV/HV Ratio

<1.05x

IV/HV 1.00x — IV ≤ HV

Sector Relative≤50%

Sector percentile 50% — below sector median

Term Structure

<1.1x

Front/Back 1.00x — flat

Skew Normal

<1.25x

Put/Call IV 1.00x — normal

Absolute IV

<80%

ATM IV 0.0% — normal range

Spread-Adjusted Value

<80%

Effective IV 14.1% (ATM 0.0% + spread 7.0% + bias) — excellent value

Execution Efficiency

<3.0%

Total drag 10.86% (spread 7.05% + slippage 3.81%) — high friction

Vega Efficiency

≥5.0

Vega efficiency 0.00 (vega 0.000 / spread 7.05%) — spread drag

Sentiment

Bullish or bearish?

4.6

BearishBullish

Analyzes

put/call ratios

open interest skew

, and flow direction to determine market bias.

Risk ChecksVery Bearish - Strong signal (Conviction: -41%, Raw: -41%)

Flow Direction

|net sentiment| ≥25%

Conviction-weighted: -41% (strong bearish) — Raw: -41%

OI Skew Magnitude

≥15%

|OI skew| 24.4% — call-heavy

Volume-OI Alignment

Same sign, |vol skew| ≥10%

Vol skew +8.0%, OI skew +24.4% — weak (same direction)

Conviction Quality

≥2/3 conditions

0-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: -23%, ATM: -70%, OTM: -42% — strong bearish (ITM/ATM aligned)

Sector Relative≤40% or ≥60%

Sector P/C percentile 60% — bearish vs sector

Activity

Unusual activity?

6.5

QuietActive

Detects volume surges,

block trades

, and unusual options activity that may signal moves.

Risk Checks6/8 checks passed

Volume Surge

≥1.5x

Volume 1.8x avg — elevated

Turnover Rate

≥15%

Vol/OI 7.2% — normal turnover

Multi-Day Persistence

≥2 days

2 day(s) elevated — sustained

OI Build

≥5%

OI change +10.6% (5d) — building

Sector Relative≥60%

Sector activity percentile 84% — very active vs sector

Trade Quality

≥30%

Large trade volume 38% — institutional presence

Execution Urgency

≥60%

Aggressive execution 42% — patient

Flow Conviction

≥30

Conviction -41 (bearish) — moderate

Liquidity

Can I trade efficiently?

5.0

IlliquidLiquid

Evaluates

bid-ask spreads

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

Risk Checks5/8 checks passed

Tradeable Spread

≤5.0%

Spread 7.0% — wide

Adequate OI

≥10,000

OI 49,867 — adequate

Active Volume

≥500

Volume 3,591/day — adequate

Reasonable Cost

≤$0.50

$0.35 to cross — cheap

Strike Coverage

≥5 strikes

1 liquid strikes — limited options

Sector Relative≤40%

Sector spread percentile 0% — much tighter than sector

Order Book Depth

≥100 contracts

Depth 146.0 contracts (bid:92.7 ask:53.3) — adequate

Execution Quality

<1.0%

Avg slippage 3.81% — poor

Timing

Is now a good time?

6.3

RiskyFavorable

Considers earnings proximity,

time decay

, and event calendar for optimal entry timing.

Risk Checks5/9 checks passed

Term Structure Clarity

|slope| ≥5%

Slope +0.0% — flat/unclear

IV Percentile Clarity

<30 or >70

IV percentile 50% — neutral

Event Detection

≥10pts kink

IV kink 0.0pts — no clear event

Theta/Vega Clarity

<0.5 or >2.0

θ/ν ratio 1.00 — favors mixed

Expiration Distribution

≥3 expirations

3 liquid expirations — flexible

Event Risk

≥60% (safe)

safe window: No events detected

Spread Momentum

<1.2 ratio

Spread ratio 1.00x — stable

Flow Momentum

≥25% strength + ≥50% consistency

Flow -41% @ 71% consistency — STRONG directional (bearish)

Smart Money Timing

≥40 composite score

Score 68 (ITM 20% + inst 38%) — HIGH institutional

Directional Strategy Fit

Option Buyers

Long Calls5.4

bullishIV cheap, mixed flow

Long Puts5.7

bearishIV cheap, mixed flow

Premium Sellers

Cash-Secured Put4.7

bullishIV too cheap, mixed flow

Covered Call5.0

bearishIV too cheap, mixed 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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