BLDRBuilders FirstSource, Inc.
Options Analysis Report•RETAIL-LUMBER & OTHER BUILDING MATERIALS DEALERS
Market Cap $9.5B|NYSE
● 2026-04-17$88.50
NEUTRAL
Analysis: 2026-04-16 EOD data
1Y -22.4%YTD -15.4%7D +3.8%
Options Vol
1,484
30D
Implied Move
±19.5%
IV Rank
85%
BLDR Options Overview
IV is elevated with bearish flow. Conditions favor premium sellers.
REWARDS
RISK ANALYSIS
Loading score history...
Value
Is IV priced right?
3.2
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 93.6% — elevated vs history
IV/HV Ratio
<1.05xIV/HV 1.28x — IV premium over HV
Sector Relative≤50%
Sector percentile 96% — above sector median
Term Structure
<1.1xFront/Back 1.15x — backwardation
Skew Normal
<1.25xPut/Call IV 1.16x — elevated
Absolute IV
<80%ATM IV 61.1% — normal range
Spread-Adjusted Value
<80%Effective IV 75.8% (ATM 61.1% + spread 7.4% + bias) — fair
Execution Efficiency
<3.0%Total drag 10.79% (spread 7.37% + slippage 3.42%) — high friction
Vega Efficiency
≥5.0Vega efficiency 18.77 (vega 13.833 / spread 7.37%) — efficient
Sentiment
Bullish or bearish?
3.2
BearishBullish
Analyzes
put/call ratios
, open interest skew
, and flow direction to determine market bias.Risk ChecksVery Bearish - Strong signal (Conviction: -34%, Raw: -28%)
Flow Direction
|net sentiment| ≥25%Conviction-weighted: -34% (strong bearish) — Raw: -28%
OI Skew Magnitude
≥15%|OI skew| 36.4% — call-heavy
Volume-OI Alignment
Same sign, |vol skew| ≥10%Vol skew -33.8%, OI skew +36.4% — divergent (opposite)
Conviction Quality
≥2/3 conditions0-DTE 21%, far-OTM 15%, avg DTE 30
OI Momentum
|change| ≥3%OI change +0.0% (5d) — stable
Smart Money Flow
|weighted flow| ≥20%ITM: -44%, ATM: -12%, OTM: -31% — strong bearish (ITM/ATM aligned)
Sector Relative≤40% or ≥60%
Sector P/C percentile 85% — very bearish vs sector
Activity
Unusual activity?
3.0
QuietActive
Detects volume surges,
block trades
, and unusual options activity that may signal moves.Risk Checks1/9 checks passed
Volume Surge
≥1.5xVolume 0.6x avg — normal
Turnover Rate
≥15%Vol/OI 2.7% — 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 +1.1% (5d) — stable
Sector Relative≥60%
Sector activity percentile 40% — below sector avg
Trade Quality
≥30%Large trade volume 7% — mostly retail
Execution Urgency
≥60%Aggressive execution 38% — patient
Flow Conviction
≥30Conviction -34 (bearish) — moderate
Liquidity
Can I trade efficiently?
4.0
IlliquidLiquid
Evaluates
bid-ask spreads
, volume depth, and open interest for trade execution quality.Risk Checks3/8 checks passed
Tradeable Spread
≤5.0%Spread 7.4% — wide
Adequate OI
≥10,000OI 55,386 — deep
Active Volume
≥500Volume 1,484/day — adequate
Reasonable Cost
≤$0.50$0.37 to cross — cheap
Strike Coverage
≥5 strikes0 liquid strikes — limited options
Sector Relative≤40%
Sector spread percentile 96% — much wider than sector
Order Book Depth
≥100 contractsDepth 81.9 contracts (bid:38.0 ask:43.9) — thin
Execution Quality
<1.0%Avg slippage 3.42% — poor
Timing
Is now a good time?
8.4
RiskyFavorable
Considers earnings proximity,
time decay
, and event calendar for optimal entry timing.Risk Checks7/9 checks passed
Term Structure Clarity
|slope| ≥5%Slope +15.1% — backwardation
IV Percentile Clarity
<30 or >70IV percentile 94% — seller opportunity
Event Detection
≥10pts kinkIV kink 8.0pts — no clear event
Theta/Vega Clarity
<0.5 or >2.0θ/ν ratio 193.74 — favors income trades
Expiration Distribution
≥3 expirations3 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 -34% @ 67% consistency — moderate (bearish)
Smart Money Timing
≥40 composite scoreScore 37 (ITM 20% + inst 7%) — retail dominated
Directional Strategy Fit
Option Buyers
Long Calls4.1
bullishIV expensive, bearish flow
Long Puts5.4
bearishIV expensive, bearish flow
Premium Sellers
Cash-Secured Put5.2
bullishIV rich premium, bearish flow
Covered Call6.5
bearishIV rich premium, bearish flow
For educational purposes only. Not investment advice.