BRZEBraze, Inc. Class A Common Stock
BRZE Options Overview
IV is elevated with bullish flow and unusual activity. Conditions favor premium sellers.
REWARDS
RISK ANALYSIS
BRZE Gamma Walls
Value
Is IV priced right?
Measures whether options are cheap, fair, or rich relative to historical and peer
IV Rank 89.9% — elevated vs history
IV/HV 1.17x — IV premium over HV
Sector percentile 80% — above sector median
Front/Back 1.27x — backwardation
Put/Call IV 1.16x — elevated
ATM IV 71.6% — normal range
Effective IV 101.8% (ATM 71.6% + spread 15.1% + bias) — expensive
Total drag 22.39% (spread 15.12% + slippage 7.27%) — high friction
Vega efficiency 5.51 (vega 8.338 / spread 15.12%) — acceptable
Sentiment
Bullish or bearish?
Analyzes
Conviction-weighted: -84% (strong bearish) — Raw: -58%
|OI skew| 64.3% — call-heavy
Vol skew +94.5%, OI skew +64.3% — aligned
0-DTE 0%, far-OTM 15%, avg DTE 30
OI change +0.0% (5d) — stable
ITM: -1%, ATM: -97%, OTM: +60% — strong bearish (ITM/ATM aligned)
Sector P/C percentile 6% — very bullish vs sector
Activity
Unusual activity?
Detects volume surges,
Volume 2.9x avg — hot
Vol/OI 13.8% — normal turnover
1 day(s) elevated — may be one-day event
OI change +7.6% (5d) — building
Sector activity percentile 91% — very active vs sector
Large trade volume 83% — heavy institutional
Aggressive execution 35% — patient
Conviction -84 (bearish) — strong conviction
Liquidity
Can I trade efficiently?
Evaluates
Spread 15.1% — wide
OI 25,105 — adequate
Volume 3,467/day — adequate
$0.76 to cross — expensive
0 liquid strikes — limited options
Sector spread percentile 88% — much wider than sector
Depth 410.8 contracts (bid:219.3 ask:191.5) — adequate
Avg slippage 7.27% — poor
Timing
Is now a good time?
Considers earnings proximity,
Slope +27.4% — backwardation
IV percentile 90% — seller opportunity
IV kink 19.6pts — event priced
θ/ν ratio 378.98 — favors income trades
4 liquid expirations — flexible
acceptable: Earnings in 8d
Spread ratio 1.00x — stable
Flow -84% @ 92% consistency — STRONG directional (bearish)
Score 113 (ITM 20% + inst 83%) — HIGH institutional
Directional Strategy Fit
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.