BSXBoston Scientific Corp.
Options Analysis Report•SURGICAL & MEDICAL INSTRUMENTS & APPARATUS
Market Cap $95.5B|NYSE
● 2026-04-17$64.23
NEUTRAL
Analysis: 2026-04-16 EOD data
1Y -31.4%YTD -32.2%7D +3.9%
Options Vol
11,578
30D
Implied Move
±13.5%
IV Rank
73%
BSX Options Overview
IV is elevated. Conditions favor premium sellers.
REWARDS
RISK ANALYSIS
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Value
Is IV priced right?
2.9
ExpensiveCheap
Measures whether options are cheap, fair, or rich relative to historical and peer
IV
levels.Risk Checks3/9 checks passed
IV Rank
≤35%IV Rank 80.3% — elevated vs history
IV/HV Ratio
<1.05xIV/HV 1.20x — IV premium over HV
Sector Relative≤50%
Sector percentile 79% — above sector median
Term Structure
<1.1xFront/Back 1.63x — backwardation
Skew Normal
<1.25xPut/Call IV 1.16x — elevated
Absolute IV
<80%ATM IV 47.9% — normal range
Spread-Adjusted Value
<80%Effective IV 75.0% (ATM 47.9% + spread 13.5% + bias) — fair
Execution Efficiency
<3.0%Total drag 19.25% (spread 13.53% + slippage 5.72%) — high friction
Vega Efficiency
≥5.0Vega efficiency 2.77 (vega 3.741 / spread 13.53%) — spread drag
Sentiment
Bullish or bearish?
3.7
BearishBullish
Analyzes
put/call ratios
, open interest skew
, and flow direction to determine market bias.Risk ChecksBearish - Strong signal (Conviction: -27%, Raw: -12%)
Flow Direction
|net sentiment| ≥25%Conviction-weighted: -27% (bearish) — Raw: -12%
OI Skew Magnitude
≥15%|OI skew| 46.7% — call-heavy
Volume-OI Alignment
Same sign, |vol skew| ≥10%Vol skew -17.0%, OI skew +46.7% — 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: -35%, ATM: -12%, OTM: +5% — strong bearish (ITM/ATM aligned)
Sector Relative≤40% or ≥60%
Sector P/C percentile 73% — very bearish vs sector
Activity
Unusual activity?
4.1
QuietActive
Detects volume surges,
block trades
, and unusual options activity that may signal moves.Risk Checks2/9 checks passed
Volume Surge
≥1.5xVolume 0.5x avg — normal
Turnover Rate
≥15%Vol/OI 2.8% — 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 +5.0% (5d) — building
Sector Relative≥60%
Sector activity percentile 49% — neutral vs sector
Trade Quality
≥30%Large trade volume 44% — institutional presence
Execution Urgency
≥60%Aggressive execution 33% — patient
Flow Conviction
≥30Conviction -27 (bearish) — mixed
Liquidity
Can I trade efficiently?
3.9
IlliquidLiquid
Evaluates
bid-ask spreads
, volume depth, and open interest for trade execution quality.Risk Checks3/8 checks passed
Tradeable Spread
≤5.0%Spread 13.5% — wide
Adequate OI
≥10,000OI 407,097 — deep
Active Volume
≥500Volume 11,578/day — active
Reasonable Cost
≤$0.50$0.68 to cross — expensive
Strike Coverage
≥5 strikes1 liquid strikes — limited options
Sector Relative≤40%
Sector spread percentile 80% — wider than sector
Order Book Depth
≥100 contractsDepth 402.2 contracts (bid:231.6 ask:170.6) — adequate
Execution Quality
<1.0%Avg slippage 5.72% — poor
Timing
Is now a good time?
7.7
RiskyFavorable
Considers earnings proximity,
time decay
, and event calendar for optimal entry timing.Risk Checks8/9 checks passed
Term Structure Clarity
|slope| ≥5%Slope +62.8% — backwardation
IV Percentile Clarity
<30 or >70IV percentile 80% — seller opportunity
Event Detection
≥10pts kinkIV kink 21.6pts — event priced
Theta/Vega Clarity
<0.5 or >2.0θ/ν ratio 25.93 — favors income trades
Expiration Distribution
≥3 expirations5 liquid expirations — flexible
Event Risk
≥60% (safe)caution advised: Earnings in 5d (elevated risk)
Spread Momentum
<1.2 ratioSpread ratio 1.00x — stable
Flow Momentum
≥25% strength + ≥50% consistencyFlow -27% @ 64% consistency — moderate (bearish)
Smart Money Timing
≥40 composite scoreScore 74 (ITM 20% + inst 44%) — HIGH institutional
Directional Strategy Fit
Option Buyers
Long Calls4.1
bullishIV expensive, bearish flow
Long Puts5.0
bearishIV expensive, bearish flow
Premium Sellers
Cash-Secured Put5.4
bullishIV rich premium, bearish flow
Covered Call6.3
bearishIV rich premium, bearish flow
For educational purposes only. Not investment advice.