CAGConagra Brands, Inc.
Options Analysis Report•FOOD AND KINDRED PRODUCTS
Market Cap $7.1B|NYSE
● 2026-04-17$14.86
BULLISH
Analysis: 2026-04-16 EOD data
1Y -41.5%YTD -14.1%7D -2.1%
Options Vol
14,041
30D
Implied Move
±10.4%
IV Rank
42%
CAG Options Overview
bullish flow with unusual activity. Conditions favor option buyers.
REWARDS
RISK ANALYSIS
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Value
Is IV priced right?
5.2
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 43.7% — elevated vs history
IV/HV Ratio
<1.05xIV/HV 1.10x — IV premium over HV
Sector Relative≤50%
Sector percentile 70% — above sector median
Term Structure
<1.1xFront/Back 0.90x — contango
Skew Normal
<1.25xPut/Call IV 1.16x — elevated
Absolute IV
<80%ATM IV 34.1% — normal range
Spread-Adjusted Value
<80%Effective IV 61.1% (ATM 34.1% + spread 13.5% + bias) — good value
Execution Efficiency
<3.0%Total drag 22.85% (spread 13.50% + slippage 9.35%) — high friction
Vega Efficiency
≥5.0Vega efficiency 0.61 (vega 0.824 / spread 13.50%) — spread drag
Sentiment
Bullish or bearish?
6.4
BearishBullish
Analyzes
put/call ratios
, open interest skew
, and flow direction to determine market bias.Risk ChecksNeutral - Moderate signal (Conviction: -4%, Raw: +3%)
Flow Direction
|net sentiment| ≥25%Conviction-weighted: -4% (neutral) — Raw: +3%
OI Skew Magnitude
≥15%|OI skew| 22.7% — call-heavy
Volume-OI Alignment
Same sign, |vol skew| ≥10%Vol skew +39.5%, OI skew +22.7% — aligned
Conviction Quality
≥2/3 conditions0-DTE 20%, far-OTM 15%, avg DTE 30
OI Momentum
|change| ≥3%OI change +0.0% (5d) — stable
Smart Money Flow
|weighted flow| ≥20%ITM: -22%, ATM: +33%, OTM: -11% — neutral (ITM/ATM divergent)
Sector Relative≤40% or ≥60%
Sector P/C percentile 34% — bullish vs sector
Activity
Unusual activity?
4.5
QuietActive
Detects volume surges,
block trades
, and unusual options activity that may signal moves.Risk Checks2/9 checks passed
Volume Surge
≥1.5xVolume 1.1x avg — normal
Turnover Rate
≥15%Vol/OI 7.2% — 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 +16.9% (5d) — building
Sector Relative≥60%
Sector activity percentile 80% — very active vs sector
Trade Quality
≥30%Large trade volume 22% — mixed
Execution Urgency
≥60%Aggressive execution 40% — patient
Flow Conviction
≥30Conviction -4 (bearish) — mixed
Liquidity
Can I trade efficiently?
3.7
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 193,557 — deep
Active Volume
≥500Volume 14,041/day — active
Reasonable Cost
≤$0.50$0.68 to cross — expensive
Strike Coverage
≥5 strikes0 liquid strikes — limited options
Sector Relative≤40%
Sector spread percentile 71% — wider than sector
Order Book Depth
≥100 contractsDepth 1,535.6 contracts (bid:924.1 ask:611.5) — deep
Execution Quality
<1.0%Avg slippage 9.35% — poor
Timing
Is now a good time?
6.7
RiskyFavorable
Considers earnings proximity,
time decay
, and event calendar for optimal entry timing.Risk Checks6/9 checks passed
Term Structure Clarity
|slope| ≥5%Slope -9.8% — contango
IV Percentile Clarity
<30 or >70IV percentile 44% — neutral
Event Detection
≥10pts kinkIV kink -3.9pts — no clear event
Theta/Vega Clarity
<0.5 or >2.0θ/ν ratio 46.80 — favors income trades
Expiration Distribution
≥3 expirations5 liquid expirations — flexible
Event Risk
≥60% (safe)safe window: No events detected
Spread Momentum
<1.2 ratioSpread ratio 1.00x — stable
Flow Momentum
≥25% strength + ≥50% consistencyFlow -4% @ 52% consistency — unclear
Smart Money Timing
≥40 composite scoreScore 52 (ITM 20% + inst 22%) — moderate institutional
Directional Strategy Fit
Option Buyers
Long Calls5.6
bullishIV fair, bullish flow
Long Puts4.7
bearishIV fair, bullish flow
Premium Sellers
Cash-Secured Put5.4
bullishIV fair, bullish flow
Covered Call4.4
bearishIV fair, bullish flow
For educational purposes only. Not investment advice.