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CASYCasey's General Stores Inc

Options Analysis Report•RETAIL-AUTO DEALERS & GASOLINE STATIONS
Market Cap $28.0B|NASDAQ
● 2026-08-31$755.47
NEUTRAL
Analysis: 2026-08-28 EOD data
1Y +51.7%YTD +35.8%7D -11.6%
735
30D
±13.4%
62%

CASY Options Overview

unusual activity. Conditions favor premium sellers.

REWARDS

RISK ANALYSIS

5.1VALUESENTIMENTACTIVITYLIQUIDITYTIMING

Snowflake Analysis

Favorable conditions for premium sellers

Learn
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CASY Gamma Walls

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Value

Is IV priced right?

5.0
ExpensiveCheap

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

levels.

Risk Checks4/9 checks passed
≤35%

IV Rank 63.4% — elevated vs history

<1.05x

IV/HV 1.16x — IV premium over HV

Sector Relative≤50%

Sector percentile 51% — above sector median

<1.1x

Front/Back 1.28x — backwardation

<1.25x

Put/Call IV 1.16x — elevated

<80%

ATM IV 39.9% — normal range

<80%

Effective IV 64.7% (ATM 39.9% + spread 12.4% + bias) — good value

<3.0%

Total drag 15.70% (spread 12.42% + slippage 3.28%) — high friction

≥5.0

Vega efficiency 58.24 (vega 72.330 / spread 12.42%) — efficient

Sentiment

Bullish or bearish?

5.0
BearishBullish

Analyzes

,
, and flow direction to determine market bias.

Risk ChecksNeutral - Weak signal (Conviction: +9%, Raw: +7%)
|net sentiment| ≥25%

Conviction-weighted: +9% (neutral) — Raw: +7%

≥15%

|OI skew| 0.3% — balanced

Same sign, |vol skew| ≥10%

Vol skew -4.5%, OI skew -0.3% — weak (same direction)

≥2/3 conditions

0-DTE 0%, far-OTM 15%, avg DTE 30

|change| ≥3%

OI change +0.0% (5d) — stable

|weighted flow| ≥20%

ITM: +32%, ATM: -11%, OTM: +10% — bullish (ITM/ATM divergent)

Sector Relative≤40% or ≥60%

Sector P/C percentile 74% — very bearish vs sector

Activity

Unusual activity?

5.3
QuietActive

Detects volume surges,

, and unusual options activity that may signal moves.

Risk Checks2/8 checks passed
≥1.5x

Volume 1.5x avg — normal

≥15%

Vol/OI 12.0% — normal turnover

≥2 days

1 day(s) elevated — may be one-day event

≥5%

OI change +31.2% (5d) — building

Sector Relative≥60%

Sector activity percentile 93% — very active vs sector

≥30%

Large trade volume 0% — mostly retail

≥60%

Aggressive execution 19% — patient

≥30

Conviction +9 (bullish) — mixed

Liquidity

Can I trade efficiently?

2.8
IlliquidLiquid

Evaluates

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

Risk Checks1/8 checks passed
≤5.0%

Spread 12.4% — wide

≥10,000

OI 6,125 — thin

≥500

Volume 735/day — adequate

≤$0.50

$0.62 to cross — expensive

≥5 strikes

0 liquid strikes — limited options

Sector Relative≤40%

Sector spread percentile 73% — wider than sector

≥100 contracts

Depth 13.600000000000001 contracts (bid:7.7 ask:5.9) — thin

<1.0%

Avg slippage 3.28% — poor

Timing

Is now a good time?

7.3
RiskyFavorable

Considers earnings proximity,

, and event calendar for optimal entry timing.

Risk Checks5/9 checks passed
|slope| ≥5%

Slope +28.1% — backwardation

<30 or >70

IV percentile 63% — neutral

≥10pts kink

IV kink 9.3pts — no clear event

<0.5 or >2.0

θ/ν ratio 84.70 — favors income trades

≥3 expirations

4 liquid expirations — flexible

≥60% (safe)

acceptable: Earnings in 8d

<1.2 ratio

Spread ratio 1.00x — stable

≥25% strength + ≥50% consistency

Flow +9% @ 54% consistency — unclear

≥40 composite score

Score 30 (ITM 20% + inst 0%) — retail dominated

Directional Strategy Fit

Option Buyers
Long Calls5.0
bullishIV fair, mixed flow
Long Puts5.0
bearishIV fair, mixed flow
Premium Sellers
Cash-Secured Put4.9
bullishIV fair, mixed flow
Covered Call4.9
bearishIV fair, 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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