CATCaterpillar Inc.
Options Analysis Report•CONSTRUCTION MACHINERY & EQUIP
Market Cap $369.7B|NYSE
● 2026-04-17$794.65
NEUTRAL
Analysis: 2026-04-16 EOD data
1Y +179.1%YTD +32.8%7D +0.5%
Options Vol
22,185
30D
Implied Move
±13.1%
IV Rank
65%
CAT Options Overview
Mixed signals. Conditions favor premium sellers.
REWARDS
RISK ANALYSIS
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Value
Is IV priced right?
4.8
ExpensiveCheap
Measures whether options are cheap, fair, or rich relative to historical and peer
IV
levels.Risk Checks6/9 checks passed
IV Rank
≤35%IV Rank 67.3% — elevated vs history
IV/HV Ratio
<1.05xIV/HV 0.96x — IV ≤ HV
Sector Relative≤50%
Sector percentile 74% — above sector median
Term Structure
<1.1xFront/Back 0.94x — contango
Skew Normal
<1.25xPut/Call IV 1.16x — elevated
Absolute IV
<80%ATM IV 40.5% — normal range
Spread-Adjusted Value
<80%Effective IV 60.0% (ATM 40.5% + spread 9.8% + bias) — good value
Execution Efficiency
<3.0%Total drag 21.83% (spread 9.77% + slippage 12.06%) — high friction
Vega Efficiency
≥5.0Vega efficiency 45.99 (vega 44.928 / spread 9.77%) — efficient
Sentiment
Bullish or bearish?
4.7
BearishBullish
Analyzes
put/call ratios
, open interest skew
, and flow direction to determine market bias.Risk ChecksNeutral - Weak signal (Conviction: +6%, Raw: +10%)
Flow Direction
|net sentiment| ≥25%Conviction-weighted: +6% (neutral) — Raw: +10%
OI Skew Magnitude
≥15%|OI skew| 5.8% — balanced
Volume-OI Alignment
Same sign, |vol skew| ≥10%Vol skew -8.3%, OI skew -5.8% — weak (same direction)
Conviction Quality
≥2/3 conditions0-DTE 44%, far-OTM 15%, avg DTE 30
OI Momentum
|change| ≥3%OI change +0.0% (5d) — stable
Smart Money Flow
|weighted flow| ≥20%ITM: +3%, ATM: +11%, OTM: +10% — neutral (ITM/ATM aligned)
Sector Relative≤40% or ≥60%
Sector P/C percentile 72% — very bearish vs sector
Activity
Unusual activity?
4.3
QuietActive
Detects volume surges,
block trades
, and unusual options activity that may signal moves.Risk Checks2/9 checks passed
Volume Surge
≥1.5xVolume 1.0x avg — normal
Turnover Rate
≥15%Vol/OI 9.0% — 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 +14.0% (5d) — building
Sector Relative≥60%
Sector activity percentile 81% — very active vs sector
Trade Quality
≥30%Large trade volume 5% — mostly retail
Execution Urgency
≥60%Aggressive execution 19% — patient
Flow Conviction
≥30Conviction +6 (bullish) — mixed
Liquidity
Can I trade efficiently?
4.3
IlliquidLiquid
Evaluates
bid-ask spreads
, volume depth, and open interest for trade execution quality.Risk Checks3/8 checks passed
Tradeable Spread
≤5.0%Spread 9.8% — wide
Adequate OI
≥10,000OI 245,376 — deep
Active Volume
≥500Volume 22,185/day — active
Reasonable Cost
≤$0.50$0.49 to cross — cheap
Strike Coverage
≥5 strikes0 liquid strikes — limited options
Sector Relative≤40%
Sector spread percentile 75% — wider than sector
Order Book Depth
≥100 contractsDepth 80.0 contracts (bid:30.0 ask:50.0) — thin
Execution Quality
<1.0%Avg slippage 12.06% — poor
Timing
Is now a good time?
6.6
RiskyFavorable
Considers earnings proximity,
time decay
, and event calendar for optimal entry timing.Risk Checks5/9 checks passed
Term Structure Clarity
|slope| ≥5%Slope -6.2% — contango
IV Percentile Clarity
<30 or >70IV percentile 67% — neutral
Event Detection
≥10pts kinkIV kink -4.2pts — no clear event
Theta/Vega Clarity
<0.5 or >2.0θ/ν ratio 45.81 — favors income trades
Expiration Distribution
≥3 expirations5 liquid expirations — flexible
Event Risk
≥60% (safe)acceptable: Earnings in 12d
Spread Momentum
<1.2 ratioSpread ratio 1.00x — stable
Flow Momentum
≥25% strength + ≥50% consistencyFlow +6% @ 53% consistency — unclear
Smart Money Timing
≥40 composite scoreScore 35 (ITM 20% + inst 5%) — retail dominated
Directional Strategy Fit
Option Buyers
Long Calls5.0
bullishIV fair, mixed flow
Long Puts5.2
bearishIV fair, mixed flow
Premium Sellers
Cash-Secured Put5.1
bullishIV fair, mixed flow
Covered Call5.3
bearishIV fair, mixed flow
For educational purposes only. Not investment advice.