CDWCDW Corporation
Options Analysis Report•RETAIL-CATALOG & MAIL-ORDER HOUSES
Market Cap $17.1B|NASDAQ
● 2026-04-17$133.96
BULLISH
Analysis: 2026-04-16 EOD data
1Y -9.7%YTD +0.6%7D +6.7%
Options Vol
326
30D
Implied Move
±13.0%
IV Rank
25%
CDW Options Overview
Mixed signals. Conditions favor premium sellers.
REWARDS
RISK ANALYSIS
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Value
Is IV priced right?
4.9
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 68.2% — elevated vs history
IV/HV Ratio
<1.05xIV/HV 1.56x — IV premium over HV
Sector Relative≤50%
Sector percentile 29% — below sector median
Term Structure
<1.1xFront/Back 1.16x — backwardation
Skew Normal
<1.25xPut/Call IV 1.16x — elevated
Absolute IV
<80%ATM IV 40.8% — normal range
Spread-Adjusted Value
<80%Effective IV 70.7% (ATM 40.8% + spread 14.9% + bias) — fair
Execution Efficiency
<3.0%Total drag 18.92% (spread 14.94% + slippage 3.98%) — high friction
Vega Efficiency
≥5.0Vega efficiency 1.66 (vega 2.476 / spread 14.94%) — spread drag
Sentiment
Bullish or bearish?
6.7
BearishBullish
Analyzes
put/call ratios
, open interest skew
, and flow direction to determine market bias.Risk ChecksVery Bullish - Moderate signal (Conviction: +50%, Raw: +40%)
Flow Direction
|net sentiment| ≥25%Conviction-weighted: +50% (strong bullish) — Raw: +40%
OI Skew Magnitude
≥15%|OI skew| 1.1% — balanced
Volume-OI Alignment
Same sign, |vol skew| ≥10%Vol skew +10.4%, OI skew +1.1% — aligned
Conviction Quality
≥2/3 conditions0-DTE 4%, far-OTM 15%, avg DTE 30
OI Momentum
|change| ≥3%OI change +0.0% (5d) — stable
Smart Money Flow
|weighted flow| ≥20%ITM: +20%, ATM: -22%, OTM: +58% — neutral (ITM/ATM divergent)
Sector Relative≤40% or ≥60%
Sector P/C percentile 66% — bearish vs sector
Activity
Unusual activity?
2.5
QuietActive
Detects volume surges,
block trades
, and unusual options activity that may signal moves.Risk Checks1/9 checks passed
Volume Surge
≥1.5xVolume 0.1x avg — normal
Turnover Rate
≥15%Vol/OI 0.7% — 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 +0.8% (5d) — stable
Sector Relative≥60%
Sector activity percentile 3% — quiet vs sector
Trade Quality
≥30%Large trade volume 0% — mostly retail
Execution Urgency
≥60%Aggressive execution 42% — patient
Flow Conviction
≥30Conviction +50 (bullish) — strong conviction
Liquidity
Can I trade efficiently?
3.4
IlliquidLiquid
Evaluates
bid-ask spreads
, volume depth, and open interest for trade execution quality.Risk Checks2/8 checks passed
Tradeable Spread
≤5.0%Spread 14.9% — wide
Adequate OI
≥10,000OI 44,244 — adequate
Active Volume
≥500Volume 326/day — thin
Reasonable Cost
≤$0.50$0.75 to cross — expensive
Strike Coverage
≥5 strikes0 liquid strikes — limited options
Sector Relative≤40%
Sector spread percentile 31% — tighter than sector
Order Book Depth
≥100 contractsDepth 56.5 contracts (bid:26.9 ask:29.6) — thin
Execution Quality
<1.0%Avg slippage 3.98% — poor
Timing
Is now a good time?
7.5
RiskyFavorable
Considers earnings proximity,
time decay
, and event calendar for optimal entry timing.Risk Checks6/9 checks passed
Term Structure Clarity
|slope| ≥5%Slope +15.6% — backwardation
IV Percentile Clarity
<30 or >70IV percentile 68% — neutral
Event Detection
≥10pts kinkIV kink 6.4pts — no clear event
Theta/Vega Clarity
<0.5 or >2.0θ/ν ratio 4.13 — favors income trades
Expiration Distribution
≥3 expirations3 liquid expirations — flexible
Event Risk
≥60% (safe)safe window: Earnings in 19d (low risk)
Spread Momentum
<1.2 ratioSpread ratio 1.00x — stable
Flow Momentum
≥25% strength + ≥50% consistencyFlow +50% @ 75% consistency — STRONG directional (bullish)
Smart Money Timing
≥40 composite scoreScore 30 (ITM 20% + inst 0%) — retail dominated
Directional Strategy Fit
Option Buyers
Long Calls5.7
bullishIV fair, bullish flow
Long Puts4.5
bearishIV fair, bullish flow
Premium Sellers
Cash-Secured Put5.5
bullishIV fair, bullish flow
Covered Call4.5
bearishIV fair, bullish flow
For educational purposes only. Not investment advice.