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CLSCelestica, Inc.

Options Analysis Report•PRINTED CIRCUIT BOARDS
Market Cap $40.0B|NYSE
● 2026-08-28$317.38
NEUTRAL
Analysis: 2026-08-27 EOD data
1Y +49.5%YTD +5.0%7D +7.0%
11,036
30D
±17.0%
7%

CLS Options Overview

IV is elevated with unusual activity. Conditions favor premium sellers.

REWARDS

RISK ANALYSIS

5.7VALUESENTIMENTACTIVITYLIQUIDITYTIMING

Snowflake Analysis

Favorable conditions for premium sellers

Learn
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CLS Gamma Walls

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Value

Is IV priced right?

7.1
ExpensiveCheap

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

levels.

Risk Checks5/9 checks passed
≤35%

IV Rank 83.7% — elevated vs history

<1.05x

IV/HV 0.75x — IV ≤ HV

Sector Relative≤50%

Sector percentile 60% — above sector median

<1.1x

Front/Back 0.90x — contango

<1.25x

Put/Call IV 1.16x — elevated

<80%

ATM IV 63.7% — normal range

<80%

Effective IV 86.3% (ATM 63.7% + spread 11.3% + bias) — expensive

<3.0%

Total drag 17.80% (spread 11.30% + slippage 6.50%) — high friction

≥5.0

Vega efficiency 31.25 (vega 35.318 / spread 11.30%) — efficient

Sentiment

Bullish or bearish?

6.0
BearishBullish

Analyzes

,
, and flow direction to determine market bias.

Risk ChecksBearish - Moderate signal (Conviction: -13%, Raw: -8%)
|net sentiment| ≥25%

Conviction-weighted: -13% (bearish) — Raw: -8%

≥15%

|OI skew| 21.7% — call-heavy

Same sign, |vol skew| ≥10%

Vol skew +34.9%, OI skew +21.7% — aligned

≥2/3 conditions

0-DTE 42%, far-OTM 15%, avg DTE 30

|change| ≥3%

OI change +0.0% (5d) — stable

|weighted flow| ≥20%

ITM: -6%, ATM: -4%, OTM: -12% — neutral (ITM/ATM aligned)

Sector Relative≤40% or ≥60%

Sector P/C percentile 52% — neutral vs sector

Activity

Unusual activity?

4.0
QuietActive

Detects volume surges,

, and unusual options activity that may signal moves.

Risk Checks2/8 checks passed
≥1.5x

Volume 0.8x avg — normal

≥15%

Vol/OI 8.8% — normal turnover

≥2 days

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

≥5%

OI change -9.1% (5d) — unwinding

Sector Relative≥60%

Sector activity percentile 79% — active vs sector

≥30%

Large trade volume 30% — institutional presence

≥60%

Aggressive execution 23% — patient

≥30

Conviction -13 (bearish) — mixed

Liquidity

Can I trade efficiently?

3.9
IlliquidLiquid

Evaluates

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

Risk Checks2/8 checks passed
≤5.0%

Spread 11.3% — wide

≥10,000

OI 125,838 — deep

≥500

Volume 11,036/day — active

≤$0.50

$0.57 to cross — expensive

≥5 strikes

0 liquid strikes — limited options

Sector Relative≤40%

Sector spread percentile 76% — wider than sector

≥100 contracts

Depth 44.0 contracts (bid:24.9 ask:19.1) — thin

<1.0%

Avg slippage 6.50% — poor

Timing

Is now a good time?

7.4
RiskyFavorable

Considers earnings proximity,

, and event calendar for optimal entry timing.

Risk Checks7/9 checks passed
|slope| ≥5%

Slope -10.1% — contango

<30 or >70

IV percentile 84% — seller opportunity

≥10pts kink

IV kink -2.1pts — no clear event

<0.5 or >2.0

θ/ν ratio 88.98 — favors income trades

≥3 expirations

5 liquid expirations — flexible

≥60% (safe)

safe window: No earnings detected

<1.2 ratio

Spread ratio 1.00x — stable

≥25% strength + ≥50% consistency

Flow -13% @ 57% consistency — unclear

≥40 composite score

Score 60 (ITM 20% + inst 30%) — HIGH institutional

Directional Strategy Fit

Option Buyers
Long Calls6.3
bullishIV cheap, bullish flow
Long Puts5.6
bearishIV cheap, bullish flow
Premium Sellers
Cash-Secured Put4.9
bullishIV too cheap, bullish flow
Covered Call4.1
bearishIV too cheap, bullish flow

For educational purposes only. Not investment advice.