CLSCelestica, Inc.
Options Analysis Report•PRINTED CIRCUIT BOARDS
Market Cap $44.4B|NYSE
● 2026-06-09$386.50
NEUTRAL
Analysis: 2026-06-08 EOD data
1Y +215.1%YTD +27.8%7D -18.2%
Options Vol
11,742
30D
Implied Move
±23.4%
IV Rank
45%
CLS Options Overview
IV is elevated with unusual activity. Conditions favor premium sellers.
REWARDS
RISK ANALYSIS
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Value
Is IV priced right?
4.3
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 89.0% — elevated vs history
IV/HV Ratio
<1.05xIV/HV 0.88x — IV ≤ HV
Sector Relative≤50%
Sector percentile 70% — above sector median
Term Structure
<1.1xFront/Back 1.09x — backwardation
Skew Normal
<1.25xPut/Call IV 1.16x — elevated
Absolute IV
<80%ATM IV 83.1% — crisis-level IV
Spread-Adjusted Value
<80%Effective IV 107.2% (ATM 83.1% + spread 12.1% + bias) — expensive
Execution Efficiency
<3.0%Total drag 18.89% (spread 12.07% + slippage 6.82%) — high friction
Vega Efficiency
≥5.0Vega efficiency 73.81 (vega 89.091 / spread 12.07%) — efficient
Sentiment
Bullish or bearish?
5.3
BearishBullish
Analyzes
put/call ratios
, open interest skew
, and flow direction to determine market bias.Risk ChecksBearish - Strong signal (Conviction: -29%, Raw: -26%)
Flow Direction
|net sentiment| ≥25%Conviction-weighted: -29% (bearish) — Raw: -26%
OI Skew Magnitude
≥15%|OI skew| 12.0% — balanced
Volume-OI Alignment
Same sign, |vol skew| ≥10%Vol skew +24.2%, OI skew +12.0% — aligned
Conviction Quality
≥2/3 conditions0-DTE 0%, 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: -11%, OTM: -30% — neutral (ITM/ATM divergent)
Sector Relative≤40% or ≥60%
Sector P/C percentile 66% — bearish vs sector
Activity
Unusual activity?
5.2
QuietActive
Detects volume surges,
block trades
, and unusual options activity that may signal moves.Risk Checks3/9 checks passed
Volume Surge
≥1.5xVolume 0.9x avg — normal
Turnover Rate
≥15%Vol/OI 9.6% — 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 +8.2% (5d) — building
Sector Relative≥60%
Sector activity percentile 86% — very active vs sector
Trade Quality
≥30%Large trade volume 33% — institutional presence
Execution Urgency
≥60%Aggressive execution 35% — patient
Flow Conviction
≥30Conviction -29 (bearish) — mixed
Liquidity
Can I trade efficiently?
4.0
IlliquidLiquid
Evaluates
bid-ask spreads
, volume depth, and open interest for trade execution quality.Risk Checks2/8 checks passed
Tradeable Spread
≤5.0%Spread 12.1% — wide
Adequate OI
≥10,000OI 122,985 — deep
Active Volume
≥500Volume 11,742/day — active
Reasonable Cost
≤$0.50$0.60 to cross — expensive
Strike Coverage
≥5 strikes2 liquid strikes — limited options
Sector Relative≤40%
Sector spread percentile 83% — much wider than sector
Order Book Depth
≥100 contractsDepth 59.0 contracts (bid:34.3 ask:24.7) — thin
Execution Quality
<1.0%Avg slippage 6.82% — poor
Timing
Is now a good time?
7.5
RiskyFavorable
Considers earnings proximity,
time decay
, and event calendar for optimal entry timing.Risk Checks7/9 checks passed
Term Structure Clarity
|slope| ≥5%Slope +9.0% — backwardation
IV Percentile Clarity
<30 or >70IV percentile 89% — seller opportunity
Event Detection
≥10pts kinkIV kink 7.8pts — no clear event
Theta/Vega Clarity
<0.5 or >2.0θ/ν ratio 298.46 — favors income trades
Expiration Distribution
≥3 expirations5 liquid expirations — flexible
Event Risk
≥60% (safe)caution advised: No earnings detected; CPI in 1d (HIGH)
Spread Momentum
<1.2 ratioSpread ratio 1.00x — stable
Flow Momentum
≥25% strength + ≥50% consistencyFlow -29% @ 64% consistency — moderate (bearish)
Smart Money Timing
≥40 composite scoreScore 63 (ITM 20% + inst 33%) — HIGH institutional
Directional Strategy Fit
Option Buyers
Long Calls5.1
bullishIV fair, mixed flow
Long Puts4.9
bearishIV fair, mixed flow
Premium Sellers
Cash-Secured Put5.5
bullishIV fair, mixed flow
Covered Call5.3
bearishIV fair, mixed flow
For educational purposes only. Not investment advice.