AInvestOption Pilot Program
Options/CONY
C

CONYYieldMax COIN Option Income Strategy ETF

Options Analysis Report
Market Cap: --|ARCX
● 2026-08-31$20.23
BEARISH
Analysis: 2026-08-28 EOD data
1Y -70.5%YTD -49.9%7D -2.5%
170
30D
±15.8%
16%

CONY Options Overview

IV is elevated with bearish flow and unusual activity. Conditions favor premium sellers.

REWARDS

RISK ANALYSIS

4.5VALUESENTIMENTACTIVITYLIQUIDITYTIMING

Snowflake Analysis

Favorable conditions for premium sellers

Learn
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CONY Gamma Walls

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Value

Is IV priced right?

4.5
ExpensiveCheap

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

levels.

Risk Checks3/9 checks passed
≤35%

IV Rank 86.9% — elevated vs history

<1.05x

IV/HV 1.19x — IV premium over HV

Sector Relative≤50%

Sector percentile 92% — above sector median

<1.1x

Front/Back 0.83x — contango

<1.25x

Put/Call IV 1.16x — elevated

<80%

ATM IV 65.5% — normal range

<80%

Effective IV 119.0% (ATM 65.5% + spread 26.7% + bias) — expensive

<3.0%

Total drag 32.70% (spread 26.74% + slippage 5.96%) — high friction

≥5.0

Vega efficiency 0.99 (vega 2.643 / spread 26.74%) — spread drag

Sentiment

Bullish or bearish?

3.7
BearishBullish

Analyzes

,
, and flow direction to determine market bias.

Risk ChecksNeutral - Strong signal (Conviction: +0%, Raw: -6%)
|net sentiment| ≥25%

Conviction-weighted: +0% (neutral) — Raw: -6%

≥15%

|OI skew| 48.3% — put-heavy

Same sign, |vol skew| ≥10%

Vol skew -17.6%, OI skew -48.3% — aligned

≥2/3 conditions

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

|change| ≥3%

OI change +0.0% (5d) — stable

|weighted flow| ≥20%

ITM: +41%, ATM: -14%, OTM: -20% — bullish (ITM/ATM divergent)

Sector Relative≤40% or ≥60%

Sector P/C percentile 90% — very bearish vs sector

Activity

Unusual activity?

4.7
QuietActive

Detects volume surges,

, and unusual options activity that may signal moves.

Risk Checks3/8 checks passed
≥1.5x

Volume 1.5x avg — elevated

≥15%

Vol/OI 4.8% — normal turnover

≥2 days

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

≥5%

OI change +9.8% (5d) — building

Sector Relative≥60%

Sector activity percentile 68% — active vs sector

≥30%

Large trade volume 0% — mostly retail

≥60%

Aggressive execution 18% — patient

≥30

Conviction +0 (bullish) — mixed

Liquidity

Can I trade efficiently?

2.6
IlliquidLiquid

Evaluates

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

Risk Checks1/8 checks passed
≤5.0%

Spread 26.7% — wide

≥10,000

OI 3,517 — thin

≥500

Volume 170/day — thin

≤$0.50

$1.34 to cross — expensive

≥5 strikes

0 liquid strikes — limited options

Sector Relative≤40%

Sector spread percentile 94% — much wider than sector

≥100 contracts

Depth 213.5 contracts (bid:125.9 ask:87.6) — adequate

<1.0%

Avg slippage 5.96% — poor

Timing

Is now a good time?

7.2
RiskyFavorable

Considers earnings proximity,

, and event calendar for optimal entry timing.

Risk Checks6/9 checks passed
|slope| ≥5%

Slope -16.5% — contango

<30 or >70

IV percentile 87% — seller opportunity

≥10pts kink

IV kink -6.9pts — no clear event

<0.5 or >2.0

θ/ν ratio 911.38 — favors income trades

≥3 expirations

3 liquid expirations — flexible

≥60% (safe)

safe window: No earnings detected

<1.2 ratio

Spread ratio 1.00x — stable

≥25% strength + ≥50% consistency

Flow +0% @ 50% consistency — unclear

≥40 composite score

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

Directional Strategy Fit

Option Buyers
Long Calls4.3
bullishIV fair, bearish flow
Long Puts6.2
bearishIV fair, bearish flow
Premium Sellers
Cash-Secured Put4.6
bullishIV fair, bearish flow
Covered Call5.5
bearishIV fair, bearish 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.

More on CONY

CONY gamma wallsCONY max painCONY IV rankCONY options flow