CORCencora, Inc.
Options Analysis Report•WHOLESALE-DRUGS, PROPRIETARIES & DRUGGISTS' SUNDRIES
Market Cap $63.7B|NYSE
● 2026-04-17$327.56
VERY BULLISH
Analysis: 2026-04-16 EOD data
1Y +16.5%YTD -3.3%7D +2.1%
Options Vol
868
30D
Implied Move
±8.9%
IV Rank
63%
COR Options Overview
IV is low with bullish flow. Conditions favor option buyers.
REWARDS
RISK ANALYSIS
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Value
Is IV priced right?
5.7
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 22.9% — cheap vs history
IV/HV Ratio
<1.05xIV/HV 1.32x — IV premium over HV
Sector Relative≤50%
Sector percentile 12% — below sector median
Term Structure
<1.1xFront/Back 1.08x — backwardation
Skew Normal
<1.25xPut/Call IV 1.16x — elevated
Absolute IV
<80%ATM IV 29.7% — normal range
Spread-Adjusted Value
<80%Effective IV 73.6% (ATM 29.7% + spread 22.0% + bias) — fair
Execution Efficiency
<3.0%Total drag 28.31% (spread 21.96% + slippage 6.35%) — high friction
Vega Efficiency
≥5.0Vega efficiency 2.79 (vega 6.134 / spread 21.96%) — spread drag
Sentiment
Bullish or bearish?
9.1
BearishBullish
Analyzes
put/call ratios
, open interest skew
, and flow direction to determine market bias.Risk ChecksVery Bullish - Strong signal (Conviction: +73%, Raw: +72%)
Flow Direction
|net sentiment| ≥25%Conviction-weighted: +73% (strong bullish) — Raw: +72%
OI Skew Magnitude
≥15%|OI skew| 28.2% — call-heavy
Volume-OI Alignment
Same sign, |vol skew| ≥10%Vol skew +85.3%, OI skew +28.2% — aligned
Conviction Quality
≥2/3 conditions0-DTE 48%, far-OTM 15%, avg DTE 30
OI Momentum
|change| ≥3%OI change +0.0% (5d) — stable
Smart Money Flow
|weighted flow| ≥20%ITM: -100%, ATM: +8%, OTM: +80% — strong bearish (ITM/ATM divergent)
Sector Relative≤40% or ≥60%
Sector P/C percentile 7% — very bullish vs sector
Activity
Unusual activity?
5.3
QuietActive
Detects volume surges,
block trades
, and unusual options activity that may signal moves.Risk Checks3/9 checks passed
Volume Surge
≥1.5xVolume 1.9x avg — elevated
Turnover Rate
≥15%Vol/OI 5.2% — 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 +4.1% (5d) — building
Sector Relative≥60%
Sector activity percentile 76% — active vs sector
Trade Quality
≥30%Large trade volume 0% — mostly retail
Execution Urgency
≥60%Aggressive execution 24% — patient
Flow Conviction
≥30Conviction +73 (bullish) — strong conviction
Liquidity
Can I trade efficiently?
3.5
IlliquidLiquid
Evaluates
bid-ask spreads
, volume depth, and open interest for trade execution quality.Risk Checks3/8 checks passed
Tradeable Spread
≤5.0%Spread 22.0% — wide
Adequate OI
≥10,000OI 16,679 — adequate
Active Volume
≥500Volume 868/day — adequate
Reasonable Cost
≤$0.50$1.10 to cross — expensive
Strike Coverage
≥5 strikes1 liquid strikes — limited options
Sector Relative≤40%
Sector spread percentile 17% — much tighter than sector
Order Book Depth
≥100 contractsDepth 42.8 contracts (bid:20.5 ask:22.3) — thin
Execution Quality
<1.0%Avg slippage 6.35% — poor
Timing
Is now a good time?
7.6
RiskyFavorable
Considers earnings proximity,
time decay
, and event calendar for optimal entry timing.Risk Checks7/9 checks passed
Term Structure Clarity
|slope| ≥5%Slope +8.0% — backwardation
IV Percentile Clarity
<30 or >70IV percentile 23% — buyer opportunity
Event Detection
≥10pts kinkIV kink 2.3pts — no clear event
Theta/Vega Clarity
<0.5 or >2.0θ/ν ratio 5.79 — 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 +73% @ 86% consistency — STRONG directional (bullish)
Smart Money Timing
≥40 composite scoreScore 30 (ITM 20% + inst 0%) — retail dominated
Directional Strategy Fit
Option Buyers
Long Calls7.4
bullishIV fair, bullish flow
Long Puts4.0
bearishIV fair, bullish flow
Premium Sellers
Cash-Secured Put6.3
bullishIV fair, bullish flow
Covered Call3.5
bearishIV fair, bullish flow
For educational purposes only. Not investment advice.