CPAYCorpay, Inc.
Options Analysis Report•SERVICES-BUSINESS SERVICES, NEC
Market Cap $22.1B|NYSE
● 2026-04-17$334.64
BULLISH
Analysis: 2026-04-16 EOD data
1Y +12.2%YTD +11.3%7D +10.5%
Options Vol
24
30D
Implied Move
±11.3%
IV Rank
22%
CPAY Options Overview
IV is elevated. Conditions favor premium sellers.
REWARDS
RISK ANALYSIS
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Value
Is IV priced right?
5.0
ExpensiveCheap
Measures whether options are cheap, fair, or rich relative to historical and peer
IV
levels.Risk Checks5/9 checks passed
IV Rank
≤35%IV Rank 73.2% — elevated vs history
IV/HV Ratio
<1.05xIV/HV 1.76x — IV premium over HV
Sector Relative≤50%
Sector percentile 40% — below sector median
Term Structure
<1.1xFront/Back 1.07x — backwardation
Skew Normal
<1.25xPut/Call IV 1.16x — elevated
Absolute IV
<80%ATM IV 43.7% — normal range
Spread-Adjusted Value
<80%Effective IV 136.0% (ATM 43.7% + spread 46.1% + bias) — expensive
Execution Efficiency
<3.0%Total drag 68.97% (spread 46.13% + slippage 22.84%) — high friction
Vega Efficiency
≥5.0Vega efficiency 8.02 (vega 36.983 / spread 46.13%) — efficient
Sentiment
Bullish or bearish?
6.5
BearishBullish
Analyzes
put/call ratios
, open interest skew
, and flow direction to determine market bias.Risk ChecksVery Bullish - Strong signal (Conviction: +44%, Raw: +14%)
Flow Direction
|net sentiment| ≥25%Conviction-weighted: +44% (strong bullish) — Raw: +14%
OI Skew Magnitude
≥15%|OI skew| 40.8% — call-heavy
Volume-OI Alignment
Same sign, |vol skew| ≥10%Vol skew +8.3%, OI skew +40.8% — weak (same direction)
Conviction Quality
≥2/3 conditions0-DTE 50%, far-OTM 15%, avg DTE 30
OI Momentum
|change| ≥3%OI change +0.0% (5d) — stable
Smart Money Flow
|weighted flow| ≥20%ITM: +0%, ATM: +27%, OTM: +0% — bullish (ITM/ATM divergent)
Sector Relative≤40% or ≥60%
Sector P/C percentile 71% — very bearish vs sector
Activity
Unusual activity?
2.6
QuietActive
Detects volume surges,
block trades
, and unusual options activity that may signal moves.Risk Checks1/9 checks passed
Volume Surge
≥1.5xVolume 0.4x avg — normal
Turnover Rate
≥15%Vol/OI 0.9% — 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 +1.8% (5d) — stable
Sector Relative≥60%
Sector activity percentile 6% — quiet vs sector
Trade Quality
≥30%Large trade volume 0% — mostly retail
Execution Urgency
≥60%Aggressive execution 43% — patient
Flow Conviction
≥30Conviction +44 (bullish) — moderate
Liquidity
Can I trade efficiently?
2.6
IlliquidLiquid
Evaluates
bid-ask spreads
, volume depth, and open interest for trade execution quality.Risk Checks0/8 checks passed
Tradeable Spread
≤5.0%Spread 46.1% — wide
Adequate OI
≥10,000OI 2,815 — thin
Active Volume
≥500Volume 24/day — thin
Reasonable Cost
≤$0.50$2.31 to cross — expensive
Strike Coverage
≥5 strikes0 liquid strikes — limited options
Sector Relative≤40%
Sector spread percentile 41% — neutral vs sector
Order Book Depth
≥100 contractsDepth 10.2 contracts (bid:3.8 ask:6.4) — thin
Execution Quality
<1.0%Avg slippage 22.84% — poor
Timing
Is now a good time?
7.4
RiskyFavorable
Considers earnings proximity,
time decay
, and event calendar for optimal entry timing.Risk Checks7/9 checks passed
Term Structure Clarity
|slope| ≥5%Slope +6.8% — backwardation
IV Percentile Clarity
<30 or >70IV percentile 73% — seller opportunity
Event Detection
≥10pts kinkIV kink 2.5pts — no clear event
Theta/Vega Clarity
<0.5 or >2.0θ/ν ratio 140.14 — favors income trades
Expiration Distribution
≥3 expirations3 liquid expirations — flexible
Event Risk
≥60% (safe)safe window: Earnings in 18d (low risk)
Spread Momentum
<1.2 ratioSpread ratio 1.00x — stable
Flow Momentum
≥25% strength + ≥50% consistencyFlow +44% @ 71% consistency — STRONG directional (bullish)
Smart Money Timing
≥40 composite scoreScore 30 (ITM 20% + inst 0%) — retail dominated
Directional Strategy Fit
Option Buyers
Long Calls5.5
bullishIV fair, bullish flow
Long Puts4.5
bearishIV fair, bullish flow
Premium Sellers
Cash-Secured Put5.3
bullishIV fair, bullish flow
Covered Call4.4
bearishIV fair, bullish flow
For educational purposes only. Not investment advice.