CPNGCoupang, Inc.
Options Analysis Report•RETAIL-CATALOG & MAIL-ORDER HOUSES
Market Cap $39.4B|NYSE
● 2026-04-17$21.55
BULLISH
Analysis: 2026-04-16 EOD data
1Y +2.0%YTD -7.8%7D +9.1%
Options Vol
14,433
30D
Implied Move
±15.8%
IV Rank
35%
CPNG Options Overview
bullish flow. Conditions favor premium sellers.
REWARDS
RISK ANALYSIS
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Value
Is IV priced right?
4.2
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 64.2% — elevated vs history
IV/HV Ratio
<1.05xIV/HV 1.42x — IV premium over HV
Sector Relative≤50%
Sector percentile 60% — above sector median
Term Structure
<1.1xFront/Back 0.92x — contango
Skew Normal
<1.25xPut/Call IV 1.16x — elevated
Absolute IV
<80%ATM IV 52.5% — normal range
Spread-Adjusted Value
<80%Effective IV 66.3% (ATM 52.5% + spread 6.9% + bias) — fair
Execution Efficiency
<3.0%Total drag 11.40% (spread 6.88% + slippage 4.52%) — high friction
Vega Efficiency
≥5.0Vega efficiency 3.05 (vega 2.096 / spread 6.88%) — spread drag
Sentiment
Bullish or bearish?
7.6
BearishBullish
Analyzes
put/call ratios
, open interest skew
, and flow direction to determine market bias.Risk ChecksVery Bullish - Strong signal (Conviction: +32%, Raw: +15%)
Flow Direction
|net sentiment| ≥25%Conviction-weighted: +32% (strong bullish) — Raw: +15%
OI Skew Magnitude
≥15%|OI skew| 33.5% — call-heavy
Volume-OI Alignment
Same sign, |vol skew| ≥10%Vol skew +50.6%, OI skew +33.5% — aligned
Conviction Quality
≥2/3 conditions0-DTE 28%, far-OTM 15%, avg DTE 30
OI Momentum
|change| ≥3%OI change +0.0% (5d) — stable
Smart Money Flow
|weighted flow| ≥20%ITM: +10%, ATM: -17%, OTM: +25% — neutral (ITM/ATM divergent)
Sector Relative≤40% or ≥60%
Sector P/C percentile 30% — very bullish vs sector
Activity
Unusual activity?
5.3
QuietActive
Detects volume surges,
block trades
, and unusual options activity that may signal moves.Risk Checks4/9 checks passed
Volume Surge
≥1.5xVolume 1.1x avg — normal
Turnover Rate
≥15%Vol/OI 2.9% — 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 +8.9% (5d) — building
Sector Relative≥60%
Sector activity percentile 61% — active vs sector
Trade Quality
≥30%Large trade volume 50% — heavy institutional
Execution Urgency
≥60%Aggressive execution 47% — patient
Flow Conviction
≥30Conviction +32 (bullish) — moderate
Liquidity
Can I trade efficiently?
5.0
IlliquidLiquid
Evaluates
bid-ask spreads
, volume depth, and open interest for trade execution quality.Risk Checks4/8 checks passed
Tradeable Spread
≤5.0%Spread 6.9% — wide
Adequate OI
≥10,000OI 502,238 — deep
Active Volume
≥500Volume 14,433/day — active
Reasonable Cost
≤$0.50$0.34 to cross — cheap
Strike Coverage
≥5 strikes0 liquid strikes — limited options
Sector Relative≤40%
Sector spread percentile 80% — wider than sector
Order Book Depth
≥100 contractsDepth 623.1 contracts (bid:335.1 ask:288.0) — deep
Execution Quality
<1.0%Avg slippage 4.52% — 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 -7.7% — contango
IV Percentile Clarity
<30 or >70IV percentile 64% — neutral
Event Detection
≥10pts kinkIV kink -6.9pts — no clear event
Theta/Vega Clarity
<0.5 or >2.0θ/ν ratio 67.63 — favors income trades
Expiration Distribution
≥3 expirations5 liquid expirations — flexible
Event Risk
≥60% (safe)safe window: No earnings detected
Spread Momentum
<1.2 ratioSpread ratio 1.00x — stable
Flow Momentum
≥25% strength + ≥50% consistencyFlow +32% @ 66% consistency — moderate (bullish)
Smart Money Timing
≥40 composite scoreScore 80 (ITM 20% + inst 50%) — HIGH institutional
Directional Strategy Fit
Option Buyers
Long Calls6.0
bullishIV fair, bullish flow
Long Puts4.1
bearishIV fair, bullish flow
Premium Sellers
Cash-Secured Put6.3
bullishIV fair, bullish flow
Covered Call4.7
bearishIV fair, bullish flow
For educational purposes only. Not investment advice.