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CRCLCircle Internet Group, Inc.

Options Analysis Report•FINANCE SERVICES
Market Cap $22.1B|NYSE
● 2026-08-31$87.14
NEUTRAL
Analysis: 2026-08-28 EOD data
1Y -27.5%YTD +4.4%7D -0.7%
135,715
30D
±20.6%
9%

CRCL Options Overview

IV is elevated with unusual activity. Conditions favor premium sellers.

REWARDS

RISK ANALYSIS

6.1VALUESENTIMENTACTIVITYLIQUIDITYTIMING

Snowflake Analysis

Favorable conditions for premium sellers

Learn
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CRCL Gamma Walls

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Value

Is IV priced right?

5.9
ExpensiveCheap

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

levels.

Risk Checks6/9 checks passed
≤35%

IV Rank 87.2% — elevated vs history

<1.05x

IV/HV 0.92x — IV ≤ HV

Sector Relative≤50%

Sector percentile 92% — above sector median

<1.1x

Front/Back 0.88x — contango

<1.25x

Put/Call IV 1.16x — elevated

<80%

ATM IV 66.2% — normal range

<80%

Effective IV 79.7% (ATM 66.2% + spread 6.8% + bias) — fair

<3.0%

Total drag 11.81% (spread 6.77% + slippage 5.04%) — high friction

≥5.0

Vega efficiency 12.32 (vega 8.340 / spread 6.77%) — efficient

Sentiment

Bullish or bearish?

5.8
BearishBullish

Analyzes

,
, and flow direction to determine market bias.

Risk ChecksBearish - Moderate signal (Conviction: -17%, Raw: -18%)
|net sentiment| ≥25%

Conviction-weighted: -17% (bearish) — Raw: -18%

≥15%

|OI skew| 10.6% — balanced

Same sign, |vol skew| ≥10%

Vol skew +28.0%, OI skew +10.6% — 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: -7%, ATM: -2%, OTM: -22% — neutral (ITM/ATM aligned)

Sector Relative≤40% or ≥60%

Sector P/C percentile 21% — very bullish vs sector

Activity

Unusual activity?

6.0
QuietActive

Detects volume surges,

, and unusual options activity that may signal moves.

Risk Checks4/8 checks passed
≥1.5x

Volume 1.3x avg — normal

≥15%

Vol/OI 16.2% — high turnover

≥2 days

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

≥5%

OI change +14.2% (5d) — building

Sector Relative≥60%

Sector activity percentile 90% — very active vs sector

≥30%

Large trade volume 39% — institutional presence

≥60%

Aggressive execution 28% — patient

≥30

Conviction -17 (bearish) — mixed

Liquidity

Can I trade efficiently?

5.5
IlliquidLiquid

Evaluates

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

Risk Checks4/8 checks passed
≤5.0%

Spread 6.8% — wide

≥10,000

OI 838,525 — deep

≥500

Volume 135,715/day — active

≤$0.50

$0.34 to cross — cheap

≥5 strikes

0 liquid strikes — limited options

Sector Relative≤40%

Sector spread percentile 94% — much wider than sector

≥100 contracts

Depth 326.4 contracts (bid:145.6 ask:180.8) — adequate

<1.0%

Avg slippage 5.04% — poor

Timing

Is now a good time?

7.5
RiskyFavorable

Considers earnings proximity,

, and event calendar for optimal entry timing.

Risk Checks7/9 checks passed
|slope| ≥5%

Slope -11.9% — contango

<30 or >70

IV percentile 87% — seller opportunity

≥10pts kink

IV kink -6.3pts — no clear event

<0.5 or >2.0

θ/ν ratio 54.94 — favors income trades

≥3 expirations

5 liquid expirations — flexible

≥60% (safe)

safe window: No events detected

<1.2 ratio

Spread ratio 1.00x — stable

≥25% strength + ≥50% consistency

Flow -17% @ 59% consistency — unclear

≥40 composite score

Score 69 (ITM 20% + inst 39%) — HIGH institutional

Directional Strategy Fit

Option Buyers
Long Calls6.0
bullishIV fair, mixed flow
Long Puts5.5
bearishIV fair, mixed flow
Premium Sellers
Cash-Secured Put5.5
bullishIV fair, mixed flow
Covered Call4.9
bearishIV fair, mixed 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.

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