CRWDCrowdStrike Holdings, Inc. Class A Common Stock
Options Analysis Report•SERVICES-PREPACKAGED SOFTWARE
Market Cap $107.5B|NASDAQ
● 2026-04-17$423.95
NEUTRAL
Analysis: 2026-04-16 EOD data
1Y +16.9%YTD -6.5%7D +11.9%
Options Vol
43,790
30D
Implied Move
±13.9%
IV Rank
37%
CRWD Options Overview
IV is elevated. Conditions favor premium sellers.
REWARDS
RISK ANALYSIS
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Value
Is IV priced right?
6.3
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 83.2% — elevated vs history
IV/HV Ratio
<1.05xIV/HV 0.83x — IV ≤ HV
Sector Relative≤50%
Sector percentile 55% — above sector median
Term Structure
<1.1xFront/Back 1.01x — flat
Skew Normal
<1.25xPut/Call IV 1.16x — elevated
Absolute IV
<80%ATM IV 50.0% — normal range
Spread-Adjusted Value
<80%Effective IV 69.0% (ATM 50.0% + spread 9.5% + bias) — fair
Execution Efficiency
<3.0%Total drag 15.39% (spread 9.51% + slippage 5.88%) — high friction
Vega Efficiency
≥5.0Vega efficiency 230.71 (vega 219.401 / spread 9.51%) — efficient
Sentiment
Bullish or bearish?
5.8
BearishBullish
Analyzes
put/call ratios
, open interest skew
, and flow direction to determine market bias.Risk ChecksNeutral - Weak signal (Conviction: +1%, Raw: +1%)
Flow Direction
|net sentiment| ≥25%Conviction-weighted: +1% (neutral) — Raw: +1%
OI Skew Magnitude
≥15%|OI skew| 7.4% — balanced
Volume-OI Alignment
Same sign, |vol skew| ≥10%Vol skew +14.9%, OI skew +7.4% — aligned
Conviction Quality
≥2/3 conditions0-DTE 53%, far-OTM 15%, avg DTE 30
OI Momentum
|change| ≥3%OI change +0.0% (5d) — stable
Smart Money Flow
|weighted flow| ≥20%ITM: +21%, ATM: -16%, OTM: +10% — neutral (ITM/ATM divergent)
Sector Relative≤40% or ≥60%
Sector P/C percentile 64% — bearish vs sector
Activity
Unusual activity?
4.4
QuietActive
Detects volume surges,
block trades
, and unusual options activity that may signal moves.Risk Checks2/9 checks passed
Volume Surge
≥1.5xVolume 1.0x avg — normal
Turnover Rate
≥15%Vol/OI 10.5% — 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 +8.5% (5d) — building
Sector Relative≥60%
Sector activity percentile 72% — active vs sector
Trade Quality
≥30%Large trade volume 9% — mostly retail
Execution Urgency
≥60%Aggressive execution 29% — patient
Flow Conviction
≥30Conviction +1 (bullish) — mixed
Liquidity
Can I trade efficiently?
4.6
IlliquidLiquid
Evaluates
bid-ask spreads
, volume depth, and open interest for trade execution quality.Risk Checks4/8 checks passed
Tradeable Spread
≤5.0%Spread 9.5% — wide
Adequate OI
≥10,000OI 418,635 — deep
Active Volume
≥500Volume 43,790/day — active
Reasonable Cost
≤$0.50$0.48 to cross — cheap
Strike Coverage
≥5 strikes0 liquid strikes — limited options
Sector Relative≤40%
Sector spread percentile 56% — neutral vs sector
Order Book Depth
≥100 contractsDepth 134.7 contracts (bid:56.3 ask:78.4) — adequate
Execution Quality
<1.0%Avg slippage 5.88% — poor
Timing
Is now a good time?
6.7
RiskyFavorable
Considers earnings proximity,
time decay
, and event calendar for optimal entry timing.Risk Checks5/9 checks passed
Term Structure Clarity
|slope| ≥5%Slope +1.2% — flat/unclear
IV Percentile Clarity
<30 or >70IV percentile 83% — seller opportunity
Event Detection
≥10pts kinkIV kink 0.9pts — no clear event
Theta/Vega Clarity
<0.5 or >2.0θ/ν ratio 2557.12 — favors income trades
Expiration Distribution
≥3 expirations5 liquid expirations — flexible
Event Risk
≥60% (safe)safe window: No events detected
Spread Momentum
<1.2 ratioSpread ratio 1.00x — stable
Flow Momentum
≥25% strength + ≥50% consistencyFlow +1% @ 50% consistency — unclear
Smart Money Timing
≥40 composite scoreScore 39 (ITM 20% + inst 9%) — retail dominated
Directional Strategy Fit
Option Buyers
Long Calls5.9
bullishIV cheap, mixed flow
Long Puts5.4
bearishIV cheap, mixed flow
Premium Sellers
Cash-Secured Put5.1
bullishIV too cheap, mixed flow
Covered Call4.5
bearishIV too cheap, mixed flow
For educational purposes only. Not investment advice.