CTSHCognizant Technology Solutions
Options Analysis Report•SERVICES-COMPUTER PROGRAMMING SERVICES
Market Cap $29.3B|NASDAQ
● 2026-04-17$61.30
NEUTRAL
Analysis: 2026-04-16 EOD data
1Y -9.9%YTD -24.6%7D +5.8%
Options Vol
921
30D
Implied Move
±12.2%
IV Rank
62%
CTSH Options Overview
Mixed signals. No clear edge detected.
REWARDS
RISK ANALYSIS
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Value
Is IV priced right?
5.1
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 61.1% — elevated vs history
IV/HV Ratio
<1.05xIV/HV 1.34x — IV premium over HV
Sector Relative≤50%
Sector percentile 22% — below sector median
Term Structure
<1.1xFront/Back 1.13x — backwardation
Skew Normal
<1.25xPut/Call IV 1.16x — elevated
Absolute IV
<80%ATM IV 39.3% — normal range
Spread-Adjusted Value
<80%Effective IV 79.0% (ATM 39.3% + spread 19.9% + bias) — fair
Execution Efficiency
<3.0%Total drag 25.58% (spread 19.85% + slippage 5.73%) — high friction
Vega Efficiency
≥5.0Vega efficiency 8.38 (vega 16.630 / spread 19.85%) — efficient
Sentiment
Bullish or bearish?
6.6
BearishBullish
Analyzes
put/call ratios
, open interest skew
, and flow direction to determine market bias.Risk ChecksNeutral - Moderate signal (Conviction: +2%, Raw: +8%)
Flow Direction
|net sentiment| ≥25%Conviction-weighted: +2% (neutral) — Raw: +8%
OI Skew Magnitude
≥15%|OI skew| 9.8% — balanced
Volume-OI Alignment
Same sign, |vol skew| ≥10%Vol skew +33.8%, OI skew +9.8% — aligned
Conviction Quality
≥2/3 conditions0-DTE 38%, far-OTM 15%, avg DTE 30
OI Momentum
|change| ≥3%OI change +0.0% (5d) — stable
Smart Money Flow
|weighted flow| ≥20%ITM: +99%, ATM: -68%, OTM: -13% — strong bullish (ITM/ATM divergent)
Sector Relative≤40% or ≥60%
Sector P/C percentile 40% — bullish vs sector
Activity
Unusual activity?
2.5
QuietActive
Detects volume surges,
block trades
, and unusual options activity that may signal moves.Risk Checks0/9 checks passed
Volume Surge
≥1.5xVolume 0.8x avg — normal
Turnover Rate
≥15%Vol/OI 2.4% — 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 +1.6% (5d) — stable
Sector Relative≥60%
Sector activity percentile 18% — quiet vs sector
Trade Quality
≥30%Large trade volume 0% — mostly retail
Execution Urgency
≥60%Aggressive execution 42% — patient
Flow Conviction
≥30Conviction +2 (bullish) — mixed
Liquidity
Can I trade efficiently?
3.5
IlliquidLiquid
Evaluates
bid-ask spreads
, volume depth, and open interest for trade execution quality.Risk Checks4/8 checks passed
Tradeable Spread
≤5.0%Spread 19.9% — wide
Adequate OI
≥10,000OI 38,178 — adequate
Active Volume
≥500Volume 921/day — adequate
Reasonable Cost
≤$0.50$0.99 to cross — expensive
Strike Coverage
≥5 strikes0 liquid strikes — limited options
Sector Relative≤40%
Sector spread percentile 24% — tighter than sector
Order Book Depth
≥100 contractsDepth 152.6 contracts (bid:81.6 ask:71.0) — adequate
Execution Quality
<1.0%Avg slippage 5.73% — poor
Timing
Is now a good time?
6.6
RiskyFavorable
Considers earnings proximity,
time decay
, and event calendar for optimal entry timing.Risk Checks5/9 checks passed
Term Structure Clarity
|slope| ≥5%Slope +12.7% — backwardation
IV Percentile Clarity
<30 or >70IV percentile 61% — neutral
Event Detection
≥10pts kinkIV kink 5.0pts — no clear event
Theta/Vega Clarity
<0.5 or >2.0θ/ν ratio 839.87 — favors income trades
Expiration Distribution
≥3 expirations3 liquid expirations — flexible
Event Risk
≥60% (safe)acceptable: Earnings in 12d
Spread Momentum
<1.2 ratioSpread ratio 1.00x — stable
Flow Momentum
≥25% strength + ≥50% consistencyFlow +2% @ 51% consistency — unclear
Smart Money Timing
≥40 composite scoreScore 30 (ITM 20% + inst 0%) — retail dominated
Directional Strategy Fit
Option Buyers
Long Calls5.6
bullishIV fair, bullish flow
Long Puts4.5
bearishIV fair, bullish flow
Premium Sellers
Cash-Secured Put5.5
bullishIV fair, bullish flow
Covered Call4.4
bearishIV fair, bullish flow
For educational purposes only. Not investment advice.