Options/CX

CXCemex S.A.B. de C.V.

Options Analysis Report

Market Cap $15.7B|NYSE

● 2026-08-28$10.87

NEUTRAL

Analysis: 2026-08-27 EOD data

1Y +18.7%YTD -6.1%7D -1.5%

Options Vol

30D

Implied Move

±21.1%

IV Rank

34%

CX Options Overview

IV is elevated with bullish flow. Conditions favor premium sellers.

REWARDS

RISK ANALYSIS

Snowflake Analysis

Favorable conditions for premium sellers

Learn

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CX Gamma Walls

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Value

Is IV priced right?

2.6

ExpensiveCheap

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

levels.

Risk Checks2/9 checks passed

IV Rank

≤35%

IV Rank 75.8% — elevated vs history

IV/HV Ratio

<1.05x

IV/HV 2.05x — IV premium over HV

Sector Relative≤50%

Sector percentile 66% — above sector median

Term Structure

<1.1x

Front/Back 1.45x — backwardation

Skew Normal

<1.25x

Put/Call IV 1.16x — elevated

Absolute IV

<80%

ATM IV 52.6% — normal range

Spread-Adjusted Value

<80%

Effective IV 124.5% (ATM 52.6% + spread 35.9% + bias) — expensive

Execution Efficiency

<3.0%

Total drag 48.43% (spread 35.94% + slippage 12.49%) — high friction

Vega Efficiency

≥5.0

Vega efficiency 0.75 (vega 2.678 / spread 35.94%) — spread drag

Sentiment

Bullish or bearish?

3.2

BearishBullish

Analyzes

put/call ratios

open interest skew

, and flow direction to determine market bias.

Risk ChecksVery Bearish - Strong signal (Conviction: -96%, Raw: -91%)

Flow Direction

|net sentiment| ≥25%

Conviction-weighted: -96% (strong bearish) — Raw: -91%

OI Skew Magnitude

≥15%

|OI skew| 78.0% — call-heavy

Volume-OI Alignment

Same sign, |vol skew| ≥10%

Vol skew +100.0%, OI skew +78.0% — aligned

Conviction Quality

≥2/3 conditions

0-DTE 0%, far-OTM 15%, avg DTE 30

OI Momentum

|change| ≥3%

OI change +0.0% (5d) — stable

Smart Money Flow

|weighted flow| ≥20%

ITM: -100%, ATM: -100%, OTM: -84% — strong bearish (ITM/ATM aligned)

Sector Relative≤40% or ≥60%

Sector P/C percentile 50% — neutral vs sector

Activity

Unusual activity?

2.5

QuietActive

Detects volume surges,

block trades

, and unusual options activity that may signal moves.

Risk Checks1/8 checks passed

Volume Surge

≥1.5x

Volume 0.4x avg — normal

Turnover Rate

≥15%

Vol/OI 0.5% — normal turnover

Multi-Day Persistence

≥2 days

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

OI Build

≥5%

OI change -6.1% (5d) — unwinding

Sector Relative≥60%

Sector activity percentile 20% — quiet vs sector

Trade Quality

≥30%

Large trade volume 0% — mostly retail

Execution Urgency

≥60%

Aggressive execution 43% — patient

Flow Conviction

≥30

Conviction -96 (bearish) — strong conviction

Liquidity

Can I trade efficiently?

2.6

IlliquidLiquid

Evaluates

bid-ask spreads

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

Risk Checks2/8 checks passed

Tradeable Spread

≤5.0%

Spread 35.9% — wide

Adequate OI

≥10,000

OI 15,169 — adequate

Active Volume

≥500

Volume 76/day — thin

Reasonable Cost

≤$0.50

$1.80 to cross — expensive

Strike Coverage

≥5 strikes

0 liquid strikes — limited options

Sector Relative≤40%

Sector spread percentile 80% — much wider than sector

Order Book Depth

≥100 contracts

Depth 267.0 contracts (bid:192.4 ask:74.6) — adequate

Execution Quality

<1.0%

Avg slippage 12.49% — poor

Timing

Is now a good time?

8.1

RiskyFavorable

Considers earnings proximity,

time decay

, and event calendar for optimal entry timing.

Risk Checks8/9 checks passed

Term Structure Clarity

|slope| ≥5%

Slope +44.6% — backwardation

IV Percentile Clarity

<30 or >70

IV percentile 76% — seller opportunity

Event Detection

≥10pts kink

IV kink 30.7pts — event priced

Theta/Vega Clarity

<0.5 or >2.0

θ/ν ratio 622.72 — favors income trades

Expiration Distribution

≥3 expirations

3 liquid expirations — flexible

Event Risk

≥60% (safe)

safe window: No earnings detected

Spread Momentum

<1.2 ratio

Spread ratio 1.00x — stable

Flow Momentum

≥25% strength + ≥50% consistency

Flow -96% @ 97% consistency — STRONG directional (bearish)

Smart Money Timing

≥40 composite score

Score 30 (ITM 20% + inst 0%) — retail dominated

Directional Strategy Fit

Option Buyers

Long Calls3.6

bullishIV expensive, bearish flow

Long Puts4.9

bearishIV expensive, bearish flow

Premium Sellers

Cash-Secured Put5.1

bullishIV rich premium, bearish flow

Covered Call6.4

bearishIV rich premium, bearish 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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