AInvestOption Pilot Program
Options/DBO
D

DBOInvesco DB Oil Fund

Options Analysis Report•COMMODITY CONTRACTS BROKERS & DEALERS
AUM $249M|ARCX
● 2026-08-31$21.38
VERY BULLISH
Analysis: 2026-08-28 EOD data
1Y +53.3%YTD +75.7%7D -1.7%
136
30D
±10.1%
9%

DBO Options Overview

IV is elevated with bullish flow. No clear edge detected.

REWARDS

RISK ANALYSIS

5.3VALUESENTIMENTACTIVITYLIQUIDITYTIMING

Snowflake Analysis

Balanced conditions with no clear edge

Learn
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DBO Gamma Walls

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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

levels.

Risk Checks4/9 checks passed
≤35%

IV Rank 73.3% — elevated vs history

<1.05x

IV/HV 1.03x — IV ≤ HV

Sector Relative≤50%

Sector percentile 85% — above sector median

<1.1x

Front/Back 0.79x — contango

<1.25x

Put/Call IV 1.16x — elevated

<80%

ATM IV 47.4% — normal range

<80%

Effective IV 94.7% (ATM 47.4% + spread 23.7% + bias) — expensive

<3.0%

Total drag 31.34% (spread 23.67% + slippage 7.67%) — high friction

≥5.0

Vega efficiency 2.16 (vega 5.117 / spread 23.67%) — spread drag

Sentiment

Bullish or bearish?

9.0
BearishBullish

Analyzes

,
, and flow direction to determine market bias.

Risk ChecksVery Bullish - Strong signal (Conviction: +70%, Raw: +53%)
|net sentiment| ≥25%

Conviction-weighted: +70% (strong bullish) — Raw: +53%

≥15%

|OI skew| 52.8% — call-heavy

Same sign, |vol skew| ≥10%

Vol skew +83.8%, OI skew +52.8% — 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: +95%, ATM: +25%, OTM: -39% — strong bullish (ITM/ATM aligned)

Sector Relative≤40% or ≥60%

Sector P/C percentile 5% — very bullish vs sector

Activity

Unusual activity?

2.8
QuietActive

Detects volume surges,

, and unusual options activity that may signal moves.

Risk Checks1/8 checks passed
≥1.5x

Volume 0.4x avg — normal

≥15%

Vol/OI 2.0% — normal turnover

≥2 days

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

≥5%

OI change +1.2% (5d) — stable

Sector Relative≥60%

Sector activity percentile 46% — neutral vs sector

≥30%

Large trade volume 0% — mostly retail

≥60%

Aggressive execution 3% — patient

≥30

Conviction +70 (bullish) — strong conviction

Liquidity

Can I trade efficiently?

2.6
IlliquidLiquid

Evaluates

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

Risk Checks1/8 checks passed
≤5.0%

Spread 23.7% — wide

≥10,000

OI 6,848 — thin

≥500

Volume 136/day — thin

≤$0.50

$1.18 to cross — expensive

≥5 strikes

0 liquid strikes — limited options

Sector Relative≤40%

Sector spread percentile 89% — much wider than sector

≥100 contracts

Depth 518.4 contracts (bid:183.2 ask:335.2) — deep

<1.0%

Avg slippage 7.67% — poor

Timing

Is now a good time?

6.9
RiskyFavorable

Considers earnings proximity,

, and event calendar for optimal entry timing.

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

Slope -20.6% — contango

<30 or >70

IV percentile 73% — seller opportunity

≥10pts kink

IV kink -30.9pts — no clear event

<0.5 or >2.0

θ/ν ratio 574.93 — favors income trades

≥3 expirations

3 liquid expirations — flexible

≥60% (safe)

safe window: No earnings detected

<1.2 ratio

Spread ratio 1.00x — stable

≥25% strength + ≥50% consistency

Flow +70% @ 86% consistency — STRONG directional (bullish)

≥40 composite score

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

Directional Strategy Fit

Option Buyers
Long Calls7.3
bullishIV fair, bullish flow
Long Puts3.6
bearishIV fair, bullish flow
Premium Sellers
Cash-Secured Put6.2
bullishIV fair, bullish flow
Covered Call3.4
bearishIV fair, bullish 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.

More on DBO

DBO gamma wallsDBO max painDBO IV rankDBO options flow