DECKDeckers Outdoor Corp
Options Analysis Report•RUBBER & PLASTICS FOOTWEAR
Market Cap $16.0B|NYSE
● 2026-04-17$112.50
NEUTRAL
Analysis: 2026-04-16 EOD data
1Y +8.6%YTD +5.3%7D +4.3%
Options Vol
7,444
30D
Implied Move
±10.5%
IV Rank
16%
DECK Options Overview
IV is elevated with unusual activity. Conditions favor premium sellers.
REWARDS
RISK ANALYSIS
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Value
Is IV priced right?
5.5
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 77.5% — elevated vs history
IV/HV Ratio
<1.05xIV/HV 0.97x — IV ≤ HV
Sector Relative≤50%
Sector percentile 78% — above sector median
Term Structure
<1.1xFront/Back 0.77x — contango
Skew Normal
<1.25xPut/Call IV 1.16x — elevated
Absolute IV
<80%ATM IV 45.8% — normal range
Spread-Adjusted Value
<80%Effective IV 87.0% (ATM 45.8% + spread 20.6% + bias) — expensive
Execution Efficiency
<3.0%Total drag 21.71% (spread 20.62% + slippage 1.09%) — high friction
Vega Efficiency
≥5.0Vega efficiency 8.69 (vega 17.929 / spread 20.62%) — efficient
Sentiment
Bullish or bearish?
5.2
BearishBullish
Analyzes
put/call ratios
, open interest skew
, and flow direction to determine market bias.Risk ChecksBullish - Weak signal (Conviction: +13%, Raw: +15%)
Flow Direction
|net sentiment| ≥25%Conviction-weighted: +13% (bullish) — Raw: +15%
OI Skew Magnitude
≥15%|OI skew| 2.2% — balanced
Volume-OI Alignment
Same sign, |vol skew| ≥10%Vol skew -6.4%, OI skew +2.2% — divergent (opposite)
Conviction Quality
≥2/3 conditions0-DTE 5%, far-OTM 15%, avg DTE 30
OI Momentum
|change| ≥3%OI change +0.0% (5d) — stable
Smart Money Flow
|weighted flow| ≥20%ITM: +13%, ATM: -11%, OTM: +55% — neutral (ITM/ATM divergent)
Sector Relative≤40% or ≥60%
Sector P/C percentile 70% — very bearish vs sector
Activity
Unusual activity?
5.0
QuietActive
Detects volume surges,
block trades
, and unusual options activity that may signal moves.Risk Checks2/9 checks passed
Volume Surge
≥1.5xVolume 1.3x avg — normal
Turnover Rate
≥15%Vol/OI 12.0% — 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 +8.0% (5d) — building
Sector Relative≥60%
Sector activity percentile 86% — very active vs sector
Trade Quality
≥30%Large trade volume 4% — mostly retail
Execution Urgency
≥60%Aggressive execution 6% — patient
Flow Conviction
≥30Conviction +13 (bullish) — mixed
Liquidity
Can I trade efficiently?
3.4
IlliquidLiquid
Evaluates
bid-ask spreads
, volume depth, and open interest for trade execution quality.Risk Checks2/8 checks passed
Tradeable Spread
≤5.0%Spread 20.6% — wide
Adequate OI
≥10,000OI 62,100 — deep
Active Volume
≥500Volume 7,444/day — active
Reasonable Cost
≤$0.50$1.03 to cross — expensive
Strike Coverage
≥5 strikes0 liquid strikes — limited options
Sector Relative≤40%
Sector spread percentile 78% — wider than sector
Order Book Depth
≥100 contractsDepth 50.2 contracts (bid:28.0 ask:22.2) — thin
Execution Quality
<1.0%Avg slippage 1.09% — fair
Timing
Is now a good time?
6.7
RiskyFavorable
Considers earnings proximity,
time decay
, and event calendar for optimal entry timing.Risk Checks6/9 checks passed
Term Structure Clarity
|slope| ≥5%Slope -22.8% — contango
IV Percentile Clarity
<30 or >70IV percentile 78% — seller opportunity
Event Detection
≥10pts kinkIV kink -9.2pts — no clear event
Theta/Vega Clarity
<0.5 or >2.0θ/ν ratio 246.95 — 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 +13% @ 57% consistency — unclear
Smart Money Timing
≥40 composite scoreScore 34 (ITM 20% + inst 4%) — retail dominated
Directional Strategy Fit
Option Buyers
Long Calls5.2
bullishIV fair, mixed flow
Long Puts5.1
bearishIV fair, mixed flow
Premium Sellers
Cash-Secured Put4.8
bullishIV fair, mixed flow
Covered Call4.7
bearishIV fair, mixed flow
For educational purposes only. Not investment advice.