DRIDarden Restaurants, Inc.
Options Analysis Report•RETAIL-EATING PLACES
Market Cap $23.0B|NYSE
● 2026-04-17$201.07
NEUTRAL
Analysis: 2026-04-16 EOD data
1Y +2.0%YTD +7.4%7D +4.5%
Options Vol
218
30D
Implied Move
±7.9%
IV Rank
31%
DRI Options Overview
IV is low. No clear edge detected.
REWARDS
RISK ANALYSIS
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Value
Is IV priced right?
7.3
ExpensiveCheap
Measures whether options are cheap, fair, or rich relative to historical and peer
IV
levels.Risk Checks7/9 checks passed
IV Rank
≤35%IV Rank 24.8% — cheap vs history
IV/HV Ratio
<1.05xIV/HV 0.95x — IV ≤ HV
Sector Relative≤50%
Sector percentile 12% — below sector median
Term Structure
<1.1xFront/Back 0.93x — contango
Skew Normal
<1.25xPut/Call IV 1.16x — elevated
Absolute IV
<80%ATM IV 29.9% — normal range
Spread-Adjusted Value
<80%Effective IV 71.1% (ATM 29.9% + spread 20.6% + bias) — fair
Execution Efficiency
<3.0%Total drag 29.44% (spread 20.59% + slippage 8.85%) — high friction
Vega Efficiency
≥5.0Vega efficiency 1.83 (vega 3.775 / spread 20.59%) — spread drag
Sentiment
Bullish or bearish?
5.0
BearishBullish
Analyzes
put/call ratios
, open interest skew
, and flow direction to determine market bias.Risk ChecksBearish - Strong signal (Conviction: -26%, Raw: -22%)
Flow Direction
|net sentiment| ≥25%Conviction-weighted: -26% (bearish) — Raw: -22%
OI Skew Magnitude
≥15%|OI skew| 12.1% — balanced
Volume-OI Alignment
Same sign, |vol skew| ≥10%Vol skew +11.0%, OI skew +12.1% — aligned
Conviction Quality
≥2/3 conditions0-DTE 22%, 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: -12%, OTM: -29% — strong bullish (ITM/ATM divergent)
Sector Relative≤40% or ≥60%
Sector P/C percentile 54% — neutral vs sector
Activity
Unusual activity?
2.8
QuietActive
Detects volume surges,
block trades
, and unusual options activity that may signal moves.Risk Checks0/9 checks passed
Volume Surge
≥1.5xVolume 0.3x avg — normal
Turnover Rate
≥15%Vol/OI 1.3% — 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 +3.2% (5d) — building
Sector Relative≥60%
Sector activity percentile 8% — quiet vs sector
Trade Quality
≥30%Large trade volume 0% — mostly retail
Execution Urgency
≥60%Aggressive execution 49% — patient
Flow Conviction
≥30Conviction -26 (bearish) — mixed
Liquidity
Can I trade efficiently?
3.3
IlliquidLiquid
Evaluates
bid-ask spreads
, volume depth, and open interest for trade execution quality.Risk Checks3/8 checks passed
Tradeable Spread
≤5.0%Spread 20.6% — wide
Adequate OI
≥10,000OI 16,900 — adequate
Active Volume
≥500Volume 218/day — thin
Reasonable Cost
≤$0.50$1.03 to cross — expensive
Strike Coverage
≥5 strikes0 liquid strikes — limited options
Sector Relative≤40%
Sector spread percentile 14% — much tighter than sector
Order Book Depth
≥100 contractsDepth 100.5 contracts (bid:53.1 ask:47.4) — adequate
Execution Quality
<1.0%Avg slippage 8.85% — poor
Timing
Is now a good time?
7.5
RiskyFavorable
Considers earnings proximity,
time decay
, and event calendar for optimal entry timing.Risk Checks7/9 checks passed
Term Structure Clarity
|slope| ≥5%Slope -6.7% — contango
IV Percentile Clarity
<30 or >70IV percentile 25% — buyer opportunity
Event Detection
≥10pts kinkIV kink -1.7pts — no clear event
Theta/Vega Clarity
<0.5 or >2.0θ/ν ratio 4.80 — favors income trades
Expiration Distribution
≥3 expirations3 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 -26% @ 63% consistency — moderate (bearish)
Smart Money Timing
≥40 composite scoreScore 30 (ITM 20% + inst 0%) — retail dominated
Directional Strategy Fit
Option Buyers
Long Calls5.9
bullishIV cheap, mixed flow
Long Puts5.9
bearishIV cheap, mixed flow
Premium Sellers
Cash-Secured Put4.4
bullishIV too cheap, mixed flow
Covered Call4.4
bearishIV too cheap, mixed flow
For educational purposes only. Not investment advice.