IV is low. Conditions favor option buyers.
Is IV priced right?
Measures whether options are cheap, fair, or rich relative to historical and peer
IV Rank 12.8% — cheap vs history
IV/HV 0.73x — IV ≤ HV
Sector percentile 20% — below sector median
Front/Back 0.96x — contango
Put/Call IV 1.16x — elevated
ATM IV 24.5% — normal range
Effective IV 59.3% (ATM 24.5% + spread 17.4% + bias) — good value
Total drag 23.62% (spread 17.38% + slippage 6.24%) — high friction
Vega efficiency 17.68 (vega 30.734 / spread 17.38%) — efficient
Bullish or bearish?
Analyzes
Conviction-weighted: +3% (neutral) — Raw: +3%
|OI skew| 16.4% — put-heavy
Vol skew +31.2%, OI skew -16.4% — divergent (opposite)
0-DTE 34%, far-OTM 15%, avg DTE 30
OI change +0.0% (5d) — stable
ITM: +87%, ATM: +23%, OTM: -14% — strong bullish (ITM/ATM aligned)
Sector P/C percentile 24% — very bullish vs sector
Unusual activity?
Detects volume surges,
Volume 1.1x avg — normal
Vol/OI 4.4% — normal turnover
Top 3 strikes = 50% — dispersed
1 day(s) elevated — may be one-day event
OI change +6.5% (5d) — building
Sector activity percentile 58% — neutral vs sector
Large trade volume 92% — heavy institutional
Aggressive execution 50% — patient
Conviction +3 (bullish) — mixed
Can I trade efficiently?
Evaluates
Spread 17.4% — wide
OI 6,735,172 — deep
Volume 296,767/day — active
$0.87 to cross — expensive
0 liquid strikes — limited options
Sector spread percentile 33% — tighter than sector
Depth 639.0999999999999 contracts (bid:313.7 ask:325.4) — deep
Avg slippage 6.24% — poor
Is now a good time?
Considers earnings proximity,
Slope -4.1% — flat/unclear
IV percentile 13% — buyer opportunity
IV kink -0.7pts — no clear event
θ/ν ratio 3453.26 — favors income trades
5 liquid expirations — flexible
safe window: No earnings detected
Spread ratio 1.00x — stable
Flow +3% @ 51% consistency — unclear
Score 122 (ITM 20% + inst 92%) — HIGH institutional
For educational purposes only. Not investment advice.