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 11.9% — cheap vs history
IV/HV 1.60x — IV premium over HV
Sector percentile 20% — below sector median
Front/Back 1.75x — backwardation
Put/Call IV 1.16x — elevated
ATM IV 21.1% — normal range
Effective IV 68.0% (ATM 21.1% + spread 23.4% + bias) — fair
Total drag 24.81% (spread 23.45% + slippage 1.36%) — high friction
Vega efficiency 2.16 (vega 5.068 / spread 23.45%) — spread drag
Bullish or bearish?
Analyzes
Conviction-weighted: +0% (neutral) — Raw: -4%
|OI skew| 91.5% — call-heavy
Vol skew -98.9%, OI skew +91.5% — divergent (opposite)
0-DTE 0%, far-OTM 15%, avg DTE 30
OI change +0.0% (5d) — stable
ITM: -4%, ATM: +0%, OTM: +0% — neutral (ITM/ATM divergent)
Sector P/C percentile 100% — very bearish vs sector
Unusual activity?
Detects volume surges,
Volume 4.2x avg — hot
Vol/OI 2.5% — normal turnover
Top 3 strikes = 50% — dispersed
1 day(s) elevated — may be one-day event
OI change +2.2% (5d) — building
Sector activity percentile 55% — neutral vs sector
Large trade volume 0% — mostly retail
Aggressive execution 5% — patient
Conviction +0 (bullish) — mixed
Can I trade efficiently?
Evaluates
Spread 23.4% — wide
OI 14,368 — adequate
Volume 360/day — thin
$1.17 to cross — expensive
0 liquid strikes — limited options
Sector spread percentile 34% — tighter than sector
Depth 33.9 contracts (bid:11.2 ask:22.7) — thin
Avg slippage 1.36% — fair
Is now a good time?
Considers earnings proximity,
Slope +74.6% — backwardation
IV percentile 12% — buyer opportunity
IV kink 13.1pts — event priced
θ/ν ratio 83.22 — favors income trades
3 liquid expirations — flexible
caution advised: No earnings detected; CPI in 1d (HIGH)
Spread ratio 1.00x — stable
Flow +0% @ 50% consistency — unclear
Score 30 (ITM 20% + inst 0%) — retail dominated
For educational purposes only. Not investment advice.