IV is low. No clear edge detected.
Is IV priced right?
Measures whether options are cheap, fair, or rich relative to historical and peer
IV Rank 19.1% — cheap vs history
IV/HV 1.42x — IV premium over HV
Sector percentile 31% — below sector median
Front/Back 1.17x — backwardation
Put/Call IV 1.16x — elevated
ATM IV 28.3% — normal range
Effective IV 49.6% (ATM 28.3% + spread 10.6% + bias) — excellent value
Total drag 13.24% (spread 10.64% + slippage 2.60%) — high friction
Vega efficiency 4.85 (vega 5.160 / spread 10.64%) — spread drag
Bullish or bearish?
Analyzes
Conviction-weighted: -28% (bearish) — Raw: -39%
|OI skew| 12.2% — balanced
Vol skew +56.0%, OI skew +12.2% — aligned
0-DTE 54%, far-OTM 15%, avg DTE 30
OI change +0.0% (5d) — stable
ITM: -100%, ATM: -12%, OTM: +23% — strong bearish (ITM/ATM aligned)
Sector P/C percentile 18% — very bullish vs sector
Unusual activity?
Detects volume surges,
Volume 0.4x avg — normal
Vol/OI 1.2% — normal turnover
Top 3 strikes = 50% — dispersed
1 day(s) elevated — may be one-day event
OI change +0.3% (5d) — stable
Sector activity percentile 12% — quiet vs sector
Large trade volume 0% — mostly retail
Aggressive execution 26% — patient
Conviction -28 (bearish) — mixed
Can I trade efficiently?
Evaluates
Spread 10.6% — wide
OI 4,082 — thin
Volume 50/day — thin
$0.53 to cross — expensive
0 liquid strikes — limited options
Sector spread percentile 34% — tighter than sector
Depth 26.4 contracts (bid:12.3 ask:14.1) — thin
Avg slippage 2.60% — poor
Is now a good time?
Considers earnings proximity,
Slope +17.0% — backwardation
IV percentile 19% — buyer opportunity
IV kink 4.2pts — no clear event
θ/ν ratio 6.29 — favors income trades
3 liquid expirations — flexible
acceptable: Earnings in 12d
Spread ratio 1.00x — stable
Flow -28% @ 64% consistency — moderate (bearish)
Score 30 (ITM 20% + inst 0%) — retail dominated
For educational purposes only. Not investment advice.