EMNEastman Chemical Company
Options Analysis Report•PLASTIC MATERIALS, SYNTH RESINS & NONVULCAN ELASTOMERS
Market Cap $8.6B|NYSE
● 2026-06-12$75.22
VERY BULLISH
Analysis: 2026-06-11 EOD data
1Y -1.3%YTD +16.9%7D +4.7%
Options Vol
917
30D
Implied Move
±8.6%
IV Rank
30%
EMN Options Overview
bullish flow. Conditions favor option buyers.
REWARDS
RISK ANALYSIS
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Value
Is IV priced right?
5.4
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 50.0% — elevated vs history
IV/HV Ratio
<1.05xIV/HV 1.00x — IV ≤ HV
Sector Relative≤50%
Sector percentile 50% — below sector median
Term Structure
<1.1xFront/Back 1.44x — backwardation
Skew Normal
<1.25xPut/Call IV 1.00x — normal
Absolute IV
<80%ATM IV 0.0% — normal range
Spread-Adjusted Value
<80%Effective IV 44.2% (ATM 0.0% + spread 22.1% + bias) — excellent value
Execution Efficiency
<3.0%Total drag 28.13% (spread 22.12% + slippage 6.01%) — high friction
Vega Efficiency
≥5.0Vega efficiency 0.00 (vega 0.000 / spread 22.12%) — spread drag
Sentiment
Bullish or bearish?
7.8
BearishBullish
Analyzes
put/call ratios
, open interest skew
, and flow direction to determine market bias.Risk ChecksVery Bullish - Strong signal (Conviction: +36%, Raw: +34%)
Flow Direction
|net sentiment| ≥25%Conviction-weighted: +36% (strong bullish) — Raw: +34%
OI Skew Magnitude
≥15%|OI skew| 57.4% — call-heavy
Volume-OI Alignment
Same sign, |vol skew| ≥10%Vol skew +91.7%, OI skew +57.4% — aligned
Conviction Quality
≥2/3 conditions0-DTE 0%, far-OTM 15%, avg DTE 30
OI Momentum
|change| ≥3%OI change +0.0% (5d) — stable
Smart Money Flow
|weighted flow| ≥20%ITM: +83%, ATM: +94%, OTM: -49% — strong bullish (ITM/ATM aligned)
Sector Relative≤40% or ≥60%
Sector P/C percentile 9% — very bullish vs sector
Activity
Unusual activity?
3.5
QuietActive
Detects volume surges,
block trades
, and unusual options activity that may signal moves.Risk Checks2/9 checks passed
Volume Surge
≥1.5xVolume 0.7x avg — normal
Turnover Rate
≥15%Vol/OI 3.5% — 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 -3.4% (5d) — unwinding
Sector Relative≥60%
Sector activity percentile 79% — active vs sector
Trade Quality
≥30%Large trade volume 0% — mostly retail
Execution Urgency
≥60%Aggressive execution 15% — patient
Flow Conviction
≥30Conviction +36 (bullish) — moderate
Liquidity
Can I trade efficiently?
3.5
IlliquidLiquid
Evaluates
bid-ask spreads
, volume depth, and open interest for trade execution quality.Risk Checks4/8 checks passed
Tradeable Spread
≤5.0%Spread 22.1% — wide
Adequate OI
≥10,000OI 25,895 — adequate
Active Volume
≥500Volume 917/day — adequate
Reasonable Cost
≤$0.50$1.11 to cross — expensive
Strike Coverage
≥5 strikes0 liquid strikes — limited options
Sector Relative≤40%
Sector spread percentile 0% — much tighter than sector
Order Book Depth
≥100 contractsDepth 323.4 contracts (bid:269.5 ask:53.9) — adequate
Execution Quality
<1.0%Avg slippage 6.01% — poor
Timing
Is now a good time?
6.6
RiskyFavorable
Considers earnings proximity,
time decay
, and event calendar for optimal entry timing.Risk Checks6/9 checks passed
Term Structure Clarity
|slope| ≥5%Slope +44.4% — backwardation
IV Percentile Clarity
<30 or >70IV percentile 50% — neutral
Event Detection
≥10pts kinkIV kink 17.4pts — event priced
Theta/Vega Clarity
<0.5 or >2.0θ/ν ratio 1.00 — favors mixed
Expiration Distribution
≥3 expirations3 liquid expirations — flexible
Event Risk
≥60% (safe)acceptable: No earnings detected; FOMC in 5d
Spread Momentum
<1.2 ratioSpread ratio 1.00x — stable
Flow Momentum
≥25% strength + ≥50% consistencyFlow +36% @ 68% consistency — moderate (bullish)
Smart Money Timing
≥40 composite scoreScore 30 (ITM 20% + inst 0%) — retail dominated
Directional Strategy Fit
Option Buyers
Long Calls6.1
bullishIV fair, bullish flow
Long Puts4.2
bearishIV fair, bullish flow
Premium Sellers
Cash-Secured Put5.8
bullishIV fair, bullish flow
Covered Call3.9
bearishIV fair, bullish flow
For educational purposes only. Not investment advice.