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ENVAEnova International, Inc.

Options Analysis Report•PERSONAL CREDIT INSTITUTIONS
Market Cap $5.8B|NYSE
● 2026-08-31$232.72
NEUTRAL
Analysis: 2026-08-28 EOD data
1Y +93.5%YTD +43.7%7D -6.0%
25
30D
±11.4%
12%

ENVA Options Overview

Mixed signals. No clear edge detected.

REWARDS

RISK ANALYSIS

4.6VALUESENTIMENTACTIVITYLIQUIDITYTIMING

Snowflake Analysis

Balanced conditions with no clear edge

Learn
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ENVA Gamma Walls

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Value

Is IV priced right?

5.6
ExpensiveCheap

Measures whether options are cheap, fair, or rich relative to historical and peer

levels.

Risk Checks5/9 checks passed
≤35%

IV Rank 68.7% — elevated vs history

<1.05x

IV/HV 1.20x — IV premium over HV

Sector Relative≤50%

Sector percentile 82% — above sector median

<1.1x

Front/Back 0.88x — contango

<1.25x

Put/Call IV 1.16x — elevated

<80%

ATM IV 43.8% — normal range

<80%

Effective IV 73.5% (ATM 43.8% + spread 14.9% + bias) — fair

<3.0%

Total drag 22.86% (spread 14.86% + slippage 8.00%) — high friction

≥5.0

Vega efficiency 45.06 (vega 66.958 / spread 14.86%) — efficient

Sentiment

Bullish or bearish?

5.1
BearishBullish

Analyzes

,
, and flow direction to determine market bias.

Risk ChecksBearish - Moderate signal (Conviction: -27%, Raw: -33%)
|net sentiment| ≥25%

Conviction-weighted: -27% (bearish) — Raw: -33%

≥15%

|OI skew| 0.1% — balanced

Same sign, |vol skew| ≥10%

Vol skew +84.0%, OI skew -0.1% — divergent (opposite)

≥2/3 conditions

0-DTE 0%, far-OTM 15%, avg DTE 30

|change| ≥3%

OI change +0.0% (5d) — stable

|weighted flow| ≥20%

ITM: -100%, ATM: +67%, OTM: -65% — strong bearish (ITM/ATM divergent)

Sector Relative≤40% or ≥60%

Sector P/C percentile 5% — very bullish vs sector

Activity

Unusual activity?

2.3
QuietActive

Detects volume surges,

, and unusual options activity that may signal moves.

Risk Checks0/8 checks passed
≥1.5x

Volume 0.2x avg — normal

≥15%

Vol/OI 0.8% — normal turnover

≥2 days

1 day(s) elevated — may be one-day event

≥5%

OI change +2.9% (5d) — building

Sector Relative≥60%

Sector activity percentile 25% — below sector avg

≥30%

Large trade volume 0% — mostly retail

≥60%

Aggressive execution 18% — patient

≥30

Conviction -27 (bearish) — mixed

Liquidity

Can I trade efficiently?

2.1
IlliquidLiquid

Evaluates

, volume depth, and open interest for trade execution quality.

Risk Checks0/8 checks passed
≤5.0%

Spread 14.9% — wide

≥10,000

OI 3,289 — thin

≥500

Volume 25/day — thin

≤$0.50

$0.74 to cross — expensive

≥5 strikes

0 liquid strikes — limited options

Sector Relative≤40%

Sector spread percentile 87% — much wider than sector

≥100 contracts

Depth 13.1 contracts (bid:5.6 ask:7.5) — thin

<1.0%

Avg slippage 8.00% — poor

Timing

Is now a good time?

7.6
RiskyFavorable

Considers earnings proximity,

, and event calendar for optimal entry timing.

Risk Checks6/9 checks passed
|slope| ≥5%

Slope -11.8% — contango

<30 or >70

IV percentile 69% — neutral

≥10pts kink

IV kink -4.0pts — no clear event

<0.5 or >2.0

θ/ν ratio 758.30 — favors income trades

≥3 expirations

4 liquid expirations — flexible

≥60% (safe)

safe window: No events detected

<1.2 ratio

Spread ratio 1.00x — stable

≥25% strength + ≥50% consistency

Flow -27% @ 65% consistency — moderate (bearish)

≥40 composite score

Score 30 (ITM 20% + inst 0%) — retail dominated

Directional Strategy Fit

Option Buyers
Long Calls5.2
bullishIV fair, mixed flow
Long Puts5.1
bearishIV fair, mixed flow
Premium Sellers
Cash-Secured Put4.7
bullishIV fair, mixed flow
Covered Call4.6
bearishIV fair, mixed flow

For educational purposes only. Not investment advice.

The Options Desk tracks the move options price into every US earnings report the week of Aug 31, next to how much each stock has actually moved on its past prints — plus the SPY, QQQ and IWM expected ranges and the gamma walls that box them in.

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