EPAMEPAM SYSTEMS, INC.
Options Analysis Report•SERVICES-COMPUTER PROGRAMMING SERVICES
Market Cap $6.9B|NYSE
● 2026-04-17$131.34
NEUTRAL
Analysis: 2026-04-16 EOD data
1Y -9.8%YTD -34.5%7D +7.2%
Options Vol
205
30D
Implied Move
±17.2%
IV Rank
42%
EPAM Options Overview
IV is elevated. Conditions favor premium sellers.
REWARDS
RISK ANALYSIS
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Value
Is IV priced right?
3.7
ExpensiveCheap
Measures whether options are cheap, fair, or rich relative to historical and peer
IV
levels.Risk Checks3/9 checks passed
IV Rank
≤35%IV Rank 88.5% — elevated vs history
IV/HV Ratio
<1.05xIV/HV 1.84x — IV premium over HV
Sector Relative≤50%
Sector percentile 65% — above sector median
Term Structure
<1.1xFront/Back 1.16x — backwardation
Skew Normal
<1.25xPut/Call IV 1.16x — elevated
Absolute IV
<80%ATM IV 55.1% — normal range
Spread-Adjusted Value
<80%Effective IV 91.0% (ATM 55.1% + spread 17.9% + bias) — expensive
Execution Efficiency
<3.0%Total drag 23.78% (spread 17.95% + slippage 5.83%) — high friction
Vega Efficiency
≥5.0Vega efficiency 11.46 (vega 20.575 / spread 17.95%) — efficient
Sentiment
Bullish or bearish?
5.4
BearishBullish
Analyzes
put/call ratios
, open interest skew
, and flow direction to determine market bias.Risk ChecksNeutral - Weak signal (Conviction: +5%, Raw: -12%)
Flow Direction
|net sentiment| ≥25%Conviction-weighted: +5% (neutral) — Raw: -12%
OI Skew Magnitude
≥15%|OI skew| 7.6% — balanced
Volume-OI Alignment
Same sign, |vol skew| ≥10%Vol skew +2.4%, OI skew +7.6% — weak (same direction)
Conviction Quality
≥2/3 conditions0-DTE 9%, far-OTM 15%, avg DTE 30
OI Momentum
|change| ≥3%OI change +0.0% (5d) — stable
Smart Money Flow
|weighted flow| ≥20%ITM: -8%, ATM: +50%, OTM: -36% — bullish (ITM/ATM divergent)
Sector Relative≤40% or ≥60%
Sector P/C percentile 73% — very bearish vs sector
Activity
Unusual activity?
2.5
QuietActive
Detects volume surges,
block trades
, and unusual options activity that may signal moves.Risk Checks0/9 checks passed
Volume Surge
≥1.5xVolume 0.8x avg — normal
Turnover Rate
≥15%Vol/OI 2.5% — 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 +2.5% (5d) — building
Sector Relative≥60%
Sector activity percentile 21% — below sector avg
Trade Quality
≥30%Large trade volume 0% — mostly retail
Execution Urgency
≥60%Aggressive execution 22% — patient
Flow Conviction
≥30Conviction +5 (bullish) — mixed
Liquidity
Can I trade efficiently?
2.6
IlliquidLiquid
Evaluates
bid-ask spreads
, volume depth, and open interest for trade execution quality.Risk Checks0/8 checks passed
Tradeable Spread
≤5.0%Spread 17.9% — wide
Adequate OI
≥10,000OI 8,080 — thin
Active Volume
≥500Volume 205/day — thin
Reasonable Cost
≤$0.50$0.90 to cross — expensive
Strike Coverage
≥5 strikes1 liquid strikes — limited options
Sector Relative≤40%
Sector spread percentile 66% — wider than sector
Order Book Depth
≥100 contractsDepth 29.3 contracts (bid:14.0 ask:15.3) — thin
Execution Quality
<1.0%Avg slippage 5.83% — poor
Timing
Is now a good time?
7.1
RiskyFavorable
Considers earnings proximity,
time decay
, and event calendar for optimal entry timing.Risk Checks6/9 checks passed
Term Structure Clarity
|slope| ≥5%Slope +15.8% — backwardation
IV Percentile Clarity
<30 or >70IV percentile 88% — seller opportunity
Event Detection
≥10pts kinkIV kink 7.9pts — no clear event
Theta/Vega Clarity
<0.5 or >2.0θ/ν ratio 206.16 — favors income trades
Expiration Distribution
≥3 expirations3 liquid expirations — flexible
Event Risk
≥60% (safe)safe window: Earnings in 20d (low risk)
Spread Momentum
<1.2 ratioSpread ratio 1.00x — stable
Flow Momentum
≥25% strength + ≥50% consistencyFlow +5% @ 52% consistency — unclear
Smart Money Timing
≥40 composite scoreScore 30 (ITM 20% + inst 0%) — retail dominated
Directional Strategy Fit
Option Buyers
Long Calls4.6
bullishIV expensive, mixed flow
Long Puts4.4
bearishIV expensive, mixed flow
Premium Sellers
Cash-Secured Put5.4
bullishIV rich premium, mixed flow
Covered Call5.1
bearishIV rich premium, mixed flow
For educational purposes only. Not investment advice.