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ETSYEtsy, Inc.

Options Analysis Report•SERVICES-BUSINESS SERVICES, NEC
Market Cap $7.7B|NYSE
● 2026-08-31$83.59
BULLISH
Analysis: 2026-08-28 EOD data
1Y +61.7%YTD +45.9%7D -4.0%
5,668
30D
±12.1%
3%

ETSY Options Overview

IV is elevated with bullish flow. No clear edge detected.

REWARDS

RISK ANALYSIS

5.4VALUESENTIMENTACTIVITYLIQUIDITYTIMING

Snowflake Analysis

Balanced conditions with no clear edge

Learn
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ETSY Gamma Walls

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Value

Is IV priced right?

6.8
ExpensiveCheap

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

levels.

Risk Checks6/9 checks passed
≤35%

IV Rank 70.2% — elevated vs history

<1.05x

IV/HV 0.93x — IV ≤ HV

Sector Relative≤50%

Sector percentile 64% — above sector median

<1.1x

Front/Back 0.87x — contango

<1.25x

Put/Call IV 1.16x — elevated

<80%

ATM IV 44.8% — normal range

<80%

Effective IV 76.8% (ATM 44.8% + spread 16.0% + bias) — fair

<3.0%

Total drag 25.99% (spread 15.99% + slippage 10.00%) — high friction

≥5.0

Vega efficiency 27.77 (vega 44.406 / spread 15.99%) — efficient

Sentiment

Bullish or bearish?

5.8
BearishBullish

Analyzes

,
, and flow direction to determine market bias.

Risk ChecksBearish - Strong signal (Conviction: -21%, Raw: -15%)
|net sentiment| ≥25%

Conviction-weighted: -21% (bearish) — Raw: -15%

≥15%

|OI skew| 38.8% — call-heavy

Same sign, |vol skew| ≥10%

Vol skew +49.9%, OI skew +38.8% — aligned

≥2/3 conditions

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

|change| ≥3%

OI change +0.0% (5d) — stable

|weighted flow| ≥20%

ITM: -71%, ATM: -2%, OTM: -15% — strong bearish (ITM/ATM aligned)

Sector Relative≤40% or ≥60%

Sector P/C percentile 27% — very bullish vs sector

Activity

Unusual activity?

4.2
QuietActive

Detects volume surges,

, and unusual options activity that may signal moves.

Risk Checks1/8 checks passed
≥1.5x

Volume 0.5x avg — normal

≥15%

Vol/OI 2.8% — normal turnover

≥2 days

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

≥5%

OI change +37.2% (5d) — building

Sector Relative≥60%

Sector activity percentile 59% — neutral vs sector

≥30%

Large trade volume 30% — mixed

≥60%

Aggressive execution 28% — patient

≥30

Conviction -21 (bearish) — mixed

Liquidity

Can I trade efficiently?

3.3
IlliquidLiquid

Evaluates

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

Risk Checks3/8 checks passed
≤5.0%

Spread 16.0% — wide

≥10,000

OI 203,119 — deep

≥500

Volume 5,668/day — active

≤$0.50

$0.80 to cross — expensive

≥5 strikes

0 liquid strikes — limited options

Sector Relative≤40%

Sector spread percentile 80% — much wider than sector

≥100 contracts

Depth 137.3 contracts (bid:66.6 ask:70.7) — adequate

<1.0%

Avg slippage 10.00% — poor

Timing

Is now a good time?

7.1
RiskyFavorable

Considers earnings proximity,

, and event calendar for optimal entry timing.

Risk Checks7/9 checks passed
|slope| ≥5%

Slope -12.9% — contango

<30 or >70

IV percentile 70% — seller opportunity

≥10pts kink

IV kink -1.8pts — no clear event

<0.5 or >2.0

θ/ν ratio 2439.90 — 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 -21% @ 61% consistency — unclear

≥40 composite score

Score 60 (ITM 20% + inst 30%) — moderate institutional

Directional Strategy Fit

Option Buyers
Long Calls6.8
bullishIV cheap, mixed flow
Long Puts5.4
bearishIV cheap, mixed flow
Premium Sellers
Cash-Secured Put4.7
bullishIV too cheap, mixed flow
Covered Call4.2
bearishIV too cheap, 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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