IV is elevated with bearish flow and unusual activity. Conditions favor premium sellers.
Is IV priced right?
Measures whether options are cheap, fair, or rich relative to historical and peer
IV Rank 90.2% — elevated vs history
IV/HV 0.99x — IV ≤ HV
Sector percentile 95% — above sector median
Front/Back 1.37x — backwardation
Put/Call IV 1.16x — elevated
ATM IV 87.6% — crisis-level IV
Effective IV 100.8% (ATM 87.6% + spread 6.6% + bias) — expensive
Total drag 9.88% (spread 6.60% + slippage 3.28%) — high friction
Vega efficiency 24.87 (vega 16.416 / spread 6.60%) — efficient
Bullish or bearish?
Analyzes
Conviction-weighted: -25% (bearish) — Raw: -24%
|OI skew| 32.2% — put-heavy
Vol skew -37.4%, OI skew -32.2% — aligned
0-DTE 0%, far-OTM 15%, avg DTE 30
OI change +0.0% (5d) — stable
ITM: +7%, ATM: +6%, OTM: -28% — neutral (ITM/ATM aligned)
Sector P/C percentile 94% — very bearish vs sector
Unusual activity?
Detects volume surges,
Volume 0.8x avg — normal
Vol/OI 9.8% — normal turnover
Top 3 strikes = 50% — dispersed
1 day(s) elevated — may be one-day event
OI change +6.0% (5d) — building
Sector activity percentile 88% — very active vs sector
Large trade volume 62% — heavy institutional
Aggressive execution 32% — patient
Conviction -25 (bearish) — mixed
Can I trade efficiently?
Evaluates
Spread 6.6% — wide
OI 1,235,620 — deep
Volume 120,536/day — active
$0.33 to cross — cheap
1 liquid strikes — limited options
Sector spread percentile 95% — much wider than sector
Depth 283.2 contracts (bid:157.9 ask:125.3) — adequate
Avg slippage 3.28% — poor
Is now a good time?
Considers earnings proximity,
Slope +37.4% — backwardation
IV percentile 90% — seller opportunity
IV kink 18.1pts — event priced
θ/ν ratio 38.67 — favors income trades
5 liquid expirations — flexible
caution advised: No earnings detected; CPI in 1d (HIGH)
Spread ratio 1.00x — stable
Flow -25% @ 62% consistency — moderate (bearish)
Score 92 (ITM 20% + inst 62%) — HIGH institutional
For educational purposes only. Not investment advice.