FASTFastenal Co
Options Analysis Report•RETAIL-BUILDING MATERIALS, HARDWARE, GARDEN SUPPLY
Market Cap $52.6B|NASDAQ
● 2026-04-17$45.78
NEUTRAL
Analysis: 2026-04-16 EOD data
1Y +14.0%YTD +13.2%7D -6.9%
Options Vol
3,423
30D
Implied Move
±7.2%
IV Rank
20%
FAST Options Overview
IV is low. Conditions favor option buyers.
REWARDS
RISK ANALYSIS
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Value
Is IV priced right?
8.6
ExpensiveCheap
Measures whether options are cheap, fair, or rich relative to historical and peer
IV
levels.Risk Checks8/9 checks passed
IV Rank
≤35%IV Rank 19.7% — cheap vs history
IV/HV Ratio
<1.05xIV/HV 0.74x — IV ≤ HV
Sector Relative≤50%
Sector percentile 14% — below sector median
Term Structure
<1.1xFront/Back 0.88x — contango
Skew Normal
<1.25xPut/Call IV 1.16x — elevated
Absolute IV
<80%ATM IV 28.4% — normal range
Spread-Adjusted Value
<80%Effective IV 53.0% (ATM 28.4% + spread 12.3% + bias) — good value
Execution Efficiency
<3.0%Total drag 17.75% (spread 12.30% + slippage 5.45%) — high friction
Vega Efficiency
≥5.0Vega efficiency 13.55 (vega 16.665 / spread 12.30%) — efficient
Sentiment
Bullish or bearish?
5.1
BearishBullish
Analyzes
put/call ratios
, open interest skew
, and flow direction to determine market bias.Risk ChecksBearish - Moderate signal (Conviction: -25%, Raw: -24%)
Flow Direction
|net sentiment| ≥25%Conviction-weighted: -25% (bearish) — Raw: -24%
OI Skew Magnitude
≥15%|OI skew| 1.4% — balanced
Volume-OI Alignment
Same sign, |vol skew| ≥10%Vol skew +46.4%, OI skew -1.4% — divergent (opposite)
Conviction Quality
≥2/3 conditions0-DTE 11%, far-OTM 15%, avg DTE 30
OI Momentum
|change| ≥3%OI change +0.0% (5d) — stable
Smart Money Flow
|weighted flow| ≥20%ITM: -18%, ATM: -10%, OTM: -35% — bearish (ITM/ATM aligned)
Sector Relative≤40% or ≥60%
Sector P/C percentile 27% — very bullish vs sector
Activity
Unusual activity?
4.7
QuietActive
Detects volume surges,
block trades
, and unusual options activity that may signal moves.Risk Checks1/9 checks passed
Volume Surge
≥1.5xVolume 1.2x avg — normal
Turnover Rate
≥15%Vol/OI 3.2% — 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 +7.3% (5d) — building
Sector Relative≥60%
Sector activity percentile 47% — neutral vs sector
Trade Quality
≥30%Large trade volume 3% — mostly retail
Execution Urgency
≥60%Aggressive execution 59% — patient
Flow Conviction
≥30Conviction -25 (bearish) — mixed
Liquidity
Can I trade efficiently?
4.1
IlliquidLiquid
Evaluates
bid-ask spreads
, volume depth, and open interest for trade execution quality.Risk Checks4/8 checks passed
Tradeable Spread
≤5.0%Spread 12.3% — wide
Adequate OI
≥10,000OI 106,091 — deep
Active Volume
≥500Volume 3,423/day — adequate
Reasonable Cost
≤$0.50$0.62 to cross — expensive
Strike Coverage
≥5 strikes0 liquid strikes — limited options
Sector Relative≤40%
Sector spread percentile 17% — much tighter than sector
Order Book Depth
≥100 contractsDepth 202.1 contracts (bid:122.8 ask:79.3) — adequate
Execution Quality
<1.0%Avg slippage 5.45% — poor
Timing
Is now a good time?
7.3
RiskyFavorable
Considers earnings proximity,
time decay
, and event calendar for optimal entry timing.Risk Checks7/9 checks passed
Term Structure Clarity
|slope| ≥5%Slope -11.7% — contango
IV Percentile Clarity
<30 or >70IV percentile 20% — buyer opportunity
Event Detection
≥10pts kinkIV kink -1.6pts — no clear event
Theta/Vega Clarity
<0.5 or >2.0θ/ν ratio 1915.48 — favors income trades
Expiration Distribution
≥3 expirations3 liquid expirations — flexible
Event Risk
≥60% (safe)safe window: No events detected
Spread Momentum
<1.2 ratioSpread ratio 1.00x — stable
Flow Momentum
≥25% strength + ≥50% consistencyFlow -25% @ 63% consistency — moderate (bearish)
Smart Money Timing
≥40 composite scoreScore 33 (ITM 20% + inst 3%) — retail dominated
Directional Strategy Fit
Option Buyers
Long Calls6.5
bullishIV cheap, mixed flow
Long Puts6.4
bearishIV cheap, mixed flow
Premium Sellers
Cash-Secured Put4.1
bullishIV too cheap, mixed flow
Covered Call4.1
bearishIV too cheap, mixed flow
For educational purposes only. Not investment advice.