FDSFactset Research Systems
Options Analysis Report•SERVICES-COMPUTER PROGRAMMING, DATA PROCESSING, ETC.
Market Cap $8.5B|NYSE
● 2026-04-17$232.73
BULLISH
Analysis: 2026-04-16 EOD data
1Y -43.7%YTD -18.3%7D +10.0%
Options Vol
354
30D
Implied Move
±13.3%
IV Rank
30%
FDS Options Overview
IV is elevated. Conditions favor premium sellers.
REWARDS
RISK ANALYSIS
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Value
Is IV priced right?
5.0
ExpensiveCheap
Measures whether options are cheap, fair, or rich relative to historical and peer
IV
levels.Risk Checks6/9 checks passed
IV Rank
≤35%IV Rank 81.5% — elevated vs history
IV/HV Ratio
<1.05xIV/HV 1.01x — IV ≤ HV
Sector Relative≤50%
Sector percentile 94% — above sector median
Term Structure
<1.1xFront/Back 1.01x — flat
Skew Normal
<1.25xPut/Call IV 1.16x — elevated
Absolute IV
<80%ATM IV 48.5% — normal range
Spread-Adjusted Value
<80%Effective IV 71.2% (ATM 48.5% + spread 11.3% + bias) — fair
Execution Efficiency
<3.0%Total drag 26.81% (spread 11.34% + slippage 15.47%) — high friction
Vega Efficiency
≥5.0Vega efficiency 64.50 (vega 73.139 / spread 11.34%) — efficient
Sentiment
Bullish or bearish?
7.9
BearishBullish
Analyzes
put/call ratios
, open interest skew
, and flow direction to determine market bias.Risk ChecksVery Bullish - Strong signal (Conviction: +41%, Raw: +21%)
Flow Direction
|net sentiment| ≥25%Conviction-weighted: +41% (strong bullish) — Raw: +21%
OI Skew Magnitude
≥15%|OI skew| 15.0% — call-heavy
Volume-OI Alignment
Same sign, |vol skew| ≥10%Vol skew +39.0%, OI skew +15.0% — aligned
Conviction Quality
≥2/3 conditions0-DTE 29%, far-OTM 15%, avg DTE 30
OI Momentum
|change| ≥3%OI change +0.0% (5d) — stable
Smart Money Flow
|weighted flow| ≥20%ITM: -17%, ATM: +38%, OTM: +22% — neutral (ITM/ATM divergent)
Sector Relative≤40% or ≥60%
Sector P/C percentile 24% — very bullish vs sector
Activity
Unusual activity?
3.8
QuietActive
Detects volume surges,
block trades
, and unusual options activity that may signal moves.Risk Checks2/9 checks passed
Volume Surge
≥1.5xVolume 0.4x avg — normal
Turnover Rate
≥15%Vol/OI 2.8% — 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 +6.1% (5d) — building
Sector Relative≥60%
Sector activity percentile 26% — below sector avg
Trade Quality
≥30%Large trade volume 28% — mixed
Execution Urgency
≥60%Aggressive execution 27% — patient
Flow Conviction
≥30Conviction +41 (bullish) — moderate
Liquidity
Can I trade efficiently?
3.3
IlliquidLiquid
Evaluates
bid-ask spreads
, volume depth, and open interest for trade execution quality.Risk Checks1/8 checks passed
Tradeable Spread
≤5.0%Spread 11.3% — wide
Adequate OI
≥10,000OI 12,774 — adequate
Active Volume
≥500Volume 354/day — thin
Reasonable Cost
≤$0.50$0.57 to cross — expensive
Strike Coverage
≥5 strikes1 liquid strikes — limited options
Sector Relative≤40%
Sector spread percentile 94% — much wider than sector
Order Book Depth
≥100 contractsDepth 60.699999999999996 contracts (bid:27.9 ask:32.8) — thin
Execution Quality
<1.0%Avg slippage 15.47% — poor
Timing
Is now a good time?
7.2
RiskyFavorable
Considers earnings proximity,
time decay
, and event calendar for optimal entry timing.Risk Checks7/9 checks passed
Term Structure Clarity
|slope| ≥5%Slope +0.7% — flat/unclear
IV Percentile Clarity
<30 or >70IV percentile 82% — seller opportunity
Event Detection
≥10pts kinkIV kink 0.2pts — no clear event
Theta/Vega Clarity
<0.5 or >2.0θ/ν ratio 947.39 — 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 +41% @ 70% consistency — STRONG directional (bullish)
Smart Money Timing
≥40 composite scoreScore 58 (ITM 20% + inst 28%) — moderate institutional
Directional Strategy Fit
Option Buyers
Long Calls6.1
bullishIV fair, bullish flow
Long Puts4.0
bearishIV fair, bullish flow
Premium Sellers
Cash-Secured Put5.7
bullishIV fair, bullish flow
Covered Call4.0
bearishIV fair, bullish flow
For educational purposes only. Not investment advice.