FDXFedEx Corporation
Options Analysis Report•AIR COURIER SERVICES
Market Cap $93.6B|NYSE
● 2026-04-17$392.38
BULLISH
Analysis: 2026-04-16 EOD data
1Y +91.3%YTD +33.9%7D +4.9%
Options Vol
13,278
30D
Implied Move
±8.7%
IV Rank
16%
FDX Options Overview
IV is low with bullish flow. Conditions favor option buyers.
REWARDS
RISK ANALYSIS
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Value
Is IV priced right?
8.3
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 29.7% — cheap vs history
IV/HV Ratio
<1.05xIV/HV 1.00x — IV ≤ HV
Sector Relative≤50%
Sector percentile 21% — below sector median
Term Structure
<1.1xFront/Back 0.91x — contango
Skew Normal
<1.25xPut/Call IV 1.16x — elevated
Absolute IV
<80%ATM IV 31.0% — normal range
Spread-Adjusted Value
<80%Effective IV 53.0% (ATM 31.0% + spread 11.0% + bias) — good value
Execution Efficiency
<3.0%Total drag 17.54% (spread 10.99% + slippage 6.55%) — high friction
Vega Efficiency
≥5.0Vega efficiency 7.15 (vega 7.862 / spread 10.99%) — efficient
Sentiment
Bullish or bearish?
6.1
BearishBullish
Analyzes
put/call ratios
, open interest skew
, and flow direction to determine market bias.Risk ChecksBullish - Moderate signal (Conviction: +14%, Raw: +11%)
Flow Direction
|net sentiment| ≥25%Conviction-weighted: +14% (bullish) — Raw: +11%
OI Skew Magnitude
≥15%|OI skew| 17.5% — put-heavy
Volume-OI Alignment
Same sign, |vol skew| ≥10%Vol skew +67.3%, OI skew -17.5% — divergent (opposite)
Conviction Quality
≥2/3 conditions0-DTE 78%, far-OTM 15%, avg DTE 30
OI Momentum
|change| ≥3%OI change +0.0% (5d) — stable
Smart Money Flow
|weighted flow| ≥20%ITM: +3%, ATM: +12%, OTM: +11% — neutral (ITM/ATM aligned)
Sector Relative≤40% or ≥60%
Sector P/C percentile 13% — very bullish vs sector
Activity
Unusual activity?
5.3
QuietActive
Detects volume surges,
block trades
, and unusual options activity that may signal moves.Risk Checks2/9 checks passed
Volume Surge
≥1.5xVolume 1.2x avg — normal
Turnover Rate
≥15%Vol/OI 13.1% — 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 +5.6% (5d) — building
Sector Relative≥60%
Sector activity percentile 92% — very active vs sector
Trade Quality
≥30%Large trade volume 22% — mixed
Execution Urgency
≥60%Aggressive execution 46% — patient
Flow Conviction
≥30Conviction +14 (bullish) — mixed
Liquidity
Can I trade efficiently?
4.7
IlliquidLiquid
Evaluates
bid-ask spreads
, volume depth, and open interest for trade execution quality.Risk Checks3/8 checks passed
Tradeable Spread
≤5.0%Spread 11.0% — wide
Adequate OI
≥10,000OI 101,285 — deep
Active Volume
≥500Volume 13,278/day — active
Reasonable Cost
≤$0.50$0.55 to cross — expensive
Strike Coverage
≥5 strikes0 liquid strikes — limited options
Sector Relative≤40%
Sector spread percentile 24% — tighter than sector
Order Book Depth
≥100 contractsDepth 88.30000000000001 contracts (bid:45.6 ask:42.7) — thin
Execution Quality
<1.0%Avg slippage 6.55% — poor
Timing
Is now a good time?
6.7
RiskyFavorable
Considers earnings proximity,
time decay
, and event calendar for optimal entry timing.Risk Checks7/9 checks passed
Term Structure Clarity
|slope| ≥5%Slope -9.1% — contango
IV Percentile Clarity
<30 or >70IV percentile 30% — buyer opportunity
Event Detection
≥10pts kinkIV kink -1.5pts — no clear event
Theta/Vega Clarity
<0.5 or >2.0θ/ν ratio 6.12 — favors income trades
Expiration Distribution
≥3 expirations5 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 +14% @ 57% consistency — unclear
Smart Money Timing
≥40 composite scoreScore 52 (ITM 20% + inst 22%) — moderate institutional
Directional Strategy Fit
Option Buyers
Long Calls7.1
bullishIV cheap, bullish flow
Long Puts6.0
bearishIV cheap, bullish flow
Premium Sellers
Cash-Secured Put4.6
bullishIV too cheap, bullish flow
Covered Call3.8
bearishIV too cheap, bullish flow
For educational purposes only. Not investment advice.