AInvestOption Pilot Program
Options/FTXL
F

FTXLFirst Trust Nasdaq Semiconductor ETF

Options Analysis Report
AUM $1.2B|NASDAQ
● 2026-08-31$220.23
VERY BULLISH
Analysis: 2026-08-28 EOD data
1Y +126.1%YTD +61.9%7D +0.3%
62
30D
±10.8%
16%

FTXL Options Overview

bullish flow. No clear edge detected.

REWARDS

RISK ANALYSIS

5.9VALUESENTIMENTACTIVITYLIQUIDITYTIMING

Snowflake Analysis

Balanced conditions with no clear edge

Learn
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FTXL Gamma Walls

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Value

Is IV priced right?

5.3
ExpensiveCheap

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

levels.

Risk Checks5/9 checks passed
≤35%

IV Rank 66.5% — elevated vs history

<1.05x

IV/HV 0.96x — IV ≤ HV

Sector Relative≤50%

Sector percentile 81% — above sector median

<1.1x

Front/Back 0.84x — contango

<1.25x

Put/Call IV 1.16x — elevated

<80%

ATM IV 42.2% — normal range

<80%

Effective IV 99.5% (ATM 42.2% + spread 28.7% + bias) — expensive

<3.0%

Total drag 39.47% (spread 28.67% + slippage 10.80%) — high friction

≥5.0

Vega efficiency 11.15 (vega 31.976 / spread 28.67%) — efficient

Sentiment

Bullish or bearish?

9.8
BearishBullish

Analyzes

,
, and flow direction to determine market bias.

Risk ChecksVery Bullish - Strong signal (Conviction: +93%, Raw: +94%)
|net sentiment| ≥25%

Conviction-weighted: +93% (strong bullish) — Raw: +94%

≥15%

|OI skew| 73.3% — call-heavy

Same sign, |vol skew| ≥10%

Vol skew +96.8%, OI skew +73.3% — 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: +0%, ATM: +100%, OTM: +93% — strong bullish (ITM/ATM divergent)

Sector Relative≤40% or ≥60%

Sector P/C percentile 1% — very bullish vs sector

Activity

Unusual activity?

5.1
QuietActive

Detects volume surges,

, and unusual options activity that may signal moves.

Risk Checks3/8 checks passed
≥1.5x

Volume 1.1x avg — normal

≥15%

Vol/OI 6.3% — normal turnover

≥2 days

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

≥5%

OI change +3.6% (5d) — building

Sector Relative≥60%

Sector activity percentile 75% — active vs sector

≥30%

Large trade volume 0% — mostly retail

≥60%

Aggressive execution 65% — urgent

≥30

Conviction +93 (bullish) — strong conviction

Liquidity

Can I trade efficiently?

2.1
IlliquidLiquid

Evaluates

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

Risk Checks0/8 checks passed
≤5.0%

Spread 28.7% — wide

≥10,000

OI 982 — thin

≥500

Volume 62/day — thin

≤$0.50

$1.43 to cross — expensive

≥5 strikes

0 liquid strikes — limited options

Sector Relative≤40%

Sector spread percentile 86% — much wider than sector

≥100 contracts

Depth 12.5 contracts (bid:4.0 ask:8.5) — thin

<1.0%

Avg slippage 10.80% — poor

Timing

Is now a good time?

7.3
RiskyFavorable

Considers earnings proximity,

, and event calendar for optimal entry timing.

Risk Checks6/9 checks passed
|slope| ≥5%

Slope -16.4% — contango

<30 or >70

IV percentile 66% — neutral

≥10pts kink

IV kink -5.1pts — no clear event

<0.5 or >2.0

θ/ν ratio 225.66 — favors income trades

≥3 expirations

3 liquid expirations — flexible

≥60% (safe)

safe window: No earnings detected

<1.2 ratio

Spread ratio 1.00x — stable

≥25% strength + ≥50% consistency

Flow +93% @ 95% consistency — STRONG directional (bullish)

≥40 composite score

Score 30 (ITM 20% + inst 0%) — retail dominated

Directional Strategy Fit

Option Buyers
Long Calls7.7
bullishIV fair, bullish flow
Long Puts3.4
bearishIV fair, bullish flow
Premium Sellers
Cash-Secured Put6.3
bullishIV fair, bullish flow
Covered Call3.0
bearishIV fair, bullish 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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