FUNSix Flags Entertainment Corporation
Options Analysis Report•SERVICES-AMUSEMENT & RECREATION SERVICES
Market Cap $2.1B|NYSE
● 2026-05-15$20.08
BULLISH
Analysis: 2026-05-14 EOD data
1Y -45.3%YTD +29.6%7D -8.8%
Options Vol
284
30D
Implied Move
±8.6%
IV Rank
53%
FUN Options Overview
IV is elevated with bullish flow. Conditions favor premium sellers.
REWARDS
RISK ANALYSIS
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Value
Is IV priced right?
3.9
ExpensiveCheap
Measures whether options are cheap, fair, or rich relative to historical and peer
IV
levels.Risk Checks4/9 checks passed
IV Rank
≤35%IV Rank 82.4% — elevated vs history
IV/HV Ratio
<1.05xIV/HV 0.87x — IV ≤ HV
Sector Relative≤50%
Sector percentile 88% — above sector median
Term Structure
<1.1xFront/Back 0.93x — contango
Skew Normal
<1.25xPut/Call IV 1.16x — elevated
Absolute IV
<80%ATM IV 74.9% — normal range
Spread-Adjusted Value
<80%Effective IV 144.3% (ATM 74.9% + spread 34.7% + bias) — expensive
Execution Efficiency
<3.0%Total drag 44.12% (spread 34.70% + slippage 9.42%) — high friction
Vega Efficiency
≥5.0Vega efficiency 1.32 (vega 4.582 / spread 34.70%) — spread drag
Sentiment
Bullish or bearish?
6.6
BearishBullish
Analyzes
put/call ratios
, open interest skew
, and flow direction to determine market bias.Risk ChecksBullish - Moderate signal (Conviction: +12%, Raw: -2%)
Flow Direction
|net sentiment| ≥25%Conviction-weighted: +12% (bullish) — Raw: -2%
OI Skew Magnitude
≥15%|OI skew| 3.5% — balanced
Volume-OI Alignment
Same sign, |vol skew| ≥10%Vol skew +68.3%, OI skew +3.5% — aligned
Conviction Quality
≥2/3 conditions0-DTE 23%, far-OTM 15%, avg DTE 30
OI Momentum
|change| ≥3%OI change +0.0% (5d) — stable
Smart Money Flow
|weighted flow| ≥20%ITM: +71%, ATM: +74%, OTM: -31% — strong bullish (ITM/ATM aligned)
Sector Relative≤40% or ≥60%
Sector P/C percentile 26% — very bullish vs sector
Activity
Unusual activity?
1.9
QuietActive
Detects volume surges,
block trades
, and unusual options activity that may signal moves.Risk Checks0/9 checks passed
Volume Surge
≥1.5xVolume 0.2x avg — normal
Turnover Rate
≥15%Vol/OI 0.5% — 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 +2.1% (5d) — building
Sector Relative≥60%
Sector activity percentile 20% — quiet vs sector
Trade Quality
≥30%Large trade volume 0% — mostly retail
Execution Urgency
≥60%Aggressive execution 29% — patient
Flow Conviction
≥30Conviction +12 (bullish) — mixed
Liquidity
Can I trade efficiently?
2.8
IlliquidLiquid
Evaluates
bid-ask spreads
, volume depth, and open interest for trade execution quality.Risk Checks2/8 checks passed
Tradeable Spread
≤5.0%Spread 34.7% — wide
Adequate OI
≥10,000OI 51,354 — deep
Active Volume
≥500Volume 284/day — thin
Reasonable Cost
≤$0.50$1.74 to cross — expensive
Strike Coverage
≥5 strikes0 liquid strikes — limited options
Sector Relative≤40%
Sector spread percentile 94% — much wider than sector
Order Book Depth
≥100 contractsDepth 289.9 contracts (bid:179.0 ask:110.9) — adequate
Execution Quality
<1.0%Avg slippage 9.42% — poor
Timing
Is now a good time?
7.1
RiskyFavorable
Considers earnings proximity,
time decay
, and event calendar for optimal entry timing.Risk Checks6/9 checks passed
Term Structure Clarity
|slope| ≥5%Slope -6.8% — contango
IV Percentile Clarity
<30 or >70IV percentile 82% — seller opportunity
Event Detection
≥10pts kinkIV kink -4.3pts — no clear event
Theta/Vega Clarity
<0.5 or >2.0θ/ν ratio 339.44 — favors income trades
Expiration Distribution
≥3 expirations3 liquid expirations — flexible
Event Risk
≥60% (safe)safe window: No earnings detected
Spread Momentum
<1.2 ratioSpread ratio 1.00x — stable
Flow Momentum
≥25% strength + ≥50% consistencyFlow +12% @ 56% consistency — unclear
Smart Money Timing
≥40 composite scoreScore 30 (ITM 20% + inst 0%) — retail dominated
Directional Strategy Fit
Option Buyers
Long Calls5.2
bullishIV expensive, bullish flow
Long Puts4.0
bearishIV expensive, bullish flow
Premium Sellers
Cash-Secured Put5.9
bullishIV rich premium, bullish flow
Covered Call4.6
bearishIV rich premium, bullish flow
For educational purposes only. Not investment advice.