Options/FXI

FXIiShares China Large-Cap ETF

Options Analysis Report

AUM $4.2B|ARCX

● 2026-08-28$35.24

NEUTRAL

Analysis: 2026-08-27 EOD data

1Y -8.6%YTD -11.5%7D -1.7%

Options Vol

60,261

30D

Implied Move

±5.4%

IV Rank

FXI Options Overview

IV is low. No clear edge detected.

REWARDS

RISK ANALYSIS

Snowflake Analysis

Balanced conditions with no clear edge

Learn

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FXI Gamma Walls

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FXI Hedge Radar

Neutral

Full Hedge Radar

Neither score is at an extreme today. Neither axis is a forecast — this is where FXI sits on protection cost vs. fragility today.

Protection is priced in the cheap band (2.84) — near-dated vol is priced 19% below far-dated, and implied vol sits in the 2th percentile of its own past year, measured against this name's own rolling 20-trading-day realized moves (484 overlapping windows). Fragility reads neutral (5.54): it is trading 2% below its hedge wall on a wall graded HIGH for reliability, and its realized-vol regime is stable.

Protection cost

2.84/ 10cheap

Basis: cross_sectional

Fragility

5.54/ 10neutral

Basis: per_ticker

Value

Is IV priced right?

6.9

ExpensiveCheap

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

levels.

Risk Checks6/9 checks passed

IV Rank

≤35%

IV Rank 24.4% — cheap vs history

IV/HV Ratio

<1.05x

IV/HV 1.56x — IV premium over HV

Sector Relative≤50%

Sector percentile 42% — below sector median

Term Structure

<1.1x

Front/Back 0.81x — contango

Skew Normal

<1.25x

Put/Call IV 1.16x — elevated

Absolute IV

<80%

ATM IV 21.5% — normal range

Spread-Adjusted Value

<80%

Effective IV 49.0% (ATM 21.5% + spread 13.8% + bias) — excellent value

Execution Efficiency

<3.0%

Total drag 22.72% (spread 13.76% + slippage 8.96%) — high friction

Vega Efficiency

≥5.0

Vega efficiency 2.45 (vega 3.373 / spread 13.76%) — spread drag

Sentiment

Bullish or bearish?

4.5

BearishBullish

Analyzes

put/call ratios

open interest skew

, and flow direction to determine market bias.

Risk ChecksBearish - Moderate signal (Conviction: -14%, Raw: +6%)

Flow Direction

|net sentiment| ≥25%

Conviction-weighted: -14% (bearish) — Raw: +6%

OI Skew Magnitude

≥15%

|OI skew| 2.1% — balanced

Volume-OI Alignment

Same sign, |vol skew| ≥10%

Vol skew -6.6%, OI skew +2.1% — divergent (opposite)

Conviction Quality

≥2/3 conditions

0-DTE 17%, far-OTM 15%, avg DTE 30

OI Momentum

|change| ≥3%

OI change +0.0% (5d) — stable

Smart Money Flow

|weighted flow| ≥20%

ITM: -64%, ATM: -28%, OTM: +41% — strong bearish (ITM/ATM aligned)

Sector Relative≤40% or ≥60%

Sector P/C percentile 89% — very bearish vs sector

Activity

Unusual activity?

3.4

QuietActive

Detects volume surges,

block trades

, and unusual options activity that may signal moves.

Risk Checks1/8 checks passed

Volume Surge

≥1.5x

Volume 0.8x avg — normal

Turnover Rate

≥15%

Vol/OI 1.8% — normal turnover

Multi-Day Persistence

≥2 days

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

OI Build

≥5%

OI change -11.7% (5d) — unwinding

Sector Relative≥60%

Sector activity percentile 40% — neutral vs sector

Trade Quality

≥30%

Large trade volume 80% — heavy institutional

Execution Urgency

≥60%

Aggressive execution 53% — patient

Flow Conviction

≥30

Conviction -14 (bearish) — mixed

Liquidity

Can I trade efficiently?

4.4

IlliquidLiquid

Evaluates

bid-ask spreads

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

Risk Checks3/8 checks passed

Tradeable Spread

≤5.0%

Spread 13.8% — wide

Adequate OI

≥10,000

OI 3,438,474 — deep

Active Volume

≥500

Volume 60,261/day — active

Reasonable Cost

≤$0.50

$0.69 to cross — expensive

Strike Coverage

≥5 strikes

0 liquid strikes — limited options

Sector Relative≤40%

Sector spread percentile 56% — neutral vs sector

Order Book Depth

≥100 contracts

Depth 1,084.3000000000002 contracts (bid:572.7 ask:511.6) — deep

Execution Quality

<1.0%

Avg slippage 8.96% — poor

Timing

Is now a good time?

7.1

RiskyFavorable

Considers earnings proximity,

time decay

, and event calendar for optimal entry timing.

Risk Checks7/9 checks passed

Term Structure Clarity

|slope| ≥5%

Slope -19.4% — contango

IV Percentile Clarity

<30 or >70

IV percentile 24% — buyer opportunity

Event Detection

≥10pts kink

IV kink -2.3pts — no clear event

Theta/Vega Clarity

<0.5 or >2.0

θ/ν ratio 216.20 — favors income trades

Expiration Distribution

≥3 expirations

5 liquid expirations — flexible

Event Risk

≥60% (safe)

safe window: No earnings detected

Spread Momentum

<1.2 ratio

Spread ratio 1.00x — stable

Flow Momentum

≥25% strength + ≥50% consistency

Flow -14% @ 57% consistency — unclear

Smart Money Timing

≥40 composite score

Score 110 (ITM 20% + inst 80%) — HIGH institutional

Directional Strategy Fit

Option Buyers

Long Calls5.7

bullishIV cheap, mixed flow

Long Puts6.1

bearishIV cheap, mixed flow

Premium Sellers

Cash-Secured Put4.4

bullishIV too cheap, mixed flow

Covered Call4.8

bearishIV too cheap, mixed flow

For educational purposes only. Not investment advice.