unusual activity. No clear edge detected.
Is IV priced right?
Measures whether options are cheap, fair, or rich relative to historical and peer
IV Rank 64.9% — elevated vs history
IV/HV 1.16x — IV premium over HV
Sector percentile 79% — above sector median
Front/Back 1.06x — backwardation
Put/Call IV 1.16x — elevated
ATM IV 48.1% — normal range
Effective IV 72.9% (ATM 48.1% + spread 12.4% + bias) — fair
Total drag 18.93% (spread 12.41% + slippage 6.52%) — high friction
Vega efficiency 11.15 (vega 13.838 / spread 12.41%) — efficient
Bullish or bearish?
Analyzes
Conviction-weighted: -14% (bearish) — Raw: -10%
|OI skew| 49.5% — call-heavy
Vol skew +34.6%, OI skew +49.5% — aligned
0-DTE 0%, far-OTM 15%, avg DTE 30
OI change +0.0% (5d) — stable
ITM: +13%, ATM: -38%, OTM: -2% — neutral (ITM/ATM divergent)
Sector P/C percentile 20% — very bullish vs sector
Unusual activity?
Detects volume surges,
Volume 1.0x avg — normal
Vol/OI 5.2% — normal turnover
Top 3 strikes = 50% — dispersed
1 day(s) elevated — may be one-day event
OI change +4.3% (5d) — building
Sector activity percentile 76% — active vs sector
Large trade volume 32% — institutional presence
Aggressive execution 24% — patient
Conviction -14 (bearish) — mixed
Can I trade efficiently?
Evaluates
Spread 12.4% — wide
OI 64,830 — deep
Volume 3,403/day — adequate
$0.62 to cross — expensive
0 liquid strikes — limited options
Sector spread percentile 82% — much wider than sector
Depth 452.1 contracts (bid:218.9 ask:233.2) — adequate
Avg slippage 6.52% — poor
Is now a good time?
Considers earnings proximity,
Slope +5.8% — backwardation
IV percentile 65% — neutral
IV kink 3.4pts — no clear event
θ/ν ratio 681.68 — favors income trades
4 liquid expirations — flexible
caution advised: No earnings detected; CPI in 1d (HIGH)
Spread ratio 1.00x — stable
Flow -14% @ 57% consistency — unclear
Score 62 (ITM 20% + inst 32%) — HIGH institutional
For educational purposes only. Not investment advice.