Mixed signals. Conditions favor premium sellers.
Is IV priced right?
Measures whether options are cheap, fair, or rich relative to historical and peer
IV Rank 53.0% — elevated vs history
IV/HV 0.91x — IV ≤ HV
Sector percentile 65% — above sector median
Front/Back 0.90x — contango
Put/Call IV 1.16x — elevated
ATM IV 45.0% — normal range
Effective IV 57.0% (ATM 45.0% + spread 6.0% + bias) — good value
Total drag 9.83% (spread 6.00% + slippage 3.83%) — high friction
Vega efficiency 12.34 (vega 7.407 / spread 6.00%) — efficient
Bullish or bearish?
Analyzes
Conviction-weighted: -38% (strong bearish) — Raw: -32%
|OI skew| 3.1% — balanced
Vol skew +35.5%, OI skew -3.1% — divergent (opposite)
0-DTE 38%, far-OTM 15%, avg DTE 30
OI change +0.0% (5d) — stable
ITM: +19%, ATM: -0%, OTM: -38% — bullish (ITM/ATM divergent)
Sector P/C percentile 24% — very bullish vs sector
Unusual activity?
Detects volume surges,
Volume 1.3x avg — normal
Vol/OI 6.8% — normal turnover
Top 3 strikes = 50% — dispersed
1 day(s) elevated — may be one-day event
OI change +6.2% (5d) — building
Sector activity percentile 73% — active vs sector
Large trade volume 69% — heavy institutional
Aggressive execution 38% — patient
Conviction -38 (bearish) — moderate
Can I trade efficiently?
Evaluates
Spread 6.0% — wide
OI 2,088,884 — deep
Volume 142,118/day — active
$0.30 to cross — cheap
0 liquid strikes — limited options
Sector spread percentile 71% — wider than sector
Depth 305.0 contracts (bid:137.8 ask:167.2) — adequate
Avg slippage 3.83% — poor
Is now a good time?
Considers earnings proximity,
Slope -10.0% — contango
IV percentile 53% — neutral
IV kink -4.8pts — no clear event
θ/ν ratio 61.01 — favors income trades
5 liquid expirations — flexible
safe window: No earnings detected
Spread ratio 1.00x — stable
Flow -38% @ 69% consistency — moderate (bearish)
Score 99 (ITM 20% + inst 69%) — HIGH institutional
For educational purposes only. Not investment advice.