Mixed signals. No clear edge detected.
Is IV priced right?
Measures whether options are cheap, fair, or rich relative to historical and peer
IV Rank 66.5% — elevated vs history
IV/HV 0.79x — IV ≤ HV
Sector percentile 78% — above sector median
Front/Back 1.02x — flat
Put/Call IV 1.16x — elevated
ATM IV 54.7% — normal range
Effective IV 78.3% (ATM 54.7% + spread 11.8% + bias) — fair
Total drag 14.25% (spread 11.82% + slippage 2.43%) — high friction
Vega efficiency 2.65 (vega 3.128 / spread 11.82%) — spread drag
Bullish or bearish?
Analyzes
Conviction-weighted: -43% (strong bearish) — Raw: -40%
|OI skew| 69.1% — call-heavy
Vol skew +43.7%, OI skew +69.1% — aligned
0-DTE 14%, far-OTM 15%, avg DTE 30
OI change +0.0% (5d) — stable
ITM: -16%, ATM: +9%, OTM: -65% — neutral (ITM/ATM divergent)
Sector P/C percentile 20% — very bullish vs sector
Unusual activity?
Detects volume surges,
Volume 0.3x avg — normal
Vol/OI 1.4% — normal turnover
Top 3 strikes = 50% — dispersed
1 day(s) elevated — may be one-day event
OI change +0.8% (5d) — stable
Sector activity percentile 30% — below sector avg
Large trade volume 31% — institutional presence
Aggressive execution 25% — patient
Conviction -43 (bearish) — moderate
Can I trade efficiently?
Evaluates
Spread 11.8% — wide
OI 45,987 — adequate
Volume 650/day — adequate
$0.59 to cross — expensive
0 liquid strikes — limited options
Sector spread percentile 81% — much wider than sector
Depth 608.4 contracts (bid:452.3 ask:156.1) — deep
Avg slippage 2.43% — poor
Is now a good time?
Considers earnings proximity,
Slope +1.7% — flat/unclear
IV percentile 66% — neutral
IV kink 2.0pts — no clear event
θ/ν ratio 235.22 — favors income trades
3 liquid expirations — flexible
safe window: No earnings detected
Spread ratio 1.00x — stable
Flow -43% @ 72% consistency — STRONG directional (bearish)
Score 61 (ITM 20% + inst 31%) — HIGH institutional
For educational purposes only. Not investment advice.