GLWCorning Incorporated
Options Analysis Report•DRAWING & INSULATING OF NONFERROUS WIRE
Market Cap $141.2B|NYSE
● 2026-04-17$164.38
NEUTRAL
Analysis: 2026-04-16 EOD data
1Y +303.9%YTD +81.3%7D -4.0%
Options Vol
32,967
30D
Implied Move
±23.1%
IV Rank
93%
GLW Options Overview
IV is elevated. Conditions favor premium sellers.
REWARDS
RISK ANALYSIS
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Value
Is IV priced right?
3.5
ExpensiveCheap
Measures whether options are cheap, fair, or rich relative to historical and peer
IV
levels.Risk Checks5/9 checks passed
IV Rank
≤35%IV Rank 96.8% — elevated vs history
IV/HV Ratio
<1.05xIV/HV 0.94x — IV ≤ HV
Sector Relative≤50%
Sector percentile 87% — above sector median
Term Structure
<1.1xFront/Back 0.98x — contango
Skew Normal
<1.25xPut/Call IV 1.16x — elevated
Absolute IV
<80%ATM IV 70.7% — normal range
Spread-Adjusted Value
<80%Effective IV 90.4% (ATM 70.7% + spread 9.9% + bias) — expensive
Execution Efficiency
<3.0%Total drag 16.47% (spread 9.86% + slippage 6.61%) — high friction
Vega Efficiency
≥5.0Vega efficiency 49.56 (vega 48.868 / spread 9.86%) — efficient
Sentiment
Bullish or bearish?
5.2
BearishBullish
Analyzes
put/call ratios
, open interest skew
, and flow direction to determine market bias.Risk ChecksBearish - Strong signal (Conviction: -17%, Raw: -10%)
Flow Direction
|net sentiment| ≥25%Conviction-weighted: -17% (bearish) — Raw: -10%
OI Skew Magnitude
≥15%|OI skew| 14.6% — balanced
Volume-OI Alignment
Same sign, |vol skew| ≥10%Vol skew +9.4%, OI skew +14.6% — weak (same direction)
Conviction Quality
≥2/3 conditions0-DTE 36%, far-OTM 15%, avg DTE 30
OI Momentum
|change| ≥3%OI change +0.0% (5d) — stable
Smart Money Flow
|weighted flow| ≥20%ITM: -8%, ATM: -14%, OTM: -9% — bearish (ITM/ATM aligned)
Sector Relative≤40% or ≥60%
Sector P/C percentile 67% — bearish vs sector
Activity
Unusual activity?
4.1
QuietActive
Detects volume surges,
block trades
, and unusual options activity that may signal moves.Risk Checks2/9 checks passed
Volume Surge
≥1.5xVolume 0.8x avg — normal
Turnover Rate
≥15%Vol/OI 8.7% — 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 +8.8% (5d) — building
Sector Relative≥60%
Sector activity percentile 64% — active vs sector
Trade Quality
≥30%Large trade volume 16% — mixed
Execution Urgency
≥60%Aggressive execution 25% — patient
Flow Conviction
≥30Conviction -17 (bearish) — mixed
Liquidity
Can I trade efficiently?
5.1
IlliquidLiquid
Evaluates
bid-ask spreads
, volume depth, and open interest for trade execution quality.Risk Checks5/8 checks passed
Tradeable Spread
≤5.0%Spread 9.9% — wide
Adequate OI
≥10,000OI 379,761 — deep
Active Volume
≥500Volume 32,967/day — active
Reasonable Cost
≤$0.50$0.49 to cross — cheap
Strike Coverage
≥5 strikes5 liquid strikes — good coverage
Sector Relative≤40%
Sector spread percentile 87% — much wider than sector
Order Book Depth
≥100 contractsDepth 305.6 contracts (bid:126.2 ask:179.4) — adequate
Execution Quality
<1.0%Avg slippage 6.61% — poor
Timing
Is now a good time?
7.3
RiskyFavorable
Considers earnings proximity,
time decay
, and event calendar for optimal entry timing.Risk Checks6/9 checks passed
Term Structure Clarity
|slope| ≥5%Slope -1.7% — flat/unclear
IV Percentile Clarity
<30 or >70IV percentile 97% — seller opportunity
Event Detection
≥10pts kinkIV kink -7.7pts — no clear event
Theta/Vega Clarity
<0.5 or >2.0θ/ν ratio 620.94 — favors income trades
Expiration Distribution
≥3 expirations5 liquid expirations — flexible
Event Risk
≥60% (safe)acceptable: Earnings in 11d
Spread Momentum
<1.2 ratioSpread ratio 1.00x — stable
Flow Momentum
≥25% strength + ≥50% consistencyFlow -17% @ 59% consistency — unclear
Smart Money Timing
≥40 composite scoreScore 46 (ITM 20% + inst 16%) — moderate institutional
Directional Strategy Fit
Option Buyers
Long Calls4.9
bullishIV expensive, mixed flow
Long Puts4.8
bearishIV expensive, mixed flow
Premium Sellers
Cash-Secured Put5.9
bullishIV rich premium, mixed flow
Covered Call5.8
bearishIV rich premium, mixed flow
For educational purposes only. Not investment advice.