GRMNGarmin Ltd
Options Analysis Report•SEARCH, DETECTION, NAVIGATION, GUIDANCE, AERONAUTICAL SYS
Market Cap $51.5B|NYSE
● 2026-04-17$267.42
NEUTRAL
Analysis: 2026-04-16 EOD data
1Y +43.1%YTD +32.1%7D +4.1%
Options Vol
794
30D
Implied Move
±12.1%
IV Rank
30%
GRMN Options Overview
Mixed signals. No clear edge detected.
REWARDS
RISK ANALYSIS
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Value
Is IV priced right?
6.0
ExpensiveCheap
Measures whether options are cheap, fair, or rich relative to historical and peer
IV
levels.Risk Checks4/9 checks passed
IV Rank
≤35%IV Rank 50.1% — elevated vs history
IV/HV Ratio
<1.05xIV/HV 1.15x — IV premium over HV
Sector Relative≤50%
Sector percentile 14% — below sector median
Term Structure
<1.1xFront/Back 1.25x — backwardation
Skew Normal
<1.25xPut/Call IV 1.16x — elevated
Absolute IV
<80%ATM IV 36.3% — normal range
Spread-Adjusted Value
<80%Effective IV 63.9% (ATM 36.3% + spread 13.8% + bias) — good value
Execution Efficiency
<3.0%Total drag 25.57% (spread 13.82% + slippage 11.75%) — high friction
Vega Efficiency
≥5.0Vega efficiency 3.15 (vega 4.355 / spread 13.82%) — spread drag
Sentiment
Bullish or bearish?
4.5
BearishBullish
Analyzes
put/call ratios
, open interest skew
, and flow direction to determine market bias.Risk ChecksNeutral - Weak signal (Conviction: -3%, Raw: -20%)
Flow Direction
|net sentiment| ≥25%Conviction-weighted: -3% (neutral) — Raw: -20%
OI Skew Magnitude
≥15%|OI skew| 21.8% — call-heavy
Volume-OI Alignment
Same sign, |vol skew| ≥10%Vol skew -16.9%, OI skew +21.8% — divergent (opposite)
Conviction Quality
≥2/3 conditions0-DTE 85%, far-OTM 15%, avg DTE 30
OI Momentum
|change| ≥3%OI change +0.0% (5d) — stable
Smart Money Flow
|weighted flow| ≥20%ITM: +33%, ATM: -38%, OTM: +10% — neutral (ITM/ATM divergent)
Sector Relative≤40% or ≥60%
Sector P/C percentile 85% — very bearish vs sector
Activity
Unusual activity?
3.3
QuietActive
Detects volume surges,
block trades
, and unusual options activity that may signal moves.Risk Checks1/9 checks passed
Volume Surge
≥1.5xVolume 0.7x avg — normal
Turnover Rate
≥15%Vol/OI 6.2% — 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 +10.9% (5d) — building
Sector Relative≥60%
Sector activity percentile 46% — neutral vs sector
Trade Quality
≥30%Large trade volume 0% — mostly retail
Execution Urgency
≥60%Aggressive execution 23% — patient
Flow Conviction
≥30Conviction -3 (bearish) — mixed
Liquidity
Can I trade efficiently?
3.6
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
≥10,000OI 12,823 — adequate
Active Volume
≥500Volume 794/day — adequate
Reasonable Cost
≤$0.50$0.69 to cross — expensive
Strike Coverage
≥5 strikes1 liquid strikes — limited options
Sector Relative≤40%
Sector spread percentile 16% — much tighter than sector
Order Book Depth
≥100 contractsDepth 34.6 contracts (bid:21.6 ask:13.0) — thin
Execution Quality
<1.0%Avg slippage 11.75% — poor
Timing
Is now a good time?
7.1
RiskyFavorable
Considers earnings proximity,
time decay
, and event calendar for optimal entry timing.Risk Checks5/9 checks passed
Term Structure Clarity
|slope| ≥5%Slope +24.9% — backwardation
IV Percentile Clarity
<30 or >70IV percentile 50% — neutral
Event Detection
≥10pts kinkIV kink 8.6pts — no clear event
Theta/Vega Clarity
<0.5 or >2.0θ/ν ratio 4.15 — favors income trades
Expiration Distribution
≥3 expirations3 liquid expirations — flexible
Event Risk
≥60% (safe)acceptable: Earnings in 12d
Spread Momentum
<1.2 ratioSpread ratio 1.00x — stable
Flow Momentum
≥25% strength + ≥50% consistencyFlow -3% @ 52% consistency — unclear
Smart Money Timing
≥40 composite scoreScore 30 (ITM 20% + inst 0%) — retail dominated
Directional Strategy Fit
Option Buyers
Long Calls5.3
bullishIV cheap, mixed flow
Long Puts5.6
bearishIV cheap, mixed flow
Premium Sellers
Cash-Secured Put4.6
bullishIV too cheap, mixed flow
Covered Call4.9
bearishIV too cheap, mixed flow
For educational purposes only. Not investment advice.