HBANHuntington Bancshares Inc
Options Analysis Report•NATIONAL COMMERCIAL BANKS
Market Cap $34.3B|NASDAQ
● 2026-04-17$16.85
NEUTRAL
Analysis: 2026-04-16 EOD data
1Y +25.1%YTD -3.6%7D +2.9%
Options Vol
2,630
30D
Implied Move
±8.7%
IV Rank
19%
HBAN Options Overview
Mixed signals. No clear edge detected.
REWARDS
RISK ANALYSIS
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Value
Is IV priced right?
6.2
ExpensiveCheap
Measures whether options are cheap, fair, or rich relative to historical and peer
IV
levels.Risk Checks6/9 checks passed
IV Rank
≤35%IV Rank 50.0% — elevated vs history
IV/HV Ratio
<1.05xIV/HV 1.00x — IV ≤ HV
Sector Relative≤50%
Sector percentile 50% — below sector median
Term Structure
<1.1xFront/Back 1.04x — flat
Skew Normal
<1.25xPut/Call IV 1.00x — normal
Absolute IV
<80%ATM IV 0.0% — normal range
Spread-Adjusted Value
<80%Effective IV 29.5% (ATM 0.0% + spread 14.8% + bias) — excellent value
Execution Efficiency
<3.0%Total drag 20.58% (spread 14.76% + slippage 5.82%) — high friction
Vega Efficiency
≥5.0Vega efficiency 0.00 (vega 0.000 / spread 14.76%) — spread drag
Sentiment
Bullish or bearish?
4.3
BearishBullish
Analyzes
put/call ratios
, open interest skew
, and flow direction to determine market bias.Risk ChecksBearish - Moderate signal (Conviction: -17%, Raw: -4%)
Flow Direction
|net sentiment| ≥25%Conviction-weighted: -17% (bearish) — Raw: -4%
OI Skew Magnitude
≥15%|OI skew| 26.0% — call-heavy
Volume-OI Alignment
Same sign, |vol skew| ≥10%Vol skew -13.0%, OI skew +26.0% — divergent (opposite)
Conviction Quality
≥2/3 conditions0-DTE 38%, far-OTM 15%, avg DTE 30
OI Momentum
|change| ≥3%OI change +0.0% (5d) — stable
Smart Money Flow
|weighted flow| ≥20%ITM: -48%, ATM: +1%, OTM: +42% — strong bearish (ITM/ATM divergent)
Sector Relative≤40% or ≥60%
Sector P/C percentile 81% — very bearish vs sector
Activity
Unusual activity?
3.4
QuietActive
Detects volume surges,
block trades
, and unusual options activity that may signal moves.Risk Checks0/9 checks passed
Volume Surge
≥1.5xVolume 0.9x avg — normal
Turnover Rate
≥15%Vol/OI 2.9% — 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 +1.8% (5d) — stable
Sector Relative≥60%
Sector activity percentile 31% — below sector avg
Trade Quality
≥30%Large trade volume 27% — mixed
Execution Urgency
≥60%Aggressive execution 48% — patient
Flow Conviction
≥30Conviction -17 (bearish) — mixed
Liquidity
Can I trade efficiently?
3.8
IlliquidLiquid
Evaluates
bid-ask spreads
, volume depth, and open interest for trade execution quality.Risk Checks4/8 checks passed
Tradeable Spread
≤5.0%Spread 14.8% — wide
Adequate OI
≥10,000OI 90,530 — deep
Active Volume
≥500Volume 2,630/day — adequate
Reasonable Cost
≤$0.50$0.74 to cross — expensive
Strike Coverage
≥5 strikes1 liquid strikes — limited options
Sector Relative≤40%
Sector spread percentile 0% — much tighter than sector
Order Book Depth
≥100 contractsDepth 740.7 contracts (bid:365.4 ask:375.3) — deep
Execution Quality
<1.0%Avg slippage 5.82% — poor
Timing
Is now a good time?
5.6
RiskyFavorable
Considers earnings proximity,
time decay
, and event calendar for optimal entry timing.Risk Checks3/9 checks passed
Term Structure Clarity
|slope| ≥5%Slope +4.1% — flat/unclear
IV Percentile Clarity
<30 or >70IV percentile 50% — neutral
Event Detection
≥10pts kinkIV kink 2.0pts — no clear event
Theta/Vega Clarity
<0.5 or >2.0θ/ν ratio 1.00 — favors mixed
Expiration Distribution
≥3 expirations3 liquid expirations — flexible
Event Risk
≥60% (safe)caution advised: Earnings in 6d (elevated risk)
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 57 (ITM 20% + inst 27%) — moderate institutional
Directional Strategy Fit
Option Buyers
Long Calls5.1
bullishIV cheap, mixed flow
Long Puts5.6
bearishIV cheap, mixed flow
Premium Sellers
Cash-Secured Put4.3
bullishIV too cheap, mixed flow
Covered Call4.7
bearishIV too cheap, mixed flow
For educational purposes only. Not investment advice.