HCAHCA Healthcare, Inc.
Options Analysis Report•SERVICES-GENERAL MEDICAL & SURGICAL HOSPITALS, NEC
Market Cap $109.1B|NYSE
● 2026-04-17$488.00
NEUTRAL
Analysis: 2026-04-16 EOD data
1Y +53.6%YTD +3.7%7D -1.5%
Options Vol
479
30D
Implied Move
±11.2%
IV Rank
21%
HCA Options Overview
Mixed signals. No clear edge detected.
REWARDS
RISK ANALYSIS
Loading score history...
Value
Is IV priced right?
5.8
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 40.8% — elevated vs history
IV/HV Ratio
<1.05xIV/HV 1.47x — IV premium over HV
Sector Relative≤50%
Sector percentile 36% — below sector median
Term Structure
<1.1xFront/Back 1.23x — backwardation
Skew Normal
<1.25xPut/Call IV 1.16x — elevated
Absolute IV
<80%ATM IV 33.5% — normal range
Spread-Adjusted Value
<80%Effective IV 58.7% (ATM 33.5% + spread 12.6% + bias) — good value
Execution Efficiency
<3.0%Total drag 22.19% (spread 12.62% + slippage 9.57%) — high friction
Vega Efficiency
≥5.0Vega efficiency 75.45 (vega 95.219 / spread 12.62%) — efficient
Sentiment
Bullish or bearish?
4.5
BearishBullish
Analyzes
put/call ratios
, open interest skew
, and flow direction to determine market bias.Risk ChecksBearish - Weak signal (Conviction: -16%, Raw: -12%)
Flow Direction
|net sentiment| ≥25%Conviction-weighted: -16% (bearish) — Raw: -12%
OI Skew Magnitude
≥15%|OI skew| 2.7% — balanced
Volume-OI Alignment
Same sign, |vol skew| ≥10%Vol skew -7.3%, OI skew +2.7% — divergent (opposite)
Conviction Quality
≥2/3 conditions0-DTE 63%, far-OTM 15%, avg DTE 30
OI Momentum
|change| ≥3%OI change +0.0% (5d) — stable
Smart Money Flow
|weighted flow| ≥20%ITM: -10%, ATM: -16%, OTM: -10% — bearish (ITM/ATM aligned)
Sector Relative≤40% or ≥60%
Sector P/C percentile 59% — bearish vs sector
Activity
Unusual activity?
2.1
QuietActive
Detects volume surges,
block trades
, and unusual options activity that may signal moves.Risk Checks0/9 checks passed
Volume Surge
≥1.5xVolume 0.4x avg — normal
Turnover Rate
≥15%Vol/OI 1.6% — 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 +0.8% (5d) — stable
Sector Relative≥60%
Sector activity percentile 31% — below sector avg
Trade Quality
≥30%Large trade volume 0% — mostly retail
Execution Urgency
≥60%Aggressive execution 29% — patient
Flow Conviction
≥30Conviction -16 (bearish) — mixed
Liquidity
Can I trade efficiently?
3.7
IlliquidLiquid
Evaluates
bid-ask spreads
, volume depth, and open interest for trade execution quality.Risk Checks2/8 checks passed
Tradeable Spread
≤5.0%Spread 12.6% — wide
Adequate OI
≥10,000OI 29,869 — adequate
Active Volume
≥500Volume 479/day — thin
Reasonable Cost
≤$0.50$0.63 to cross — expensive
Strike Coverage
≥5 strikes0 liquid strikes — limited options
Sector Relative≤40%
Sector spread percentile 39% — tighter than sector
Order Book Depth
≥100 contractsDepth 47.5 contracts (bid:11.8 ask:35.7) — thin
Execution Quality
<1.0%Avg slippage 9.57% — poor
Timing
Is now a good time?
6.6
RiskyFavorable
Considers earnings proximity,
time decay
, and event calendar for optimal entry timing.Risk Checks4/9 checks passed
Term Structure Clarity
|slope| ≥5%Slope +22.7% — backwardation
IV Percentile Clarity
<30 or >70IV percentile 41% — neutral
Event Detection
≥10pts kinkIV kink 7.0pts — no clear event
Theta/Vega Clarity
<0.5 or >2.0θ/ν ratio 513.86 — favors income trades
Expiration Distribution
≥3 expirations3 liquid expirations — flexible
Event Risk
≥60% (safe)caution advised: Earnings in 7d (elevated risk)
Spread Momentum
<1.2 ratioSpread ratio 1.00x — stable
Flow Momentum
≥25% strength + ≥50% consistencyFlow -16% @ 58% consistency — unclear
Smart Money Timing
≥40 composite scoreScore 30 (ITM 20% + inst 0%) — retail dominated
Directional Strategy Fit
Option Buyers
Long Calls5.1
bullishIV fair, mixed flow
Long Puts5.5
bearishIV fair, mixed flow
Premium Sellers
Cash-Secured Put4.5
bullishIV fair, mixed flow
Covered Call4.9
bearishIV fair, mixed flow
For educational purposes only. Not investment advice.