AInvestOption Pilot Program
Options/HGER
H

HGERHarbor Commodity All-Weather Strategy ETF

Options Analysis Report
AUM $4.4B|NYSE
● 2026-08-31$34.97
NEUTRAL
Analysis: 2026-08-28 EOD data
1Y +37.8%YTD +41.6%7D -0.0%
30
30D
±5.1%
3%

HGER Options Overview

IV is low. Conditions favor option buyers.

REWARDS

RISK ANALYSIS

5.5VALUESENTIMENTACTIVITYLIQUIDITYTIMING

Snowflake Analysis

Favorable conditions for option buyers

Learn
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HGER Gamma Walls

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Value

Is IV priced right?

7.2
ExpensiveCheap

Measures whether options are cheap, fair, or rich relative to historical and peer

levels.

Risk Checks5/9 checks passed
≤35%

IV Rank 21.7% — cheap vs history

<1.05x

IV/HV 1.20x — IV premium over HV

Sector Relative≤50%

Sector percentile 38% — below sector median

<1.1x

Front/Back 0.75x — contango

<1.25x

Put/Call IV 1.16x — elevated

<80%

ATM IV 20.0% — normal range

<80%

Effective IV 293.0% (ATM 20.0% + spread 136.5% + bias) — expensive

<3.0%

Total drag 147.62% (spread 136.51% + slippage 11.11%) — high friction

≥5.0

Vega efficiency 0.00 (vega 0.000 / spread 136.51%) — spread drag

Sentiment

Bullish or bearish?

5.7
BearishBullish

Analyzes

,
, and flow direction to determine market bias.

Risk ChecksVery Bullish - Moderate signal (Conviction: +41%, Raw: +33%)
|net sentiment| ≥25%

Conviction-weighted: +41% (strong bullish) — Raw: +33%

≥15%

|OI skew| 7.7% — balanced

Same sign, |vol skew| ≥10%

Vol skew -33.3%, OI skew +7.7% — divergent (opposite)

≥2/3 conditions

0-DTE 0%, far-OTM 15%, avg DTE 30

|change| ≥3%

OI change +0.0% (5d) — stable

|weighted flow| ≥20%

ITM: +0%, ATM: -100%, OTM: +100% — strong bearish (ITM/ATM divergent)

Sector Relative≤40% or ≥60%

Sector P/C percentile 93% — very bearish vs sector

Activity

Unusual activity?

5.7
QuietActive

Detects volume surges,

, and unusual options activity that may signal moves.

Risk Checks3/8 checks passed
≥1.5x

Volume 1.4x avg — normal

≥15%

Vol/OI 12.2% — normal turnover

≥2 days

1 day(s) elevated — may be one-day event

≥5%

OI change +100.8% (5d) — building

Sector Relative≥60%

Sector activity percentile 86% — very active vs sector

≥30%

Large trade volume 0% — mostly retail

≥60%

Aggressive execution 0% — patient

≥30

Conviction +41 (bullish) — moderate

Liquidity

Can I trade efficiently?

2.3
IlliquidLiquid

Evaluates

, volume depth, and open interest for trade execution quality.

Risk Checks1/8 checks passed
≤5.0%

Spread 136.5% — wide

≥10,000

OI 247 — thin

≥500

Volume 30/day — thin

≤$0.50

$6.83 to cross — expensive

≥5 strikes

0 liquid strikes — limited options

Sector Relative≤40%

Sector spread percentile 53% — neutral vs sector

≥100 contracts

Depth 174.5 contracts (bid:91.0 ask:83.5) — adequate

<1.0%

Avg slippage 11.11% — poor

Timing

Is now a good time?

6.7
RiskyFavorable

Considers earnings proximity,

, and event calendar for optimal entry timing.

Risk Checks6/9 checks passed
|slope| ≥5%

Slope -25.2% — contango

<30 or >70

IV percentile 22% — buyer opportunity

≥10pts kink

IV kink -5.5pts — no clear event

<0.5 or >2.0

θ/ν ratio 1.00 — favors mixed

≥3 expirations

3 liquid expirations — flexible

≥60% (safe)

safe window: No earnings detected

<1.2 ratio

Spread ratio 1.00x — stable

≥25% strength + ≥50% consistency

Flow +41% @ 71% consistency — STRONG directional (bullish)

≥40 composite score

Score 30 (ITM 20% + inst 0%) — retail dominated

Directional Strategy Fit

Option Buyers
Long Calls5.9
bullishIV cheap, mixed flow
Long Puts5.4
bearishIV cheap, mixed flow
Premium Sellers
Cash-Secured Put4.3
bullishIV too cheap, mixed flow
Covered Call3.8
bearishIV too cheap, mixed flow

For educational purposes only. Not investment advice.

The Options Desk tracks the move options price into every US earnings report the week of Aug 31, next to how much each stock has actually moved on its past prints — plus the SPY, QQQ and IWM expected ranges and the gamma walls that box them in.

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