HIMSHims & Hers Health, Inc.
Options Analysis Report•SERVICES-OFFICES & CLINICS OF DOCTORS OF MEDICINE
Market Cap $6.2B|NYSE
● 2026-06-12$26.82
BULLISH
Analysis: 2026-06-11 EOD data
1Y -55.1%YTD -19.7%7D -1.3%
Options Vol
76,776
30D
Implied Move
±25.1%
IV Rank
50%
HIMS Options Overview
IV is elevated with bullish flow. Conditions favor premium sellers.
REWARDS
RISK ANALYSIS
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Value
Is IV priced right?
2.9
ExpensiveCheap
Measures whether options are cheap, fair, or rich relative to historical and peer
IV
levels.Risk Checks3/9 checks passed
IV Rank
≤35%IV Rank 91.2% — elevated vs history
IV/HV Ratio
<1.05xIV/HV 1.33x — IV premium over HV
Sector Relative≤50%
Sector percentile 80% — above sector median
Term Structure
<1.1xFront/Back 0.92x — contango
Skew Normal
<1.25xPut/Call IV 1.16x — elevated
Absolute IV
<80%ATM IV 93.0% — crisis-level IV
Spread-Adjusted Value
<80%Effective IV 118.5% (ATM 93.0% + spread 12.8% + bias) — expensive
Execution Efficiency
<3.0%Total drag 16.71% (spread 12.77% + slippage 3.94%) — high friction
Vega Efficiency
≥5.0Vega efficiency 6.13 (vega 7.823 / spread 12.77%) — acceptable
Sentiment
Bullish or bearish?
7.0
BearishBullish
Analyzes
put/call ratios
, open interest skew
, and flow direction to determine market bias.Risk ChecksBullish - Strong signal (Conviction: +13%, Raw: +14%)
Flow Direction
|net sentiment| ≥25%Conviction-weighted: +13% (bullish) — Raw: +14%
OI Skew Magnitude
≥15%|OI skew| 26.8% — call-heavy
Volume-OI Alignment
Same sign, |vol skew| ≥10%Vol skew +54.3%, OI skew +26.8% — aligned
Conviction Quality
≥2/3 conditions0-DTE 44%, far-OTM 15%, avg DTE 30
OI Momentum
|change| ≥3%OI change +0.0% (5d) — stable
Smart Money Flow
|weighted flow| ≥20%ITM: +26%, ATM: +7%, OTM: +16% — bullish (ITM/ATM aligned)
Sector Relative≤40% or ≥60%
Sector P/C percentile 43% — bullish vs sector
Activity
Unusual activity?
3.9
QuietActive
Detects volume surges,
block trades
, and unusual options activity that may signal moves.Risk Checks2/9 checks passed
Volume Surge
≥1.5xVolume 0.6x avg — normal
Turnover Rate
≥15%Vol/OI 7.1% — 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 +7.6% (5d) — building
Sector Relative≥60%
Sector activity percentile 89% — very active vs sector
Trade Quality
≥30%Large trade volume 21% — mixed
Execution Urgency
≥60%Aggressive execution 44% — patient
Flow Conviction
≥30Conviction +13 (bullish) — mixed
Liquidity
Can I trade efficiently?
4.5
IlliquidLiquid
Evaluates
bid-ask spreads
, volume depth, and open interest for trade execution quality.Risk Checks3/8 checks passed
Tradeable Spread
≤5.0%Spread 12.8% — wide
Adequate OI
≥10,000OI 1,084,303 — deep
Active Volume
≥500Volume 76,776/day — active
Reasonable Cost
≤$0.50$0.64 to cross — expensive
Strike Coverage
≥5 strikes1 liquid strikes — limited options
Sector Relative≤40%
Sector spread percentile 92% — much wider than sector
Order Book Depth
≥100 contractsDepth 412.9 contracts (bid:214.9 ask:198.0) — adequate
Execution Quality
<1.0%Avg slippage 3.94% — poor
Timing
Is now a good time?
7.0
RiskyFavorable
Considers earnings proximity,
time decay
, and event calendar for optimal entry timing.Risk Checks7/9 checks passed
Term Structure Clarity
|slope| ≥5%Slope -8.0% — contango
IV Percentile Clarity
<30 or >70IV percentile 91% — seller opportunity
Event Detection
≥10pts kinkIV kink -8.2pts — no clear event
Theta/Vega Clarity
<0.5 or >2.0θ/ν ratio 399.15 — favors income trades
Expiration Distribution
≥3 expirations5 liquid expirations — flexible
Event Risk
≥60% (safe)acceptable: No earnings detected; FOMC in 5d
Spread Momentum
<1.2 ratioSpread ratio 1.00x — stable
Flow Momentum
≥25% strength + ≥50% consistencyFlow +13% @ 56% consistency — unclear
Smart Money Timing
≥40 composite scoreScore 51 (ITM 20% + inst 21%) — moderate institutional
Directional Strategy Fit
Option Buyers
Long Calls5.2
bullishIV expensive, bullish flow
Long Puts3.8
bearishIV expensive, bullish flow
Premium Sellers
Cash-Secured Put6.7
bullishIV rich premium, bullish flow
Covered Call5.1
bearishIV rich premium, bullish flow
For educational purposes only. Not investment advice.