AInvestOption Pilot Program
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HPHelmerich & Payne, Inc.

Options Analysis Report•DRILLING OIL & GAS WELLS
Market Cap $4.3B|NYSE
● 2026-08-31$42.55
BULLISH
Analysis: 2026-08-28 EOD data
1Y +100.4%YTD +42.1%7D +0.1%
30
30D
±12.0%
6%

HP Options Overview

bullish flow. No clear edge detected.

REWARDS

RISK ANALYSIS

5.2VALUESENTIMENTACTIVITYLIQUIDITYTIMING

Snowflake Analysis

Balanced conditions with no clear edge

Learn
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HP Gamma Walls

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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

levels.

Risk Checks4/9 checks passed
≤35%

IV Rank 69.7% — elevated vs history

<1.05x

IV/HV 0.72x — IV ≤ HV

Sector Relative≤50%

Sector percentile 67% — above sector median

<1.1x

Front/Back 0.92x — contango

<1.25x

Put/Call IV 1.16x — elevated

<80%

ATM IV 44.4% — normal range

<80%

Effective IV 127.4% (ATM 44.4% + spread 41.5% + bias) — expensive

<3.0%

Total drag 50.35% (spread 41.50% + slippage 8.85%) — high friction

≥5.0

Vega efficiency 1.49 (vega 6.178 / spread 41.50%) — spread drag

Sentiment

Bullish or bearish?

8.0
BearishBullish

Analyzes

,
, and flow direction to determine market bias.

Risk ChecksVery Bullish - Moderate signal (Conviction: +47%, Raw: +40%)
|net sentiment| ≥25%

Conviction-weighted: +47% (strong bullish) — Raw: +40%

≥15%

|OI skew| 7.8% — balanced

Same sign, |vol skew| ≥10%

Vol skew +100.0%, OI skew +7.8% — aligned

≥2/3 conditions

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

|change| ≥3%

OI change +0.0% (5d) — stable

|weighted flow| ≥20%

ITM: +33%, ATM: +0%, OTM: +41% — bullish (ITM/ATM divergent)

Sector Relative≤40% or ≥60%

Sector P/C percentile 50% — neutral vs sector

Activity

Unusual activity?

2.2
QuietActive

Detects volume surges,

, and unusual options activity that may signal moves.

Risk Checks1/8 checks passed
≥1.5x

Volume 0.1x avg — normal

≥15%

Vol/OI 0.2% — normal turnover

≥2 days

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

≥5%

OI change +0.9% (5d) — stable

Sector Relative≥60%

Sector activity percentile 13% — quiet vs sector

≥30%

Large trade volume 0% — mostly retail

≥60%

Aggressive execution 25% — patient

≥30

Conviction +47 (bullish) — moderate

Liquidity

Can I trade efficiently?

2.5
IlliquidLiquid

Evaluates

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

Risk Checks1/8 checks passed
≤5.0%

Spread 41.5% — wide

≥10,000

OI 13,514 — adequate

≥500

Volume 30/day — thin

≤$0.50

$2.07 to cross — expensive

≥5 strikes

0 liquid strikes — limited options

Sector Relative≤40%

Sector spread percentile 80% — wider than sector

≥100 contracts

Depth 96.1 contracts (bid:61.5 ask:34.6) — thin

<1.0%

Avg slippage 8.85% — poor

Timing

Is now a good time?

7.2
RiskyFavorable

Considers earnings proximity,

, and event calendar for optimal entry timing.

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

Slope -7.9% — contango

<30 or >70

IV percentile 70% — neutral

≥10pts kink

IV kink -1.9pts — no clear event

<0.5 or >2.0

θ/ν ratio 221.45 — favors income trades

≥3 expirations

3 liquid expirations — flexible

≥60% (safe)

safe window: No events detected

<1.2 ratio

Spread ratio 1.00x — stable

≥25% strength + ≥50% consistency

Flow +47% @ 75% consistency — STRONG directional (bullish)

≥40 composite score

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

Directional Strategy Fit

Option Buyers
Long Calls7.3
bullishIV fair, bullish flow
Long Puts4.2
bearishIV fair, bullish flow
Premium Sellers
Cash-Secured Put5.6
bullishIV fair, bullish flow
Covered Call3.5
bearishIV fair, bullish 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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