HRMYHarmony Biosciences Holdings, Inc. Common Stock
Options Analysis Report•PHARMACEUTICAL PREPARATIONS
Market Cap $1.7B|NASDAQ
● 2026-04-17$29.99
NEUTRAL
Analysis: 2026-04-16 EOD data
1Y +5.2%YTD -19.8%7D +3.8%
Options Vol
87
30D
Implied Move
±22.4%
IV Rank
36%
HRMY Options Overview
IV is elevated. Conditions favor premium sellers.
REWARDS
RISK ANALYSIS
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Value
Is IV priced right?
3.2
ExpensiveCheap
Measures whether options are cheap, fair, or rich relative to historical and peer
IV
levels.Risk Checks1/9 checks passed
IV Rank
≤35%IV Rank 85.7% — elevated vs history
IV/HV Ratio
<1.05xIV/HV 3.05x — IV premium over HV
Sector Relative≤50%
Sector percentile 60% — above sector median
Term Structure
<1.1xFront/Back 1.16x — backwardation
Skew Normal
<1.25xPut/Call IV 1.16x — elevated
Absolute IV
<80%ATM IV 81.0% — crisis-level IV
Spread-Adjusted Value
<80%Effective IV 203.6% (ATM 81.0% + spread 61.3% + bias) — expensive
Execution Efficiency
<3.0%Total drag 86.29% (spread 61.29% + slippage 25.00%) — high friction
Vega Efficiency
≥5.0Vega efficiency 0.79 (vega 4.866 / spread 61.29%) — spread drag
Sentiment
Bullish or bearish?
4.0
BearishBullish
Analyzes
put/call ratios
, open interest skew
, and flow direction to determine market bias.Risk ChecksVery Bearish - Moderate signal (Conviction: -46%, Raw: -11%)
Flow Direction
|net sentiment| ≥25%Conviction-weighted: -46% (strong bearish) — Raw: -11%
OI Skew Magnitude
≥15%|OI skew| 19.0% — put-heavy
Volume-OI Alignment
Same sign, |vol skew| ≥10%Vol skew +37.9%, OI skew -19.0% — divergent (opposite)
Conviction Quality
≥2/3 conditions0-DTE 33%, far-OTM 15%, avg DTE 30
OI Momentum
|change| ≥3%OI change +0.0% (5d) — stable
Smart Money Flow
|weighted flow| ≥20%ITM: -17%, ATM: +0%, OTM: +67% — bearish (ITM/ATM divergent)
Sector Relative≤40% or ≥60%
Sector P/C percentile 46% — neutral vs sector
Activity
Unusual activity?
3.3
QuietActive
Detects volume surges,
block trades
, and unusual options activity that may signal moves.Risk Checks1/9 checks passed
Volume Surge
≥1.5xVolume 0.8x avg — normal
Turnover Rate
≥15%Vol/OI 0.7% — 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 +0.4% (5d) — stable
Sector Relative≥60%
Sector activity percentile 28% — below sector avg
Trade Quality
≥30%Large trade volume 0% — mostly retail
Execution Urgency
≥60%Aggressive execution 56% — patient
Flow Conviction
≥30Conviction -46 (bearish) — moderate
Liquidity
Can I trade efficiently?
2.5
IlliquidLiquid
Evaluates
bid-ask spreads
, volume depth, and open interest for trade execution quality.Risk Checks1/8 checks passed
Tradeable Spread
≤5.0%Spread 61.3% — wide
Adequate OI
≥10,000OI 12,332 — adequate
Active Volume
≥500Volume 87/day — thin
Reasonable Cost
≤$0.50$3.06 to cross — expensive
Strike Coverage
≥5 strikes0 liquid strikes — limited options
Sector Relative≤40%
Sector spread percentile 84% — much wider than sector
Order Book Depth
≥100 contractsDepth 28.700000000000003 contracts (bid:15.9 ask:12.8) — thin
Execution Quality
<1.0%Avg slippage 25.00% — poor
Timing
Is now a good time?
7.6
RiskyFavorable
Considers earnings proximity,
time decay
, and event calendar for optimal entry timing.Risk Checks8/9 checks passed
Term Structure Clarity
|slope| ≥5%Slope +16.4% — backwardation
IV Percentile Clarity
<30 or >70IV percentile 86% — seller opportunity
Event Detection
≥10pts kinkIV kink 13.9pts — event priced
Theta/Vega Clarity
<0.5 or >2.0θ/ν ratio 207.95 — favors income trades
Expiration Distribution
≥3 expirations3 liquid expirations — flexible
Event Risk
≥60% (safe)safe window: No earnings detected
Spread Momentum
<1.2 ratioSpread ratio 1.00x — stable
Flow Momentum
≥25% strength + ≥50% consistencyFlow -46% @ 73% consistency — STRONG directional (bearish)
Smart Money Timing
≥40 composite scoreScore 30 (ITM 20% + inst 0%) — retail dominated
Directional Strategy Fit
Option Buyers
Long Calls4.0
bullishIV expensive, bearish flow
Long Puts4.7
bearishIV expensive, bearish flow
Premium Sellers
Cash-Secured Put5.1
bullishIV rich premium, bearish flow
Covered Call5.8
bearishIV rich premium, bearish flow
For educational purposes only. Not investment advice.