AInvestOption Pilot Program
Options/HWM
HWM logo

HWMHowmet Aerospace Inc.

Options Analysis Report•ROLLING DRAWING & EXTRUDING OF NONFERROUS METALS
Market Cap $105.6B|NYSE
● 2026-08-31$264.85
NEUTRAL
Analysis: 2026-08-28 EOD data
1Y +52.9%YTD +25.1%7D +0.6%
2,741
30D
±8.2%
7%

HWM Options Overview

Mixed signals. No clear edge detected.

REWARDS

RISK ANALYSIS

5.4VALUESENTIMENTACTIVITYLIQUIDITYTIMING

Snowflake Analysis

Balanced conditions with no clear edge

Learn
Loading score history...

HWM Gamma Walls

Loading gamma walls...

Value

Is IV priced right?

6.8
ExpensiveCheap

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

levels.

Risk Checks5/9 checks passed
≤35%

IV Rank 56.1% — elevated vs history

<1.05x

IV/HV 1.16x — IV premium over HV

Sector Relative≤50%

Sector percentile 60% — above sector median

<1.1x

Front/Back 0.83x — contango

<1.25x

Put/Call IV 1.16x — elevated

<80%

ATM IV 31.6% — normal range

<80%

Effective IV 53.3% (ATM 31.6% + spread 10.8% + bias) — good value

<3.0%

Total drag 17.38% (spread 10.85% + slippage 6.53%) — high friction

≥5.0

Vega efficiency 25.98 (vega 28.185 / spread 10.85%) — efficient

Sentiment

Bullish or bearish?

4.9
BearishBullish

Analyzes

,
, and flow direction to determine market bias.

Risk ChecksBearish - Moderate signal (Conviction: -26%, Raw: -22%)
|net sentiment| ≥25%

Conviction-weighted: -26% (bearish) — Raw: -22%

≥15%

|OI skew| 0.7% — balanced

Same sign, |vol skew| ≥10%

Vol skew +20.5%, OI skew -0.7% — 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: -83%, ATM: +20%, OTM: -26% — strong bearish (ITM/ATM divergent)

Sector Relative≤40% or ≥60%

Sector P/C percentile 51% — neutral vs sector

Activity

Unusual activity?

4.7
QuietActive

Detects volume surges,

, and unusual options activity that may signal moves.

Risk Checks3/8 checks passed
≥1.5x

Volume 0.8x avg — normal

≥15%

Vol/OI 5.0% — normal turnover

≥2 days

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

≥5%

OI change +22.7% (5d) — building

Sector Relative≥60%

Sector activity percentile 72% — active vs sector

≥30%

Large trade volume 47% — institutional presence

≥60%

Aggressive execution 26% — patient

≥30

Conviction -26 (bearish) — mixed

Liquidity

Can I trade efficiently?

3.6
IlliquidLiquid

Evaluates

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

Risk Checks2/8 checks passed
≤5.0%

Spread 10.8% — wide

≥10,000

OI 55,308 — deep

≥500

Volume 2,741/day — adequate

≤$0.50

$0.54 to cross — expensive

≥5 strikes

0 liquid strikes — limited options

Sector Relative≤40%

Sector spread percentile 61% — wider than sector

≥100 contracts

Depth 70.4 contracts (bid:34.0 ask:36.4) — thin

<1.0%

Avg slippage 6.53% — poor

Timing

Is now a good time?

7.2
RiskyFavorable

Considers earnings proximity,

, and event calendar for optimal entry timing.

Risk Checks7/9 checks passed
|slope| ≥5%

Slope -17.2% — contango

<30 or >70

IV percentile 56% — neutral

≥10pts kink

IV kink -2.1pts — no clear event

<0.5 or >2.0

θ/ν ratio 194.11 — favors income trades

≥3 expirations

4 liquid expirations — flexible

≥60% (safe)

safe window: No events detected

<1.2 ratio

Spread ratio 1.00x — stable

≥25% strength + ≥50% consistency

Flow -26% @ 63% consistency — moderate (bearish)

≥40 composite score

Score 77 (ITM 20% + inst 47%) — HIGH institutional

Directional Strategy Fit

Option Buyers
Long Calls5.7
bullishIV cheap, mixed flow
Long Puts5.8
bearishIV cheap, mixed flow
Premium Sellers
Cash-Secured Put4.5
bullishIV too cheap, mixed flow
Covered Call4.5
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.

More on HWM

HWM gamma wallsHWM max painHWM IV rankHWM options flow