AInvestOption Pilot Program
Options/IAUI
I

IAUINEOS Gold High Income ETF

Options Analysis Report
AUM $597M|BATS
● 2026-08-28$51.65
BEARISH
Analysis: 2026-08-27 EOD data
1Y +1.9%YTD -7.9%7D -2.1%
156
30D
±5.1%
12%

IAUI Options Overview

IV is low with bearish flow and unusual activity. Conditions favor option buyers.

REWARDS

RISK ANALYSIS

4.8VALUESENTIMENTACTIVITYLIQUIDITYTIMING

Snowflake Analysis

Favorable conditions for option buyers

Learn
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IAUI Gamma Walls

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Value

Is IV priced right?

6.4
ExpensiveCheap

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

levels.

Risk Checks5/9 checks passed
≤35%

IV Rank 21.9% — cheap vs history

<1.05x

IV/HV 1.40x — IV premium over HV

Sector Relative≤50%

Sector percentile 38% — below sector median

<1.1x

Front/Back 0.85x — contango

<1.25x

Put/Call IV 1.16x — elevated

<80%

ATM IV 20.3% — normal range

<80%

Effective IV 92.6% (ATM 20.3% + spread 36.1% + bias) — expensive

<3.0%

Total drag 43.39% (spread 36.13% + slippage 7.26%) — high friction

≥5.0

Vega efficiency 1.33 (vega 4.792 / spread 36.13%) — spread drag

Sentiment

Bullish or bearish?

4.5
BearishBullish

Analyzes

,
, and flow direction to determine market bias.

Risk ChecksNeutral - Weak signal (Conviction: +2%, Raw: -4%)
|net sentiment| ≥25%

Conviction-weighted: +2% (neutral) — Raw: -4%

≥15%

|OI skew| 10.3% — balanced

Same sign, |vol skew| ≥10%

Vol skew -96.2%, OI skew +10.3% — 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: +89%, ATM: -46%, OTM: -8% — strong bullish (ITM/ATM divergent)

Sector Relative≤40% or ≥60%

Sector P/C percentile 99% — very bearish vs sector

Activity

Unusual activity?

3.9
QuietActive

Detects volume surges,

, and unusual options activity that may signal moves.

Risk Checks1/8 checks passed
≥1.5x

Volume 1.3x avg — normal

≥15%

Vol/OI 8.1% — normal turnover

≥2 days

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

≥5%

OI change -7.5% (5d) — unwinding

Sector Relative≥60%

Sector activity percentile 79% — active vs sector

≥30%

Large trade volume 0% — mostly retail

≥60%

Aggressive execution 9% — patient

≥30

Conviction +2 (bullish) — mixed

Liquidity

Can I trade efficiently?

2.4
IlliquidLiquid

Evaluates

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

Risk Checks0/8 checks passed
≤5.0%

Spread 36.1% — wide

≥10,000

OI 1,929 — thin

≥500

Volume 156/day — thin

≤$0.50

$1.81 to cross — expensive

≥5 strikes

0 liquid strikes — limited options

Sector Relative≤40%

Sector spread percentile 53% — neutral vs sector

≥100 contracts

Depth 18.8 contracts (bid:8.0 ask:10.8) — thin

<1.0%

Avg slippage 7.26% — poor

Timing

Is now a good time?

7.0
RiskyFavorable

Considers earnings proximity,

, and event calendar for optimal entry timing.

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

Slope -15.3% — contango

<30 or >70

IV percentile 22% — buyer opportunity

≥10pts kink

IV kink -4.2pts — no clear event

<0.5 or >2.0

θ/ν ratio 656.42 — favors income trades

≥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 +2% @ 51% consistency — unclear

≥40 composite score

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

Directional Strategy Fit

Option Buyers
Long Calls5.2
bullishIV cheap, mixed flow
Long Puts6.3
bearishIV cheap, mixed flow
Premium Sellers
Cash-Secured Put4.2
bullishIV too cheap, mixed flow
Covered Call4.6
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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