AInvestOption Pilot Program
Options/IBB
I

IBBiShares Biotechnology ETF

Options Analysis Report
AUM $10.5B|NASDAQ
● 2026-08-31$208.95
NEUTRAL
Analysis: 2026-08-28 EOD data
1Y +48.8%YTD +23.6%7D -1.7%
1,428
30D
±6.0%
11%

IBB Options Overview

Mixed signals. Conditions favor option buyers.

REWARDS

RISK ANALYSIS

5.5VALUESENTIMENTACTIVITYLIQUIDITYTIMING

Snowflake Analysis

Favorable conditions for option buyers

Learn
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IBB Gamma Walls

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Value

Is IV priced right?

8.3
ExpensiveCheap

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

levels.

Risk Checks7/9 checks passed
≤35%

IV Rank 31.3% — cheap vs history

<1.05x

IV/HV 0.76x — IV ≤ HV

Sector Relative≤50%

Sector percentile 50% — above sector median

<1.1x

Front/Back 0.87x — contango

<1.25x

Put/Call IV 1.16x — elevated

<80%

ATM IV 23.8% — normal range

<80%

Effective IV 46.0% (ATM 23.8% + spread 11.1% + bias) — excellent value

<3.0%

Total drag 16.69% (spread 11.11% + slippage 5.58%) — high friction

≥5.0

Vega efficiency 25.99 (vega 28.874 / spread 11.11%) — efficient

Sentiment

Bullish or bearish?

5.0
BearishBullish

Analyzes

,
, and flow direction to determine market bias.

Risk ChecksBearish - Moderate signal (Conviction: -19%, Raw: -11%)
|net sentiment| ≥25%

Conviction-weighted: -19% (bearish) — Raw: -11%

≥15%

|OI skew| 3.3% — balanced

Same sign, |vol skew| ≥10%

Vol skew +10.9%, OI skew +3.3% — 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: -73%, ATM: -29%, OTM: +32% — strong bearish (ITM/ATM aligned)

Sector Relative≤40% or ≥60%

Sector P/C percentile 25% — very bullish vs sector

Activity

Unusual activity?

3.9
QuietActive

Detects volume surges,

, and unusual options activity that may signal moves.

Risk Checks0/8 checks passed
≥1.5x

Volume 0.9x avg — normal

≥15%

Vol/OI 3.1% — normal turnover

≥2 days

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

≥5%

OI change +3.6% (5d) — building

Sector Relative≥60%

Sector activity percentile 58% — neutral vs sector

≥30%

Large trade volume 12% — mostly retail

≥60%

Aggressive execution 54% — patient

≥30

Conviction -19 (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 11.1% — wide

≥10,000

OI 45,934 — adequate

≥500

Volume 1,428/day — adequate

≤$0.50

$0.56 to cross — expensive

≥5 strikes

1 liquid strikes — limited options

Sector Relative≤40%

Sector spread percentile 62% — wider than sector

≥100 contracts

Depth 74.1 contracts (bid:25.4 ask:48.7) — thin

<1.0%

Avg slippage 5.58% — poor

Timing

Is now a good time?

6.7
RiskyFavorable

Considers earnings proximity,

, and event calendar for optimal entry timing.

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

Slope -13.3% — contango

<30 or >70

IV percentile 31% — neutral

≥10pts kink

IV kink -2.9pts — no clear event

<0.5 or >2.0

θ/ν ratio 344.97 — 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 -19% @ 60% consistency — unclear

≥40 composite score

Score 42 (ITM 20% + inst 12%) — moderate institutional

Directional Strategy Fit

Option Buyers
Long Calls6.2
bullishIV cheap, mixed flow
Long Puts6.2
bearishIV cheap, mixed flow
Premium Sellers
Cash-Secured Put4.0
bullishIV too cheap, mixed flow
Covered Call4.0
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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