AInvestOption Pilot Program
Options/IBIT
I

IBITiShares Bitcoin Trust ETF

Options Analysis Report•COMMODITY CONTRACTS BROKERS & DEALERS
AUM $60.5B|NASDAQ
● 2026-08-28$45.29
BULLISH
Analysis: 2026-08-27 EOD data
1Y -28.8%YTD -11.1%7D +3.7%
871,475
30D
±11.4%
11%

IBIT Options Overview

bullish flow with unusual activity. No clear edge detected.

REWARDS

RISK ANALYSIS

6.6VALUESENTIMENTACTIVITYLIQUIDITYTIMING

Snowflake Analysis

Balanced conditions with no clear edge

Learn
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IBIT 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 65.0% — elevated vs history

<1.05x

IV/HV 1.10x — IV premium over HV

Sector Relative≤50%

Sector percentile 65% — above sector median

<1.1x

Front/Back 0.91x — contango

<1.25x

Put/Call IV 1.16x — elevated

<80%

ATM IV 42.4% — normal range

<80%

Effective IV 47.0% (ATM 42.4% + spread 2.3% + bias) — excellent value

<3.0%

Total drag 4.37% (spread 2.29% + slippage 2.08%) — high friction

≥5.0

Vega efficiency 43.11 (vega 9.872 / spread 2.29%) — efficient

Sentiment

Bullish or bearish?

6.7
BearishBullish

Analyzes

,
, and flow direction to determine market bias.

Risk ChecksNeutral - Moderate signal (Conviction: +4%, Raw: +8%)
|net sentiment| ≥25%

Conviction-weighted: +4% (neutral) — Raw: +8%

≥15%

|OI skew| 16.8% — call-heavy

Same sign, |vol skew| ≥10%

Vol skew +41.2%, OI skew +16.8% — aligned

≥2/3 conditions

0-DTE 22%, far-OTM 15%, avg DTE 30

|change| ≥3%

OI change +0.0% (5d) — stable

|weighted flow| ≥20%

ITM: -23%, ATM: +12%, OTM: +8% — neutral (ITM/ATM divergent)

Sector Relative≤40% or ≥60%

Sector P/C percentile 30% — bullish vs sector

Activity

Unusual activity?

5.3
QuietActive

Detects volume surges,

, and unusual options activity that may signal moves.

Risk Checks3/8 checks passed
≥1.5x

Volume 1.1x avg — normal

≥15%

Vol/OI 11.5% — normal turnover

≥2 days

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

≥5%

OI change -3.4% (5d) — unwinding

Sector Relative≥60%

Sector activity percentile 88% — very active vs sector

≥30%

Large trade volume 53% — heavy institutional

≥60%

Aggressive execution 67% — urgent

≥30

Conviction +4 (bullish) — mixed

Liquidity

Can I trade efficiently?

7.5
IlliquidLiquid

Evaluates

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

Risk Checks5/8 checks passed
≤5.0%

Spread 2.3% — acceptable

≥10,000

OI 7,558,966 — deep

≥500

Volume 871,475/day — active

≤$0.50

$0.11 to cross — cheap

≥5 strikes

3 liquid strikes — limited options

Sector Relative≤40%

Sector spread percentile 78% — wider than sector

≥100 contracts

Depth 659.4000000000001 contracts (bid:329.3 ask:330.1) — deep

<1.0%

Avg slippage 2.08% — poor

Timing

Is now a good time?

7.1
RiskyFavorable

Considers earnings proximity,

, and event calendar for optimal entry timing.

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

Slope -9.4% — contango

<30 or >70

IV percentile 65% — neutral

≥10pts kink

IV kink -1.9pts — no clear event

<0.5 or >2.0

θ/ν ratio 463.49 — favors income trades

≥3 expirations

5 liquid expirations — flexible

≥60% (safe)

safe window: No earnings detected

<1.2 ratio

Spread ratio 1.00x — stable

≥25% strength + ≥50% consistency

Flow +4% @ 52% consistency — unclear

≥40 composite score

Score 83 (ITM 20% + inst 53%) — HIGH institutional

Directional Strategy Fit

Option Buyers
Long Calls6.8
bullishIV cheap, bullish flow
Long Puts5.6
bearishIV cheap, bullish flow
Premium Sellers
Cash-Secured Put5.3
bullishIV too cheap, bullish flow
Covered Call4.8
bearishIV too cheap, bullish flow

For educational purposes only. Not investment advice.