Mixed signals. No clear edge detected.
Is IV priced right?
Measures whether options are cheap, fair, or rich relative to historical and peer
IV Rank 51.6% — elevated vs history
IV/HV 0.90x — IV ≤ HV
Sector percentile 68% — above sector median
Front/Back 1.26x — backwardation
Put/Call IV 1.16x — elevated
ATM IV 39.2% — normal range
Effective IV 54.5% (ATM 39.2% + spread 7.7% + bias) — good value
Total drag 11.46% (spread 7.67% + slippage 3.79%) — high friction
Vega efficiency 7.90 (vega 6.056 / spread 7.67%) — efficient
Bullish or bearish?
Analyzes
Conviction-weighted: -12% (bearish) — Raw: -19%
|OI skew| 27.8% — put-heavy
Vol skew +30.5%, OI skew -27.8% — divergent (opposite)
0-DTE 0%, far-OTM 15%, avg DTE 30
OI change +0.0% (5d) — stable
ITM: -15%, ATM: -11%, OTM: -22% — bearish (ITM/ATM aligned)
Sector P/C percentile 21% — very bullish vs sector
Unusual activity?
Detects volume surges,
Volume 0.4x avg — normal
Vol/OI 2.7% — normal turnover
Top 3 strikes = 50% — dispersed
1 day(s) elevated — may be one-day event
OI change -0.1% (5d) — stable
Sector activity percentile 58% — neutral vs sector
Large trade volume 38% — institutional presence
Aggressive execution 46% — patient
Conviction -12 (bearish) — mixed
Can I trade efficiently?
Evaluates
Spread 7.7% — wide
OI 1,975,867 — deep
Volume 53,416/day — active
$0.38 to cross — cheap
2 liquid strikes — limited options
Sector spread percentile 73% — wider than sector
Depth 420.6 contracts (bid:237.2 ask:183.4) — adequate
Avg slippage 3.79% — poor
Is now a good time?
Considers earnings proximity,
Slope +25.6% — backwardation
IV percentile 52% — neutral
IV kink 8.2pts — no clear event
θ/ν ratio 43.88 — favors income trades
5 liquid expirations — flexible
caution advised: No earnings detected; CPI in 1d (HIGH)
Spread ratio 1.00x — stable
Flow -12% @ 56% consistency — unclear
Score 68 (ITM 20% + inst 38%) — HIGH institutional
For educational purposes only. Not investment advice.