AInvestOption Pilot Program
Options/IHAK
I

IHAKiShares Cybersecurity and Tech ETF

Options Analysis Report
AUM $1.1B|ARCX
● 2026-08-31$65.41
NEUTRAL
Analysis: 2026-08-28 EOD data
1Y +27.6%YTD +38.1%7D +4.6%
2
30D
±8.7%
20%

IHAK Options Overview

Mixed signals. No clear edge detected.

REWARDS

RISK ANALYSIS

3.9VALUESENTIMENTACTIVITYLIQUIDITYTIMING

Snowflake Analysis

Balanced conditions with no clear edge

Learn
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IHAK Gamma Walls

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Value

Is IV priced right?

5.7
ExpensiveCheap

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

levels.

Risk Checks4/9 checks passed
≤35%

IV Rank 48.4% — elevated vs history

<1.05x

IV/HV 0.81x — IV ≤ HV

Sector Relative≤50%

Sector percentile 69% — above sector median

<1.1x

Front/Back 0.96x — contango

<1.25x

Put/Call IV 1.16x — elevated

<80%

ATM IV 31.5% — normal range

<80%

Effective IV 187.1% (ATM 31.5% + spread 77.8% + bias) — expensive

<3.0%

Total drag 105.56% (spread 77.78% + slippage 27.78%) — high friction

≥5.0

Vega efficiency 2.47 (vega 19.214 / spread 77.78%) — spread drag

Sentiment

Bullish or bearish?

2.1
BearishBullish

Analyzes

,
, and flow direction to determine market bias.

Risk ChecksVery Bearish - Weak signal (Conviction: -100%, Raw: -100%)
|net sentiment| ≥25%

Conviction-weighted: -100% (strong bearish) — Raw: -100%

≥15%

|OI skew| 12.2% — balanced

Same sign, |vol skew| ≥10%

Vol skew +100.0%, OI skew -12.2% — 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: +0%, ATM: +0%, OTM: -100% — neutral (ITM/ATM divergent)

Sector Relative≤40% or ≥60%

Sector P/C percentile 50% — neutral vs sector

Activity

Unusual activity?

3.0
QuietActive

Detects volume surges,

, and unusual options activity that may signal moves.

Risk Checks2/8 checks passed
≥1.5x

Volume 0.2x avg — normal

≥15%

Vol/OI 0.8% — normal turnover

≥2 days

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

≥5%

OI change +5.6% (5d) — building

Sector Relative≥60%

Sector activity percentile 26% — below sector avg

≥30%

Large trade volume 0% — mostly retail

≥60%

Aggressive execution 0% — patient

≥30

Conviction -100 (bearish) — strong conviction

Liquidity

Can I trade efficiently?

1.9
IlliquidLiquid

Evaluates

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

Risk Checks0/8 checks passed
≤5.0%

Spread 77.8% — wide

≥10,000

OI 246 — thin

≥500

Volume 2/day — thin

≤$0.50

$3.89 to cross — expensive

≥5 strikes

0 liquid strikes — limited options

Sector Relative≤40%

Sector spread percentile 76% — wider than sector

≥100 contracts

Depth 79.0 contracts (bid:67.0 ask:12.0) — thin

<1.0%

Avg slippage 27.78% — poor

Timing

Is now a good time?

7.0
RiskyFavorable

Considers earnings proximity,

, and event calendar for optimal entry timing.

Risk Checks5/9 checks passed
|slope| ≥5%

Slope -3.8% — flat/unclear

<30 or >70

IV percentile 48% — neutral

≥10pts kink

IV kink -1.1pts — no clear event

<0.5 or >2.0

θ/ν ratio 1027.47 — 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 -100% @ 100% consistency — STRONG directional (bearish)

≥40 composite score

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

Directional Strategy Fit

Option Buyers
Long Calls4.1
bullishIV fair, bearish flow
Long Puts6.1
bearishIV fair, bearish flow
Premium Sellers
Cash-Secured Put3.5
bullishIV fair, bearish flow
Covered Call5.5
bearishIV fair, bearish 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 IHAK

IHAK gamma wallsIHAK max painIHAK IV rankIHAK options flow