AInvestOption Pilot Program
Options/ILCG
I

ILCGiShares Morningstar Growth ETF

Options Analysis Report
AUM $3.1B|ARCX
● 2026-08-31$115.17
NEUTRAL
Analysis: 2026-08-28 EOD data
1Y +15.9%YTD +10.5%7D +1.4%
8
30D
±4.5%
1%

ILCG Options Overview

IV is low. Conditions favor option buyers.

REWARDS

RISK ANALYSIS

5.8VALUESENTIMENTACTIVITYLIQUIDITYTIMING

Snowflake Analysis

Favorable conditions for option buyers

Learn
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ILCG Gamma Walls

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Value

Is IV priced right?

7.7
ExpensiveCheap

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

levels.

Risk Checks6/9 checks passed
≤35%

IV Rank 15.8% — cheap vs history

<1.05x

IV/HV 0.98x — IV ≤ HV

Sector Relative≤50%

Sector percentile 29% — below sector median

<1.1x

Front/Back 0.80x — contango

<1.25x

Put/Call IV 1.16x — elevated

<80%

ATM IV 17.6% — normal range

<80%

Effective IV 238.5% (ATM 17.6% + spread 110.5% + bias) — expensive

<3.0%

Total drag 157.44% (spread 110.45% + slippage 46.99%) — high friction

≥5.0

Vega efficiency 2.72 (vega 30.089 / spread 110.45%) — spread drag

Sentiment

Bullish or bearish?

5.5
BearishBullish

Analyzes

,
, and flow direction to determine market bias.

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

Conviction-weighted: +25% (bullish) — Raw: +25%

≥15%

|OI skew| 38.5% — call-heavy

Same sign, |vol skew| ≥10%

Vol skew -100.0%, OI skew +38.5% — 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: +25%, OTM: +0% — bullish (ITM/ATM divergent)

Sector Relative≤40% or ≥60%

Sector P/C percentile 27% — very bullish vs sector

Activity

Unusual activity?

6.5
QuietActive

Detects volume surges,

, and unusual options activity that may signal moves.

Risk Checks4/8 checks passed
≥1.5x

Volume 1.7x avg — elevated

≥15%

Vol/OI 30.8% — high turnover

≥2 days

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

≥5%

OI change +0.0% (5d) — stable

Sector Relative≥60%

Sector activity percentile 95% — very active vs sector

≥30%

Large trade volume 0% — mostly retail

≥60%

Aggressive execution 75% — urgent

≥30

Conviction +25 (bullish) — mixed

Liquidity

Can I trade efficiently?

2.3
IlliquidLiquid

Evaluates

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

Risk Checks1/8 checks passed
≤5.0%

Spread 110.5% — wide

≥10,000

OI 26 — thin

≥500

Volume 8/day — thin

≤$0.50

$5.52 to cross — expensive

≥5 strikes

0 liquid strikes — limited options

Sector Relative≤40%

Sector spread percentile 46% — neutral vs sector

≥100 contracts

Depth 611.0 contracts (bid:312.8 ask:298.2) — deep

<1.0%

Avg slippage 46.99% — poor

Timing

Is now a good time?

7.1
RiskyFavorable

Considers earnings proximity,

, and event calendar for optimal entry timing.

Risk Checks7/9 checks passed
|slope| ≥5%

Slope -19.9% — contango

<30 or >70

IV percentile 16% — buyer opportunity

≥10pts kink

IV kink -2.5pts — no clear event

<0.5 or >2.0

θ/ν ratio 1243.34 — favors income trades

≥3 expirations

4 liquid expirations — flexible

≥60% (safe)

safe window: No earnings detected

<1.2 ratio

Spread ratio 1.00x — stable

≥25% strength + ≥50% consistency

Flow +25% @ 57% consistency — moderate (bullish)

≥40 composite score

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

Directional Strategy Fit

Option Buyers
Long Calls6.0
bullishIV cheap, mixed flow
Long Puts5.7
bearishIV cheap, mixed flow
Premium Sellers
Cash-Secured Put4.1
bullishIV too cheap, mixed flow
Covered Call3.8
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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