IMOImperial Oil Limited
Options Analysis Report•PETROLEUM REFINING
Market Cap $58.7B|XASE
● 2026-06-12$121.29
NEUTRAL
Analysis: 2026-06-11 EOD data
1Y +49.2%YTD +36.1%7D -1.0%
Options Vol
23
30D
Implied Move
±8.6%
IV Rank
5%
IMO Options Overview
Mixed signals. No clear edge detected.
REWARDS
RISK ANALYSIS
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Value
Is IV priced right?
7.3
ExpensiveCheap
Measures whether options are cheap, fair, or rich relative to historical and peer
IV
levels.Risk Checks5/9 checks passed
IV Rank
≤35%IV Rank 43.7% — elevated vs history
IV/HV Ratio
<1.05xIV/HV 1.03x — IV ≤ HV
Sector Relative≤50%
Sector percentile 29% — below sector median
Term Structure
<1.1xFront/Back 0.91x — contango
Skew Normal
<1.25xPut/Call IV 1.16x — elevated
Absolute IV
<80%ATM IV 36.1% — normal range
Spread-Adjusted Value
<80%Effective IV 81.8% (ATM 36.1% + spread 22.9% + bias) — expensive
Execution Efficiency
<3.0%Total drag 28.59% (spread 22.87% + slippage 5.72%) — high friction
Vega Efficiency
≥5.0Vega efficiency 2.86 (vega 6.543 / spread 22.87%) — spread drag
Sentiment
Bullish or bearish?
5.0
BearishBullish
Analyzes
put/call ratios
, open interest skew
, and flow direction to determine market bias.Risk ChecksNeutral - Weak signal (Conviction: -9%, Raw: -5%)
Flow Direction
|net sentiment| ≥25%Conviction-weighted: -9% (neutral) — Raw: -5%
OI Skew Magnitude
≥15%|OI skew| 31.8% — call-heavy
Volume-OI Alignment
Same sign, |vol skew| ≥10%Vol skew -4.3%, OI skew +31.8% — divergent (opposite)
Conviction Quality
≥2/3 conditions0-DTE 0%, far-OTM 15%, avg DTE 30
OI Momentum
|change| ≥3%OI change +0.0% (5d) — stable
Smart Money Flow
|weighted flow| ≥20%ITM: +0%, ATM: +0%, OTM: -9% — neutral (ITM/ATM divergent)
Sector Relative≤40% or ≥60%
Sector P/C percentile 83% — very bearish vs sector
Activity
Unusual activity?
1.9
QuietActive
Detects volume surges,
block trades
, and unusual options activity that may signal moves.Risk Checks0/9 checks passed
Volume Surge
≥1.5xVolume 0.2x avg — normal
Turnover Rate
≥15%Vol/OI 0.5% — normal turnover
Strike Concentration
≥60%Top 3 strikes = 50% — dispersed
Multi-Day Persistence
≥2 days1 day(s) elevated — may be one-day event
OI Build
≥5%OI change +2.4% (5d) — building
Sector Relative≥60%
Sector activity percentile 25% — below sector avg
Trade Quality
≥30%Large trade volume 0% — mostly retail
Execution Urgency
≥60%Aggressive execution 43% — patient
Flow Conviction
≥30Conviction -9 (bearish) — mixed
Liquidity
Can I trade efficiently?
2.2
IlliquidLiquid
Evaluates
bid-ask spreads
, volume depth, and open interest for trade execution quality.Risk Checks0/8 checks passed
Tradeable Spread
≤5.0%Spread 22.9% — wide
Adequate OI
≥10,000OI 4,299 — thin
Active Volume
≥500Volume 23/day — thin
Reasonable Cost
≤$0.50$1.14 to cross — expensive
Strike Coverage
≥5 strikes0 liquid strikes — limited options
Sector Relative≤40%
Sector spread percentile 61% — wider than sector
Order Book Depth
≥100 contractsDepth 24.200000000000003 contracts (bid:11.3 ask:12.9) — thin
Execution Quality
<1.0%Avg slippage 5.72% — poor
Timing
Is now a good time?
6.3
RiskyFavorable
Considers earnings proximity,
time decay
, and event calendar for optimal entry timing.Risk Checks5/9 checks passed
Term Structure Clarity
|slope| ≥5%Slope -9.3% — contango
IV Percentile Clarity
<30 or >70IV percentile 44% — neutral
Event Detection
≥10pts kinkIV kink -2.6pts — no clear event
Theta/Vega Clarity
<0.5 or >2.0θ/ν ratio 38.83 — favors income trades
Expiration Distribution
≥3 expirations4 liquid expirations — flexible
Event Risk
≥60% (safe)acceptable: No earnings detected; FOMC in 5d
Spread Momentum
<1.2 ratioSpread ratio 1.00x — stable
Flow Momentum
≥25% strength + ≥50% consistencyFlow -9% @ 56% consistency — unclear
Smart Money Timing
≥40 composite scoreScore 30 (ITM 20% + inst 0%) — retail dominated
Directional Strategy Fit
Option Buyers
Long Calls5.6
bullishIV cheap, mixed flow
Long Puts5.6
bearishIV cheap, mixed flow
Premium Sellers
Cash-Secured Put3.9
bullishIV too cheap, mixed flow
Covered Call4.0
bearishIV too cheap, mixed flow
For educational purposes only. Not investment advice.