IPInternational Paper Co.
Options Analysis Report•PAPER MILLS
Market Cap $19.7B|NYSE
● 2026-04-17$37.13
NEUTRAL
Analysis: 2026-04-16 EOD data
1Y -17.6%YTD -7.8%7D +1.7%
Options Vol
1,355
30D
Implied Move
±15.8%
IV Rank
67%
IP Options Overview
IV is elevated with bearish flow. Conditions favor premium sellers.
REWARDS
RISK ANALYSIS
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Value
Is IV priced right?
2.8
ExpensiveCheap
Measures whether options are cheap, fair, or rich relative to historical and peer
IV
levels.Risk Checks3/9 checks passed
IV Rank
≤35%IV Rank 84.9% — elevated vs history
IV/HV Ratio
<1.05xIV/HV 1.26x — IV premium over HV
Sector Relative≤50%
Sector percentile 88% — above sector median
Term Structure
<1.1xFront/Back 0.87x — contango
Skew Normal
<1.25xPut/Call IV 1.16x — elevated
Absolute IV
<80%ATM IV 52.4% — normal range
Spread-Adjusted Value
<80%Effective IV 102.8% (ATM 52.4% + spread 25.2% + bias) — expensive
Execution Efficiency
<3.0%Total drag 33.52% (spread 25.21% + slippage 8.31%) — high friction
Vega Efficiency
≥5.0Vega efficiency 0.84 (vega 2.120 / spread 25.21%) — spread drag
Sentiment
Bullish or bearish?
5.1
BearishBullish
Analyzes
put/call ratios
, open interest skew
, and flow direction to determine market bias.Risk ChecksVery Bullish - Strong signal (Conviction: +47%, Raw: +49%)
Flow Direction
|net sentiment| ≥25%Conviction-weighted: +47% (strong bullish) — Raw: +49%
OI Skew Magnitude
≥15%|OI skew| 10.4% — balanced
Volume-OI Alignment
Same sign, |vol skew| ≥10%Vol skew -73.0%, OI skew -10.4% — aligned
Conviction Quality
≥2/3 conditions0-DTE 56%, far-OTM 15%, avg DTE 30
OI Momentum
|change| ≥3%OI change +0.0% (5d) — stable
Smart Money Flow
|weighted flow| ≥20%ITM: +93%, ATM: -47%, OTM: +14% — strong bullish (ITM/ATM divergent)
Sector Relative≤40% or ≥60%
Sector P/C percentile 96% — very bearish vs sector
Activity
Unusual activity?
3.5
QuietActive
Detects volume surges,
block trades
, and unusual options activity that may signal moves.Risk Checks1/9 checks passed
Volume Surge
≥1.5xVolume 0.5x avg — normal
Turnover Rate
≥15%Vol/OI 1.8% — 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 +3.9% (5d) — building
Sector Relative≥60%
Sector activity percentile 16% — quiet vs sector
Trade Quality
≥30%Large trade volume 27% — mixed
Execution Urgency
≥60%Aggressive execution 31% — patient
Flow Conviction
≥30Conviction +47 (bullish) — moderate
Liquidity
Can I trade efficiently?
3.0
IlliquidLiquid
Evaluates
bid-ask spreads
, volume depth, and open interest for trade execution quality.Risk Checks3/8 checks passed
Tradeable Spread
≤5.0%Spread 25.2% — wide
Adequate OI
≥10,000OI 74,672 — deep
Active Volume
≥500Volume 1,355/day — adequate
Reasonable Cost
≤$0.50$1.26 to cross — expensive
Strike Coverage
≥5 strikes0 liquid strikes — limited options
Sector Relative≤40%
Sector spread percentile 88% — much wider than sector
Order Book Depth
≥100 contractsDepth 265.0 contracts (bid:166.8 ask:98.2) — adequate
Execution Quality
<1.0%Avg slippage 8.31% — poor
Timing
Is now a good time?
7.9
RiskyFavorable
Considers earnings proximity,
time decay
, and event calendar for optimal entry timing.Risk Checks8/9 checks passed
Term Structure Clarity
|slope| ≥5%Slope -12.6% — contango
IV Percentile Clarity
<30 or >70IV percentile 85% — seller opportunity
Event Detection
≥10pts kinkIV kink -9.5pts — no clear event
Theta/Vega Clarity
<0.5 or >2.0θ/ν ratio 35.28 — favors income trades
Expiration Distribution
≥3 expirations3 liquid expirations — flexible
Event Risk
≥60% (safe)acceptable: Earnings in 13d
Spread Momentum
<1.2 ratioSpread ratio 1.00x — stable
Flow Momentum
≥25% strength + ≥50% consistencyFlow +47% @ 73% consistency — STRONG directional (bullish)
Smart Money Timing
≥40 composite scoreScore 57 (ITM 20% + inst 27%) — moderate institutional
Directional Strategy Fit
Option Buyers
Long Calls4.4
bullishIV expensive, mixed flow
Long Puts4.3
bearishIV expensive, mixed flow
Premium Sellers
Cash-Secured Put5.8
bullishIV rich premium, mixed flow
Covered Call5.7
bearishIV rich premium, mixed flow
For educational purposes only. Not investment advice.