IV is low with bearish flow and unusual activity. No clear edge detected.
Is IV priced right?
Measures whether options are cheap, fair, or rich relative to historical and peer
IV Rank 8.6% — cheap vs history
IV/HV 0.94x — IV ≤ HV
Sector percentile 14% — below sector median
Front/Back 0.84x — contango
Put/Call IV 1.16x — elevated
ATM IV 22.2% — normal range
Effective IV 24.8% (ATM 22.2% + spread 1.3% + bias) — excellent value
Total drag 3.65% (spread 1.29% + slippage 2.36%) — high friction
Vega efficiency 680.39 (vega 87.771 / spread 1.29%) — efficient
Bullish or bearish?
Analyzes
Conviction-weighted: -11% (bearish) — Raw: -6%
|OI skew| 47.5% — put-heavy
Vol skew -31.8%, OI skew -47.5% — aligned
0-DTE 21%, far-OTM 15%, avg DTE 30
OI change +0.0% (5d) — stable
ITM: +5%, ATM: -9%, OTM: +1% — neutral (ITM/ATM divergent)
Sector P/C percentile 91% — very bearish vs sector
Unusual activity?
Detects volume surges,
Volume 0.9x avg — normal
Vol/OI 16.8% — high turnover
Top 3 strikes = 50% — dispersed
1 day(s) elevated — may be one-day event
OI change +9.3% (5d) — building
Sector activity percentile 89% — very active vs sector
Large trade volume 46% — institutional presence
Aggressive execution 81% — highly urgent
Conviction -11 (bearish) — mixed
Can I trade efficiently?
Evaluates
Spread 1.3% — tight
OI 10,469,617 — deep
Volume 1,762,752/day — active
$0.06 to cross — cheap
21 liquid strikes — good coverage
Sector spread percentile 28% — tighter than sector
Depth 330.9 contracts (bid:159.5 ask:171.4) — adequate
Avg slippage 2.36% — poor
Is now a good time?
Considers earnings proximity,
Slope -16.3% — contango
IV percentile 9% — buyer opportunity
IV kink -2.6pts — no clear event
θ/ν ratio 1755.41 — favors income trades
5 liquid expirations — flexible
safe window: No earnings detected
Spread ratio 1.00x — stable
Flow -11% @ 56% consistency — unclear
Score 76 (ITM 20% + inst 46%) — HIGH institutional
For educational purposes only. Not investment advice.