JKHYHenry (Jack) & Associates
Options Analysis Report•SERVICES-COMPUTER INTEGRATED SYSTEMS DESIGN
Market Cap $11.1B|NASDAQ
● 2026-04-17$154.06
BULLISH
Analysis: 2026-04-16 EOD data
1Y -8.7%YTD -13.6%7D +4.7%
Options Vol
11
30D
Implied Move
±9.4%
IV Rank
13%
JKHY Options Overview
bullish flow. Conditions favor option buyers.
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 42.7% — elevated vs history
IV/HV Ratio
<1.05xIV/HV 1.21x — IV premium over HV
Sector Relative≤50%
Sector percentile 9% — below sector median
Term Structure
<1.1xFront/Back 1.12x — backwardation
Skew Normal
<1.25xPut/Call IV 1.16x — elevated
Absolute IV
<80%ATM IV 33.9% — normal range
Spread-Adjusted Value
<80%Effective IV 44.0% (ATM 33.9% + spread 5.1% + bias) — excellent value
Execution Efficiency
<3.0%Total drag 6.91% (spread 5.07% + slippage 1.84%) — high friction
Vega Efficiency
≥5.0Vega efficiency 6.27 (vega 3.178 / spread 5.07%) — acceptable
Sentiment
Bullish or bearish?
6.1
BearishBullish
Analyzes
put/call ratios
, open interest skew
, and flow direction to determine market bias.Risk ChecksBullish - Weak signal (Conviction: +14%, Raw: +11%)
Flow Direction
|net sentiment| ≥25%Conviction-weighted: +14% (bullish) — Raw: +11%
OI Skew Magnitude
≥15%|OI skew| 13.9% — balanced
Volume-OI Alignment
Same sign, |vol skew| ≥10%Vol skew +100.0%, OI skew -13.9% — 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: +11%, ATM: +0%, OTM: +0% — 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,
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 1.3% — 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 9% — quiet vs sector
Trade Quality
≥30%Large trade volume 0% — mostly retail
Execution Urgency
≥60%Aggressive execution 75% — urgent
Flow Conviction
≥30Conviction +14 (bullish) — mixed
Liquidity
Can I trade efficiently?
4.5
IlliquidLiquid
Evaluates
bid-ask spreads
, volume depth, and open interest for trade execution quality.Risk Checks2/8 checks passed
Tradeable Spread
≤5.0%Spread 5.1% — wide
Adequate OI
≥10,000OI 857 — thin
Active Volume
≥500Volume 11/day — thin
Reasonable Cost
≤$0.50$0.25 to cross — cheap
Strike Coverage
≥5 strikes0 liquid strikes — limited options
Sector Relative≤40%
Sector spread percentile 11% — much tighter than sector
Order Book Depth
≥100 contractsDepth 11.0 contracts (bid:5.8 ask:5.2) — thin
Execution Quality
<1.0%Avg slippage 1.84% — fair
Timing
Is now a good time?
6.6
RiskyFavorable
Considers earnings proximity,
time decay
, and event calendar for optimal entry timing.Risk Checks5/9 checks passed
Term Structure Clarity
|slope| ≥5%Slope +12.3% — backwardation
IV Percentile Clarity
<30 or >70IV percentile 43% — neutral
Event Detection
≥10pts kinkIV kink 3.6pts — no clear event
Theta/Vega Clarity
<0.5 or >2.0θ/ν ratio 3.39 — favors income trades
Expiration Distribution
≥3 expirations3 liquid expirations — flexible
Event Risk
≥60% (safe)safe window: Earnings in 18d (low risk)
Spread Momentum
<1.2 ratioSpread ratio 1.00x — stable
Flow Momentum
≥25% strength + ≥50% consistencyFlow +14% @ 60% consistency — unclear
Smart Money Timing
≥40 composite scoreScore 30 (ITM 20% + inst 0%) — retail dominated
Directional Strategy Fit
Option Buyers
Long Calls6.4
bullishIV cheap, bullish flow
Long Puts5.6
bearishIV cheap, bullish flow
Premium Sellers
Cash-Secured Put4.8
bullishIV too cheap, bullish flow
Covered Call4.1
bearishIV too cheap, bullish flow
For educational purposes only. Not investment advice.