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JNJJohnson & Johnson

Options Analysis Report•PHARMACEUTICAL PREPARATIONS
Market Cap $645.9B|NYSE
● 2026-08-28$268.04
NEUTRAL
Analysis: 2026-08-27 EOD data
1Y +51.3%YTD +29.3%7D -0.8%
14,906
30D
±6.2%
16%

JNJ Options Overview

IV is low. No clear edge detected.

REWARDS

RISK ANALYSIS

6.0VALUESENTIMENTACTIVITYLIQUIDITYTIMING

Snowflake Analysis

Favorable conditions for option buyers

Learn
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JNJ Gamma Walls

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Value

Is IV priced right?

8.2
ExpensiveCheap

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

levels.

Risk Checks6/9 checks passed
≤35%

IV Rank 14.7% — cheap vs history

<1.05x

IV/HV 1.22x — IV premium over HV

Sector Relative≤50%

Sector percentile 3% — below sector median

<1.1x

Front/Back 0.88x — contango

<1.25x

Put/Call IV 1.16x — elevated

<80%

ATM IV 23.3% — normal range

<80%

Effective IV 41.8% (ATM 23.3% + spread 9.3% + bias) — excellent value

<3.0%

Total drag 16.00% (spread 9.26% + slippage 6.74%) — high friction

≥5.0

Vega efficiency 4.59 (vega 4.251 / spread 9.26%) — spread drag

Sentiment

Bullish or bearish?

5.8
BearishBullish

Analyzes

,
, and flow direction to determine market bias.

Risk ChecksNeutral - Moderate signal (Conviction: +2%, Raw: -3%)
|net sentiment| ≥25%

Conviction-weighted: +2% (neutral) — Raw: -3%

≥15%

|OI skew| 13.8% — balanced

Same sign, |vol skew| ≥10%

Vol skew +11.2%, OI skew +13.8% — aligned

≥2/3 conditions

0-DTE 26%, far-OTM 15%, avg DTE 30

|change| ≥3%

OI change +0.0% (5d) — stable

|weighted flow| ≥20%

ITM: +23%, ATM: +22%, OTM: -18% — bullish (ITM/ATM aligned)

Sector Relative≤40% or ≥60%

Sector P/C percentile 53% — neutral vs sector

Activity

Unusual activity?

2.8
QuietActive

Detects volume surges,

, and unusual options activity that may signal moves.

Risk Checks1/8 checks passed
≥1.5x

Volume 0.5x avg — normal

≥15%

Vol/OI 4.0% — normal turnover

≥2 days

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

≥5%

OI change -10.5% (5d) — unwinding

Sector Relative≥60%

Sector activity percentile 76% — active vs sector

≥30%

Large trade volume 13% — mostly retail

≥60%

Aggressive execution 26% — patient

≥30

Conviction +2 (bullish) — mixed

Liquidity

Can I trade efficiently?

5.5
IlliquidLiquid

Evaluates

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

Risk Checks5/8 checks passed
≤5.0%

Spread 9.3% — wide

≥10,000

OI 375,927 — deep

≥500

Volume 14,906/day — active

≤$0.50

$0.46 to cross — cheap

≥5 strikes

3 liquid strikes — limited options

Sector Relative≤40%

Sector spread percentile 5% — much tighter than sector

≥100 contracts

Depth 162.0 contracts (bid:76.2 ask:85.8) — adequate

<1.0%

Avg slippage 6.74% — poor

Timing

Is now a good time?

7.5
RiskyFavorable

Considers earnings proximity,

, and event calendar for optimal entry timing.

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

Slope -12.0% — contango

<30 or >70

IV percentile 15% — buyer opportunity

≥10pts kink

IV kink -1.7pts — no clear event

<0.5 or >2.0

θ/ν ratio 5.89 — favors income trades

≥3 expirations

5 liquid expirations — flexible

≥60% (safe)

safe window: No events detected

<1.2 ratio

Spread ratio 1.00x — stable

≥25% strength + ≥50% consistency

Flow +2% @ 51% consistency — unclear

≥40 composite score

Score 43 (ITM 20% + inst 13%) — moderate institutional

Directional Strategy Fit

Option Buyers
Long Calls6.8
bullishIV cheap, mixed flow
Long Puts6.3
bearishIV cheap, mixed flow
Premium Sellers
Cash-Secured Put4.8
bullishIV too cheap, mixed flow
Covered Call4.3
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.