KEYSKeysight Technologies, Inc.
Options Analysis Report•INDUSTRIAL INSTRUMENTS FOR MEASUREMENT, DISPLAY, AND CONTROL
Market Cap $57.3B|NYSE
● 2026-04-17$334.34
NEUTRAL
Analysis: 2026-04-16 EOD data
1Y +153.5%YTD +61.8%7D +3.1%
Options Vol
1,660
30D
Implied Move
±11.9%
IV Rank
57%
KEYS Options Overview
IV is elevated with bearish flow. Conditions favor premium sellers.
REWARDS
RISK ANALYSIS
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Value
Is IV priced right?
5.3
ExpensiveCheap
Measures whether options are cheap, fair, or rich relative to historical and peer
IV
levels.Risk Checks4/9 checks passed
IV Rank
≤35%IV Rank 80.0% — elevated vs history
IV/HV Ratio
<1.05xIV/HV 1.06x — IV premium over HV
Sector Relative≤50%
Sector percentile 49% — below sector median
Term Structure
<1.1xFront/Back 0.86x — contango
Skew Normal
<1.25xPut/Call IV 1.16x — elevated
Absolute IV
<80%ATM IV 47.8% — normal range
Spread-Adjusted Value
<80%Effective IV 80.7% (ATM 47.8% + spread 16.5% + bias) — expensive
Execution Efficiency
<3.0%Total drag 22.95% (spread 16.46% + slippage 6.49%) — high friction
Vega Efficiency
≥5.0Vega efficiency 4.19 (vega 6.890 / spread 16.46%) — spread drag
Sentiment
Bullish or bearish?
3.7
BearishBullish
Analyzes
put/call ratios
, open interest skew
, and flow direction to determine market bias.Risk ChecksBearish - Strong signal (Conviction: -28%, Raw: -28%)
Flow Direction
|net sentiment| ≥25%Conviction-weighted: -28% (bearish) — Raw: -28%
OI Skew Magnitude
≥15%|OI skew| 9.4% — balanced
Volume-OI Alignment
Same sign, |vol skew| ≥10%Vol skew -8.6%, OI skew -9.4% — weak (same direction)
Conviction Quality
≥2/3 conditions0-DTE 39%, far-OTM 15%, avg DTE 30
OI Momentum
|change| ≥3%OI change +0.0% (5d) — stable
Smart Money Flow
|weighted flow| ≥20%ITM: +33%, ATM: +44%, OTM: -31% — strong bullish (ITM/ATM aligned)
Sector Relative≤40% or ≥60%
Sector P/C percentile 84% — very bearish vs sector
Activity
Unusual activity?
4.9
QuietActive
Detects volume surges,
block trades
, and unusual options activity that may signal moves.Risk Checks2/9 checks passed
Volume Surge
≥1.5xVolume 1.2x avg — normal
Turnover Rate
≥15%Vol/OI 8.1% — 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 +7.5% (5d) — building
Sector Relative≥60%
Sector activity percentile 61% — active vs sector
Trade Quality
≥30%Large trade volume 0% — mostly retail
Execution Urgency
≥60%Aggressive execution 21% — patient
Flow Conviction
≥30Conviction -28 (bearish) — mixed
Liquidity
Can I trade efficiently?
3.1
IlliquidLiquid
Evaluates
bid-ask spreads
, volume depth, and open interest for trade execution quality.Risk Checks2/8 checks passed
Tradeable Spread
≤5.0%Spread 16.5% — wide
Adequate OI
≥10,000OI 20,474 — adequate
Active Volume
≥500Volume 1,660/day — adequate
Reasonable Cost
≤$0.50$0.82 to cross — expensive
Strike Coverage
≥5 strikes1 liquid strikes — limited options
Sector Relative≤40%
Sector spread percentile 51% — neutral vs sector
Order Book Depth
≥100 contractsDepth 37.9 contracts (bid:24.4 ask:13.5) — thin
Execution Quality
<1.0%Avg slippage 6.49% — poor
Timing
Is now a good time?
7.4
RiskyFavorable
Considers earnings proximity,
time decay
, and event calendar for optimal entry timing.Risk Checks7/9 checks passed
Term Structure Clarity
|slope| ≥5%Slope -14.0% — contango
IV Percentile Clarity
<30 or >70IV percentile 80% — seller opportunity
Event Detection
≥10pts kinkIV kink -6.7pts — no clear event
Theta/Vega Clarity
<0.5 or >2.0θ/ν ratio 4.26 — favors income trades
Expiration Distribution
≥3 expirations3 liquid expirations — flexible
Event Risk
≥60% (safe)safe window: No events detected
Spread Momentum
<1.2 ratioSpread ratio 1.00x — stable
Flow Momentum
≥25% strength + ≥50% consistencyFlow -28% @ 64% consistency — moderate (bearish)
Smart Money Timing
≥40 composite scoreScore 30 (ITM 20% + inst 0%) — retail dominated
Directional Strategy Fit
Option Buyers
Long Calls4.7
bullishIV fair, bearish flow
Long Puts5.6
bearishIV fair, bearish flow
Premium Sellers
Cash-Secured Put4.4
bullishIV fair, bearish flow
Covered Call5.3
bearishIV fair, bearish flow
For educational purposes only. Not investment advice.