IV is elevated. Conditions favor premium sellers.
Is IV priced right?
Measures whether options are cheap, fair, or rich relative to historical and peer
IV Rank 87.2% — elevated vs history
IV/HV 1.28x — IV premium over HV
Sector percentile 92% — above sector median
Front/Back 0.70x — contango
Put/Call IV 1.16x — elevated
ATM IV 84.6% — crisis-level IV
Effective IV 136.9% (ATM 84.6% + spread 26.2% + bias) — expensive
Total drag 29.77% (spread 26.16% + slippage 3.61%) — high friction
Vega efficiency 0.56 (vega 1.461 / spread 26.16%) — spread drag
Bullish or bearish?
Analyzes
Conviction-weighted: -3% (neutral) — Raw: -2%
|OI skew| 27.9% — call-heavy
Vol skew -13.2%, OI skew +27.9% — divergent (opposite)
0-DTE 29%, far-OTM 15%, avg DTE 30
OI change +0.0% (5d) — stable
ITM: -23%, ATM: -1%, OTM: +9% — bearish (ITM/ATM aligned)
Sector P/C percentile 89% — very bearish vs sector
Unusual activity?
Detects volume surges,
Volume 0.5x avg — normal
Vol/OI 5.9% — normal turnover
Top 3 strikes = 50% — dispersed
1 day(s) elevated — may be one-day event
OI change +8.7% (5d) — building
Sector activity percentile 68% — active vs sector
Large trade volume 6% — mostly retail
Aggressive execution 11% — patient
Conviction -3 (bearish) — mixed
Can I trade efficiently?
Evaluates
Spread 26.2% — wide
OI 76,233 — deep
Volume 4,459/day — adequate
$1.31 to cross — expensive
0 liquid strikes — limited options
Sector spread percentile 93% — much wider than sector
Depth 631.7 contracts (bid:379.9 ask:251.8) — deep
Avg slippage 3.61% — poor
Is now a good time?
Considers earnings proximity,
Slope -29.9% — contango
IV percentile 87% — seller opportunity
IV kink -15.6pts — no clear event
θ/ν ratio 21.83 — favors income trades
5 liquid expirations — flexible
safe window: No earnings detected
Spread ratio 1.00x — stable
Flow -3% @ 52% consistency — unclear
Score 36 (ITM 20% + inst 6%) — retail dominated
For educational purposes only. Not investment advice.