LENLennar Corporation Class A
Options Analysis Report•GENERAL BLDG CONTRACTORS - RESIDENTIAL BLDGS
Market Cap $22.9B|NYSE
● 2026-04-17$92.79
NEUTRAL
Analysis: 2026-04-16 EOD data
1Y -10.5%YTD -11.0%7D +4.3%
Options Vol
3,001
30D
Implied Move
±12.2%
IV Rank
44%
LEN Options Overview
IV is elevated. No clear edge detected.
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 Checks5/9 checks passed
IV Rank
≤35%IV Rank 71.3% — elevated vs history
IV/HV Ratio
<1.05xIV/HV 1.16x — IV premium over HV
Sector Relative≤50%
Sector percentile 65% — above sector median
Term Structure
<1.1xFront/Back 1.03x — flat
Skew Normal
<1.25xPut/Call IV 1.16x — elevated
Absolute IV
<80%ATM IV 42.8% — normal range
Spread-Adjusted Value
<80%Effective IV 75.3% (ATM 42.8% + spread 16.3% + bias) — fair
Execution Efficiency
<3.0%Total drag 19.66% (spread 16.27% + slippage 3.39%) — high friction
Vega Efficiency
≥5.0Vega efficiency 18.43 (vega 29.987 / spread 16.27%) — efficient
Sentiment
Bullish or bearish?
6.6
BearishBullish
Analyzes
put/call ratios
, open interest skew
, and flow direction to determine market bias.Risk ChecksVery Bullish - Weak signal (Conviction: +32%, Raw: +28%)
Flow Direction
|net sentiment| ≥25%Conviction-weighted: +32% (strong bullish) — Raw: +28%
OI Skew Magnitude
≥15%|OI skew| 2.7% — balanced
Volume-OI Alignment
Same sign, |vol skew| ≥10%Vol skew +19.8%, OI skew -2.7% — divergent (opposite)
Conviction Quality
≥2/3 conditions0-DTE 30%, far-OTM 15%, avg DTE 30
OI Momentum
|change| ≥3%OI change +0.0% (5d) — stable
Smart Money Flow
|weighted flow| ≥20%ITM: +23%, ATM: -15%, OTM: +37% — neutral (ITM/ATM divergent)
Sector Relative≤40% or ≥60%
Sector P/C percentile 42% — bullish vs sector
Activity
Unusual activity?
3.3
QuietActive
Detects volume surges,
block trades
, and unusual options activity that may signal moves.Risk Checks2/9 checks passed
Volume Surge
≥1.5xVolume 0.4x avg — normal
Turnover Rate
≥15%Vol/OI 2.6% — 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 +5.1% (5d) — building
Sector Relative≥60%
Sector activity percentile 26% — below sector avg
Trade Quality
≥30%Large trade volume 7% — mostly retail
Execution Urgency
≥60%Aggressive execution 24% — patient
Flow Conviction
≥30Conviction +32 (bullish) — moderate
Liquidity
Can I trade efficiently?
3.3
IlliquidLiquid
Evaluates
bid-ask spreads
, volume depth, and open interest for trade execution quality.Risk Checks3/8 checks passed
Tradeable Spread
≤5.0%Spread 16.3% — wide
Adequate OI
≥10,000OI 114,633 — deep
Active Volume
≥500Volume 3,001/day — adequate
Reasonable Cost
≤$0.50$0.81 to cross — expensive
Strike Coverage
≥5 strikes1 liquid strikes — limited options
Sector Relative≤40%
Sector spread percentile 66% — wider than sector
Order Book Depth
≥100 contractsDepth 154.3 contracts (bid:83.5 ask:70.8) — adequate
Execution Quality
<1.0%Avg slippage 3.39% — poor
Timing
Is now a good time?
7.3
RiskyFavorable
Considers earnings proximity,
time decay
, and event calendar for optimal entry timing.Risk Checks6/9 checks passed
Term Structure Clarity
|slope| ≥5%Slope +3.3% — flat/unclear
IV Percentile Clarity
<30 or >70IV percentile 71% — seller opportunity
Event Detection
≥10pts kinkIV kink 1.9pts — no clear event
Theta/Vega Clarity
<0.5 or >2.0θ/ν ratio 1153.33 — favors income trades
Expiration Distribution
≥3 expirations5 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 +32% @ 66% consistency — moderate (bullish)
Smart Money Timing
≥40 composite scoreScore 37 (ITM 20% + inst 7%) — retail dominated
Directional Strategy Fit
Option Buyers
Long Calls5.8
bullishIV fair, bullish flow
Long Puts4.6
bearishIV fair, bullish flow
Premium Sellers
Cash-Secured Put5.5
bullishIV fair, bullish flow
Covered Call4.3
bearishIV fair, bullish flow
For educational purposes only. Not investment advice.