LMTLockheed Martin Corp.
Options Analysis Report•GUIDED MISSILES & SPACE VEHICLES & PARTS
Market Cap $136.5B|NYSE
● 2026-04-17$592.19
NEUTRAL
Analysis: 2026-04-16 EOD data
1Y +29.2%YTD +19.1%7D -3.5%
Options Vol
10,901
30D
Implied Move
±10.2%
IV Rank
42%
LMT Options Overview
Mixed signals. No clear edge detected.
REWARDS
RISK ANALYSIS
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Value
Is IV priced right?
5.1
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 43.9% — elevated vs history
IV/HV Ratio
<1.05xIV/HV 1.42x — IV premium over HV
Sector Relative≤50%
Sector percentile 40% — below sector median
Term Structure
<1.1xFront/Back 1.52x — backwardation
Skew Normal
<1.25xPut/Call IV 1.16x — elevated
Absolute IV
<80%ATM IV 34.2% — normal range
Spread-Adjusted Value
<80%Effective IV 40.3% (ATM 34.2% + spread 3.0% + bias) — excellent value
Execution Efficiency
<3.0%Total drag 9.63% (spread 3.04% + slippage 6.59%) — high friction
Vega Efficiency
≥5.0Vega efficiency 516.39 (vega 156.983 / spread 3.04%) — efficient
Sentiment
Bullish or bearish?
5.5
BearishBullish
Analyzes
put/call ratios
, open interest skew
, and flow direction to determine market bias.Risk ChecksNeutral - Weak signal (Conviction: +2%, Raw: +4%)
Flow Direction
|net sentiment| ≥25%Conviction-weighted: +2% (neutral) — Raw: +4%
OI Skew Magnitude
≥15%|OI skew| 12.0% — balanced
Volume-OI Alignment
Same sign, |vol skew| ≥10%Vol skew +5.4%, OI skew +12.0% — weak (same direction)
Conviction Quality
≥2/3 conditions0-DTE 62%, far-OTM 15%, avg DTE 30
OI Momentum
|change| ≥3%OI change +0.0% (5d) — stable
Smart Money Flow
|weighted flow| ≥20%ITM: -20%, ATM: -21%, OTM: +25% — bearish (ITM/ATM aligned)
Sector Relative≤40% or ≥60%
Sector P/C percentile 57% — bearish vs sector
Activity
Unusual activity?
4.7
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 10.9% — 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 +8.0% (5d) — building
Sector Relative≥60%
Sector activity percentile 88% — very active vs sector
Trade Quality
≥30%Large trade volume 9% — mostly retail
Execution Urgency
≥60%Aggressive execution 11% — patient
Flow Conviction
≥30Conviction +2 (bullish) — mixed
Liquidity
Can I trade efficiently?
6.5
IlliquidLiquid
Evaluates
bid-ask spreads
, volume depth, and open interest for trade execution quality.Risk Checks4/8 checks passed
Tradeable Spread
≤5.0%Spread 3.0% — acceptable
Adequate OI
≥10,000OI 100,151 — deep
Active Volume
≥500Volume 10,901/day — active
Reasonable Cost
≤$0.50$0.15 to cross — cheap
Strike Coverage
≥5 strikes3 liquid strikes — limited options
Sector Relative≤40%
Sector spread percentile 43% — neutral vs sector
Order Book Depth
≥100 contractsDepth 99.6 contracts (bid:55.5 ask:44.1) — thin
Execution Quality
<1.0%Avg slippage 6.59% — poor
Timing
Is now a good time?
7.0
RiskyFavorable
Considers earnings proximity,
time decay
, and event calendar for optimal entry timing.Risk Checks5/9 checks passed
Term Structure Clarity
|slope| ≥5%Slope +51.5% — backwardation
IV Percentile Clarity
<30 or >70IV percentile 44% — neutral
Event Detection
≥10pts kinkIV kink 13.5pts — event priced
Theta/Vega Clarity
<0.5 or >2.0θ/ν ratio 926.70 — favors income trades
Expiration Distribution
≥3 expirations5 liquid expirations — flexible
Event Risk
≥60% (safe)caution advised: Earnings in 6d (elevated risk)
Spread Momentum
<1.2 ratioSpread ratio 1.00x — stable
Flow Momentum
≥25% strength + ≥50% consistencyFlow +2% @ 51% consistency — unclear
Smart Money Timing
≥40 composite scoreScore 39 (ITM 20% + inst 9%) — retail dominated
Directional Strategy Fit
Option Buyers
Long Calls5.7
bullishIV fair, mixed flow
Long Puts5.4
bearishIV fair, mixed flow
Premium Sellers
Cash-Secured Put5.8
bullishIV fair, mixed flow
Covered Call5.4
bearishIV fair, mixed flow
For educational purposes only. Not investment advice.