LUNRIntuitive Machines, Inc. Class A Common Stock
Options Analysis Report•SEARCH, DETECTION, NAVIGATION, GUIDANCE, AERONAUTICAL SYS
Market Cap $4.4B|NASDAQ
● 2026-04-17$27.58
BULLISH
Analysis: 2026-04-16 EOD data
1Y +291.8%YTD +54.3%7D +17.0%
Options Vol
87,552
30D
Implied Move
±31.4%
IV Rank
64%
LUNR Options Overview
IV is elevated with bullish flow and unusual activity. No clear edge detected.
REWARDS
RISK ANALYSIS
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Value
Is IV priced right?
3.8
ExpensiveCheap
Measures whether options are cheap, fair, or rich relative to historical and peer
IV
levels.Risk Checks3/9 checks passed
IV Rank
≤35%IV Rank 94.0% — elevated vs history
IV/HV Ratio
<1.05xIV/HV 0.79x — IV ≤ HV
Sector Relative≤50%
Sector percentile 94% — above sector median
Term Structure
<1.1xFront/Back 1.10x — backwardation
Skew Normal
<1.25xPut/Call IV 1.16x — elevated
Absolute IV
<80%ATM IV 112.3% — crisis-level IV
Spread-Adjusted Value
<80%Effective IV 131.3% (ATM 112.3% + spread 9.5% + bias) — expensive
Execution Efficiency
<3.0%Total drag 14.25% (spread 9.51% + slippage 4.74%) — high friction
Vega Efficiency
≥5.0Vega efficiency 11.83 (vega 11.254 / spread 9.51%) — efficient
Sentiment
Bullish or bearish?
6.8
BearishBullish
Analyzes
put/call ratios
, open interest skew
, and flow direction to determine market bias.Risk ChecksNeutral - Moderate signal (Conviction: +9%, Raw: +16%)
Flow Direction
|net sentiment| ≥25%Conviction-weighted: +9% (neutral) — Raw: +16%
OI Skew Magnitude
≥15%|OI skew| 18.5% — call-heavy
Volume-OI Alignment
Same sign, |vol skew| ≥10%Vol skew +49.6%, OI skew +18.5% — aligned
Conviction Quality
≥2/3 conditions0-DTE 46%, far-OTM 15%, avg DTE 30
OI Momentum
|change| ≥3%OI change +0.0% (5d) — stable
Smart Money Flow
|weighted flow| ≥20%ITM: +8%, ATM: -2%, OTM: +29% — neutral (ITM/ATM divergent)
Sector Relative≤40% or ≥60%
Sector P/C percentile 39% — bullish vs sector
Activity
Unusual activity?
6.1
QuietActive
Detects volume surges,
block trades
, and unusual options activity that may signal moves.Risk Checks4/9 checks passed
Volume Surge
≥1.5xVolume 1.6x avg — elevated
Turnover Rate
≥15%Vol/OI 26.3% — high 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 +16.6% (5d) — building
Sector Relative≥60%
Sector activity percentile 98% — very active vs sector
Trade Quality
≥30%Large trade volume 22% — mixed
Execution Urgency
≥60%Aggressive execution 42% — patient
Flow Conviction
≥30Conviction +9 (bullish) — mixed
Liquidity
Can I trade efficiently?
4.7
IlliquidLiquid
Evaluates
bid-ask spreads
, volume depth, and open interest for trade execution quality.Risk Checks4/8 checks passed
Tradeable Spread
≤5.0%Spread 9.5% — wide
Adequate OI
≥10,000OI 332,887 — deep
Active Volume
≥500Volume 87,552/day — active
Reasonable Cost
≤$0.50$0.48 to cross — cheap
Strike Coverage
≥5 strikes0 liquid strikes — limited options
Sector Relative≤40%
Sector spread percentile 96% — much wider than sector
Order Book Depth
≥100 contractsDepth 485.4 contracts (bid:297.0 ask:188.4) — adequate
Execution Quality
<1.0%Avg slippage 4.74% — poor
Timing
Is now a good time?
7.9
RiskyFavorable
Considers earnings proximity,
time decay
, and event calendar for optimal entry timing.Risk Checks7/9 checks passed
Term Structure Clarity
|slope| ≥5%Slope +10.4% — backwardation
IV Percentile Clarity
<30 or >70IV percentile 94% — seller opportunity
Event Detection
≥10pts kinkIV kink 7.5pts — no clear event
Theta/Vega Clarity
<0.5 or >2.0θ/ν ratio 1223.30 — favors income trades
Expiration Distribution
≥3 expirations5 liquid expirations — flexible
Event Risk
≥60% (safe)safe window: No earnings detected
Spread Momentum
<1.2 ratioSpread ratio 1.00x — stable
Flow Momentum
≥25% strength + ≥50% consistencyFlow +9% @ 54% consistency — unclear
Smart Money Timing
≥40 composite scoreScore 52 (ITM 20% + inst 22%) — moderate institutional
Directional Strategy Fit
Option Buyers
Long Calls5.6
bullishIV expensive, bullish flow
Long Puts4.3
bearishIV expensive, bullish flow
Premium Sellers
Cash-Secured Put6.3
bullishIV rich premium, bullish flow
Covered Call5.1
bearishIV rich premium, bullish flow
For educational purposes only. Not investment advice.