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MMacy's Inc.

Options Analysis Report•RETAIL-DEPARTMENT STORES
Market Cap $5.8B|NYSE
● 2026-08-28$22.01
NEUTRAL
Analysis: 2026-08-27 EOD data
1Y +63.2%YTD -3.3%7D -5.0%
23,814
30D
±16.0%
15%

M Options Overview

IV is elevated with unusual activity. Conditions favor premium sellers.

REWARDS

RISK ANALYSIS

5.5VALUESENTIMENTACTIVITYLIQUIDITYTIMING

Snowflake Analysis

Balanced conditions with no clear edge

Learn
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M Gamma Walls

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Value

Is IV priced right?

4.2
ExpensiveCheap

Measures whether options are cheap, fair, or rich relative to historical and peer

levels.

Risk Checks3/9 checks passed
≤35%

IV Rank 73.4% — elevated vs history

<1.05x

IV/HV 1.61x — IV premium over HV

Sector Relative≤50%

Sector percentile 78% — above sector median

<1.1x

Front/Back 0.82x — contango

<1.25x

Put/Call IV 1.16x — elevated

<80%

ATM IV 50.0% — normal range

<80%

Effective IV 82.7% (ATM 50.0% + spread 16.4% + bias) — expensive

<3.0%

Total drag 20.98% (spread 16.35% + slippage 4.63%) — high friction

≥5.0

Vega efficiency 1.54 (vega 2.514 / spread 16.35%) — spread drag

Sentiment

Bullish or bearish?

5.4
BearishBullish

Analyzes

,
, and flow direction to determine market bias.

Risk ChecksVery Bullish - Moderate signal (Conviction: +50%, Raw: +48%)
|net sentiment| ≥25%

Conviction-weighted: +50% (strong bullish) — Raw: +48%

≥15%

|OI skew| 7.7% — balanced

Same sign, |vol skew| ≥10%

Vol skew -66.3%, OI skew -7.7% — aligned

≥2/3 conditions

0-DTE 6%, far-OTM 15%, avg DTE 30

|change| ≥3%

OI change +0.0% (5d) — stable

|weighted flow| ≥20%

ITM: +2%, ATM: +5%, OTM: +54% — neutral (ITM/ATM aligned)

Sector Relative≤40% or ≥60%

Sector P/C percentile 93% — very bearish vs sector

Activity

Unusual activity?

6.5
QuietActive

Detects volume surges,

, and unusual options activity that may signal moves.

Risk Checks4/8 checks passed
≥1.5x

Volume 2.4x avg — hot

≥15%

Vol/OI 14.1% — normal turnover

≥2 days

2 day(s) elevated — sustained

≥5%

OI change -5.4% (5d) — unwinding

Sector Relative≥60%

Sector activity percentile 87% — very active vs sector

≥30%

Large trade volume 22% — mixed

≥60%

Aggressive execution 26% — patient

≥30

Conviction +50 (bullish) — strong conviction

Liquidity

Can I trade efficiently?

3.5
IlliquidLiquid

Evaluates

, volume depth, and open interest for trade execution quality.

Risk Checks3/8 checks passed
≤5.0%

Spread 16.4% — wide

≥10,000

OI 169,158 — deep

≥500

Volume 23,814/day — active

≤$0.50

$0.82 to cross — expensive

≥5 strikes

0 liquid strikes — limited options

Sector Relative≤40%

Sector spread percentile 88% — much wider than sector

≥100 contracts

Depth 342.7 contracts (bid:129.7 ask:213.0) — adequate

<1.0%

Avg slippage 4.63% — poor

Timing

Is now a good time?

7.6
RiskyFavorable

Considers earnings proximity,

, and event calendar for optimal entry timing.

Risk Checks8/9 checks passed
|slope| ≥5%

Slope -17.6% — contango

<30 or >70

IV percentile 73% — seller opportunity

≥10pts kink

IV kink -10.3pts — no clear event

<0.5 or >2.0

θ/ν ratio 120.89 — favors income trades

≥3 expirations

5 liquid expirations — flexible

≥60% (safe)

safe window: No earnings detected

<1.2 ratio

Spread ratio 1.00x — stable

≥25% strength + ≥50% consistency

Flow +50% @ 75% consistency — STRONG directional (bullish)

≥40 composite score

Score 52 (ITM 20% + inst 22%) — moderate institutional

Directional Strategy Fit

Option Buyers
Long Calls5.0
bullishIV fair, mixed flow
Long Puts4.8
bearishIV fair, mixed flow
Premium Sellers
Cash-Secured Put5.5
bullishIV fair, mixed flow
Covered Call5.2
bearishIV fair, mixed flow

For educational purposes only. Not investment advice.

The Options Desk tracks the move options price into every US earnings report the week of Aug 31, next to how much each stock has actually moved on its past prints — plus the SPY, QQQ and IWM expected ranges and the gamma walls that box them in.

More on M

M gamma wallsM max painM IV rankM options flow