unusual activity. No clear edge detected.
Is IV priced right?
Measures whether options are cheap, fair, or rich relative to historical and peer
IV Rank 41.9% — elevated vs history
IV/HV 1.70x — IV premium over HV
Sector percentile 59% — above sector median
Front/Back 1.40x — backwardation
Put/Call IV 1.16x — elevated
ATM IV 35.2% — normal range
Effective IV 79.0% (ATM 35.2% + spread 21.9% + bias) — fair
Total drag 27.67% (spread 21.91% + slippage 5.76%) — high friction
Vega efficiency 0.60 (vega 1.322 / spread 21.91%) — spread drag
Bullish or bearish?
Analyzes
Conviction-weighted: -29% (bearish) — Raw: -18%
|OI skew| 15.7% — call-heavy
Vol skew +57.5%, OI skew +15.7% — aligned
0-DTE 6%, far-OTM 15%, avg DTE 30
OI change +0.0% (5d) — stable
ITM: +11%, ATM: -28%, OTM: +8% — neutral (ITM/ATM divergent)
Sector P/C percentile 15% — very bullish vs sector
Unusual activity?
Detects volume surges,
Volume 3.3x avg — hot
Vol/OI 19.7% — high turnover
Top 3 strikes = 50% — dispersed
1 day(s) elevated — may be one-day event
OI change +21.9% (5d) — building
Sector activity percentile 94% — very active vs sector
Large trade volume 54% — heavy institutional
Aggressive execution 34% — patient
Conviction -29 (bearish) — mixed
Can I trade efficiently?
Evaluates
Spread 21.9% — wide
OI 87,616 — deep
Volume 17,281/day — active
$1.10 to cross — expensive
0 liquid strikes — limited options
Sector spread percentile 65% — wider than sector
Depth 522.8 contracts (bid:219.9 ask:302.9) — deep
Avg slippage 5.76% — poor
Is now a good time?
Considers earnings proximity,
Slope +39.9% — backwardation
IV percentile 42% — neutral
IV kink 9.7pts — no clear event
θ/ν ratio 3.37 — favors income trades
4 liquid expirations — flexible
acceptable: No earnings detected; FOMC in 5d
Spread ratio 1.00x — stable
Flow -29% @ 64% consistency — moderate (bearish)
Score 84 (ITM 20% + inst 54%) — HIGH institutional
For educational purposes only. Not investment advice.