MMM3M Company
Options Analysis Report•SURGICAL & MEDICAL INSTRUMENTS & APPARATUS
Market Cap $80.7B|NYSE
● 2026-04-17$154.55
NEUTRAL
Analysis: 2026-04-16 EOD data
1Y +22.6%YTD -4.5%7D +2.8%
Options Vol
2,298
30D
Implied Move
±10.4%
IV Rank
45%
MMM Options Overview
Mixed signals. No clear edge detected.
REWARDS
RISK ANALYSIS
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Value
Is IV priced right?
4.7
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 48.0% — elevated vs history
IV/HV Ratio
<1.05xIV/HV 1.44x — IV premium over HV
Sector Relative≤50%
Sector percentile 47% — below sector median
Term Structure
<1.1xFront/Back 1.64x — backwardation
Skew Normal
<1.25xPut/Call IV 1.16x — elevated
Absolute IV
<80%ATM IV 35.4% — normal range
Spread-Adjusted Value
<80%Effective IV 62.0% (ATM 35.4% + spread 13.3% + bias) — good value
Execution Efficiency
<3.0%Total drag 19.18% (spread 13.29% + slippage 5.89%) — high friction
Vega Efficiency
≥5.0Vega efficiency 41.80 (vega 55.558 / spread 13.29%) — efficient
Sentiment
Bullish or bearish?
4.9
BearishBullish
Analyzes
put/call ratios
, open interest skew
, and flow direction to determine market bias.Risk ChecksNeutral - Moderate signal (Conviction: +2%, Raw: -2%)
Flow Direction
|net sentiment| ≥25%Conviction-weighted: +2% (neutral) — Raw: -2%
OI Skew Magnitude
≥15%|OI skew| 15.4% — put-heavy
Volume-OI Alignment
Same sign, |vol skew| ≥10%Vol skew +3.6%, OI skew -15.4% — divergent (opposite)
Conviction Quality
≥2/3 conditions0-DTE 16%, far-OTM 15%, avg DTE 30
OI Momentum
|change| ≥3%OI change +0.0% (5d) — stable
Smart Money Flow
|weighted flow| ≥20%ITM: -22%, ATM: -11%, OTM: +4% — bearish (ITM/ATM aligned)
Sector Relative≤40% or ≥60%
Sector P/C percentile 61% — bearish vs sector
Activity
Unusual activity?
2.3
QuietActive
Detects volume surges,
block trades
, and unusual options activity that may signal moves.Risk Checks0/9 checks passed
Volume Surge
≥1.5xVolume 0.4x avg — normal
Turnover Rate
≥15%Vol/OI 2.2% — 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 +3.0% (5d) — building
Sector Relative≥60%
Sector activity percentile 27% — below sector avg
Trade Quality
≥30%Large trade volume 0% — mostly retail
Execution Urgency
≥60%Aggressive execution 34% — patient
Flow Conviction
≥30Conviction +2 (bullish) — mixed
Liquidity
Can I trade efficiently?
3.6
IlliquidLiquid
Evaluates
bid-ask spreads
, volume depth, and open interest for trade execution quality.Risk Checks3/8 checks passed
Tradeable Spread
≤5.0%Spread 13.3% — wide
Adequate OI
≥10,000OI 104,302 — deep
Active Volume
≥500Volume 2,298/day — adequate
Reasonable Cost
≤$0.50$0.66 to cross — expensive
Strike Coverage
≥5 strikes0 liquid strikes — limited options
Sector Relative≤40%
Sector spread percentile 49% — neutral vs sector
Order Book Depth
≥100 contractsDepth 132.5 contracts (bid:60.2 ask:72.3) — adequate
Execution Quality
<1.0%Avg slippage 5.89% — poor
Timing
Is now a good time?
6.4
RiskyFavorable
Considers earnings proximity,
time decay
, and event calendar for optimal entry timing.Risk Checks5/9 checks passed
Term Structure Clarity
|slope| ≥5%Slope +64.2% — backwardation
IV Percentile Clarity
<30 or >70IV percentile 48% — neutral
Event Detection
≥10pts kinkIV kink 17.3pts — event priced
Theta/Vega Clarity
<0.5 or >2.0θ/ν ratio 1815.63 — favors income trades
Expiration Distribution
≥3 expirations5 liquid expirations — flexible
Event Risk
≥60% (safe)caution advised: Earnings in 4d (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 30 (ITM 20% + inst 0%) — retail dominated
Directional Strategy Fit
Option Buyers
Long Calls4.8
bullishIV fair, mixed flow
Long Puts4.9
bearishIV fair, mixed flow
Premium Sellers
Cash-Secured Put5.0
bullishIV fair, mixed flow
Covered Call5.1
bearishIV fair, mixed flow
For educational purposes only. Not investment advice.