NTRANatera, Inc. Common Stock
Options Analysis Report•SERVICES-MEDICAL LABORATORIES
Market Cap $30.6B|NASDAQ
● 2026-06-09$213.47
NEUTRAL
Analysis: 2026-06-08 EOD data
1Y +30.0%YTD -6.7%7D +0.3%
Options Vol
219
30D
Implied Move
±15.9%
IV Rank
64%
NTRA Options Overview
IV is elevated. Conditions favor premium sellers.
REWARDS
RISK ANALYSIS
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Value
Is IV priced right?
5.3
ExpensiveCheap
Measures whether options are cheap, fair, or rich relative to historical and peer
IV
levels.Risk Checks4/9 checks passed
IV Rank
≤35%IV Rank 74.9% — elevated vs history
IV/HV Ratio
<1.05xIV/HV 1.15x — IV premium over HV
Sector Relative≤50%
Sector percentile 51% — above sector median
Term Structure
<1.1xFront/Back 0.97x — contango
Skew Normal
<1.25xPut/Call IV 1.16x — elevated
Absolute IV
<80%ATM IV 57.1% — normal range
Spread-Adjusted Value
<80%Effective IV 80.4% (ATM 57.1% + spread 11.7% + bias) — expensive
Execution Efficiency
<3.0%Total drag 17.62% (spread 11.66% + slippage 5.96%) — high friction
Vega Efficiency
≥5.0Vega efficiency 11.76 (vega 13.713 / spread 11.66%) — efficient
Sentiment
Bullish or bearish?
6.1
BearishBullish
Analyzes
put/call ratios
, open interest skew
, and flow direction to determine market bias.Risk ChecksNeutral - Strong signal (Conviction: -4%, Raw: +4%)
Flow Direction
|net sentiment| ≥25%Conviction-weighted: -4% (neutral) — Raw: +4%
OI Skew Magnitude
≥15%|OI skew| 19.9% — call-heavy
Volume-OI Alignment
Same sign, |vol skew| ≥10%Vol skew +22.4%, OI skew +19.9% — aligned
Conviction Quality
≥2/3 conditions0-DTE 0%, far-OTM 15%, avg DTE 30
OI Momentum
|change| ≥3%OI change +0.0% (5d) — stable
Smart Money Flow
|weighted flow| ≥20%ITM: -100%, ATM: +54%, OTM: +26% — strong bearish (ITM/ATM divergent)
Sector Relative≤40% or ≥60%
Sector P/C percentile 55% — bearish vs sector
Activity
Unusual activity?
2.2
QuietActive
Detects volume surges,
block trades
, and unusual options activity that may signal moves.Risk Checks0/9 checks passed
Volume Surge
≥1.5xVolume 0.2x avg — normal
Turnover Rate
≥15%Vol/OI 0.7% — 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 +3.7% (5d) — building
Sector Relative≥60%
Sector activity percentile 36% — below sector avg
Trade Quality
≥30%Large trade volume 0% — mostly retail
Execution Urgency
≥60%Aggressive execution 40% — patient
Flow Conviction
≥30Conviction -4 (bearish) — mixed
Liquidity
Can I trade efficiently?
3.0
IlliquidLiquid
Evaluates
bid-ask spreads
, volume depth, and open interest for trade execution quality.Risk Checks1/8 checks passed
Tradeable Spread
≤5.0%Spread 11.7% — wide
Adequate OI
≥10,000OI 29,410 — adequate
Active Volume
≥500Volume 219/day — thin
Reasonable Cost
≤$0.50$0.58 to cross — expensive
Strike Coverage
≥5 strikes0 liquid strikes — limited options
Sector Relative≤40%
Sector spread percentile 81% — much wider than sector
Order Book Depth
≥100 contractsDepth 24.4 contracts (bid:13.8 ask:10.6) — thin
Execution Quality
<1.0%Avg slippage 5.96% — poor
Timing
Is now a good time?
5.6
RiskyFavorable
Considers earnings proximity,
time decay
, and event calendar for optimal entry timing.Risk Checks4/9 checks passed
Term Structure Clarity
|slope| ≥5%Slope -3.5% — flat/unclear
IV Percentile Clarity
<30 or >70IV percentile 75% — seller opportunity
Event Detection
≥10pts kinkIV kink -1.9pts — no clear event
Theta/Vega Clarity
<0.5 or >2.0θ/ν ratio 34.88 — favors income trades
Expiration Distribution
≥3 expirations4 liquid expirations — flexible
Event Risk
≥60% (safe)caution advised: No earnings detected; CPI in 1d (HIGH)
Spread Momentum
<1.2 ratioSpread ratio 1.00x — stable
Flow Momentum
≥25% strength + ≥50% consistencyFlow -4% @ 52% consistency — unclear
Smart Money Timing
≥40 composite scoreScore 30 (ITM 20% + inst 0%) — retail dominated
Directional Strategy Fit
Option Buyers
Long Calls5.3
bullishIV fair, bullish flow
Long Puts4.5
bearishIV fair, bullish flow
Premium Sellers
Cash-Secured Put5.0
bullishIV fair, bullish flow
Covered Call4.2
bearishIV fair, bullish flow
For educational purposes only. Not investment advice.