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OKTAOkta, Inc. Class A Common Stock

Options Analysis Report•SERVICES-PREPACKAGED SOFTWARE
Market Cap $29.1B|NASDAQ
● 2026-08-31$166.23
NEUTRAL
Analysis: 2026-08-28 EOD data
1Y +85.7%YTD +98.7%7D +26.9%
34,638
30D
±13.7%
17%

OKTA Options Overview

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

REWARDS

RISK ANALYSIS

6.0VALUESENTIMENTACTIVITYLIQUIDITYTIMING

Snowflake Analysis

Favorable conditions for premium sellers

Learn
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OKTA Gamma Walls

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Value

Is IV priced right?

7.5
ExpensiveCheap

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

levels.

Risk Checks7/9 checks passed
≤35%

IV Rank 76.7% — elevated vs history

<1.05x

IV/HV 0.50x — IV ≤ HV

Sector Relative≤50%

Sector percentile 43% — below sector median

<1.1x

Front/Back 0.82x — contango

<1.25x

Put/Call IV 1.16x — elevated

<80%

ATM IV 50.7% — normal range

<80%

Effective IV 68.8% (ATM 50.7% + spread 9.1% + bias) — fair

<3.0%

Total drag 17.27% (spread 9.06% + slippage 8.21%) — high friction

≥5.0

Vega efficiency 17.38 (vega 15.748 / spread 9.06%) — efficient

Sentiment

Bullish or bearish?

4.8
BearishBullish

Analyzes

,
, and flow direction to determine market bias.

Risk ChecksNeutral - Moderate signal (Conviction: -1%, Raw: -1%)
|net sentiment| ≥25%

Conviction-weighted: -1% (neutral) — Raw: -1%

≥15%

|OI skew| 14.6% — balanced

Same sign, |vol skew| ≥10%

Vol skew +5.9%, OI skew -14.6% — divergent (opposite)

≥2/3 conditions

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

|change| ≥3%

OI change +0.0% (5d) — stable

|weighted flow| ≥20%

ITM: -4%, ATM: -16%, OTM: +5% — neutral (ITM/ATM aligned)

Sector Relative≤40% or ≥60%

Sector P/C percentile 64% — bearish vs sector

Activity

Unusual activity?

6.2
QuietActive

Detects volume surges,

, and unusual options activity that may signal moves.

Risk Checks4/8 checks passed
≥1.5x

Volume 2.0x avg — hot

≥15%

Vol/OI 14.4% — normal turnover

≥2 days

3 day(s) elevated — sustained

≥5%

OI change +38.3% (5d) — building

Sector Relative≥60%

Sector activity percentile 92% — very active vs sector

≥30%

Large trade volume 11% — mostly retail

≥60%

Aggressive execution 33% — patient

≥30

Conviction -1 (bearish) — mixed

Liquidity

Can I trade efficiently?

4.5
IlliquidLiquid

Evaluates

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

Risk Checks3/8 checks passed
≤5.0%

Spread 9.1% — wide

≥10,000

OI 241,036 — deep

≥500

Volume 34,638/day — active

≤$0.50

$0.45 to cross — cheap

≥5 strikes

0 liquid strikes — limited options

Sector Relative≤40%

Sector spread percentile 65% — wider than sector

≥100 contracts

Depth 78.2 contracts (bid:38.2 ask:40.0) — thin

<1.0%

Avg slippage 8.21% — poor

Timing

Is now a good time?

7.2
RiskyFavorable

Considers earnings proximity,

, and event calendar for optimal entry timing.

Risk Checks7/9 checks passed
|slope| ≥5%

Slope -17.6% — contango

<30 or >70

IV percentile 77% — seller opportunity

≥10pts kink

IV kink -3.2pts — no clear event

<0.5 or >2.0

θ/ν ratio 80.93 — favors income trades

≥3 expirations

5 liquid expirations — flexible

≥60% (safe)

safe window: No events detected

<1.2 ratio

Spread ratio 1.00x — stable

≥25% strength + ≥50% consistency

Flow -1% @ 51% consistency — unclear

≥40 composite score

Score 41 (ITM 20% + inst 11%) — moderate institutional

Directional Strategy Fit

Option Buyers
Long Calls6.1
bullishIV cheap, mixed flow
Long Puts6.2
bearishIV cheap, mixed flow
Premium Sellers
Cash-Secured Put4.4
bullishIV too cheap, mixed flow
Covered Call4.5
bearishIV too cheap, 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.

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