PAYXPaychex Inc
Options Analysis Report•SERVICES-ENGINEERING, ACCOUNTING, RESEARCH, MANAGEMENT
Market Cap $32.9B|NASDAQ
● 2026-04-17$91.96
BULLISH
Analysis: 2026-04-16 EOD data
1Y -34.5%YTD -15.3%7D +7.5%
Options Vol
1,181
30D
Implied Move
±9.5%
IV Rank
58%
PAYX Options Overview
Mixed signals. No clear edge detected.
REWARDS
RISK ANALYSIS
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Value
Is IV priced right?
5.5
ExpensiveCheap
Measures whether options are cheap, fair, or rich relative to historical and peer
IV
levels.Risk Checks6/9 checks passed
IV Rank
≤35%IV Rank 50.0% — elevated vs history
IV/HV Ratio
<1.05xIV/HV 1.00x — IV ≤ HV
Sector Relative≤50%
Sector percentile 50% — below sector median
Term Structure
<1.1xFront/Back 1.02x — flat
Skew Normal
<1.25xPut/Call IV 1.00x — normal
Absolute IV
<80%ATM IV 0.0% — normal range
Spread-Adjusted Value
<80%Effective IV 26.4% (ATM 0.0% + spread 13.2% + bias) — excellent value
Execution Efficiency
<3.0%Total drag 17.61% (spread 13.22% + slippage 4.39%) — high friction
Vega Efficiency
≥5.0Vega efficiency 0.00 (vega 0.000 / spread 13.22%) — spread drag
Sentiment
Bullish or bearish?
7.5
BearishBullish
Analyzes
put/call ratios
, open interest skew
, and flow direction to determine market bias.Risk ChecksVery Bullish - Strong signal (Conviction: +37%, Raw: +30%)
Flow Direction
|net sentiment| ≥25%Conviction-weighted: +37% (strong bullish) — Raw: +30%
OI Skew Magnitude
≥15%|OI skew| 13.3% — balanced
Volume-OI Alignment
Same sign, |vol skew| ≥10%Vol skew +25.0%, OI skew +13.3% — aligned
Conviction Quality
≥2/3 conditions0-DTE 10%, far-OTM 15%, avg DTE 30
OI Momentum
|change| ≥3%OI change +0.0% (5d) — stable
Smart Money Flow
|weighted flow| ≥20%ITM: +33%, ATM: +31%, OTM: +30% — strong bullish (ITM/ATM aligned)
Sector Relative≤40% or ≥60%
Sector P/C percentile 45% — neutral vs sector
Activity
Unusual activity?
3.5
QuietActive
Detects volume surges,
block trades
, and unusual options activity that may signal moves.Risk Checks2/9 checks passed
Volume Surge
≥1.5xVolume 0.5x avg — normal
Turnover Rate
≥15%Vol/OI 2.4% — 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 +5.9% (5d) — building
Sector Relative≥60%
Sector activity percentile 31% — below sector avg
Trade Quality
≥30%Large trade volume 0% — mostly retail
Execution Urgency
≥60%Aggressive execution 46% — patient
Flow Conviction
≥30Conviction +37 (bullish) — moderate
Liquidity
Can I trade efficiently?
3.7
IlliquidLiquid
Evaluates
bid-ask spreads
, volume depth, and open interest for trade execution quality.Risk Checks4/8 checks passed
Tradeable Spread
≤5.0%Spread 13.2% — wide
Adequate OI
≥10,000OI 48,701 — adequate
Active Volume
≥500Volume 1,181/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 0% — much tighter than sector
Order Book Depth
≥100 contractsDepth 185.5 contracts (bid:91.5 ask:94.0) — adequate
Execution Quality
<1.0%Avg slippage 4.39% — poor
Timing
Is now a good time?
6.1
RiskyFavorable
Considers earnings proximity,
time decay
, and event calendar for optimal entry timing.Risk Checks4/9 checks passed
Term Structure Clarity
|slope| ≥5%Slope +2.1% — flat/unclear
IV Percentile Clarity
<30 or >70IV percentile 50% — neutral
Event Detection
≥10pts kinkIV kink 1.9pts — no clear event
Theta/Vega Clarity
<0.5 or >2.0θ/ν ratio 1.00 — favors mixed
Expiration Distribution
≥3 expirations3 liquid expirations — flexible
Event Risk
≥60% (safe)safe window: No events detected
Spread Momentum
<1.2 ratioSpread ratio 1.00x — stable
Flow Momentum
≥25% strength + ≥50% consistencyFlow +37% @ 68% consistency — moderate (bullish)
Smart Money Timing
≥40 composite scoreScore 30 (ITM 20% + inst 0%) — retail dominated
Directional Strategy Fit
Option Buyers
Long Calls6.0
bullishIV fair, bullish flow
Long Puts4.3
bearishIV fair, bullish flow
Premium Sellers
Cash-Secured Put5.6
bullishIV fair, bullish flow
Covered Call3.9
bearishIV fair, bullish flow
For educational purposes only. Not investment advice.