PBRPETROLEO BRASILEIRO S.A.-PETROBRAS ADS (REP 1 COMMON SHARE)
Options Analysis Report
Market Cap $114.4B|NYSE
● 2026-06-09$17.75
NEUTRAL
Analysis: 2026-06-08 EOD data
1Y +58.1%YTD +48.9%7D -5.2%
Options Vol
73,682
30D
Implied Move
±9.8%
IV Rank
49%
PBR Options Overview
bearish flow with unusual activity. Conditions favor premium sellers.
REWARDS
RISK ANALYSIS
Loading score history...
Value
Is IV priced right?
6.2
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 45.1% — elevated vs history
IV/HV Ratio
<1.05xIV/HV 1.19x — IV premium over HV
Sector Relative≤50%
Sector percentile 28% — below sector median
Term Structure
<1.1xFront/Back 0.90x — contango
Skew Normal
<1.25xPut/Call IV 1.16x — elevated
Absolute IV
<80%ATM IV 36.2% — normal range
Spread-Adjusted Value
<80%Effective IV 63.8% (ATM 36.2% + spread 13.8% + bias) — good value
Execution Efficiency
<3.0%Total drag 23.57% (spread 13.82% + slippage 9.75%) — high friction
Vega Efficiency
≥5.0Vega efficiency 0.50 (vega 0.698 / spread 13.82%) — spread drag
Sentiment
Bullish or bearish?
4.0
BearishBullish
Analyzes
put/call ratios
, open interest skew
, and flow direction to determine market bias.Risk ChecksNeutral - Moderate signal (Conviction: -8%, Raw: -12%)
Flow Direction
|net sentiment| ≥25%Conviction-weighted: -8% (neutral) — Raw: -12%
OI Skew Magnitude
≥15%|OI skew| 2.9% — balanced
Volume-OI Alignment
Same sign, |vol skew| ≥10%Vol skew -13.7%, OI skew -2.9% — 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: +69%, ATM: -43%, OTM: -14% — bullish (ITM/ATM divergent)
Sector Relative≤40% or ≥60%
Sector P/C percentile 87% — very bearish vs sector
Activity
Unusual activity?
5.6
QuietActive
Detects volume surges,
block trades
, and unusual options activity that may signal moves.Risk Checks4/9 checks passed
Volume Surge
≥1.5xVolume 1.6x avg — elevated
Turnover Rate
≥15%Vol/OI 3.9% — 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 +4.2% (5d) — building
Sector Relative≥60%
Sector activity percentile 83% — very active vs sector
Trade Quality
≥30%Large trade volume 84% — heavy institutional
Execution Urgency
≥60%Aggressive execution 68% — urgent
Flow Conviction
≥30Conviction -8 (bearish) — mixed
Liquidity
Can I trade efficiently?
4.3
IlliquidLiquid
Evaluates
bid-ask spreads
, volume depth, and open interest for trade execution quality.Risk Checks3/8 checks passed
Tradeable Spread
≤5.0%Spread 13.8% — wide
Adequate OI
≥10,000OI 1,889,134 — deep
Active Volume
≥500Volume 73,682/day — active
Reasonable Cost
≤$0.50$0.69 to cross — expensive
Strike Coverage
≥5 strikes0 liquid strikes — limited options
Sector Relative≤40%
Sector spread percentile 56% — neutral vs sector
Order Book Depth
≥100 contractsDepth 993.2 contracts (bid:492.1 ask:501.1) — deep
Execution Quality
<1.0%Avg slippage 9.75% — poor
Timing
Is now a good time?
6.3
RiskyFavorable
Considers earnings proximity,
time decay
, and event calendar for optimal entry timing.Risk Checks5/9 checks passed
Term Structure Clarity
|slope| ≥5%Slope -9.7% — contango
IV Percentile Clarity
<30 or >70IV percentile 45% — neutral
Event Detection
≥10pts kinkIV kink 0.0pts — no clear event
Theta/Vega Clarity
<0.5 or >2.0θ/ν ratio 22.21 — favors income trades
Expiration Distribution
≥3 expirations5 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 -8% @ 54% consistency — unclear
Smart Money Timing
≥40 composite scoreScore 114 (ITM 20% + inst 84%) — HIGH institutional
Directional Strategy Fit
Option Buyers
Long Calls5.2
bullishIV cheap, mixed flow
Long Puts5.9
bearishIV cheap, mixed flow
Premium Sellers
Cash-Secured Put4.4
bullishIV too cheap, mixed flow
Covered Call5.0
bearishIV too cheap, mixed flow
For educational purposes only. Not investment advice.