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PBRPETROLEO BRASILEIRO S.A.-PETROBRAS ADS (REP 1 COMMON SHARE)

Options Analysis Report
Market Cap $119.4B|NYSE
● 2026-08-28$18.53
BULLISH
Analysis: 2026-08-27 EOD data
1Y +49.4%YTD +55.5%7D -3.2%
273,645
30D
±8.7%
20%

PBR Options Overview

bullish flow with unusual activity. No clear edge detected.

REWARDS

RISK ANALYSIS

6.2VALUESENTIMENTACTIVITYLIQUIDITYTIMING

Snowflake Analysis

Balanced conditions with no clear edge

Learn
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PBR Gamma Walls

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Value

Is IV priced right?

6.5
ExpensiveCheap

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

levels.

Risk Checks5/9 checks passed
≤35%

IV Rank 54.7% — elevated vs history

<1.05x

IV/HV 1.10x — IV premium over HV

Sector Relative≤50%

Sector percentile 41% — below sector median

<1.1x

Front/Back 0.81x — contango

<1.25x

Put/Call IV 1.16x — elevated

<80%

ATM IV 35.7% — normal range

<80%

Effective IV 53.2% (ATM 35.7% + spread 8.7% + bias) — good value

<3.0%

Total drag 13.36% (spread 8.73% + slippage 4.63%) — high friction

≥5.0

Vega efficiency 2.29 (vega 2.002 / spread 8.73%) — spread drag

Sentiment

Bullish or bearish?

5.4
BearishBullish

Analyzes

,
, and flow direction to determine market bias.

Risk ChecksBearish - Moderate signal (Conviction: -23%, Raw: +1%)
|net sentiment| ≥25%

Conviction-weighted: -23% (bearish) — Raw: +1%

≥15%

|OI skew| 3.4% — balanced

Same sign, |vol skew| ≥10%

Vol skew +84.0%, OI skew +3.4% — aligned

≥2/3 conditions

0-DTE 2%, far-OTM 15%, avg DTE 30

|change| ≥3%

OI change +0.0% (5d) — stable

|weighted flow| ≥20%

ITM: -21%, ATM: -6%, OTM: +1% — bearish (ITM/ATM aligned)

Sector Relative≤40% or ≥60%

Sector P/C percentile 17% — very bullish vs sector

Activity

Unusual activity?

6.8
QuietActive

Detects volume surges,

, and unusual options activity that may signal moves.

Risk Checks3/8 checks passed
≥1.5x

Volume 3.7x avg — hot

≥15%

Vol/OI 13.4% — normal turnover

≥2 days

1 day(s) elevated — may be one-day event

≥5%

OI change -3.5% (5d) — unwinding

Sector Relative≥60%

Sector activity percentile 94% — very active vs sector

≥30%

Large trade volume 95% — heavy institutional

≥60%

Aggressive execution 54% — patient

≥30

Conviction -23 (bearish) — mixed

Liquidity

Can I trade efficiently?

5.3
IlliquidLiquid

Evaluates

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

Risk Checks4/8 checks passed
≤5.0%

Spread 8.7% — wide

≥10,000

OI 2,049,095 — deep

≥500

Volume 273,645/day — active

≤$0.50

$0.44 to cross — cheap

≥5 strikes

0 liquid strikes — limited options

Sector Relative≤40%

Sector spread percentile 65% — wider than sector

≥100 contracts

Depth 1,047.4 contracts (bid:593.4 ask:454.0) — deep

<1.0%

Avg slippage 4.63% — poor

Timing

Is now a good time?

7.0
RiskyFavorable

Considers earnings proximity,

, and event calendar for optimal entry timing.

Risk Checks6/9 checks passed
|slope| ≥5%

Slope -18.8% — contango

<30 or >70

IV percentile 55% — neutral

≥10pts kink

IV kink -6.5pts — no clear event

<0.5 or >2.0

θ/ν ratio 192.46 — favors income trades

≥3 expirations

5 liquid expirations — flexible

≥60% (safe)

safe window: No earnings detected

<1.2 ratio

Spread ratio 1.00x — stable

≥25% strength + ≥50% consistency

Flow -23% @ 62% consistency — unclear

≥40 composite score

Score 125 (ITM 20% + inst 95%) — HIGH institutional

Directional Strategy Fit

Option Buyers
Long Calls6.0
bullishIV cheap, mixed flow
Long Puts5.7
bearishIV cheap, mixed flow
Premium Sellers
Cash-Secured Put5.1
bullishIV too cheap, mixed flow
Covered Call4.8
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.