AInvestOption Pilot Program
Options/PDD
P

PDDPDD Holdings Inc. American Depositary Shares

Options Analysis Report
Market Cap $120.5B|NASDAQ
● 2026-08-28$84.69
NEUTRAL
Analysis: 2026-08-27 EOD data
1Y -30.7%YTD -26.8%7D -4.2%
108,582
30D
±9.1%
11%

PDD Options Overview

unusual activity. No clear edge detected.

REWARDS

RISK ANALYSIS

5.7VALUESENTIMENTACTIVITYLIQUIDITYTIMING

Snowflake Analysis

Balanced conditions with no clear edge

Learn
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PDD Gamma Walls

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Value

Is IV priced right?

7.2
ExpensiveCheap

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

levels.

Risk Checks6/9 checks passed
≤35%

IV Rank 50.8% — elevated vs history

<1.05x

IV/HV 1.04x — IV ≤ HV

Sector Relative≤50%

Sector percentile 22% — below sector median

<1.1x

Front/Back 0.90x — contango

<1.25x

Put/Call IV 1.16x — elevated

<80%

ATM IV 33.7% — normal range

<80%

Effective IV 50.1% (ATM 33.7% + spread 8.2% + bias) — good value

<3.0%

Total drag 13.81% (spread 8.21% + slippage 5.60%) — high friction

≥5.0

Vega efficiency 0.00 (vega 0.000 / spread 8.21%) — spread drag

Sentiment

Bullish or bearish?

3.9
BearishBullish

Analyzes

,
, and flow direction to determine market bias.

Risk ChecksBearish - Moderate signal (Conviction: -15%, Raw: -21%)
|net sentiment| ≥25%

Conviction-weighted: -15% (bearish) — Raw: -21%

≥15%

|OI skew| 14.0% — balanced

Same sign, |vol skew| ≥10%

Vol skew -24.8%, OI skew +14.0% — divergent (opposite)

≥2/3 conditions

0-DTE 14%, far-OTM 15%, avg DTE 30

|change| ≥3%

OI change +0.0% (5d) — stable

|weighted flow| ≥20%

ITM: -14%, ATM: +40%, OTM: -47% — neutral (ITM/ATM divergent)

Sector Relative≤40% or ≥60%

Sector P/C percentile 81% — very bearish vs sector

Activity

Unusual activity?

5.5
QuietActive

Detects volume surges,

, and unusual options activity that may signal moves.

Risk Checks3/8 checks passed
≥1.5x

Volume 2.6x avg — hot

≥15%

Vol/OI 10.2% — normal turnover

≥2 days

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

≥5%

OI change -4.8% (5d) — unwinding

Sector Relative≥60%

Sector activity percentile 84% — very active vs sector

≥30%

Large trade volume 70% — heavy institutional

≥60%

Aggressive execution 34% — patient

≥30

Conviction -15 (bearish) — mixed

Liquidity

Can I trade efficiently?

5.2
IlliquidLiquid

Evaluates

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

Risk Checks4/8 checks passed
≤5.0%

Spread 8.2% — wide

≥10,000

OI 1,067,245 — deep

≥500

Volume 108,582/day — active

≤$0.50

$0.41 to cross — cheap

≥5 strikes

0 liquid strikes — limited options

Sector Relative≤40%

Sector spread percentile 58% — neutral vs sector

≥100 contracts

Depth 291.1 contracts (bid:143.9 ask:147.2) — adequate

<1.0%

Avg slippage 5.60% — poor

Timing

Is now a good time?

6.8
RiskyFavorable

Considers earnings proximity,

, and event calendar for optimal entry timing.

Risk Checks5/9 checks passed
|slope| ≥5%

Slope -9.8% — contango

<30 or >70

IV percentile 51% — neutral

≥10pts kink

IV kink -1.3pts — no clear event

<0.5 or >2.0

θ/ν ratio 1.00 — favors mixed

≥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 -15% @ 58% consistency — unclear

≥40 composite score

Score 100 (ITM 20% + inst 70%) — HIGH institutional

Directional Strategy Fit

Option Buyers
Long Calls5.7
bullishIV cheap, bearish flow
Long Puts6.5
bearishIV cheap, bearish flow
Premium Sellers
Cash-Secured Put4.2
bullishIV too cheap, bearish flow
Covered Call5.0
bearishIV too cheap, bearish flow

For educational purposes only. Not investment advice.