Mixed signals. Conditions favor premium sellers.
Is IV priced right?
Measures whether options are cheap, fair, or rich relative to historical and peer
IV Rank 41.2% — elevated vs history
IV/HV 0.98x — IV ≤ HV
Sector percentile 36% — below sector median
Front/Back 1.18x — backwardation
Put/Call IV 1.16x — elevated
ATM IV 33.7% — normal range
Effective IV 66.7% (ATM 33.7% + spread 16.5% + bias) — fair
Total drag 24.52% (spread 16.48% + slippage 8.04%) — high friction
Vega efficiency 9.23 (vega 15.209 / spread 16.48%) — efficient
Bullish or bearish?
Analyzes
Conviction-weighted: +25% (bullish) — Raw: +34%
|OI skew| 18.5% — call-heavy
Vol skew +4.4%, OI skew +18.5% — weak (same direction)
0-DTE 52%, far-OTM 15%, avg DTE 30
OI change +0.0% (5d) — stable
ITM: +33%, ATM: +44%, OTM: +28% — strong bullish (ITM/ATM aligned)
Sector P/C percentile 60% — bearish vs sector
Unusual activity?
Detects volume surges,
Volume 0.4x avg — normal
Vol/OI 3.0% — normal turnover
Top 3 strikes = 50% — dispersed
1 day(s) elevated — may be one-day event
OI change +2.1% (5d) — building
Sector activity percentile 44% — neutral vs sector
Large trade volume 0% — mostly retail
Aggressive execution 30% — patient
Conviction +25 (bullish) — mixed
Can I trade efficiently?
Evaluates
Spread 16.5% — wide
OI 9,163 — thin
Volume 272/day — thin
$0.82 to cross — expensive
1 liquid strikes — limited options
Sector spread percentile 39% — tighter than sector
Depth 16.4 contracts (bid:7.8 ask:8.6) — thin
Avg slippage 8.04% — poor
Is now a good time?
Considers earnings proximity,
Slope +17.7% — backwardation
IV percentile 41% — neutral
IV kink 5.0pts — no clear event
θ/ν ratio 5.80 — favors income trades
3 liquid expirations — flexible
safe window: Earnings in 20d (low risk)
Spread ratio 1.00x — stable
Flow +25% @ 62% consistency — unclear
Score 30 (ITM 20% + inst 0%) — retail dominated
For educational purposes only. Not investment advice.