PNCPNC Financial Services Group
Options Analysis Report•NATIONAL COMMERCIAL BANKS
Market Cap $90.4B|NYSE
● 2026-04-17$224.81
NEUTRAL
Analysis: 2026-04-16 EOD data
1Y +49.7%YTD +6.3%7D +1.7%
Options Vol
2,100
30D
Implied Move
±7.6%
IV Rank
20%
PNC Options Overview
IV is low. Conditions favor option buyers.
REWARDS
RISK ANALYSIS
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Value
Is IV priced right?
7.4
ExpensiveCheap
Measures whether options are cheap, fair, or rich relative to historical and peer
IV
levels.Risk Checks7/9 checks passed
IV Rank
≤35%IV Rank 11.9% — cheap vs history
IV/HV Ratio
<1.05xIV/HV 1.38x — IV premium over HV
Sector Relative≤50%
Sector percentile 12% — below sector median
Term Structure
<1.1xFront/Back 0.99x — contango
Skew Normal
<1.25xPut/Call IV 1.16x — elevated
Absolute IV
<80%ATM IV 26.5% — normal range
Spread-Adjusted Value
<80%Effective IV 60.5% (ATM 26.5% + spread 17.0% + bias) — good value
Execution Efficiency
<3.0%Total drag 23.18% (spread 17.00% + slippage 6.18%) — high friction
Vega Efficiency
≥5.0Vega efficiency 30.06 (vega 51.100 / spread 17.00%) — efficient
Sentiment
Bullish or bearish?
3.8
BearishBullish
Analyzes
put/call ratios
, open interest skew
, and flow direction to determine market bias.Risk ChecksNeutral - Weak signal (Conviction: -7%, Raw: -6%)
Flow Direction
|net sentiment| ≥25%Conviction-weighted: -7% (neutral) — Raw: -6%
OI Skew Magnitude
≥15%|OI skew| 2.1% — balanced
Volume-OI Alignment
Same sign, |vol skew| ≥10%Vol skew -19.6%, OI skew +2.1% — divergent (opposite)
Conviction Quality
≥2/3 conditions0-DTE 71%, far-OTM 15%, avg DTE 30
OI Momentum
|change| ≥3%OI change +0.0% (5d) — stable
Smart Money Flow
|weighted flow| ≥20%ITM: -40%, ATM: +1%, OTM: -14% — bearish (ITM/ATM divergent)
Sector Relative≤40% or ≥60%
Sector P/C percentile 85% — very bearish vs sector
Activity
Unusual activity?
4.2
QuietActive
Detects volume surges,
block trades
, and unusual options activity that may signal moves.Risk Checks1/9 checks passed
Volume Surge
≥1.5xVolume 0.8x avg — normal
Turnover Rate
≥15%Vol/OI 4.7% — 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 +16.2% (5d) — building
Sector Relative≥60%
Sector activity percentile 56% — neutral vs sector
Trade Quality
≥30%Large trade volume 19% — mixed
Execution Urgency
≥60%Aggressive execution 54% — patient
Flow Conviction
≥30Conviction -7 (bearish) — mixed
Liquidity
Can I trade efficiently?
3.6
IlliquidLiquid
Evaluates
bid-ask spreads
, volume depth, and open interest for trade execution quality.Risk Checks3/8 checks passed
Tradeable Spread
≤5.0%Spread 17.0% — wide
Adequate OI
≥10,000OI 44,682 — adequate
Active Volume
≥500Volume 2,100/day — adequate
Reasonable Cost
≤$0.50$0.85 to cross — expensive
Strike Coverage
≥5 strikes0 liquid strikes — limited options
Sector Relative≤40%
Sector spread percentile 16% — much tighter than sector
Order Book Depth
≥100 contractsDepth 94.7 contracts (bid:45.7 ask:49.0) — thin
Execution Quality
<1.0%Avg slippage 6.18% — poor
Timing
Is now a good time?
7.0
RiskyFavorable
Considers earnings proximity,
time decay
, and event calendar for optimal entry timing.Risk Checks6/9 checks passed
Term Structure Clarity
|slope| ≥5%Slope -1.1% — flat/unclear
IV Percentile Clarity
<30 or >70IV percentile 12% — buyer opportunity
Event Detection
≥10pts kinkIV kink 0.2pts — no clear event
Theta/Vega Clarity
<0.5 or >2.0θ/ν ratio 824.20 — favors income trades
Expiration Distribution
≥3 expirations5 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 -7% @ 54% consistency — unclear
Smart Money Timing
≥40 composite scoreScore 49 (ITM 20% + inst 19%) — moderate institutional
Directional Strategy Fit
Option Buyers
Long Calls5.5
bullishIV cheap, bearish flow
Long Puts6.3
bearishIV cheap, bearish flow
Premium Sellers
Cash-Secured Put3.9
bullishIV too cheap, bearish flow
Covered Call4.7
bearishIV too cheap, bearish flow
For educational purposes only. Not investment advice.