PPGPPG Industries, Inc.
Options Analysis Report•PAINTS, VARNISHES, LACQUERS, ENAMELS & ALLIED PRODS
Market Cap $25.7B|NYSE
● 2026-04-17$114.85
BULLISH
Analysis: 2026-04-16 EOD data
1Y +15.5%YTD +10.1%7D +4.1%
Options Vol
1,648
30D
Implied Move
±10.9%
IV Rank
19%
PPG Options Overview
bullish flow. Conditions favor premium sellers.
REWARDS
RISK ANALYSIS
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Value
Is IV priced right?
6.0
ExpensiveCheap
Measures whether options are cheap, fair, or rich relative to historical and peer
IV
levels.Risk Checks6/9 checks passed
IV Rank
≤35%IV Rank 61.8% — elevated vs history
IV/HV Ratio
<1.05xIV/HV 0.90x — IV ≤ HV
Sector Relative≤50%
Sector percentile 45% — below sector median
Term Structure
<1.1xFront/Back 1.04x — flat
Skew Normal
<1.25xPut/Call IV 1.16x — elevated
Absolute IV
<80%ATM IV 39.3% — normal range
Spread-Adjusted Value
<80%Effective IV 78.3% (ATM 39.3% + spread 19.5% + bias) — fair
Execution Efficiency
<3.0%Total drag 35.42% (spread 19.49% + slippage 15.93%) — high friction
Vega Efficiency
≥5.0Vega efficiency 3.25 (vega 6.326 / spread 19.49%) — spread drag
Sentiment
Bullish or bearish?
8.0
BearishBullish
Analyzes
put/call ratios
, open interest skew
, and flow direction to determine market bias.Risk ChecksVery Bullish - Strong signal (Conviction: +43%, Raw: +43%)
Flow Direction
|net sentiment| ≥25%Conviction-weighted: +43% (strong bullish) — Raw: +43%
OI Skew Magnitude
≥15%|OI skew| 52.8% — call-heavy
Volume-OI Alignment
Same sign, |vol skew| ≥10%Vol skew +50.0%, OI skew +52.8% — aligned
Conviction Quality
≥2/3 conditions0-DTE 51%, far-OTM 15%, avg DTE 30
OI Momentum
|change| ≥3%OI change +0.0% (5d) — stable
Smart Money Flow
|weighted flow| ≥20%ITM: -30%, ATM: +86%, OTM: +14% — bullish (ITM/ATM divergent)
Sector Relative≤40% or ≥60%
Sector P/C percentile 15% — very bullish vs sector
Activity
Unusual activity?
5.0
QuietActive
Detects volume surges,
block trades
, and unusual options activity that may signal moves.Risk Checks3/9 checks passed
Volume Surge
≥1.5xVolume 1.1x avg — normal
Turnover Rate
≥15%Vol/OI 6.5% — 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 +3.8% (5d) — building
Sector Relative≥60%
Sector activity percentile 75% — active vs sector
Trade Quality
≥30%Large trade volume 30% — institutional presence
Execution Urgency
≥60%Aggressive execution 23% — patient
Flow Conviction
≥30Conviction +43 (bullish) — moderate
Liquidity
Can I trade efficiently?
3.3
IlliquidLiquid
Evaluates
bid-ask spreads
, volume depth, and open interest for trade execution quality.Risk Checks3/8 checks passed
Tradeable Spread
≤5.0%Spread 19.5% — wide
Adequate OI
≥10,000OI 25,490 — adequate
Active Volume
≥500Volume 1,648/day — adequate
Reasonable Cost
≤$0.50$0.97 to cross — expensive
Strike Coverage
≥5 strikes0 liquid strikes — limited options
Sector Relative≤40%
Sector spread percentile 45% — neutral vs sector
Order Book Depth
≥100 contractsDepth 145.7 contracts (bid:55.2 ask:90.5) — adequate
Execution Quality
<1.0%Avg slippage 15.93% — poor
Timing
Is now a good time?
7.8
RiskyFavorable
Considers earnings proximity,
time decay
, and event calendar for optimal entry timing.Risk Checks6/9 checks passed
Term Structure Clarity
|slope| ≥5%Slope +4.3% — flat/unclear
IV Percentile Clarity
<30 or >70IV percentile 62% — neutral
Event Detection
≥10pts kinkIV kink -0.2pts — no clear event
Theta/Vega Clarity
<0.5 or >2.0θ/ν ratio 48.55 — favors income trades
Expiration Distribution
≥3 expirations5 liquid expirations — flexible
Event Risk
≥60% (safe)acceptable: Earnings in 11d
Spread Momentum
<1.2 ratioSpread ratio 1.00x — stable
Flow Momentum
≥25% strength + ≥50% consistencyFlow +43% @ 71% consistency — STRONG directional (bullish)
Smart Money Timing
≥40 composite scoreScore 60 (ITM 20% + inst 30%) — HIGH institutional
Directional Strategy Fit
Option Buyers
Long Calls6.6
bullishIV cheap, bullish flow
Long Puts4.5
bearishIV cheap, bullish flow
Premium Sellers
Cash-Secured Put5.2
bullishIV too cheap, bullish flow
Covered Call3.7
bearishIV too cheap, bullish flow
For educational purposes only. Not investment advice.