PRAXPraxis Precision Medicines, Inc. Common Stock
PRAX Options Overview
IV is elevated. Conditions favor premium sellers.
REWARDS
RISK ANALYSIS
PRAX Gamma Walls
Value
Is IV priced right?
Measures whether options are cheap, fair, or rich relative to historical and peer
IV Rank 83.8% — elevated vs history
IV/HV 0.94x — IV ≤ HV
Sector percentile 62% — above sector median
Front/Back 0.75x — contango
Put/Call IV 1.16x — elevated
ATM IV 64.0% — normal range
Effective IV 96.4% (ATM 64.0% + spread 16.2% + bias) — expensive
Total drag 20.56% (spread 16.18% + slippage 4.38%) — high friction
Vega efficiency 97.05 (vega 157.024 / spread 16.18%) — efficient
Sentiment
Bullish or bearish?
Analyzes
Conviction-weighted: -30% (bearish) — Raw: -33%
|OI skew| 35.9% — put-heavy
Vol skew +27.3%, OI skew -35.9% — divergent (opposite)
0-DTE 0%, far-OTM 15%, avg DTE 30
OI change +0.0% (5d) — stable
ITM: -100%, ATM: +25%, OTM: -50% — strong bearish (ITM/ATM divergent)
Sector P/C percentile 51% — neutral vs sector
Activity
Unusual activity?
Detects volume surges,
Volume 0.1x avg — normal
Vol/OI 0.3% — normal turnover
1 day(s) elevated — may be one-day event
OI change -8.9% (5d) — unwinding
Sector activity percentile 15% — quiet vs sector
Large trade volume 0% — mostly retail
Aggressive execution 24% — patient
Conviction -30 (bearish) — mixed
Liquidity
Can I trade efficiently?
Evaluates
Spread 16.2% — wide
OI 13,517 — adequate
Volume 44/day — thin
$0.81 to cross — expensive
0 liquid strikes — limited options
Sector spread percentile 84% — much wider than sector
Depth 13.4 contracts (bid:7.2 ask:6.2) — thin
Avg slippage 4.38% — poor
Timing
Is now a good time?
Considers earnings proximity,
Slope -24.6% — contango
IV percentile 84% — seller opportunity
IV kink -12.1pts — no clear event
θ/ν ratio 1309.63 — favors income trades
4 liquid expirations — flexible
safe window: No earnings detected
Spread ratio 1.00x — stable
Flow -30% @ 64% consistency — moderate (bearish)
Score 30 (ITM 20% + inst 0%) — retail dominated
Directional Strategy Fit
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.