Options/PTON

PTONPeloton Interactive, Inc. Class A Common Stock

Options Analysis Report•SPORTING & ATHLETIC GOODS, NEC

Market Cap $2.4B|NASDAQ

● 2026-08-31$5.36

BULLISH

Analysis: 2026-08-28 EOD data

1Y -27.2%YTD -12.4%7D -0.4%

Options Vol

13,755

30D

Implied Move

±13.1%

IV Rank

PTON Options Overview

bullish flow. No clear edge detected.

REWARDS

RISK ANALYSIS

Snowflake Analysis

Balanced conditions with no clear edge

Learn

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PTON Gamma Walls

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PTON Hedge Radar

No action needed

Full Hedge Radar

Fragility reads low; protection is priced cheap. Neither axis is a forecast — this is where PTON sits on protection cost vs. fragility today.

Protection is priced in the cheap band (2.73) — options are pricing vol 39% below what the stock has actually been realizing, and near-dated vol is priced 8% below far-dated, measured against this name's own rolling 19-trading-day realized moves (485 overlapping windows). Fragility reads resilient (3.66): it is trading 8% above its hedge wall on a wall graded MEDIUM for reliability, and its realized-vol regime is stable.

Protection cost

2.73/ 10cheap

Basis: cross_sectional

Fragility

3.66/ 10resilient

Basis: per_ticker

Value

Is IV priced right?

6.7

ExpensiveCheap

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

levels.

Risk Checks5/9 checks passed

IV Rank

≤35%

IV Rank 69.5% — elevated vs history

IV/HV Ratio

<1.05x

IV/HV 0.61x — IV ≤ HV

Sector Relative≤50%

Sector percentile 63% — above sector median

Term Structure

<1.1x

Front/Back 0.92x — contango

Skew Normal

<1.25x

Put/Call IV 1.16x — elevated

Absolute IV

<80%

ATM IV 44.3% — normal range

Spread-Adjusted Value

<80%

Effective IV 64.8% (ATM 44.3% + spread 10.2% + bias) — good value

Execution Efficiency

<3.0%

Total drag 16.83% (spread 10.25% + slippage 6.58%) — high friction

Vega Efficiency

≥5.0

Vega efficiency 0.29 (vega 0.299 / spread 10.25%) — spread drag

Sentiment

Bullish or bearish?

7.7

BearishBullish

Analyzes

put/call ratios

open interest skew

, and flow direction to determine market bias.

Risk ChecksVery Bullish - Strong signal (Conviction: +34%, Raw: +32%)

Flow Direction

|net sentiment| ≥25%

Conviction-weighted: +34% (strong bullish) — Raw: +32%

OI Skew Magnitude

≥15%

|OI skew| 40.7% — call-heavy

Volume-OI Alignment

Same sign, |vol skew| ≥10%

Vol skew +73.9%, OI skew +40.7% — aligned

Conviction Quality

≥2/3 conditions

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

OI Momentum

|change| ≥3%

OI change +0.0% (5d) — stable

Smart Money Flow

|weighted flow| ≥20%

ITM: -24%, ATM: +15%, OTM: +52% — neutral (ITM/ATM divergent)

Sector Relative≤40% or ≥60%

Sector P/C percentile 15% — very bullish vs sector

Activity

Unusual activity?

3.9

QuietActive

Detects volume surges,

block trades

, and unusual options activity that may signal moves.

Risk Checks2/8 checks passed

Volume Surge

≥1.5x

Volume 0.6x avg — normal

Turnover Rate

≥15%

Vol/OI 1.7% — normal turnover

Multi-Day Persistence

≥2 days

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

OI Build

≥5%

OI change +3.8% (5d) — building

Sector Relative≥60%

Sector activity percentile 47% — neutral vs sector

Trade Quality

≥30%

Large trade volume 41% — institutional presence

Execution Urgency

≥60%

Aggressive execution 38% — patient

Flow Conviction

≥30

Conviction +34 (bullish) — moderate

Liquidity

Can I trade efficiently?

4.5

IlliquidLiquid

Evaluates

bid-ask spreads

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

Risk Checks3/8 checks passed

Tradeable Spread

≤5.0%

Spread 10.2% — wide

Adequate OI

≥10,000

OI 800,680 — deep

Active Volume

≥500

Volume 13,755/day — active

Reasonable Cost

≤$0.50

$0.51 to cross — expensive

Strike Coverage

≥5 strikes

0 liquid strikes — limited options

Sector Relative≤40%

Sector spread percentile 80% — wider than sector

Order Book Depth

≥100 contracts

Depth 1,045.1 contracts (bid:493.4 ask:551.7) — deep

Execution Quality

<1.0%

Avg slippage 6.58% — poor

Timing

Is now a good time?

7.8

RiskyFavorable

Considers earnings proximity,

time decay

, and event calendar for optimal entry timing.

Risk Checks7/9 checks passed

Term Structure Clarity

|slope| ≥5%

Slope -8.5% — contango

IV Percentile Clarity

<30 or >70

IV percentile 70% — neutral

Event Detection

≥10pts kink

IV kink -2.8pts — no clear event

Theta/Vega Clarity

<0.5 or >2.0

θ/ν ratio 33.95 — favors income trades

Expiration Distribution

≥3 expirations

3 liquid expirations — flexible

Event Risk

≥60% (safe)

safe window: No events detected

Spread Momentum

<1.2 ratio

Spread ratio 1.00x — stable

Flow Momentum

≥25% strength + ≥50% consistency

Flow +34% @ 67% consistency — moderate (bullish)

Smart Money Timing

≥40 composite score

Score 71 (ITM 20% + inst 41%) — HIGH institutional

Directional Strategy Fit

Option Buyers

Long Calls7.6

bullishIV cheap, bullish flow

Long Puts5.0

bearishIV cheap, bullish flow

Premium Sellers

Cash-Secured Put5.8

bullishIV too cheap, bullish flow

Covered Call3.9

bearishIV too cheap, bullish flow

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.

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