IV is elevated with bullish flow and unusual activity. No clear edge detected.
Is IV priced right?
Measures whether options are cheap, fair, or rich relative to historical and peer
IV Rank 71.5% — elevated vs history
IV/HV 1.04x — IV ≤ HV
Sector percentile 83% — above sector median
Front/Back 1.34x — backwardation
Put/Call IV 1.16x — elevated
ATM IV 55.6% — normal range
Effective IV 89.6% (ATM 55.6% + spread 17.0% + bias) — expensive
Total drag 23.74% (spread 17.01% + slippage 6.73%) — high friction
Vega efficiency 16.08 (vega 27.353 / spread 17.01%) — efficient
Bullish or bearish?
Analyzes
Conviction-weighted: +13% (bullish) — Raw: +12%
|OI skew| 42.0% — call-heavy
Vol skew +50.7%, OI skew +42.0% — aligned
0-DTE 0%, far-OTM 15%, avg DTE 30
OI change +0.0% (5d) — stable
ITM: -9%, ATM: +78%, OTM: +19% — strong bullish (ITM/ATM divergent)
Sector P/C percentile 18% — very bullish vs sector
Unusual activity?
Detects volume surges,
Volume 1.4x avg — normal
Vol/OI 4.4% — normal turnover
Top 3 strikes = 50% — dispersed
1 day(s) elevated — may be one-day event
OI change +2.6% (5d) — building
Sector activity percentile 72% — active vs sector
Large trade volume 0% — mostly retail
Aggressive execution 32% — patient
Conviction +13 (bullish) — mixed
Can I trade efficiently?
Evaluates
Spread 17.0% — wide
OI 54,630 — deep
Volume 2,424/day — adequate
$0.85 to cross — expensive
0 liquid strikes — limited options
Sector spread percentile 86% — much wider than sector
Depth 489.0 contracts (bid:172.9 ask:316.1) — adequate
Avg slippage 6.73% — poor
Is now a good time?
Considers earnings proximity,
Slope +33.9% — backwardation
IV percentile 72% — seller opportunity
IV kink 16.0pts — event priced
θ/ν ratio 811.67 — favors income trades
3 liquid expirations — flexible
acceptable: No earnings detected; FOMC in 5d
Spread ratio 1.00x — stable
Flow +13% @ 56% consistency — unclear
Score 30 (ITM 20% + inst 0%) — retail dominated
For educational purposes only. Not investment advice.