IV is low. No clear edge detected.
Is IV priced right?
Measures whether options are cheap, fair, or rich relative to historical and peer
IV Rank 24.3% — cheap vs history
IV/HV 1.61x — IV premium over HV
Sector percentile 40% — below sector median
Front/Back 1.11x — backwardation
Put/Call IV 1.16x — elevated
ATM IV 24.9% — normal range
Effective IV 27.5% (ATM 24.9% + spread 1.3% + bias) — excellent value
Total drag 2.45% (spread 1.32% + slippage 1.13%) — acceptable
Vega efficiency 2691.92 (vega 355.334 / spread 1.32%) — efficient
Bullish or bearish?
Analyzes
Conviction-weighted: +1% (neutral) — Raw: +2%
|OI skew| 20.2% — put-heavy
Vol skew -6.5%, OI skew -20.2% — weak (same direction)
0-DTE 51%, far-OTM 15%, avg DTE 30
OI change +0.0% (5d) — stable
ITM: +12%, ATM: -1%, OTM: +9% — neutral (ITM/ATM divergent)
Sector P/C percentile 88% — very bearish vs sector
Unusual activity?
Detects volume surges,
Volume 0.7x avg — normal
Vol/OI 40.7% — high turnover
Top 3 strikes = 50% — dispersed
1 day(s) elevated — may be one-day event
OI change +3.9% (5d) — building
Sector activity percentile 98% — very active vs sector
Large trade volume 27% — mixed
Aggressive execution 84% — highly urgent
Conviction +1 (bullish) — mixed
Can I trade efficiently?
Evaluates
Spread 1.3% — tight
OI 10,814,947 — deep
Volume 4,401,561/day — active
$0.07 to cross — cheap
48 liquid strikes — good coverage
Sector spread percentile 49% — neutral vs sector
Depth 205.8 contracts (bid:103.1 ask:102.7) — adequate
Avg slippage 1.13% — fair
Is now a good time?
Considers earnings proximity,
Slope +10.7% — backwardation
IV percentile 24% — buyer opportunity
IV kink 3.4pts — no clear event
θ/ν ratio 4160.81 — favors income trades
5 liquid expirations — flexible
safe window: No earnings detected
Spread ratio 1.00x — stable
Flow +1% @ 51% consistency — unclear
Score 57 (ITM 20% + inst 27%) — moderate institutional
For educational purposes only. Not investment advice.