IV is elevated with unusual activity. Conditions favor premium sellers.
Is IV priced right?
Measures whether options are cheap, fair, or rich relative to historical and peer
IV Rank 82.8% — elevated vs history
IV/HV 0.97x — IV ≤ HV
Sector percentile 52% — above sector median
Front/Back 1.06x — backwardation
Put/Call IV 1.16x — elevated
ATM IV 69.1% — normal range
Effective IV 96.5% (ATM 69.1% + spread 13.7% + bias) — expensive
Total drag 20.14% (spread 13.69% + slippage 6.45%) — high friction
Vega efficiency 7.37 (vega 10.088 / spread 13.69%) — efficient
Bullish or bearish?
Analyzes
Conviction-weighted: -34% (strong bearish) — Raw: -39%
|OI skew| 49.1% — call-heavy
Vol skew +77.7%, OI skew +49.1% — aligned
0-DTE 0%, far-OTM 15%, avg DTE 30
OI change +0.0% (5d) — stable
ITM: -17%, ATM: +3%, OTM: -42% — neutral (ITM/ATM divergent)
Sector P/C percentile 24% — very bullish vs sector
Unusual activity?
Detects volume surges,
Volume 1.3x avg — normal
Vol/OI 16.2% — high turnover
Top 3 strikes = 50% — dispersed
1 day(s) elevated — may be one-day event
OI change -17.3% (5d) — unwinding
Sector activity percentile 95% — very active vs sector
Large trade volume 3% — mostly retail
Aggressive execution 46% — patient
Conviction -34 (bearish) — moderate
Can I trade efficiently?
Evaluates
Spread 13.7% — wide
OI 91,584 — deep
Volume 14,808/day — active
$0.68 to cross — expensive
0 liquid strikes — limited options
Sector spread percentile 72% — wider than sector
Depth 173.8 contracts (bid:110.5 ask:63.3) — adequate
Avg slippage 6.45% — poor
Is now a good time?
Considers earnings proximity,
Slope +5.7% — backwardation
IV percentile 83% — seller opportunity
IV kink 7.7pts — no clear event
θ/ν ratio 136.70 — favors income trades
4 liquid expirations — flexible
caution advised: No earnings detected; CPI in 1d (HIGH)
Spread ratio 1.00x — stable
Flow -34% @ 67% consistency — moderate (bearish)
Score 33 (ITM 20% + inst 3%) — retail dominated
For educational purposes only. Not investment advice.