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 78.0% — elevated vs history
IV/HV 0.99x — IV ≤ HV
Sector percentile 87% — above sector median
Front/Back 1.02x — flat
Put/Call IV 1.16x — elevated
ATM IV 61.0% — normal range
Effective IV 79.3% (ATM 61.0% + spread 9.1% + bias) — fair
Total drag 13.26% (spread 9.14% + slippage 4.12%) — high friction
Vega efficiency 1.20 (vega 1.094 / spread 9.14%) — spread drag
Bullish or bearish?
Analyzes
Conviction-weighted: -17% (bearish) — Raw: -18%
|OI skew| 45.5% — call-heavy
Vol skew +34.9%, OI skew +45.5% — aligned
0-DTE 0%, far-OTM 15%, avg DTE 30
OI change +0.0% (5d) — stable
ITM: -18%, ATM: +27%, OTM: -29% — neutral (ITM/ATM divergent)
Sector P/C percentile 20% — very bullish vs sector
Unusual activity?
Detects volume surges,
Volume 0.6x avg — normal
Vol/OI 3.7% — normal turnover
Top 3 strikes = 50% — dispersed
1 day(s) elevated — may be one-day event
OI change -1.3% (5d) — stable
Sector activity percentile 65% — active vs sector
Large trade volume 27% — mixed
Aggressive execution 42% — patient
Conviction -17 (bearish) — mixed
Can I trade efficiently?
Evaluates
Spread 9.1% — wide
OI 734,288 — deep
Volume 26,900/day — active
$0.46 to cross — cheap
0 liquid strikes — limited options
Sector spread percentile 89% — much wider than sector
Depth 460.5 contracts (bid:267.2 ask:193.3) — adequate
Avg slippage 4.12% — poor
Is now a good time?
Considers earnings proximity,
Slope +1.7% — flat/unclear
IV percentile 78% — seller opportunity
IV kink 2.3pts — no clear event
θ/ν ratio 58.19 — favors income trades
5 liquid expirations — flexible
caution advised: No earnings detected; CPI in 1d (HIGH)
Spread ratio 1.00x — stable
Flow -17% @ 58% consistency — unclear
Score 57 (ITM 20% + inst 27%) — moderate institutional
For educational purposes only. Not investment advice.