Options/ROKU

ROKURoku, Inc. Class A Common Stock

Options Analysis Report•CABLE & OTHER PAY TELEVISION SERVICES

Market Cap $23.4B|NASDAQ

● 2026-08-31$157.68

NEUTRAL

Analysis: 2026-08-28 EOD data

1Y +64.5%YTD +45.0%7D -0.3%

Options Vol

4,611

30D

Implied Move

±4.9%

IV Rank

ROKU Options Overview

IV is low with unusual activity. Conditions favor option buyers.

REWARDS

RISK ANALYSIS

Snowflake Analysis

Favorable conditions for option buyers

Learn

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ROKU Gamma Walls

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ROKU Hedge Radar

No action needed

Full Hedge Radar

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

Protection is priced in the cheap band (1.23) — the move being priced is 0.38x this name's own median 19-trading-day move, and implied vol sits in the 3th percentile of its own past year, measured against this name's own rolling 19-trading-day realized moves (485 overlapping windows). Fragility reads resilient (1.01): it is trading 10% above its hedge wall on a wall graded HIGH for reliability, and its realized-vol regime is contracting.

Protection cost

1.23/ 10cheap

Basis: cross_sectional

Fragility

1.01/ 10resilient

Basis: per_ticker

Value

Is IV priced right?

9.1

ExpensiveCheap

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

levels.

Risk Checks7/9 checks passed

IV Rank

≤35%

IV Rank 17.9% — cheap vs history

IV/HV Ratio

<1.05x

IV/HV 1.11x — IV premium over HV

Sector Relative≤50%

Sector percentile 0% — below sector median

Term Structure

<1.1x

Front/Back 0.93x — contango

Skew Normal

<1.25x

Put/Call IV 1.16x — elevated

Absolute IV

<80%

ATM IV 18.4% — normal range

Spread-Adjusted Value

<80%

Effective IV 46.5% (ATM 18.4% + spread 14.1% + bias) — excellent value

Execution Efficiency

<3.0%

Total drag 29.34% (spread 14.05% + slippage 15.29%) — high friction

Vega Efficiency

≥5.0

Vega efficiency 37.80 (vega 53.115 / spread 14.05%) — efficient

Sentiment

Bullish or bearish?

5.0

BearishBullish

Analyzes

put/call ratios

open interest skew

, and flow direction to determine market bias.

Risk ChecksVery Bearish - Moderate signal (Conviction: -35%, Raw: -36%)

Flow Direction

|net sentiment| ≥25%

Conviction-weighted: -35% (strong bearish) — Raw: -36%

OI Skew Magnitude

≥15%

|OI skew| 4.6% — balanced

Volume-OI Alignment

Same sign, |vol skew| ≥10%

Vol skew +67.2%, OI skew +4.6% — 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: +3%, ATM: -13%, OTM: -53% — neutral (ITM/ATM divergent)

Sector Relative≤40% or ≥60%

Sector P/C percentile 25% — very bullish vs sector

Activity

Unusual activity?

4.7

QuietActive

Detects volume surges,

block trades

, and unusual options activity that may signal moves.

Risk Checks4/8 checks passed

Volume Surge

≥1.5x

Volume 0.6x avg — normal

Turnover Rate

≥15%

Vol/OI 3.8% — normal turnover

Multi-Day Persistence

≥2 days

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

OI Build

≥5%

OI change +9.1% (5d) — building

Sector Relative≥60%

Sector activity percentile 71% — active vs sector

Trade Quality

≥30%

Large trade volume 41% — institutional presence

Execution Urgency

≥60%

Aggressive execution 28% — patient

Flow Conviction

≥30

Conviction -35 (bearish) — moderate

Liquidity

Can I trade efficiently?

3.6

IlliquidLiquid

Evaluates

bid-ask spreads

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

Risk Checks2/8 checks passed

Tradeable Spread

≤5.0%

Spread 14.1% — wide

Adequate OI

≥10,000

OI 121,329 — deep

Active Volume

≥500

Volume 4,611/day — adequate

Reasonable Cost

≤$0.50

$0.70 to cross — expensive

Strike Coverage

≥5 strikes

2 liquid strikes — limited options

Sector Relative≤40%

Sector spread percentile 54% — neutral vs sector

Order Book Depth

≥100 contracts

Depth 62.4 contracts (bid:31.7 ask:30.7) — thin

Execution Quality

<1.0%

Avg slippage 15.29% — poor

Timing

Is now a good time?

7.4

RiskyFavorable

Considers earnings proximity,

time decay

, and event calendar for optimal entry timing.

Risk Checks8/9 checks passed

Term Structure Clarity

|slope| ≥5%

Slope -7.5% — contango

IV Percentile Clarity

<30 or >70

IV percentile 18% — buyer opportunity

Event Detection

≥10pts kink

IV kink -0.8pts — no clear event

Theta/Vega Clarity

<0.5 or >2.0

θ/ν ratio 2133.12 — favors income trades

Expiration Distribution

≥3 expirations

4 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 -35% @ 68% consistency — moderate (bearish)

Smart Money Timing

≥40 composite score

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

Directional Strategy Fit

Option Buyers

Long Calls6.6

bullishIV cheap, mixed flow

Long Puts6.6

bearishIV cheap, mixed flow

Premium Sellers

Cash-Secured Put3.9

bullishIV too cheap, mixed flow

Covered Call3.8

bearishIV too cheap, mixed 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.

More on ROKU

ROKU gamma walls ROKU max pain ROKU IV rank ROKU options flow