SCCOSouthern Copper Corporation
Options Analysis Report•METAL MINING
Market Cap $142.2B|NYSE
● 2026-06-09$170.48
NEUTRAL
Analysis: 2026-06-08 EOD data
1Y +82.5%YTD +16.8%7D -15.3%
Options Vol
2,487
30D
Implied Move
±17.6%
IV Rank
82%
SCCO Options Overview
IV is elevated with bearish flow and unusual activity. Conditions favor premium sellers.
REWARDS
RISK ANALYSIS
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Value
Is IV priced right?
3.9
ExpensiveCheap
Measures whether options are cheap, fair, or rich relative to historical and peer
IV
levels.Risk Checks4/9 checks passed
IV Rank
≤35%IV Rank 78.6% — elevated vs history
IV/HV Ratio
<1.05xIV/HV 1.00x — IV ≤ HV
Sector Relative≤50%
Sector percentile 72% — above sector median
Term Structure
<1.1xFront/Back 1.24x — backwardation
Skew Normal
<1.25xPut/Call IV 1.16x — elevated
Absolute IV
<80%ATM IV 61.8% — normal range
Spread-Adjusted Value
<80%Effective IV 85.7% (ATM 61.8% + spread 11.9% + bias) — expensive
Execution Efficiency
<3.0%Total drag 17.73% (spread 11.95% + slippage 5.78%) — high friction
Vega Efficiency
≥5.0Vega efficiency 40.10 (vega 47.921 / spread 11.95%) — efficient
Sentiment
Bullish or bearish?
3.5
BearishBullish
Analyzes
put/call ratios
, open interest skew
, and flow direction to determine market bias.Risk ChecksBearish - Weak signal (Conviction: -19%, Raw: -22%)
Flow Direction
|net sentiment| ≥25%Conviction-weighted: -19% (bearish) — Raw: -22%
OI Skew Magnitude
≥15%|OI skew| 4.0% — balanced
Volume-OI Alignment
Same sign, |vol skew| ≥10%Vol skew -20.9%, OI skew +4.0% — divergent (opposite)
Conviction Quality
≥2/3 conditions0-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: -45%, ATM: +35%, OTM: -26% — bearish (ITM/ATM divergent)
Sector Relative≤40% or ≥60%
Sector P/C percentile 89% — very bearish vs sector
Activity
Unusual activity?
3.3
QuietActive
Detects volume surges,
block trades
, and unusual options activity that may signal moves.Risk Checks1/9 checks passed
Volume Surge
≥1.5xVolume 0.3x avg — normal
Turnover Rate
≥15%Vol/OI 4.6% — normal turnover
Strike Concentration
≥60%Top 3 strikes = 50% — dispersed
Multi-Day Persistence
≥2 days1 day(s) elevated — may be one-day event
OI Build
≥5%OI change +3.8% (5d) — building
Sector Relative≥60%
Sector activity percentile 81% — very active vs sector
Trade Quality
≥30%Large trade volume 0% — mostly retail
Execution Urgency
≥60%Aggressive execution 40% — patient
Flow Conviction
≥30Conviction -19 (bearish) — mixed
Liquidity
Can I trade efficiently?
3.2
IlliquidLiquid
Evaluates
bid-ask spreads
, volume depth, and open interest for trade execution quality.Risk Checks2/8 checks passed
Tradeable Spread
≤5.0%Spread 11.9% — wide
Adequate OI
≥10,000OI 53,699 — deep
Active Volume
≥500Volume 2,487/day — adequate
Reasonable Cost
≤$0.50$0.60 to cross — expensive
Strike Coverage
≥5 strikes0 liquid strikes — limited options
Sector Relative≤40%
Sector spread percentile 85% — much wider than sector
Order Book Depth
≥100 contractsDepth 31.6 contracts (bid:15.4 ask:16.2) — thin
Execution Quality
<1.0%Avg slippage 5.78% — poor
Timing
Is now a good time?
7.1
RiskyFavorable
Considers earnings proximity,
time decay
, and event calendar for optimal entry timing.Risk Checks6/9 checks passed
Term Structure Clarity
|slope| ≥5%Slope +23.8% — backwardation
IV Percentile Clarity
<30 or >70IV percentile 79% — seller opportunity
Event Detection
≥10pts kinkIV kink 12.6pts — event priced
Theta/Vega Clarity
<0.5 or >2.0θ/ν ratio 650.22 — favors income trades
Expiration Distribution
≥3 expirations5 liquid expirations — flexible
Event Risk
≥60% (safe)caution advised: No earnings detected; CPI in 1d (HIGH)
Spread Momentum
<1.2 ratioSpread ratio 1.00x — stable
Flow Momentum
≥25% strength + ≥50% consistencyFlow -19% @ 59% consistency — unclear
Smart Money Timing
≥40 composite scoreScore 30 (ITM 20% + inst 0%) — retail dominated
Directional Strategy Fit
Option Buyers
Long Calls4.1
bullishIV expensive, bearish flow
Long Puts5.2
bearishIV expensive, bearish flow
Premium Sellers
Cash-Secured Put4.7
bullishIV rich premium, bearish flow
Covered Call5.8
bearishIV rich premium, bearish flow
For educational purposes only. Not investment advice.