Options/SCHW

SCHWThe Charles Schwab Corporation

Options Analysis Report•SECURITY BROKERS, DEALERS & FLOTATION COMPANIES

Market Cap $186.9B|NYSE

● 2026-08-28$108.05

NEUTRAL

Analysis: 2026-08-27 EOD data

1Y +11.3%YTD +6.4%7D -3.8%

Options Vol

21,814

30D

Implied Move

±6.4%

IV Rank

SCHW Options Overview

IV is low with unusual activity. No clear edge detected.

REWARDS

RISK ANALYSIS

Snowflake Analysis

Favorable conditions for option buyers

Learn

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SCHW Gamma Walls

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SCHW Hedge Radar

Neutral

Full Hedge Radar

Neither score is at an extreme today. Neither axis is a forecast — this is where SCHW sits on protection cost vs. fragility today.

Protection is priced in the cheap band (2.51) — near-dated vol is priced 14% below far-dated, and implied vol sits in the 5th percentile of its own past year, measured against this name's own rolling 20-trading-day realized moves (484 overlapping windows). Fragility reads neutral (4.39): it is trading 4% above its hedge wall on a wall graded MEDIUM for reliability, and its realized-vol regime is stable.

Protection cost

2.51/ 10cheap

Basis: cross_sectional

Fragility

4.39/ 10neutral

Basis: per_ticker

Value

Is IV priced right?

7.6

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 18.8% — cheap vs history

IV/HV Ratio

<1.05x

IV/HV 1.32x — IV premium over HV

Sector Relative≤50%

Sector percentile 32% — below sector median

Term Structure

<1.1x

Front/Back 0.86x — contango

Skew Normal

<1.25x

Put/Call IV 1.16x — elevated

Absolute IV

<80%

ATM IV 24.5% — normal range

Spread-Adjusted Value

<80%

Effective IV 40.7% (ATM 24.5% + spread 8.1% + bias) — excellent value

Execution Efficiency

<3.0%

Total drag 13.38% (spread 8.08% + slippage 5.30%) — high friction

Vega Efficiency

≥5.0

Vega efficiency 7.49 (vega 6.048 / spread 8.08%) — efficient

Sentiment

Bullish or bearish?

5.1

BearishBullish

Analyzes

put/call ratios

open interest skew

, and flow direction to determine market bias.

Risk ChecksBearish - Moderate signal (Conviction: -19%, Raw: -19%)

Flow Direction

|net sentiment| ≥25%

Conviction-weighted: -19% (bearish) — Raw: -19%

OI Skew Magnitude

≥15%

|OI skew| 7.9% — balanced

Volume-OI Alignment

Same sign, |vol skew| ≥10%

Vol skew +9.8%, OI skew +7.9% — weak (same direction)

Conviction Quality

≥2/3 conditions

0-DTE 9%, far-OTM 15%, avg DTE 30

OI Momentum

|change| ≥3%

OI change +0.0% (5d) — stable

Smart Money Flow

|weighted flow| ≥20%

ITM: -21%, ATM: +27%, OTM: -44% — neutral (ITM/ATM divergent)

Sector Relative≤40% or ≥60%

Sector P/C percentile 44% — bullish vs sector

Activity

Unusual activity?

4.2

QuietActive

Detects volume surges,

block trades

, and unusual options activity that may signal moves.

Risk Checks2/8 checks passed

Volume Surge

≥1.5x

Volume 1.0x avg — normal

Turnover Rate

≥15%

Vol/OI 4.7% — normal turnover

Multi-Day Persistence

≥2 days

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

OI Build

≥5%

OI change -3.2% (5d) — unwinding

Sector Relative≥60%

Sector activity percentile 84% — very active vs sector

Trade Quality

≥30%

Large trade volume 46% — institutional presence

Execution Urgency

≥60%

Aggressive execution 28% — patient

Flow Conviction

≥30

Conviction -19 (bearish) — mixed

Liquidity

Can I trade efficiently?

5.4

IlliquidLiquid

Evaluates

bid-ask spreads

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

Risk Checks5/8 checks passed

Tradeable Spread

≤5.0%

Spread 8.1% — wide

Adequate OI

≥10,000

OI 462,312 — deep

Active Volume

≥500

Volume 21,814/day — active

Reasonable Cost

≤$0.50

$0.40 to cross — cheap

Strike Coverage

≥5 strikes

1 liquid strikes — limited options

Sector Relative≤40%

Sector spread percentile 33% — tighter than sector

Order Book Depth

≥100 contracts

Depth 209.9 contracts (bid:120.5 ask:89.4) — adequate

Execution Quality

<1.0%

Avg slippage 5.30% — poor

Timing

Is now a good time?

7.6

RiskyFavorable

Considers earnings proximity,

time decay

, and event calendar for optimal entry timing.

Risk Checks7/9 checks passed

Term Structure Clarity

|slope| ≥5%

Slope -13.7% — contango

IV Percentile Clarity

<30 or >70

IV percentile 19% — buyer opportunity

Event Detection

≥10pts kink

IV kink -1.7pts — no clear event

Theta/Vega Clarity

<0.5 or >2.0

θ/ν ratio 64.21 — favors income trades

Expiration Distribution

≥3 expirations

5 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 -19% @ 60% consistency — unclear

Smart Money Timing

≥40 composite score

Score 76 (ITM 20% + inst 46%) — HIGH institutional

Directional Strategy Fit

Option Buyers

Long Calls6.4

bullishIV cheap, mixed flow

Long Puts6.3

bearishIV cheap, mixed flow

Premium Sellers

Cash-Secured Put4.7

bullishIV too cheap, mixed flow

Covered Call4.7

bearishIV too cheap, mixed flow

For educational purposes only. Not investment advice.