AInvestOption Pilot Program
Options/SGOV
S

SGOViShares 0-3 Month Treasury Bond ETF

Options Analysis Report
AUM $105.7B|NYSE
● 2026-08-31$100.69
NEUTRAL
Analysis: 2026-08-28 EOD data
1Y +0.3%YTD +0.3%7D +0.0%
142
30D
±2.6%
7%

SGOV Options Overview

IV is low. Conditions favor option buyers.

REWARDS

RISK ANALYSIS

5.2VALUESENTIMENTACTIVITYLIQUIDITYTIMING

Snowflake Analysis

Favorable conditions for option buyers

Learn
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SGOV Gamma Walls

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Value

Is IV priced right?

7.1
ExpensiveCheap

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

levels.

Risk Checks5/9 checks passed
≤35%

IV Rank 0.1% — cheap vs history

<1.05x

IV/HV 3.30x — IV premium over HV

Sector Relative≤50%

Sector percentile 0% — below sector median

<1.1x

Front/Back 1.41x — backwardation

<1.25x

Put/Call IV 1.16x — elevated

<80%

ATM IV 3.6% — normal range

<80%

Effective IV 20.5% (ATM 3.6% + spread 8.4% + bias) — excellent value

<3.0%

Total drag 19.79% (spread 8.44% + slippage 11.35%) — high friction

≥5.0

Vega efficiency 0.00 (vega 0.000 / spread 8.44%) — spread drag

Sentiment

Bullish or bearish?

5.1
BearishBullish

Analyzes

,
, and flow direction to determine market bias.

Risk ChecksVery Bearish - Strong signal (Conviction: -40%, Raw: -33%)
|net sentiment| ≥25%

Conviction-weighted: -40% (strong bearish) — Raw: -33%

≥15%

|OI skew| 27.8% — call-heavy

Same sign, |vol skew| ≥10%

Vol skew +38.0%, OI skew +27.8% — aligned

≥2/3 conditions

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

|change| ≥3%

OI change +0.0% (5d) — stable

|weighted flow| ≥20%

ITM: -23%, ATM: -35%, OTM: +0% — strong bearish (ITM/ATM aligned)

Sector Relative≤40% or ≥60%

Sector P/C percentile 18% — very bullish vs sector

Activity

Unusual activity?

2.6
QuietActive

Detects volume surges,

, and unusual options activity that may signal moves.

Risk Checks1/8 checks passed
≥1.5x

Volume 0.2x avg — normal

≥15%

Vol/OI 1.0% — normal turnover

≥2 days

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

≥5%

OI change +3.5% (5d) — building

Sector Relative≥60%

Sector activity percentile 31% — below sector avg

≥30%

Large trade volume 0% — mostly retail

≥60%

Aggressive execution 24% — patient

≥30

Conviction -40 (bearish) — moderate

Liquidity

Can I trade efficiently?

4.2
IlliquidLiquid

Evaluates

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

Risk Checks3/8 checks passed
≤5.0%

Spread 8.4% — wide

≥10,000

OI 13,934 — adequate

≥500

Volume 142/day — thin

≤$0.50

$0.42 to cross — cheap

≥5 strikes

0 liquid strikes — limited options

Sector Relative≤40%

Sector spread percentile 24% — tighter than sector

≥100 contracts

Depth 61.7 contracts (bid:39.0 ask:22.7) — thin

<1.0%

Avg slippage 11.35% — poor

Timing

Is now a good time?

6.8
RiskyFavorable

Considers earnings proximity,

, and event calendar for optimal entry timing.

Risk Checks6/9 checks passed
|slope| ≥5%

Slope +41.3% — backwardation

<30 or >70

IV percentile 0% — buyer opportunity

≥10pts kink

IV kink 2.1pts — no clear event

<0.5 or >2.0

θ/ν ratio 1.00 — favors mixed

≥3 expirations

4 liquid expirations — flexible

≥60% (safe)

safe window: No earnings detected

<1.2 ratio

Spread ratio 1.00x — stable

≥25% strength + ≥50% consistency

Flow -40% @ 70% consistency — STRONG directional (bearish)

≥40 composite score

Score 30 (ITM 20% + inst 0%) — retail dominated

Directional Strategy Fit

Option Buyers
Long Calls5.9
bullishIV cheap, mixed flow
Long Puts5.9
bearishIV cheap, mixed flow
Premium Sellers
Cash-Secured Put4.5
bullishIV too cheap, mixed flow
Covered Call4.4
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 SGOV

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