SJMThe J.M. Smucker Company
Options Analysis Report•CANNED, FRUITS, VEG, PRESERVES, JAMS & JELLIES
Market Cap $10.2B|NYSE
● 2026-04-17$95.50
BULLISH
Analysis: 2026-04-16 EOD data
1Y -17.6%YTD -1.2%7D +5.0%
Options Vol
1,539
30D
Implied Move
±8.9%
IV Rank
62%
SJM Options Overview
IV is low. Conditions favor option buyers.
REWARDS
RISK ANALYSIS
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Value
Is IV priced right?
5.6
ExpensiveCheap
Measures whether options are cheap, fair, or rich relative to historical and peer
IV
levels.Risk Checks7/9 checks passed
IV Rank
≤35%IV Rank 26.8% — cheap vs history
IV/HV Ratio
<1.05xIV/HV 1.59x — IV premium over HV
Sector Relative≤50%
Sector percentile 42% — below sector median
Term Structure
<1.1xFront/Back 1.07x — backwardation
Skew Normal
<1.25xPut/Call IV 1.16x — elevated
Absolute IV
<80%ATM IV 30.3% — normal range
Spread-Adjusted Value
<80%Effective IV 66.9% (ATM 30.3% + spread 18.3% + bias) — fair
Execution Efficiency
<3.0%Total drag 24.21% (spread 18.29% + slippage 5.92%) — high friction
Vega Efficiency
≥5.0Vega efficiency 25.76 (vega 47.124 / spread 18.29%) — efficient
Sentiment
Bullish or bearish?
5.4
BearishBullish
Analyzes
put/call ratios
, open interest skew
, and flow direction to determine market bias.Risk ChecksVery Bearish - Strong signal (Conviction: -31%, Raw: -22%)
Flow Direction
|net sentiment| ≥25%Conviction-weighted: -31% (strong bearish) — Raw: -22%
OI Skew Magnitude
≥15%|OI skew| 50.2% — call-heavy
Volume-OI Alignment
Same sign, |vol skew| ≥10%Vol skew +51.3%, OI skew +50.2% — aligned
Conviction Quality
≥2/3 conditions0-DTE 19%, far-OTM 15%, avg DTE 30
OI Momentum
|change| ≥3%OI change +0.0% (5d) — stable
Smart Money Flow
|weighted flow| ≥20%ITM: +76%, ATM: -25%, OTM: -23% — strong bullish (ITM/ATM divergent)
Sector Relative≤40% or ≥60%
Sector P/C percentile 20% — very bullish vs sector
Activity
Unusual activity?
4.8
QuietActive
Detects volume surges,
block trades
, and unusual options activity that may signal moves.Risk Checks2/9 checks passed
Volume Surge
≥1.5xVolume 1.3x 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 +27.1% (5d) — building
Sector Relative≥60%
Sector activity percentile 54% — neutral vs sector
Trade Quality
≥30%Large trade volume 0% — mostly retail
Execution Urgency
≥60%Aggressive execution 33% — patient
Flow Conviction
≥30Conviction -31 (bearish) — moderate
Liquidity
Can I trade efficiently?
3.3
IlliquidLiquid
Evaluates
bid-ask spreads
, volume depth, and open interest for trade execution quality.Risk Checks3/8 checks passed
Tradeable Spread
≤5.0%Spread 18.3% — wide
Adequate OI
≥10,000OI 33,489 — adequate
Active Volume
≥500Volume 1,539/day — adequate
Reasonable Cost
≤$0.50$0.91 to cross — expensive
Strike Coverage
≥5 strikes0 liquid strikes — limited options
Sector Relative≤40%
Sector spread percentile 46% — neutral vs sector
Order Book Depth
≥100 contractsDepth 125.89999999999999 contracts (bid:72.1 ask:53.8) — adequate
Execution Quality
<1.0%Avg slippage 5.92% — poor
Timing
Is now a good time?
7.5
RiskyFavorable
Considers earnings proximity,
time decay
, and event calendar for optimal entry timing.Risk Checks7/9 checks passed
Term Structure Clarity
|slope| ≥5%Slope +6.9% — backwardation
IV Percentile Clarity
<30 or >70IV percentile 27% — buyer opportunity
Event Detection
≥10pts kinkIV kink 1.8pts — no clear event
Theta/Vega Clarity
<0.5 or >2.0θ/ν ratio 3769.90 — favors income trades
Expiration Distribution
≥3 expirations3 liquid expirations — flexible
Event Risk
≥60% (safe)safe window: No events detected
Spread Momentum
<1.2 ratioSpread ratio 1.00x — stable
Flow Momentum
≥25% strength + ≥50% consistencyFlow -31% @ 65% consistency — moderate (bearish)
Smart Money Timing
≥40 composite scoreScore 30 (ITM 20% + inst 0%) — retail dominated
Directional Strategy Fit
Option Buyers
Long Calls6.1
bullishIV fair, mixed flow
Long Puts5.2
bearishIV fair, mixed flow
Premium Sellers
Cash-Secured Put5.0
bullishIV fair, mixed flow
Covered Call4.7
bearishIV fair, mixed flow
For educational purposes only. Not investment advice.