SNASnap-on Incorporated
Options Analysis Report•CUTLERY, HANDTOOLS & GENERAL HARDWARE
Market Cap $19.8B|NYSE
● 2026-04-17$380.27
NEUTRAL
Analysis: 2026-04-16 EOD data
1Y +30.1%YTD +8.4%7D +0.1%
Options Vol
49
30D
Implied Move
±8.9%
IV Rank
5%
SNA Options Overview
IV is low with bearish flow. Conditions favor option buyers.
REWARDS
RISK ANALYSIS
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Value
Is IV priced right?
7.6
ExpensiveCheap
Measures whether options are cheap, fair, or rich relative to historical and peer
IV
levels.Risk Checks6/9 checks passed
IV Rank
≤35%IV Rank 17.0% — cheap vs history
IV/HV Ratio
<1.05xIV/HV 1.25x — IV premium over HV
Sector Relative≤50%
Sector percentile 11% — below sector median
Term Structure
<1.1xFront/Back 1.31x — backwardation
Skew Normal
<1.25xPut/Call IV 1.16x — elevated
Absolute IV
<80%ATM IV 27.8% — normal range
Spread-Adjusted Value
<80%Effective IV 64.5% (ATM 27.8% + spread 18.4% + bias) — good value
Execution Efficiency
<3.0%Total drag 25.20% (spread 18.36% + slippage 6.84%) — high friction
Vega Efficiency
≥5.0Vega efficiency 22.46 (vega 41.241 / spread 18.36%) — efficient
Sentiment
Bullish or bearish?
3.9
BearishBullish
Analyzes
put/call ratios
, open interest skew
, and flow direction to determine market bias.Risk ChecksBearish - Moderate signal (Conviction: -15%, Raw: -22%)
Flow Direction
|net sentiment| ≥25%Conviction-weighted: -15% (bearish) — Raw: -22%
OI Skew Magnitude
≥15%|OI skew| 61.4% — call-heavy
Volume-OI Alignment
Same sign, |vol skew| ≥10%Vol skew -55.1%, OI skew +61.4% — divergent (opposite)
Conviction Quality
≥2/3 conditions0-DTE 22%, far-OTM 15%, avg DTE 30
OI Momentum
|change| ≥3%OI change +0.0% (5d) — stable
Smart Money Flow
|weighted flow| ≥20%ITM: +0%, ATM: -33%, OTM: -20% — bearish (ITM/ATM divergent)
Sector Relative≤40% or ≥60%
Sector P/C percentile 92% — very bearish vs sector
Activity
Unusual activity?
2.0
QuietActive
Detects volume surges,
block trades
, and unusual options activity that may signal moves.Risk Checks0/9 checks passed
Volume Surge
≥1.5xVolume 0.3x avg — normal
Turnover Rate
≥15%Vol/OI 1.7% — 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 -6.8% (5d) — unwinding
Sector Relative≥60%
Sector activity percentile 17% — quiet vs sector
Trade Quality
≥30%Large trade volume 0% — mostly retail
Execution Urgency
≥60%Aggressive execution 41% — patient
Flow Conviction
≥30Conviction -15 (bearish) — mixed
Liquidity
Can I trade efficiently?
2.9
IlliquidLiquid
Evaluates
bid-ask spreads
, volume depth, and open interest for trade execution quality.Risk Checks1/8 checks passed
Tradeable Spread
≤5.0%Spread 18.4% — wide
Adequate OI
≥10,000OI 2,967 — thin
Active Volume
≥500Volume 49/day — thin
Reasonable Cost
≤$0.50$0.92 to cross — expensive
Strike Coverage
≥5 strikes1 liquid strikes — limited options
Sector Relative≤40%
Sector spread percentile 15% — much tighter than sector
Order Book Depth
≥100 contractsDepth 14.5 contracts (bid:9.4 ask:5.1) — thin
Execution Quality
<1.0%Avg slippage 6.84% — poor
Timing
Is now a good time?
6.2
RiskyFavorable
Considers earnings proximity,
time decay
, and event calendar for optimal entry timing.Risk Checks5/9 checks passed
Term Structure Clarity
|slope| ≥5%Slope +31.2% — backwardation
IV Percentile Clarity
<30 or >70IV percentile 17% — buyer opportunity
Event Detection
≥10pts kinkIV kink 6.2pts — no clear event
Theta/Vega Clarity
<0.5 or >2.0θ/ν ratio 181.12 — favors income trades
Expiration Distribution
≥3 expirations3 liquid expirations — flexible
Event Risk
≥60% (safe)caution advised: Earnings in 6d (elevated risk)
Spread Momentum
<1.2 ratioSpread ratio 1.00x — stable
Flow Momentum
≥25% strength + ≥50% consistencyFlow -15% @ 57% consistency — unclear
Smart Money Timing
≥40 composite scoreScore 30 (ITM 20% + inst 0%) — retail dominated
Directional Strategy Fit
Option Buyers
Long Calls5.4
bullishIV cheap, bearish flow
Long Puts6.2
bearishIV cheap, bearish flow
Premium Sellers
Cash-Secured Put3.6
bullishIV too cheap, bearish flow
Covered Call4.4
bearishIV too cheap, bearish flow
For educational purposes only. Not investment advice.