AInvestOption Pilot Program
Options/SOXL
S

SOXLDirexion Daily Semiconductor Bull 3X ETF

Options Analysis Report
AUM $21.1B|ARCX
● 2026-08-31$112.79
BEARISH
Analysis: 2026-08-28 EOD data
1Y +346.7%YTD +138.8%7D +1.5%
440,466
30D
±30.4%
17%

SOXL Options Overview

IV is elevated with bearish flow and unusual activity. Conditions favor premium sellers.

REWARDS

RISK ANALYSIS

5.4VALUESENTIMENTACTIVITYLIQUIDITYTIMING

Snowflake Analysis

Favorable conditions for premium sellers

Learn
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SOXL Gamma Walls

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Value

Is IV priced right?

4.6
ExpensiveCheap

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

levels.

Risk Checks3/9 checks passed
≤35%

IV Rank 95.8% — elevated vs history

<1.05x

IV/HV 0.84x — IV ≤ HV

Sector Relative≤50%

Sector percentile 97% — above sector median

<1.1x

Front/Back 0.81x — contango

<1.25x

Put/Call IV 1.16x — elevated

<80%

ATM IV 99.1% — crisis-level IV

<80%

Effective IV 119.5% (ATM 99.1% + spread 10.2% + bias) — expensive

<3.0%

Total drag 15.28% (spread 10.21% + slippage 5.07%) — high friction

≥5.0

Vega efficiency 3.93 (vega 4.012 / spread 10.21%) — spread drag

Sentiment

Bullish or bearish?

3.3
BearishBullish

Analyzes

,
, and flow direction to determine market bias.

Risk ChecksNeutral - Moderate signal (Conviction: -6%, Raw: -8%)
|net sentiment| ≥25%

Conviction-weighted: -6% (neutral) — Raw: -8%

≥15%

|OI skew| 30.7% — put-heavy

Same sign, |vol skew| ≥10%

Vol skew -29.8%, OI skew -30.7% — aligned

≥2/3 conditions

0-DTE 10%, far-OTM 15%, avg DTE 30

|change| ≥3%

OI change +0.0% (5d) — stable

|weighted flow| ≥20%

ITM: +0%, ATM: -12%, OTM: -8% — neutral (ITM/ATM divergent)

Sector Relative≤40% or ≥60%

Sector P/C percentile 93% — very bearish vs sector

Activity

Unusual activity?

6.5
QuietActive

Detects volume surges,

, and unusual options activity that may signal moves.

Risk Checks4/8 checks passed
≥1.5x

Volume 1.6x avg — elevated

≥15%

Vol/OI 30.0% — high turnover

≥2 days

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

≥5%

OI change +10.0% (5d) — building

Sector Relative≥60%

Sector activity percentile 95% — very active vs sector

≥30%

Large trade volume 28% — mixed

≥60%

Aggressive execution 21% — patient

≥30

Conviction -6 (bearish) — mixed

Liquidity

Can I trade efficiently?

5.2
IlliquidLiquid

Evaluates

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

Risk Checks3/8 checks passed
≤5.0%

Spread 10.2% — wide

≥10,000

OI 1,465,637 — deep

≥500

Volume 440,466/day — active

≤$0.50

$0.51 to cross — expensive

≥5 strikes

0 liquid strikes — limited options

Sector Relative≤40%

Sector spread percentile 98% — much wider than sector

≥100 contracts

Depth 167.3 contracts (bid:86.7 ask:80.6) — adequate

<1.0%

Avg slippage 5.07% — poor

Timing

Is now a good time?

7.2
RiskyFavorable

Considers earnings proximity,

, and event calendar for optimal entry timing.

Risk Checks7/9 checks passed
|slope| ≥5%

Slope -18.8% — contango

<30 or >70

IV percentile 96% — seller opportunity

≥10pts kink

IV kink -17.8pts — no clear event

<0.5 or >2.0

θ/ν ratio 8.79 — favors income trades

≥3 expirations

5 liquid expirations — flexible

≥60% (safe)

safe window: No earnings detected

<1.2 ratio

Spread ratio 1.00x — stable

≥25% strength + ≥50% consistency

Flow -6% @ 53% consistency — unclear

≥40 composite score

Score 58 (ITM 20% + inst 28%) — moderate institutional

Directional Strategy Fit

Option Buyers
Long Calls4.6
bullishIV fair, bearish flow
Long Puts6.4
bearishIV fair, bearish flow
Premium Sellers
Cash-Secured Put4.9
bullishIV fair, bearish flow
Covered Call6.1
bearishIV fair, bearish 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.

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