Options/SPOT

SPOTSpotify Technology S.A.

Options Analysis Report

Market Cap $112.6B|NYSE

● 2026-08-31$547.51

NEUTRAL

Analysis: 2026-08-28 EOD data

1Y -20.6%YTD -4.8%7D +1.8%

Options Vol

10,863

30D

Implied Move

±10.3%

IV Rank

SPOT Options Overview

unusual activity. No clear edge detected.

REWARDS

RISK ANALYSIS

Snowflake Analysis

Balanced conditions with no clear edge

Learn

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SPOT Gamma Walls

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SPOT Hedge Radar

No action needed

Full Hedge Radar

Fragility reads low; protection is priced cheap. Neither axis is a forecast — this is where SPOT sits on protection cost vs. fragility today.

Protection is priced in the cheap band (1.46) — near-dated vol is priced 19% below far-dated, and implied vol sits in the 3th percentile of its own past year, measured against this name's own rolling 19-trading-day realized moves (485 overlapping windows). Fragility reads resilient (3.52): it is trading 9% above its hedge wall on a wall graded MEDIUM for reliability, and its realized-vol regime is stable.

Protection cost

1.46/ 10cheap

Basis: cross_sectional

Fragility

3.52/ 10resilient

Basis: per_ticker

Value

Is IV priced right?

8.2

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 56.8% — elevated vs history

IV/HV Ratio

<1.05x

IV/HV 0.81x — IV ≤ HV

Sector Relative≤50%

Sector percentile 39% — below sector median

Term Structure

<1.1x

Front/Back 0.81x — contango

Skew Normal

<1.25x

Put/Call IV 1.16x — elevated

Absolute IV

<80%

ATM IV 35.9% — normal range

Spread-Adjusted Value

<80%

Effective IV 57.8% (ATM 35.9% + spread 10.9% + bias) — good value

Execution Efficiency

<3.0%

Total drag 20.84% (spread 10.95% + slippage 9.89%) — high friction

Vega Efficiency

≥5.0

Vega efficiency 39.01 (vega 42.718 / spread 10.95%) — efficient

Sentiment

Bullish or bearish?

6.5

BearishBullish

Analyzes

put/call ratios

open interest skew

, and flow direction to determine market bias.

Risk ChecksBullish - Weak signal (Conviction: +13%, Raw: +15%)

Flow Direction

|net sentiment| ≥25%

Conviction-weighted: +13% (bullish) — Raw: +15%

OI Skew Magnitude

≥15%

|OI skew| 0.1% — balanced

Volume-OI Alignment

Same sign, |vol skew| ≥10%

Vol skew +35.2%, OI skew +0.1% — aligned

Conviction Quality

≥2/3 conditions

0-DTE 0%, 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: +5%, OTM: +21% — neutral (ITM/ATM aligned)

Sector Relative≤40% or ≥60%

Sector P/C percentile 45% — 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 9.0% — normal turnover

Multi-Day Persistence

≥2 days

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

OI Build

≥5%

OI change +7.2% (5d) — building

Sector Relative≥60%

Sector activity percentile 86% — very active vs sector

Trade Quality

≥30%

Large trade volume 14% — mostly retail

Execution Urgency

≥60%

Aggressive execution 28% — patient

Flow Conviction

≥30

Conviction +13 (bullish) — mixed

Liquidity

Can I trade efficiently?

4.0

IlliquidLiquid

Evaluates

bid-ask spreads

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

Risk Checks2/8 checks passed

Tradeable Spread

≤5.0%

Spread 10.9% — wide

Adequate OI

≥10,000

OI 120,967 — deep

Active Volume

≥500

Volume 10,863/day — active

Reasonable Cost

≤$0.50

$0.55 to cross — expensive

Strike Coverage

≥5 strikes

0 liquid strikes — limited options

Sector Relative≤40%

Sector spread percentile 72% — wider than sector

Order Book Depth

≥100 contracts

Depth 76.9 contracts (bid:39.7 ask:37.2) — thin

Execution Quality

<1.0%

Avg slippage 9.89% — poor

Timing

Is now a good time?

6.6

RiskyFavorable

Considers earnings proximity,

time decay

, and event calendar for optimal entry timing.

Risk Checks6/9 checks passed

Term Structure Clarity

|slope| ≥5%

Slope -19.3% — contango

IV Percentile Clarity

<30 or >70

IV percentile 57% — neutral

Event Detection

≥10pts kink

IV kink -3.8pts — no clear event

Theta/Vega Clarity

<0.5 or >2.0

θ/ν ratio 76.87 — favors income trades

Expiration Distribution

≥3 expirations

4 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 +13% @ 57% consistency — unclear

Smart Money Timing

≥40 composite score

Score 44 (ITM 20% + inst 14%) — moderate institutional

Directional Strategy Fit

Option Buyers

Long Calls6.7

bullishIV cheap, bullish flow

Long Puts5.7

bearishIV cheap, bullish flow

Premium Sellers

Cash-Secured Put4.6

bullishIV too cheap, bullish flow

Covered Call3.6

bearishIV too cheap, bullish 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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