IV is elevated with bullish flow and unusual activity. No clear edge detected.
Is IV priced right?
Measures whether options are cheap, fair, or rich relative to historical and peer
IV Rank 78.0% — elevated vs history
IV/HV 0.92x — IV ≤ HV
Sector percentile 86% — above sector median
Front/Back 0.92x — contango
Put/Call IV 1.16x — elevated
ATM IV 66.8% — normal range
Effective IV 100.6% (ATM 66.8% + spread 16.9% + bias) — expensive
Total drag 23.66% (spread 16.91% + slippage 6.75%) — high friction
Vega efficiency 2.98 (vega 5.044 / spread 16.91%) — spread drag
Bullish or bearish?
Analyzes
Conviction-weighted: +38% (strong bullish) — Raw: +42%
|OI skew| 56.3% — call-heavy
Vol skew +59.5%, OI skew +56.3% — aligned
0-DTE 37%, far-OTM 15%, avg DTE 30
OI change +0.0% (5d) — stable
ITM: +29%, ATM: +58%, OTM: +36% — strong bullish (ITM/ATM aligned)
Sector P/C percentile 15% — very bullish vs sector
Unusual activity?
Detects volume surges,
Volume 2.1x avg — hot
Vol/OI 20.3% — high turnover
Top 3 strikes = 50% — dispersed
1 day(s) elevated — may be one-day event
OI change +12.1% (5d) — building
Sector activity percentile 92% — very active vs sector
Large trade volume 28% — mixed
Aggressive execution 51% — patient
Conviction +38 (bullish) — moderate
Can I trade efficiently?
Evaluates
Spread 16.9% — wide
OI 5,578 — thin
Volume 1,132/day — adequate
$0.85 to cross — expensive
0 liquid strikes — limited options
Sector spread percentile 88% — much wider than sector
Depth 240.2 contracts (bid:90.1 ask:150.1) — adequate
Avg slippage 6.75% — poor
Is now a good time?
Considers earnings proximity,
Slope -8.3% — contango
IV percentile 78% — seller opportunity
IV kink -4.8pts — no clear event
θ/ν ratio 176.35 — favors income trades
3 liquid expirations — flexible
safe window: No earnings detected
Spread ratio 1.00x — stable
Flow +38% @ 69% consistency — moderate (bullish)
Score 58 (ITM 20% + inst 28%) — moderate institutional
For educational purposes only. Not investment advice.