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STTState Street Corporation

Options Analysis ReportSTATE COMMERCIAL BANKS
Market Cap $53.1B|NYSE
2026-08-31$193.33
BULLISH
Analysis: 2026-08-28 EOD data
1Y +70.7%YTD +49.8%7D +1.3%
329
30D
±7.2%
28%

STT Options Overview

bullish flow. No clear edge detected.

REWARDS

RISK ANALYSIS

5.0VALUESENTIMENTACTIVITYLIQUIDITYTIMING

Snowflake Analysis

Balanced conditions with no clear edge

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STT Gamma Walls

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STT Hedge Radar

No action needed
Full Hedge Radar

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

Protection is priced in the cheap band (3.15) — downside puts carry 0.3 IV points LESS than at-the-money, and near-dated vol is priced 6% below far-dated, measured against this name's own rolling 22-trading-day realized moves (482 overlapping windows). Fragility reads resilient (3.31): it is trading 7% above its hedge wall on a wall graded HIGH for reliability, and its realized-vol regime is stable.

Protection cost
3.15/ 10cheap
Basis: cross_sectional
Fragility
3.31/ 10resilient
Basis: per_ticker

Value

Is IV priced right?

4.7
ExpensiveCheap

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

levels.

Risk Checks5/9 checks passed
≤35%

IV Rank 52.7% — elevated vs history

<1.05x

IV/HV 1.54x — IV premium over HV

Sector Relative≤50%

Sector percentile 80% — above sector median

<1.1x

Front/Back 0.80x — contango

<1.25x

Put/Call IV 1.16x — elevated

<80%

ATM IV 30.7% — normal range

<80%

Effective IV 60.5% (ATM 30.7% + spread 14.9% + bias) — good value

<3.0%

Total drag 22.68% (spread 14.88% + slippage 7.80%) — high friction

≥5.0

Vega efficiency 37.23 (vega 55.400 / spread 14.88%) — efficient

Sentiment

Bullish or bearish?

7.3
BearishBullish

Analyzes

,
, and flow direction to determine market bias.

Risk ChecksVery Bullish - Moderate signal (Conviction: +39%, Raw: +38%)
|net sentiment| ≥25%

Conviction-weighted: +39% (strong bullish) — Raw: +38%

≥15%

|OI skew| 1.7% — balanced

Same sign, |vol skew| ≥10%

Vol skew +52.0%, OI skew -1.7% — divergent (opposite)

≥2/3 conditions

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

|change| ≥3%

OI change +0.0% (5d) — stable

|weighted flow| ≥20%

ITM: -76%, ATM: +46%, OTM: +45% — strong bearish (ITM/ATM divergent)

Sector Relative≤40% or ≥60%

Sector P/C percentile 23% — very bullish vs sector

Activity

Unusual activity?

3.0
QuietActive

Detects volume surges,

, and unusual options activity that may signal moves.

Risk Checks2/8 checks passed
≥1.5x

Volume 0.3x avg — normal

≥15%

Vol/OI 1.1% — normal turnover

≥2 days

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

≥5%

OI change +5.4% (5d) — building

Sector Relative≥60%

Sector activity percentile 33% — below sector avg

≥30%

Large trade volume 0% — mostly retail

≥60%

Aggressive execution 27% — patient

≥30

Conviction +39 (bullish) — moderate

Liquidity

Can I trade efficiently?

2.7
IlliquidLiquid

Evaluates

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

Risk Checks1/8 checks passed
≤5.0%

Spread 14.9% — wide

≥10,000

OI 30,566 — adequate

≥500

Volume 329/day — thin

≤$0.50

$0.74 to cross — expensive

≥5 strikes

0 liquid strikes — limited options

Sector Relative≤40%

Sector spread percentile 81% — much wider than sector

≥100 contracts

Depth 52.5 contracts (bid:27.9 ask:24.6) — thin

<1.0%

Avg slippage 7.80% — poor

Timing

Is now a good time?

7.2
RiskyFavorable

Considers earnings proximity,

, and event calendar for optimal entry timing.

Risk Checks6/9 checks passed
|slope| ≥5%

Slope -19.6% — contango

<30 or >70

IV percentile 53% — neutral

≥10pts kink

IV kink -5.5pts — no clear event

<0.5 or >2.0

θ/ν ratio 1137.57 — favors income trades

≥3 expirations

4 liquid expirations — flexible

≥60% (safe)

safe window: No events detected

<1.2 ratio

Spread ratio 1.00x — stable

≥25% strength + ≥50% consistency

Flow +39% @ 69% consistency — moderate (bullish)

≥40 composite score

Score 30 (ITM 20% + inst 0%) — retail dominated

Directional Strategy Fit

Option Buyers
Long Calls5.7
bullishIV fair, bullish flow
Long Puts4.1
bearishIV fair, bullish flow
Premium Sellers
Cash-Secured Put5.8
bullishIV fair, bullish flow
Covered Call4.1
bearishIV fair, 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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