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 84.5% — elevated vs history
IV/HV 1.11x — IV premium over HV
Sector percentile 56% — above sector median
Front/Back 1.13x — backwardation
Put/Call IV 1.16x — elevated
ATM IV 72.3% — normal range
Effective IV 95.9% (ATM 72.3% + spread 11.8% + bias) — expensive
Total drag 18.27% (spread 11.78% + slippage 6.49%) — high friction
Vega efficiency 2.36 (vega 2.776 / spread 11.78%) — spread drag
Bullish or bearish?
Analyzes
Conviction-weighted: -0% (neutral) — Raw: +3%
|OI skew| 34.2% — call-heavy
Vol skew +92.3%, OI skew +34.2% — aligned
0-DTE 0%, far-OTM 15%, avg DTE 30
OI change +0.0% (5d) — stable
ITM: +6%, ATM: -13%, OTM: +22% — neutral (ITM/ATM divergent)
Sector P/C percentile 8% — very bullish vs sector
Unusual activity?
Detects volume surges,
Volume 0.8x avg — normal
Vol/OI 5.5% — normal turnover
Top 3 strikes = 50% — dispersed
1 day(s) elevated — may be one-day event
OI change -0.7% (5d) — stable
Sector activity percentile 71% — active vs sector
Large trade volume 13% — mostly retail
Aggressive execution 44% — patient
Conviction -0 (bearish) — mixed
Can I trade efficiently?
Evaluates
Spread 11.8% — wide
OI 104,009 — deep
Volume 5,712/day — active
$0.59 to cross — expensive
1 liquid strikes — limited options
Sector spread percentile 74% — wider than sector
Depth 511.8 contracts (bid:280.8 ask:231.0) — deep
Avg slippage 6.49% — poor
Is now a good time?
Considers earnings proximity,
Slope +12.5% — backwardation
IV percentile 84% — seller opportunity
IV kink 10.9pts — event priced
θ/ν ratio 504.64 — favors income trades
5 liquid expirations — flexible
caution advised: No earnings detected; CPI in 1d (HIGH)
Spread ratio 1.00x — stable
Flow -0% @ 50% consistency — unclear
Score 43 (ITM 20% + inst 13%) — moderate institutional
For educational purposes only. Not investment advice.