bearish flow. Conditions favor premium sellers.
Is IV priced right?
Measures whether options are cheap, fair, or rich relative to historical and peer
IV Rank 57.3% — elevated vs history
IV/HV 1.61x — IV premium over HV
Sector percentile 77% — above sector median
Front/Back 1.07x — backwardation
Put/Call IV 1.16x — elevated
ATM IV 38.0% — normal range
Effective IV 65.0% (ATM 38.0% + spread 13.5% + bias) — good value
Total drag 16.69% (spread 13.49% + slippage 3.20%) — high friction
Vega efficiency 1.16 (vega 1.562 / spread 13.49%) — spread drag
Bullish or bearish?
Analyzes
Conviction-weighted: -63% (strong bearish) — Raw: -62%
|OI skew| 28.4% — put-heavy
Vol skew -73.7%, OI skew -28.4% — aligned
0-DTE 7%, far-OTM 15%, avg DTE 30
OI change +0.0% (5d) — stable
ITM: -82%, ATM: -41%, OTM: -64% — strong bearish (ITM/ATM aligned)
Sector P/C percentile 96% — very bearish vs sector
Unusual activity?
Detects volume surges,
Volume 0.9x avg — normal
Vol/OI 5.3% — normal turnover
Top 3 strikes = 50% — dispersed
1 day(s) elevated — may be one-day event
OI change +3.8% (5d) — building
Sector activity percentile 63% — active vs sector
Large trade volume 46% — institutional presence
Aggressive execution 46% — patient
Conviction -63 (bearish) — strong conviction
Can I trade efficiently?
Evaluates
Spread 13.5% — wide
OI 66,014 — deep
Volume 3,481/day — adequate
$0.67 to cross — expensive
0 liquid strikes — limited options
Sector spread percentile 78% — wider than sector
Depth 212.39999999999998 contracts (bid:107.3 ask:105.1) — adequate
Avg slippage 3.20% — poor
Is now a good time?
Considers earnings proximity,
Slope +7.2% — backwardation
IV percentile 57% — neutral
IV kink 2.6pts — no clear event
θ/ν ratio 3.62 — favors income trades
3 liquid expirations — flexible
caution advised: Earnings in 4d (elevated risk)
Spread ratio 1.00x — stable
Flow -63% @ 81% consistency — STRONG directional (bearish)
Score 76 (ITM 20% + inst 46%) — HIGH institutional
For educational purposes only. Not investment advice.