TERTeradyne, Inc. Common Stock
Options Analysis Report•INSTRUMENTS FOR MEAS & TESTING OF ELECTRICITY & ELEC SIGNALS
Market Cap $59.6B|NASDAQ
● 2026-04-17$380.38
NEUTRAL
Analysis: 2026-04-16 EOD data
1Y +444.9%YTD +83.3%7D +3.4%
Options Vol
3,415
30D
Implied Move
±25.0%
IV Rank
42%
TER Options Overview
IV is elevated. Conditions favor premium sellers.
REWARDS
RISK ANALYSIS
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Value
Is IV priced right?
4.1
ExpensiveCheap
Measures whether options are cheap, fair, or rich relative to historical and peer
IV
levels.Risk Checks4/9 checks passed
IV Rank
≤35%IV Rank 98.1% — elevated vs history
IV/HV Ratio
<1.05xIV/HV 1.07x — IV premium over HV
Sector Relative≤50%
Sector percentile 92% — above sector median
Term Structure
<1.1xFront/Back 0.99x — contango
Skew Normal
<1.25xPut/Call IV 1.16x — elevated
Absolute IV
<80%ATM IV 75.4% — normal range
Spread-Adjusted Value
<80%Effective IV 88.3% (ATM 75.4% + spread 6.4% + bias) — expensive
Execution Efficiency
<3.0%Total drag 13.20% (spread 6.43% + slippage 6.77%) — high friction
Vega Efficiency
≥5.0Vega efficiency 130.89 (vega 84.165 / spread 6.43%) — efficient
Sentiment
Bullish or bearish?
5.3
BearishBullish
Analyzes
put/call ratios
, open interest skew
, and flow direction to determine market bias.Risk ChecksNeutral - Weak signal (Conviction: +4%, Raw: +4%)
Flow Direction
|net sentiment| ≥25%Conviction-weighted: +4% (neutral) — Raw: +4%
OI Skew Magnitude
≥15%|OI skew| 20.5% — call-heavy
Volume-OI Alignment
Same sign, |vol skew| ≥10%Vol skew -0.3%, OI skew +20.5% — divergent (opposite)
Conviction Quality
≥2/3 conditions0-DTE 22%, far-OTM 15%, avg DTE 30
OI Momentum
|change| ≥3%OI change +0.0% (5d) — stable
Smart Money Flow
|weighted flow| ≥20%ITM: -22%, ATM: +34%, OTM: -2% — neutral (ITM/ATM divergent)
Sector Relative≤40% or ≥60%
Sector P/C percentile 76% — very bearish vs sector
Activity
Unusual activity?
3.3
QuietActive
Detects volume surges,
block trades
, and unusual options activity that may signal moves.Risk Checks1/9 checks passed
Volume Surge
≥1.5xVolume 0.9x avg — normal
Turnover Rate
≥15%Vol/OI 4.7% — normal turnover
Strike Concentration
≥60%Top 3 strikes = 50% — dispersed
Multi-Day Persistence
≥2 days1 day(s) elevated — may be one-day event
OI Build
≥5%OI change +6.6% (5d) — building
Sector Relative≥60%
Sector activity percentile 31% — below sector avg
Trade Quality
≥30%Large trade volume 9% — mostly retail
Execution Urgency
≥60%Aggressive execution 32% — patient
Flow Conviction
≥30Conviction +4 (bullish) — mixed
Liquidity
Can I trade efficiently?
5.0
IlliquidLiquid
Evaluates
bid-ask spreads
, volume depth, and open interest for trade execution quality.Risk Checks4/8 checks passed
Tradeable Spread
≤5.0%Spread 6.4% — wide
Adequate OI
≥10,000OI 73,425 — deep
Active Volume
≥500Volume 3,415/day — adequate
Reasonable Cost
≤$0.50$0.32 to cross — cheap
Strike Coverage
≥5 strikes6 liquid strikes — good coverage
Sector Relative≤40%
Sector spread percentile 92% — much wider than sector
Order Book Depth
≥100 contractsDepth 49.5 contracts (bid:23.6 ask:25.9) — thin
Execution Quality
<1.0%Avg slippage 6.77% — poor
Timing
Is now a good time?
6.8
RiskyFavorable
Considers earnings proximity,
time decay
, and event calendar for optimal entry timing.Risk Checks5/9 checks passed
Term Structure Clarity
|slope| ≥5%Slope -1.0% — flat/unclear
IV Percentile Clarity
<30 or >70IV percentile 98% — seller opportunity
Event Detection
≥10pts kinkIV kink -6.4pts — no clear event
Theta/Vega Clarity
<0.5 or >2.0θ/ν ratio 335.72 — favors income trades
Expiration Distribution
≥3 expirations5 liquid expirations — flexible
Event Risk
≥60% (safe)acceptable: Earnings in 11d
Spread Momentum
<1.2 ratioSpread ratio 1.00x — stable
Flow Momentum
≥25% strength + ≥50% consistencyFlow +4% @ 52% consistency — unclear
Smart Money Timing
≥40 composite scoreScore 39 (ITM 20% + inst 9%) — retail dominated
Directional Strategy Fit
Option Buyers
Long Calls5.1
bullishIV fair, mixed flow
Long Puts4.9
bearishIV fair, mixed flow
Premium Sellers
Cash-Secured Put5.7
bullishIV fair, mixed flow
Covered Call5.4
bearishIV fair, mixed flow
For educational purposes only. Not investment advice.