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TMQTrilogy Metals Inc

Options Analysis Report•GOLD AND SILVER ORES
Market Cap $625M|XASE
● 2026-08-31$3.62
VERY BULLISH
Analysis: 2026-08-28 EOD data
1Y +123.5%YTD -21.1%7D -3.7%
174
30D
±8.6%
0%

TMQ Options Overview

bullish flow. Conditions favor option buyers.

REWARDS

RISK ANALYSIS

4.9VALUESENTIMENTACTIVITYLIQUIDITYTIMING

Snowflake Analysis

Balanced conditions with no clear edge

Learn
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TMQ Gamma Walls

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Value

Is IV priced right?

7.2
ExpensiveCheap

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

levels.

Risk Checks6/9 checks passed
≤35%

IV Rank 50.0% — elevated vs history

<1.05x

IV/HV 1.00x — IV ≤ HV

Sector Relative≤50%

Sector percentile 50% — below sector median

<1.1x

Front/Back 1.00x — flat

<1.25x

Put/Call IV 1.00x — normal

<80%

ATM IV 0.0% — normal range

<80%

Effective IV 72.0% (ATM 0.0% + spread 36.0% + bias) — fair

<3.0%

Total drag 45.56% (spread 36.02% + slippage 9.54%) — high friction

≥5.0

Vega efficiency 0.00 (vega 0.000 / spread 36.02%) — spread drag

Sentiment

Bullish or bearish?

6.7
BearishBullish

Analyzes

,
, and flow direction to determine market bias.

Risk ChecksNeutral - Strong signal (Conviction: +6%, Raw: +19%)
|net sentiment| ≥25%

Conviction-weighted: +6% (neutral) — Raw: +19%

≥15%

|OI skew| 68.9% — call-heavy

Same sign, |vol skew| ≥10%

Vol skew +93.1%, OI skew +68.9% — aligned

≥2/3 conditions

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

|change| ≥3%

OI change +0.0% (5d) — stable

|weighted flow| ≥20%

ITM: -44%, ATM: +0%, OTM: +33% — strong bearish (ITM/ATM divergent)

Sector Relative≤40% or ≥60%

Sector P/C percentile 11% — very bullish vs sector

Activity

Unusual activity?

1.8
QuietActive

Detects volume surges,

, and unusual options activity that may signal moves.

Risk Checks0/8 checks passed
≥1.5x

Volume 0.2x avg — normal

≥15%

Vol/OI 0.5% — normal turnover

≥2 days

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

≥5%

OI change +2.7% (5d) — building

Sector Relative≥60%

Sector activity percentile 14% — quiet vs sector

≥30%

Large trade volume 0% — mostly retail

≥60%

Aggressive execution 28% — patient

≥30

Conviction +6 (bullish) — mixed

Liquidity

Can I trade efficiently?

3.4
IlliquidLiquid

Evaluates

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

Risk Checks3/8 checks passed
≤5.0%

Spread 36.0% — wide

≥10,000

OI 35,943 — adequate

≥500

Volume 174/day — thin

≤$0.50

$1.80 to cross — expensive

≥5 strikes

0 liquid strikes — limited options

Sector Relative≤40%

Sector spread percentile 0% — much tighter than sector

≥100 contracts

Depth 1,066.1 contracts (bid:697.2 ask:368.9) — deep

<1.0%

Avg slippage 9.54% — poor

Timing

Is now a good time?

5.7
RiskyFavorable

Considers earnings proximity,

, and event calendar for optimal entry timing.

Risk Checks3/9 checks passed
|slope| ≥5%

Slope +0.0% — flat/unclear

<30 or >70

IV percentile 50% — neutral

≥10pts kink

IV kink 0.0pts — no clear event

<0.5 or >2.0

θ/ν ratio 1.00 — favors mixed

≥3 expirations

3 liquid expirations — flexible

≥60% (safe)

safe window: Earnings in 29d (low risk)

<1.2 ratio

Spread ratio 1.00x — stable

≥25% strength + ≥50% consistency

Flow +6% @ 53% consistency — unclear

≥40 composite score

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

Directional Strategy Fit

Option Buyers
Long Calls7.0
bullishIV cheap, bullish flow
Long Puts5.0
bearishIV cheap, bullish flow
Premium Sellers
Cash-Secured Put4.7
bullishIV too cheap, bullish flow
Covered Call3.5
bearishIV too cheap, 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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