TTWOTake-Two Interactive Software Inc
Options Analysis Report•SERVICES-PREPACKAGED SOFTWARE
Market Cap $39.3B|NASDAQ
● 2026-04-17$212.04
NEUTRAL
Analysis: 2026-04-16 EOD data
1Y +3.4%YTD -15.7%7D +7.6%
Options Vol
11,102
30D
Implied Move
±11.2%
IV Rank
31%
TTWO Options Overview
IV is elevated. Conditions favor premium sellers.
REWARDS
RISK ANALYSIS
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Value
Is IV priced right?
5.5
ExpensiveCheap
Measures whether options are cheap, fair, or rich relative to historical and peer
IV
levels.Risk Checks6/9 checks passed
IV Rank
≤35%IV Rank 70.7% — elevated vs history
IV/HV Ratio
<1.05xIV/HV 1.32x — IV premium over HV
Sector Relative≤50%
Sector percentile 33% — below sector median
Term Structure
<1.1xFront/Back 0.89x — contango
Skew Normal
<1.25xPut/Call IV 1.16x — elevated
Absolute IV
<80%ATM IV 42.7% — normal range
Spread-Adjusted Value
<80%Effective IV 55.4% (ATM 42.7% + spread 6.3% + bias) — good value
Execution Efficiency
<3.0%Total drag 9.42% (spread 6.33% + slippage 3.09%) — high friction
Vega Efficiency
≥5.0Vega efficiency 84.89 (vega 53.734 / spread 6.33%) — efficient
Sentiment
Bullish or bearish?
4.9
BearishBullish
Analyzes
put/call ratios
, open interest skew
, and flow direction to determine market bias.Risk ChecksNeutral - Weak signal (Conviction: -6%, Raw: -8%)
Flow Direction
|net sentiment| ≥25%Conviction-weighted: -6% (neutral) — Raw: -8%
OI Skew Magnitude
≥15%|OI skew| 11.0% — balanced
Volume-OI Alignment
Same sign, |vol skew| ≥10%Vol skew -7.9%, OI skew +11.0% — divergent (opposite)
Conviction Quality
≥2/3 conditions0-DTE 3%, far-OTM 15%, avg DTE 30
OI Momentum
|change| ≥3%OI change +0.0% (5d) — stable
Smart Money Flow
|weighted flow| ≥20%ITM: -23%, ATM: +6%, OTM: -18% — bearish (ITM/ATM divergent)
Sector Relative≤40% or ≥60%
Sector P/C percentile 83% — very bearish vs sector
Activity
Unusual activity?
5.3
QuietActive
Detects volume surges,
block trades
, and unusual options activity that may signal moves.Risk Checks3/9 checks passed
Volume Surge
≥1.5xVolume 1.7x avg — elevated
Turnover Rate
≥15%Vol/OI 7.0% — 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 +14.3% (5d) — building
Sector Relative≥60%
Sector activity percentile 54% — neutral vs sector
Trade Quality
≥30%Large trade volume 42% — institutional presence
Execution Urgency
≥60%Aggressive execution 32% — patient
Flow Conviction
≥30Conviction -6 (bearish) — mixed
Liquidity
Can I trade efficiently?
5.5
IlliquidLiquid
Evaluates
bid-ask spreads
, volume depth, and open interest for trade execution quality.Risk Checks4/8 checks passed
Tradeable Spread
≤5.0%Spread 6.3% — wide
Adequate OI
≥10,000OI 159,422 — deep
Active Volume
≥500Volume 11,102/day — active
Reasonable Cost
≤$0.50$0.32 to cross — cheap
Strike Coverage
≥5 strikes0 liquid strikes — limited options
Sector Relative≤40%
Sector spread percentile 34% — tighter than sector
Order Book Depth
≥100 contractsDepth 80.30000000000001 contracts (bid:35.7 ask:44.6) — thin
Execution Quality
<1.0%Avg slippage 3.09% — poor
Timing
Is now a good time?
7.5
RiskyFavorable
Considers earnings proximity,
time decay
, and event calendar for optimal entry timing.Risk Checks7/9 checks passed
Term Structure Clarity
|slope| ≥5%Slope -11.1% — contango
IV Percentile Clarity
<30 or >70IV percentile 71% — seller opportunity
Event Detection
≥10pts kinkIV kink -3.9pts — no clear event
Theta/Vega Clarity
<0.5 or >2.0θ/ν ratio 642.76 — favors income trades
Expiration Distribution
≥3 expirations5 liquid expirations — flexible
Event Risk
≥60% (safe)safe window: No events detected
Spread Momentum
<1.2 ratioSpread ratio 1.00x — stable
Flow Momentum
≥25% strength + ≥50% consistencyFlow -6% @ 53% consistency — unclear
Smart Money Timing
≥40 composite scoreScore 72 (ITM 20% + inst 42%) — HIGH institutional
Directional Strategy Fit
Option Buyers
Long Calls5.6
bullishIV fair, mixed flow
Long Puts5.7
bearishIV fair, mixed flow
Premium Sellers
Cash-Secured Put5.3
bullishIV fair, mixed flow
Covered Call5.4
bearishIV fair, mixed flow
For educational purposes only. Not investment advice.