TXTTextron, Inc.
Options Analysis Report•AIRCRAFT & PARTS
Market Cap $15.9B|NYSE
● 2026-04-17$91.61
NEUTRAL
Analysis: 2026-04-16 EOD data
1Y +41.9%YTD +5.2%7D +0.2%
Options Vol
236
30D
Implied Move
±9.3%
IV Rank
40%
TXT Options Overview
IV is low with bullish flow. Conditions favor option buyers.
REWARDS
RISK ANALYSIS
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Value
Is IV priced right?
7.3
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 27.2% — cheap vs history
IV/HV Ratio
<1.05xIV/HV 1.21x — IV premium over HV
Sector Relative≤50%
Sector percentile 17% — below sector median
Term Structure
<1.1xFront/Back 1.09x — backwardation
Skew Normal
<1.25xPut/Call IV 1.16x — elevated
Absolute IV
<80%ATM IV 30.4% — normal range
Spread-Adjusted Value
<80%Effective IV 81.0% (ATM 30.4% + spread 25.3% + bias) — expensive
Execution Efficiency
<3.0%Total drag 37.39% (spread 25.32% + slippage 12.07%) — high friction
Vega Efficiency
≥5.0Vega efficiency 11.35 (vega 28.746 / spread 25.32%) — efficient
Sentiment
Bullish or bearish?
4.5
BearishBullish
Analyzes
put/call ratios
, open interest skew
, and flow direction to determine market bias.Risk ChecksVery Bearish - Moderate signal (Conviction: -33%, Raw: -45%)
Flow Direction
|net sentiment| ≥25%Conviction-weighted: -33% (strong bearish) — Raw: -45%
OI Skew Magnitude
≥15%|OI skew| 11.8% — balanced
Volume-OI Alignment
Same sign, |vol skew| ≥10%Vol skew +66.1%, OI skew -11.8% — divergent (opposite)
Conviction Quality
≥2/3 conditions0-DTE 41%, far-OTM 15%, avg DTE 30
OI Momentum
|change| ≥3%OI change +0.0% (5d) — stable
Smart Money Flow
|weighted flow| ≥20%ITM: -33%, ATM: +1%, OTM: -78% — bearish (ITM/ATM divergent)
Sector Relative≤40% or ≥60%
Sector P/C percentile 15% — very bullish vs sector
Activity
Unusual activity?
3.0
QuietActive
Detects volume surges,
block trades
, and unusual options activity that may signal moves.Risk Checks1/9 checks passed
Volume Surge
≥1.5xVolume 0.7x avg — normal
Turnover Rate
≥15%Vol/OI 1.9% — 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 +1.1% (5d) — stable
Sector Relative≥60%
Sector activity percentile 21% — below sector avg
Trade Quality
≥30%Large trade volume 0% — mostly retail
Execution Urgency
≥60%Aggressive execution 48% — patient
Flow Conviction
≥30Conviction -33 (bearish) — moderate
Liquidity
Can I trade efficiently?
3.3
IlliquidLiquid
Evaluates
bid-ask spreads
, volume depth, and open interest for trade execution quality.Risk Checks2/8 checks passed
Tradeable Spread
≤5.0%Spread 25.3% — wide
Adequate OI
≥10,000OI 12,211 — adequate
Active Volume
≥500Volume 236/day — thin
Reasonable Cost
≤$0.50$1.27 to cross — expensive
Strike Coverage
≥5 strikes0 liquid strikes — limited options
Sector Relative≤40%
Sector spread percentile 20% — much tighter than sector
Order Book Depth
≥100 contractsDepth 65.0 contracts (bid:32.4 ask:32.6) — thin
Execution Quality
<1.0%Avg slippage 12.07% — poor
Timing
Is now a good time?
7.0
RiskyFavorable
Considers earnings proximity,
time decay
, and event calendar for optimal entry timing.Risk Checks7/9 checks passed
Term Structure Clarity
|slope| ≥5%Slope +8.7% — backwardation
IV Percentile Clarity
<30 or >70IV percentile 27% — buyer opportunity
Event Detection
≥10pts kinkIV kink 2.5pts — no clear event
Theta/Vega Clarity
<0.5 or >2.0θ/ν ratio 1324.70 — favors income trades
Expiration Distribution
≥3 expirations3 liquid expirations — flexible
Event Risk
≥60% (safe)acceptable: Earnings in 13d
Spread Momentum
<1.2 ratioSpread ratio 1.00x — stable
Flow Momentum
≥25% strength + ≥50% consistencyFlow -33% @ 66% consistency — moderate (bearish)
Smart Money Timing
≥40 composite scoreScore 30 (ITM 20% + inst 0%) — retail dominated
Directional Strategy Fit
Option Buyers
Long Calls5.6
bullishIV cheap, mixed flow
Long Puts6.0
bearishIV cheap, mixed flow
Premium Sellers
Cash-Secured Put4.1
bullishIV too cheap, mixed flow
Covered Call4.5
bearishIV too cheap, mixed flow
For educational purposes only. Not investment advice.