ULTAUlta Beauty, Inc. Common Stock
Options Analysis Report•RETAIL-RETAIL STORES, NEC
Market Cap $24.2B|NASDAQ
● 2026-04-17$553.36
NEUTRAL
Analysis: 2026-04-16 EOD data
1Y +51.3%YTD -10.8%7D +6.3%
Options Vol
1,618
30D
Implied Move
±9.8%
IV Rank
19%
ULTA Options Overview
Mixed signals. No clear edge detected.
REWARDS
RISK ANALYSIS
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Value
Is IV priced right?
5.8
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 52.9% — elevated vs history
IV/HV Ratio
<1.05xIV/HV 1.43x — IV premium over HV
Sector Relative≤50%
Sector percentile 41% — below sector median
Term Structure
<1.1xFront/Back 0.88x — contango
Skew Normal
<1.25xPut/Call IV 1.16x — elevated
Absolute IV
<80%ATM IV 37.2% — normal range
Spread-Adjusted Value
<80%Effective IV 71.2% (ATM 37.2% + spread 17.0% + bias) — fair
Execution Efficiency
<3.0%Total drag 24.64% (spread 17.02% + slippage 7.62%) — high friction
Vega Efficiency
≥5.0Vega efficiency 24.94 (vega 42.443 / spread 17.02%) — efficient
Sentiment
Bullish or bearish?
4.7
BearishBullish
Analyzes
put/call ratios
, open interest skew
, and flow direction to determine market bias.Risk ChecksBullish - Moderate signal (Conviction: +17%, Raw: +20%)
Flow Direction
|net sentiment| ≥25%Conviction-weighted: +17% (bullish) — Raw: +20%
OI Skew Magnitude
≥15%|OI skew| 4.1% — balanced
Volume-OI Alignment
Same sign, |vol skew| ≥10%Vol skew -36.6%, OI skew +4.1% — divergent (opposite)
Conviction Quality
≥2/3 conditions0-DTE 30%, far-OTM 15%, avg DTE 30
OI Momentum
|change| ≥3%OI change +0.0% (5d) — stable
Smart Money Flow
|weighted flow| ≥20%ITM: +68%, ATM: -29%, OTM: +22% — strong bullish (ITM/ATM divergent)
Sector Relative≤40% or ≥60%
Sector P/C percentile 90% — very bearish vs sector
Activity
Unusual activity?
2.9
QuietActive
Detects volume surges,
block trades
, and unusual options activity that may signal moves.Risk Checks1/9 checks passed
Volume Surge
≥1.5xVolume 0.4x avg — normal
Turnover Rate
≥15%Vol/OI 3.8% — 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 +9.5% (5d) — building
Sector Relative≥60%
Sector activity percentile 38% — below sector avg
Trade Quality
≥30%Large trade volume 0% — mostly retail
Execution Urgency
≥60%Aggressive execution 29% — patient
Flow Conviction
≥30Conviction +17 (bullish) — mixed
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 17.0% — wide
Adequate OI
≥10,000OI 42,446 — adequate
Active Volume
≥500Volume 1,618/day — adequate
Reasonable Cost
≤$0.50$0.85 to cross — expensive
Strike Coverage
≥5 strikes0 liquid strikes — limited options
Sector Relative≤40%
Sector spread percentile 42% — neutral vs sector
Order Book Depth
≥100 contractsDepth 27.7 contracts (bid:12.2 ask:15.5) — thin
Execution Quality
<1.0%Avg slippage 7.62% — 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 -12.1% — contango
IV Percentile Clarity
<30 or >70IV percentile 53% — neutral
Event Detection
≥10pts kinkIV kink -2.3pts — no clear event
Theta/Vega Clarity
<0.5 or >2.0θ/ν ratio 78.48 — 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 +17% @ 59% consistency — unclear
Smart Money Timing
≥40 composite scoreScore 30 (ITM 20% + inst 0%) — retail dominated
Directional Strategy Fit
Option Buyers
Long Calls5.2
bullishIV fair, mixed flow
Long Puts5.4
bearishIV fair, mixed flow
Premium Sellers
Cash-Secured Put4.6
bullishIV fair, mixed flow
Covered Call4.8
bearishIV fair, mixed flow
For educational purposes only. Not investment advice.