unusual activity. No clear edge detected.
Is IV priced right?
Measures whether options are cheap, fair, or rich relative to historical and peer
IV Rank 69.1% — elevated vs history
IV/HV 1.13x — IV premium over HV
Sector percentile 79% — above sector median
Front/Back 0.99x — contango
Put/Call IV 1.16x — elevated
ATM IV 56.8% — normal range
Effective IV 79.9% (ATM 56.8% + spread 11.6% + bias) — fair
Total drag 16.37% (spread 11.57% + slippage 4.80%) — high friction
Vega efficiency 6.69 (vega 7.736 / spread 11.57%) — acceptable
Bullish or bearish?
Analyzes
Conviction-weighted: -54% (strong bearish) — Raw: -66%
|OI skew| 78.2% — call-heavy
Vol skew +87.6%, OI skew +78.2% — aligned
0-DTE 9%, far-OTM 15%, avg DTE 30
OI change +0.0% (5d) — stable
ITM: +46%, ATM: +1%, OTM: -78% — strong bullish (ITM/ATM aligned)
Sector P/C percentile 5% — very bullish vs sector
Unusual activity?
Detects volume surges,
Volume 2.8x avg — hot
Vol/OI 3.5% — normal turnover
Top 3 strikes = 50% — dispersed
1 day(s) elevated — may be one-day event
OI change -1.1% (5d) — stable
Sector activity percentile 52% — neutral vs sector
Large trade volume 3% — mostly retail
Aggressive execution 39% — patient
Conviction -54 (bearish) — strong conviction
Can I trade efficiently?
Evaluates
Spread 11.6% — wide
OI 169,791 — deep
Volume 5,918/day — active
$0.58 to cross — expensive
0 liquid strikes — limited options
Sector spread percentile 83% — much wider than sector
Depth 417.8 contracts (bid:282.6 ask:135.2) — adequate
Avg slippage 4.80% — poor
Is now a good time?
Considers earnings proximity,
Slope -1.1% — flat/unclear
IV percentile 69% — neutral
IV kink 0.1pts — no clear event
θ/ν ratio 100.60 — favors income trades
3 liquid expirations — flexible
safe window: No earnings detected
Spread ratio 1.00x — stable
Flow -54% @ 77% consistency — STRONG directional (bearish)
Score 33 (ITM 20% + inst 3%) — retail dominated
For educational purposes only. Not investment advice.