VIAVViavi Solutions Inc. Common Stock
Options Analysis Report•SEMICONDUCTORS & RELATED DEVICES
Market Cap $12.0B|NASDAQ
● 2026-06-09$48.75
BULLISH
Analysis: 2026-06-08 EOD data
1Y +411.0%YTD +168.6%7D -7.8%
Options Vol
6,151
30D
Implied Move
±30.4%
IV Rank
100%
VIAV Options Overview
IV is elevated with bullish flow and unusual activity. Conditions favor premium sellers.
REWARDS
RISK ANALYSIS
Loading score history...
Value
Is IV priced right?
2.1
ExpensiveCheap
Measures whether options are cheap, fair, or rich relative to historical and peer
IV
levels.Risk Checks3/9 checks passed
IV Rank
≤35%IV Rank 94.1% — elevated vs history
IV/HV Ratio
<1.05xIV/HV 1.28x — IV premium over HV
Sector Relative≤50%
Sector percentile 86% — above sector median
Term Structure
<1.1xFront/Back 1.04x — flat
Skew Normal
<1.25xPut/Call IV 1.16x — elevated
Absolute IV
<80%ATM IV 103.6% — crisis-level IV
Spread-Adjusted Value
<80%Effective IV 121.9% (ATM 103.6% + spread 9.2% + bias) — expensive
Execution Efficiency
<3.0%Total drag 12.13% (spread 9.15% + slippage 2.98%) — high friction
Vega Efficiency
≥5.0Vega efficiency 10.67 (vega 9.763 / spread 9.15%) — efficient
Sentiment
Bullish or bearish?
5.6
BearishBullish
Analyzes
put/call ratios
, open interest skew
, and flow direction to determine market bias.Risk ChecksBearish - Strong signal (Conviction: -27%, Raw: -6%)
Flow Direction
|net sentiment| ≥25%Conviction-weighted: -27% (bearish) — Raw: -6%
OI Skew Magnitude
≥15%|OI skew| 33.7% — call-heavy
Volume-OI Alignment
Same sign, |vol skew| ≥10%Vol skew +89.1%, OI skew +33.7% — aligned
Conviction Quality
≥2/3 conditions0-DTE 0%, far-OTM 15%, avg DTE 30
OI Momentum
|change| ≥3%OI change +0.0% (5d) — stable
Smart Money Flow
|weighted flow| ≥20%ITM: +25%, ATM: -9%, OTM: -7% — bullish (ITM/ATM divergent)
Sector Relative≤40% or ≥60%
Sector P/C percentile 10% — very bullish vs sector
Activity
Unusual activity?
4.5
QuietActive
Detects volume surges,
block trades
, and unusual options activity that may signal moves.Risk Checks3/9 checks passed
Volume Surge
≥1.5xVolume 0.6x avg — normal
Turnover Rate
≥15%Vol/OI 4.2% — 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 +6.2% (5d) — building
Sector Relative≥60%
Sector activity percentile 61% — active vs sector
Trade Quality
≥30%Large trade volume 40% — institutional presence
Execution Urgency
≥60%Aggressive execution 42% — patient
Flow Conviction
≥30Conviction -27 (bearish) — mixed
Liquidity
Can I trade efficiently?
4.2
IlliquidLiquid
Evaluates
bid-ask spreads
, volume depth, and open interest for trade execution quality.Risk Checks4/8 checks passed
Tradeable Spread
≤5.0%Spread 9.2% — wide
Adequate OI
≥10,000OI 144,757 — deep
Active Volume
≥500Volume 6,151/day — active
Reasonable Cost
≤$0.50$0.46 to cross — cheap
Strike Coverage
≥5 strikes0 liquid strikes — limited options
Sector Relative≤40%
Sector spread percentile 92% — much wider than sector
Order Book Depth
≥100 contractsDepth 215.39999999999998 contracts (bid:146.6 ask:68.8) — adequate
Execution Quality
<1.0%Avg slippage 2.98% — poor
Timing
Is now a good time?
7.2
RiskyFavorable
Considers earnings proximity,
time decay
, and event calendar for optimal entry timing.Risk Checks6/9 checks passed
Term Structure Clarity
|slope| ≥5%Slope +4.2% — flat/unclear
IV Percentile Clarity
<30 or >70IV percentile 94% — seller opportunity
Event Detection
≥10pts kinkIV kink 6.0pts — no clear event
Theta/Vega Clarity
<0.5 or >2.0θ/ν ratio 189.21 — favors income trades
Expiration Distribution
≥3 expirations3 liquid expirations — flexible
Event Risk
≥60% (safe)caution advised: No earnings detected; CPI in 1d (HIGH)
Spread Momentum
<1.2 ratioSpread ratio 1.00x — stable
Flow Momentum
≥25% strength + ≥50% consistencyFlow -27% @ 63% consistency — moderate (bearish)
Smart Money Timing
≥40 composite scoreScore 70 (ITM 20% + inst 40%) — HIGH institutional
Directional Strategy Fit
Option Buyers
Long Calls4.4
bullishIV expensive, mixed flow
Long Puts4.0
bearishIV expensive, mixed flow
Premium Sellers
Cash-Secured Put6.7
bullishIV rich premium, mixed flow
Covered Call5.8
bearishIV rich premium, mixed flow
For educational purposes only. Not investment advice.