Options/VRDN

VRDNViridian Therapeutics, Inc. Common Stock

Options Analysis Report•PHARMACEUTICAL PREPARATIONS

Market Cap $2.6B|NASDAQ

● 2026-08-31$23.16

BEARISH

Analysis: 2026-08-28 EOD data

1Y +21.0%YTD -24.5%7D -4.2%

Options Vol

1,463

30D

Implied Move

±18.1%

IV Rank

VRDN Options Overview

IV is elevated with unusual activity. No clear edge detected.

REWARDS

RISK ANALYSIS

Snowflake Analysis

Balanced conditions with no clear edge

Learn

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VRDN Gamma Walls

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Value

Is IV priced right?

5.2

ExpensiveCheap

Measures whether options are cheap, fair, or rich relative to historical and peer

levels.

Risk Checks3/9 checks passed

IV Rank

≤35%

IV Rank 85.6% — elevated vs history

IV/HV Ratio

<1.05x

IV/HV 1.25x — IV premium over HV

Sector Relative≤50%

Sector percentile 65% — above sector median

Term Structure

<1.1x

Front/Back 1.09x — backwardation

Skew Normal

<1.25x

Put/Call IV 1.16x — elevated

Absolute IV

<80%

ATM IV 63.5% — normal range

Spread-Adjusted Value

<80%

Effective IV 214.1% (ATM 63.5% + spread 75.3% + bias) — expensive

Execution Efficiency

<3.0%

Total drag 98.09% (spread 75.28% + slippage 22.81%) — high friction

Vega Efficiency

≥5.0

Vega efficiency 0.74 (vega 5.588 / spread 75.28%) — spread drag

Sentiment

Bullish or bearish?

4.9

BearishBullish

Analyzes

put/call ratios

open interest skew

, and flow direction to determine market bias.

Risk ChecksVery Bullish - Strong signal (Conviction: +40%, Raw: +38%)

Flow Direction

|net sentiment| ≥25%

Conviction-weighted: +40% (strong bullish) — Raw: +38%

OI Skew Magnitude

≥15%

|OI skew| 45.1% — put-heavy

Volume-OI Alignment

Same sign, |vol skew| ≥10%

Vol skew -98.5%, OI skew -45.1% — aligned

Conviction Quality

≥2/3 conditions

0-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: -71%, ATM: -100%, OTM: +40% — strong bearish (ITM/ATM aligned)

Sector Relative≤40% or ≥60%

Sector P/C percentile 99% — very bearish vs sector

Activity

Unusual activity?

7.5

QuietActive

Detects volume surges,

block trades

, and unusual options activity that may signal moves.

Risk Checks5/8 checks passed

Volume Surge

≥1.5x

Volume 6.0x avg — hot

Turnover Rate

≥15%

Vol/OI 17.8% — high turnover

Multi-Day Persistence

≥2 days

1 day(s) elevated — may be one-day event

OI Build

≥5%

OI change +3.7% (5d) — building

Sector Relative≥60%

Sector activity percentile 96% — very active vs sector

Trade Quality

≥30%

Large trade volume 23% — mixed

Execution Urgency

≥60%

Aggressive execution 71% — urgent

Flow Conviction

≥30

Conviction +40 (bullish) — moderate

Liquidity

Can I trade efficiently?

2.8

IlliquidLiquid

Evaluates

bid-ask spreads

, volume depth, and open interest for trade execution quality.

Risk Checks2/8 checks passed

Tradeable Spread

≤5.0%

Spread 75.3% — wide

Adequate OI

≥10,000

OI 8,223 — thin

Active Volume

≥500

Volume 1,463/day — adequate

Reasonable Cost

≤$0.50

$3.76 to cross — expensive

Strike Coverage

≥5 strikes

0 liquid strikes — limited options

Sector Relative≤40%

Sector spread percentile 85% — much wider than sector

Order Book Depth

≥100 contracts

Depth 115.2 contracts (bid:40.0 ask:75.2) — adequate

Execution Quality

<1.0%

Avg slippage 22.81% — poor

Timing

Is now a good time?

7.9

RiskyFavorable

Considers earnings proximity,

time decay

, and event calendar for optimal entry timing.

Risk Checks8/9 checks passed

Term Structure Clarity

|slope| ≥5%

Slope +9.2% — backwardation

IV Percentile Clarity

<30 or >70

IV percentile 86% — seller opportunity

Event Detection

≥10pts kink

IV kink -3.6pts — no clear event

Theta/Vega Clarity

<0.5 or >2.0

θ/ν ratio 393.55 — favors income trades

Expiration Distribution

≥3 expirations

3 liquid expirations — flexible

Event Risk

≥60% (safe)

safe window: No events detected

Spread Momentum

<1.2 ratio

Spread ratio 1.00x — stable

Flow Momentum

≥25% strength + ≥50% consistency

Flow +40% @ 70% consistency — STRONG directional (bullish)

Smart Money Timing

≥40 composite score

Score 53 (ITM 20% + inst 23%) — moderate institutional

Directional Strategy Fit

Option Buyers

Long Calls5.1

bullishIV fair, mixed flow

Long Puts6.2

bearishIV fair, mixed flow

Premium Sellers

Cash-Secured Put4.9

bullishIV fair, mixed flow

Covered Call5.0

bearishIV fair, mixed flow

For educational purposes only. Not investment advice.

The Options Desk tracks the move options price into every US earnings report the week of Aug 31, next to how much each stock has actually moved on its past prints — plus the SPY, QQQ and IWM expected ranges and the gamma walls that box them in.

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