VRTXVertex Pharmaceuticals Inc
Options Analysis Report•PHARMACEUTICAL PREPARATIONS
Market Cap $112.2B|NASDAQ
● 2026-04-17$441.20
BEARISH
Analysis: 2026-04-16 EOD data
1Y -7.6%YTD -2.4%7D +1.1%
Options Vol
1,936
30D
Implied Move
±9.6%
IV Rank
10%
VRTX Options Overview
bearish flow. No clear edge detected.
REWARDS
RISK ANALYSIS
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Value
Is IV priced right?
7.5
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 38.9% — elevated vs history
IV/HV Ratio
<1.05xIV/HV 1.22x — IV premium over HV
Sector Relative≤50%
Sector percentile 32% — below sector median
Term Structure
<1.1xFront/Back 0.89x — contango
Skew Normal
<1.25xPut/Call IV 1.16x — elevated
Absolute IV
<80%ATM IV 32.9% — normal range
Spread-Adjusted Value
<80%Effective IV 76.9% (ATM 32.9% + spread 22.0% + bias) — fair
Execution Efficiency
<3.0%Total drag 37.16% (spread 21.99% + slippage 15.17%) — high friction
Vega Efficiency
≥5.0Vega efficiency 24.69 (vega 54.300 / spread 21.99%) — efficient
Sentiment
Bullish or bearish?
2.9
BearishBullish
Analyzes
put/call ratios
, open interest skew
, and flow direction to determine market bias.Risk ChecksVery Bearish - Moderate signal (Conviction: -41%, Raw: -35%)
Flow Direction
|net sentiment| ≥25%Conviction-weighted: -41% (strong bearish) — Raw: -35%
OI Skew Magnitude
≥15%|OI skew| 8.6% — balanced
Volume-OI Alignment
Same sign, |vol skew| ≥10%Vol skew -23.9%, OI skew +8.6% — divergent (opposite)
Conviction Quality
≥2/3 conditions0-DTE 21%, far-OTM 15%, avg DTE 30
OI Momentum
|change| ≥3%OI change +0.0% (5d) — stable
Smart Money Flow
|weighted flow| ≥20%ITM: -16%, ATM: -19%, OTM: -43% — bearish (ITM/ATM aligned)
Sector Relative≤40% or ≥60%
Sector P/C percentile 78% — very bearish vs sector
Activity
Unusual activity?
3.8
QuietActive
Detects volume surges,
block trades
, and unusual options activity that may signal moves.Risk Checks2/9 checks passed
Volume Surge
≥1.5xVolume 0.7x avg — normal
Turnover Rate
≥15%Vol/OI 4.1% — 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 +3.6% (5d) — building
Sector Relative≥60%
Sector activity percentile 66% — active vs sector
Trade Quality
≥30%Large trade volume 0% — mostly retail
Execution Urgency
≥60%Aggressive execution 38% — patient
Flow Conviction
≥30Conviction -41 (bearish) — moderate
Liquidity
Can I trade efficiently?
3.4
IlliquidLiquid
Evaluates
bid-ask spreads
, volume depth, and open interest for trade execution quality.Risk Checks3/8 checks passed
Tradeable Spread
≤5.0%Spread 22.0% — wide
Adequate OI
≥10,000OI 47,438 — adequate
Active Volume
≥500Volume 1,936/day — adequate
Reasonable Cost
≤$0.50$1.10 to cross — expensive
Strike Coverage
≥5 strikes0 liquid strikes — limited options
Sector Relative≤40%
Sector spread percentile 36% — tighter than sector
Order Book Depth
≥100 contractsDepth 28.0 contracts (bid:14.0 ask:14.0) — thin
Execution Quality
<1.0%Avg slippage 15.17% — poor
Timing
Is now a good time?
7.3
RiskyFavorable
Considers earnings proximity,
time decay
, and event calendar for optimal entry timing.Risk Checks6/9 checks passed
Term Structure Clarity
|slope| ≥5%Slope -11.4% — contango
IV Percentile Clarity
<30 or >70IV percentile 39% — neutral
Event Detection
≥10pts kinkIV kink -3.2pts — no clear event
Theta/Vega Clarity
<0.5 or >2.0θ/ν ratio 189.86 — favors income trades
Expiration Distribution
≥3 expirations5 liquid expirations — flexible
Event Risk
≥60% (safe)safe window: Earnings in 17d (low risk)
Spread Momentum
<1.2 ratioSpread ratio 1.00x — stable
Flow Momentum
≥25% strength + ≥50% consistencyFlow -41% @ 70% consistency — STRONG directional (bearish)
Smart Money Timing
≥40 composite scoreScore 30 (ITM 20% + inst 0%) — retail dominated
Directional Strategy Fit
Option Buyers
Long Calls5.3
bullishIV cheap, bearish flow
Long Puts7.3
bearishIV cheap, bearish flow
Premium Sellers
Cash-Secured Put3.5
bullishIV too cheap, bearish flow
Covered Call5.0
bearishIV too cheap, bearish flow
For educational purposes only. Not investment advice.