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WGOWinnebago Industries, Inc.

Options Analysis Report•MOTOR HOMES
Market Cap $865M|NYSE
● 2026-08-31$30.60
NEUTRAL
Analysis: 2026-08-28 EOD data
1Y -12.8%YTD -25.1%7D -4.8%
142
30D
±11.8%
4%

WGO Options Overview

IV is elevated. Conditions favor premium sellers.

REWARDS

RISK ANALYSIS

4.5VALUESENTIMENTACTIVITYLIQUIDITYTIMING

Snowflake Analysis

Favorable conditions for premium sellers

Learn
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WGO Gamma Walls

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Value

Is IV priced right?

4.8
ExpensiveCheap

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

levels.

Risk Checks3/9 checks passed
≤35%

IV Rank 71.0% — elevated vs history

<1.05x

IV/HV 1.31x — IV premium over HV

Sector Relative≤50%

Sector percentile 67% — above sector median

<1.1x

Front/Back 0.87x — contango

<1.25x

Put/Call IV 1.16x — elevated

<80%

ATM IV 45.6% — normal range

<80%

Effective IV 89.7% (ATM 45.6% + spread 22.0% + bias) — expensive

<3.0%

Total drag 27.50% (spread 22.04% + slippage 5.46%) — high friction

≥5.0

Vega efficiency 2.97 (vega 6.556 / spread 22.04%) — spread drag

Sentiment

Bullish or bearish?

3.6
BearishBullish

Analyzes

,
, and flow direction to determine market bias.

Risk ChecksVery Bearish - Strong signal (Conviction: -83%, Raw: -78%)
|net sentiment| ≥25%

Conviction-weighted: -83% (strong bearish) — Raw: -78%

≥15%

|OI skew| 20.4% — call-heavy

Same sign, |vol skew| ≥10%

Vol skew +78.9%, OI skew +20.4% — aligned

≥2/3 conditions

0-DTE 0%, far-OTM 15%, avg DTE 30

|change| ≥3%

OI change +0.0% (5d) — stable

|weighted flow| ≥20%

ITM: -33%, ATM: +0%, OTM: -90% — bearish (ITM/ATM divergent)

Sector Relative≤40% or ≥60%

Sector P/C percentile 12% — very bullish vs sector

Activity

Unusual activity?

3.6
QuietActive

Detects volume surges,

, and unusual options activity that may signal moves.

Risk Checks2/8 checks passed
≥1.5x

Volume 0.4x avg — normal

≥15%

Vol/OI 1.2% — normal turnover

≥2 days

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

≥5%

OI change +4.4% (5d) — building

Sector Relative≥60%

Sector activity percentile 36% — below sector avg

≥30%

Large trade volume 70% — heavy institutional

≥60%

Aggressive execution 42% — patient

≥30

Conviction -83 (bearish) — strong conviction

Liquidity

Can I trade efficiently?

2.6
IlliquidLiquid

Evaluates

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

Risk Checks1/8 checks passed
≤5.0%

Spread 22.0% — wide

≥10,000

OI 11,918 — adequate

≥500

Volume 142/day — thin

≤$0.50

$1.10 to cross — expensive

≥5 strikes

0 liquid strikes — limited options

Sector Relative≤40%

Sector spread percentile 82% — much wider than sector

≥100 contracts

Depth 82.5 contracts (bid:37.8 ask:44.7) — thin

<1.0%

Avg slippage 5.46% — poor

Timing

Is now a good time?

7.8
RiskyFavorable

Considers earnings proximity,

, and event calendar for optimal entry timing.

Risk Checks8/9 checks passed
|slope| ≥5%

Slope -13.4% — contango

<30 or >70

IV percentile 71% — seller opportunity

≥10pts kink

IV kink -4.2pts — no clear event

<0.5 or >2.0

θ/ν ratio 465.00 — favors income trades

≥3 expirations

3 liquid expirations — flexible

≥60% (safe)

safe window: No events detected

<1.2 ratio

Spread ratio 1.00x — stable

≥25% strength + ≥50% consistency

Flow -83% @ 91% consistency — STRONG directional (bearish)

≥40 composite score

Score 100 (ITM 20% + inst 70%) — HIGH institutional

Directional Strategy Fit

Option Buyers
Long Calls4.5
bullishIV fair, bearish flow
Long Puts5.5
bearishIV fair, bearish flow
Premium Sellers
Cash-Secured Put4.5
bullishIV fair, bearish flow
Covered Call5.5
bearishIV fair, bearish 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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