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WLKWestlake Corporation

Options Analysis Report•INDUSTRIAL ORGANIC CHEMICALS
Market Cap $9.7B|NYSE
● 2026-08-31$75.71
NEUTRAL
Analysis: 2026-08-28 EOD data
1Y -12.5%YTD +2.1%7D -1.0%
668
30D
±10.9%
2%

WLK Options Overview

unusual activity. No clear edge detected.

REWARDS

RISK ANALYSIS

6.0VALUESENTIMENTACTIVITYLIQUIDITYTIMING

Snowflake Analysis

Balanced conditions with no clear edge

Learn
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WLK Gamma Walls

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Value

Is IV priced right?

8.0
ExpensiveCheap

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

levels.

Risk Checks7/9 checks passed
≤35%

IV Rank 66.0% — elevated vs history

<1.05x

IV/HV 0.71x — IV ≤ HV

Sector Relative≤50%

Sector percentile 46% — below sector median

<1.1x

Front/Back 0.86x — contango

<1.25x

Put/Call IV 1.16x — elevated

<80%

ATM IV 41.7% — normal range

<80%

Effective IV 70.0% (ATM 41.7% + spread 14.1% + bias) — fair

<3.0%

Total drag 20.37% (spread 14.14% + slippage 6.23%) — high friction

≥5.0

Vega efficiency 12.92 (vega 18.268 / spread 14.14%) — efficient

Sentiment

Bullish or bearish?

3.2
BearishBullish

Analyzes

,
, and flow direction to determine market bias.

Risk ChecksVery Bearish - Strong signal (Conviction: -95%, Raw: -94%)
|net sentiment| ≥25%

Conviction-weighted: -95% (strong bearish) — Raw: -94%

≥15%

|OI skew| 50.6% — call-heavy

Same sign, |vol skew| ≥10%

Vol skew +99.4%, OI skew +50.6% — 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: +0%, ATM: -33%, OTM: -95% — bearish (ITM/ATM divergent)

Sector Relative≤40% or ≥60%

Sector P/C percentile 1% — very bullish vs sector

Activity

Unusual activity?

8.4
QuietActive

Detects volume surges,

, and unusual options activity that may signal moves.

Risk Checks7/8 checks passed
≥1.5x

Volume 6.0x avg — hot

≥15%

Vol/OI 29.8% — high turnover

≥2 days

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

≥5%

OI change +12.7% (5d) — building

Sector Relative≥60%

Sector activity percentile 99% — very active vs sector

≥30%

Large trade volume 54% — heavy institutional

≥60%

Aggressive execution 118% — highly urgent

≥30

Conviction -95 (bearish) — strong conviction

Liquidity

Can I trade efficiently?

2.7
IlliquidLiquid

Evaluates

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

Risk Checks1/8 checks passed
≤5.0%

Spread 14.1% — wide

≥10,000

OI 2,239 — thin

≥500

Volume 668/day — adequate

≤$0.50

$0.71 to cross — expensive

≥5 strikes

0 liquid strikes — limited options

Sector Relative≤40%

Sector spread percentile 70% — wider than sector

≥100 contracts

Depth 39.4 contracts (bid:23.4 ask:16.0) — thin

<1.0%

Avg slippage 6.23% — poor

Timing

Is now a good time?

7.6
RiskyFavorable

Considers earnings proximity,

, and event calendar for optimal entry timing.

Risk Checks7/9 checks passed
|slope| ≥5%

Slope -14.1% — contango

<30 or >70

IV percentile 66% — neutral

≥10pts kink

IV kink -3.2pts — no clear event

<0.5 or >2.0

θ/ν ratio 615.08 — 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 -95% @ 97% consistency — STRONG directional (bearish)

≥40 composite score

Score 84 (ITM 20% + inst 54%) — HIGH institutional

Directional Strategy Fit

Option Buyers
Long Calls5.5
bullishIV cheap, bearish flow
Long Puts6.7
bearishIV cheap, bearish flow
Premium Sellers
Cash-Secured Put3.4
bullishIV too cheap, bearish flow
Covered Call4.7
bearishIV too cheap, 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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