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WMTWalmart Inc. Common Stock

Options Analysis Report•RETAIL-VARIETY STORES
Market Cap $820.4B|NASDAQ
● 2026-08-28$103.09
NEUTRAL
Analysis: 2026-08-27 EOD data
1Y +6.3%YTD -8.6%7D -0.6%
230,319
30D
±6.1%
8%

WMT Options Overview

IV is low with unusual activity. Conditions favor option buyers.

REWARDS

RISK ANALYSIS

7.1VALUESENTIMENTACTIVITYLIQUIDITYTIMING

Snowflake Analysis

Favorable conditions for option buyers

Learn
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WMT Gamma Walls

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Value

Is IV priced right?

9.4
ExpensiveCheap

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

levels.

Risk Checks8/9 checks passed
≤35%

IV Rank 9.3% — cheap vs history

<1.05x

IV/HV 0.57x — IV ≤ HV

Sector Relative≤50%

Sector percentile 9% — below sector median

<1.1x

Front/Back 0.78x — contango

<1.25x

Put/Call IV 1.16x — elevated

<80%

ATM IV 21.9% — normal range

<80%

Effective IV 30.1% (ATM 21.9% + spread 4.1% + bias) — excellent value

<3.0%

Total drag 6.97% (spread 4.08% + slippage 2.89%) — high friction

≥5.0

Vega efficiency 26.70 (vega 10.892 / spread 4.08%) — efficient

Sentiment

Bullish or bearish?

5.9
BearishBullish

Analyzes

,
, and flow direction to determine market bias.

Risk ChecksNeutral - Moderate signal (Conviction: -6%, Raw: -1%)
|net sentiment| ≥25%

Conviction-weighted: -6% (neutral) — Raw: -1%

≥15%

|OI skew| 21.0% — call-heavy

Same sign, |vol skew| ≥10%

Vol skew +19.1%, OI skew +21.0% — aligned

≥2/3 conditions

0-DTE 29%, far-OTM 15%, avg DTE 30

|change| ≥3%

OI change +0.0% (5d) — stable

|weighted flow| ≥20%

ITM: -12%, ATM: +8%, OTM: -1% — neutral (ITM/ATM divergent)

Sector Relative≤40% or ≥60%

Sector P/C percentile 29% — very bullish vs sector

Activity

Unusual activity?

5.8
QuietActive

Detects volume surges,

, and unusual options activity that may signal moves.

Risk Checks3/8 checks passed
≥1.5x

Volume 1.3x avg — normal

≥15%

Vol/OI 18.3% — high turnover

≥2 days

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

≥5%

OI change -12.9% (5d) — unwinding

Sector Relative≥60%

Sector activity percentile 91% — very active vs sector

≥30%

Large trade volume 35% — institutional presence

≥60%

Aggressive execution 51% — patient

≥30

Conviction -6 (bearish) — mixed

Liquidity

Can I trade efficiently?

7.0
IlliquidLiquid

Evaluates

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

Risk Checks6/8 checks passed
≤5.0%

Spread 4.1% — acceptable

≥10,000

OI 1,256,891 — deep

≥500

Volume 230,319/day — active

≤$0.50

$0.20 to cross — cheap

≥5 strikes

0 liquid strikes — limited options

Sector Relative≤40%

Sector spread percentile 14% — much tighter than sector

≥100 contracts

Depth 263.6 contracts (bid:112.3 ask:151.3) — adequate

<1.0%

Avg slippage 2.89% — poor

Timing

Is now a good time?

7.5
RiskyFavorable

Considers earnings proximity,

, and event calendar for optimal entry timing.

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

Slope -21.6% — contango

<30 or >70

IV percentile 9% — buyer opportunity

≥10pts kink

IV kink -3.1pts — no clear event

<0.5 or >2.0

θ/ν ratio 216.97 — favors income trades

≥3 expirations

5 liquid expirations — flexible

≥60% (safe)

safe window: No events detected

<1.2 ratio

Spread ratio 1.00x — stable

≥25% strength + ≥50% consistency

Flow -6% @ 53% consistency — unclear

≥40 composite score

Score 65 (ITM 20% + inst 35%) — HIGH institutional

Directional Strategy Fit

Option Buyers
Long Calls7.5
bullishIV cheap, mixed flow
Long Puts6.9
bearishIV cheap, mixed flow
Premium Sellers
Cash-Secured Put4.7
bullishIV too cheap, mixed flow
Covered Call4.1
bearishIV too cheap, 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.