WSTWest Pharmaceutical Services, Inc.
Options Analysis Report•SURGICAL & MEDICAL INSTRUMENTS & APPARATUS
Market Cap $19.7B|NYSE
● 2026-04-17$273.73
NEUTRAL
Analysis: 2026-04-16 EOD data
1Y +33.0%YTD -1.0%7D +6.7%
Options Vol
187
30D
Implied Move
±15.4%
IV Rank
43%
WST Options Overview
IV is elevated. Conditions favor premium sellers.
REWARDS
RISK ANALYSIS
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Value
Is IV priced right?
3.6
ExpensiveCheap
Measures whether options are cheap, fair, or rich relative to historical and peer
IV
levels.Risk Checks4/9 checks passed
IV Rank
≤35%IV Rank 74.7% — elevated vs history
IV/HV Ratio
<1.05xIV/HV 1.90x — IV premium over HV
Sector Relative≤50%
Sector percentile 73% — above sector median
Term Structure
<1.1xFront/Back 1.28x — backwardation
Skew Normal
<1.25xPut/Call IV 1.16x — elevated
Absolute IV
<80%ATM IV 44.4% — normal range
Spread-Adjusted Value
<80%Effective IV 59.6% (ATM 44.4% + spread 7.6% + bias) — good value
Execution Efficiency
<3.0%Total drag 9.65% (spread 7.61% + slippage 2.04%) — high friction
Vega Efficiency
≥5.0Vega efficiency 112.80 (vega 85.839 / spread 7.61%) — efficient
Sentiment
Bullish or bearish?
4.5
BearishBullish
Analyzes
put/call ratios
, open interest skew
, and flow direction to determine market bias.Risk ChecksBullish - Strong signal (Conviction: +11%, Raw: +15%)
Flow Direction
|net sentiment| ≥25%Conviction-weighted: +11% (bullish) — Raw: +15%
OI Skew Magnitude
≥15%|OI skew| 30.7% — put-heavy
Volume-OI Alignment
Same sign, |vol skew| ≥10%Vol skew -11.2%, OI skew -30.7% — aligned
Conviction Quality
≥2/3 conditions0-DTE 3%, far-OTM 15%, avg DTE 30
OI Momentum
|change| ≥3%OI change +0.0% (5d) — stable
Smart Money Flow
|weighted flow| ≥20%ITM: +69%, ATM: -26%, OTM: +63% — strong bullish (ITM/ATM divergent)
Sector Relative≤40% or ≥60%
Sector P/C percentile 64% — bearish vs sector
Activity
Unusual activity?
2.7
QuietActive
Detects volume surges,
block trades
, and unusual options activity that may signal moves.Risk Checks0/9 checks passed
Volume Surge
≥1.5xVolume 0.3x avg — normal
Turnover Rate
≥15%Vol/OI 2.3% — 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 +4.6% (5d) — building
Sector Relative≥60%
Sector activity percentile 41% — neutral vs sector
Trade Quality
≥30%Large trade volume 0% — mostly retail
Execution Urgency
≥60%Aggressive execution 23% — patient
Flow Conviction
≥30Conviction +11 (bullish) — mixed
Liquidity
Can I trade efficiently?
3.5
IlliquidLiquid
Evaluates
bid-ask spreads
, volume depth, and open interest for trade execution quality.Risk Checks1/8 checks passed
Tradeable Spread
≤5.0%Spread 7.6% — wide
Adequate OI
≥10,000OI 8,109 — thin
Active Volume
≥500Volume 187/day — thin
Reasonable Cost
≤$0.50$0.38 to cross — cheap
Strike Coverage
≥5 strikes0 liquid strikes — limited options
Sector Relative≤40%
Sector spread percentile 75% — wider than sector
Order Book Depth
≥100 contractsDepth 22.7 contracts (bid:10.1 ask:12.6) — thin
Execution Quality
<1.0%Avg slippage 2.04% — poor
Timing
Is now a good time?
7.2
RiskyFavorable
Considers earnings proximity,
time decay
, and event calendar for optimal entry timing.Risk Checks6/9 checks passed
Term Structure Clarity
|slope| ≥5%Slope +28.2% — backwardation
IV Percentile Clarity
<30 or >70IV percentile 75% — seller opportunity
Event Detection
≥10pts kinkIV kink 11.6pts — event priced
Theta/Vega Clarity
<0.5 or >2.0θ/ν ratio 1021.89 — favors income trades
Expiration Distribution
≥3 expirations3 liquid expirations — flexible
Event Risk
≥60% (safe)caution advised: Earnings in 6d (elevated risk)
Spread Momentum
<1.2 ratioSpread ratio 1.00x — stable
Flow Momentum
≥25% strength + ≥50% consistencyFlow +11% @ 56% consistency — unclear
Smart Money Timing
≥40 composite scoreScore 30 (ITM 20% + inst 0%) — retail dominated
Directional Strategy Fit
Option Buyers
Long Calls4.5
bullishIV expensive, mixed flow
Long Puts4.8
bearishIV expensive, mixed flow
Premium Sellers
Cash-Secured Put5.3
bullishIV rich premium, mixed flow
Covered Call5.6
bearishIV rich premium, mixed flow
For educational purposes only. Not investment advice.