IV is low. No clear edge detected.
Is IV priced right?
Measures whether options are cheap, fair, or rich relative to historical and peer
IV Rank 4.9% — cheap vs history
IV/HV 1.07x — IV premium over HV
Sector percentile 8% — below sector median
Front/Back 1.15x — backwardation
Put/Call IV 1.16x — elevated
ATM IV 19.3% — normal range
Effective IV 50.9% (ATM 19.3% + spread 15.8% + bias) — good value
Total drag 20.48% (spread 15.78% + slippage 4.70%) — high friction
Vega efficiency 0.25 (vega 0.391 / spread 15.78%) — spread drag
Bullish or bearish?
Analyzes
Conviction-weighted: +18% (bullish) — Raw: +5%
|OI skew| 44.1% — put-heavy
Vol skew -21.4%, OI skew -44.1% — aligned
0-DTE 10%, far-OTM 15%, avg DTE 30
OI change +0.0% (5d) — stable
ITM: +81%, ATM: +6%, OTM: -23% — strong bullish (ITM/ATM aligned)
Sector P/C percentile 90% — very bearish vs sector
Unusual activity?
Detects volume surges,
Volume 0.4x avg — normal
Vol/OI 0.8% — normal turnover
Top 3 strikes = 50% — dispersed
1 day(s) elevated — may be one-day event
OI change +5.5% (5d) — building
Sector activity percentile 18% — quiet vs sector
Large trade volume 41% — institutional presence
Aggressive execution 21% — patient
Conviction +18 (bullish) — mixed
Can I trade efficiently?
Evaluates
Spread 15.8% — wide
OI 1,885,730 — deep
Volume 15,428/day — active
$0.79 to cross — expensive
0 liquid strikes — limited options
Sector spread percentile 24% — tighter than sector
Depth 623.9 contracts (bid:396.9 ask:227.0) — deep
Avg slippage 4.70% — poor
Is now a good time?
Considers earnings proximity,
Slope +14.8% — backwardation
IV percentile 5% — buyer opportunity
IV kink 0.9pts — no clear event
θ/ν ratio 10.14 — favors income trades
5 liquid expirations — flexible
safe window: No earnings detected
Spread ratio 1.00x — stable
Flow +18% @ 59% consistency — unclear
Score 71 (ITM 20% + inst 41%) — HIGH institutional
For educational purposes only. Not investment advice.