unusual activity. Conditions favor premium sellers.
Is IV priced right?
Measures whether options are cheap, fair, or rich relative to historical and peer
IV Rank 35.1% — elevated vs history
IV/HV 1.32x — IV premium over HV
Sector percentile 48% — below sector median
Front/Back 1.38x — backwardation
Put/Call IV 1.16x — elevated
ATM IV 35.0% — normal range
Effective IV 54.0% (ATM 35.0% + spread 9.5% + bias) — good value
Total drag 16.27% (spread 9.51% + slippage 6.76%) — high friction
Vega efficiency 2.50 (vega 2.378 / spread 9.51%) — spread drag
Bullish or bearish?
Analyzes
Conviction-weighted: -20% (bearish) — Raw: -10%
|OI skew| 49.0% — put-heavy
Vol skew +6.1%, OI skew -49.0% — divergent (opposite)
0-DTE 8%, far-OTM 15%, avg DTE 30
OI change +0.0% (5d) — stable
ITM: -98%, ATM: +43%, OTM: -22% — strong bearish (ITM/ATM divergent)
Sector P/C percentile 30% — very bullish vs sector
Unusual activity?
Detects volume surges,
Volume 0.6x avg — normal
Vol/OI 3.3% — normal turnover
Top 3 strikes = 50% — dispersed
1 day(s) elevated — may be one-day event
OI change +1.7% (5d) — stable
Sector activity percentile 51% — neutral vs sector
Large trade volume 36% — institutional presence
Aggressive execution 65% — urgent
Conviction -20 (bearish) — mixed
Can I trade efficiently?
Evaluates
Spread 9.5% — wide
OI 440,939 — deep
Volume 14,641/day — active
$0.48 to cross — cheap
0 liquid strikes — limited options
Sector spread percentile 57% — neutral vs sector
Depth 333.5 contracts (bid:160.2 ask:173.3) — adequate
Avg slippage 6.76% — poor
Is now a good time?
Considers earnings proximity,
Slope +38.4% — backwardation
IV percentile 35% — neutral
IV kink 8.5pts — no clear event
θ/ν ratio 2.49 — favors income trades
5 liquid expirations — flexible
safe window: No earnings detected
Spread ratio 1.00x — stable
Flow -20% @ 60% consistency — unclear
Score 66 (ITM 20% + inst 36%) — HIGH institutional
For educational purposes only. Not investment advice.