ZTSZOETIS INC.
Options Analysis Report•PHARMACEUTICAL PREPARATIONS
Market Cap $51.5B|NYSE
● 2026-04-17$122.38
NEUTRAL
Analysis: 2026-04-16 EOD data
1Y -16.7%YTD -2.8%7D +3.8%
Options Vol
2,262
30D
Implied Move
±11.8%
IV Rank
65%
ZTS Options Overview
Mixed signals. No clear edge detected.
REWARDS
RISK ANALYSIS
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Value
Is IV priced right?
4.9
ExpensiveCheap
Measures whether options are cheap, fair, or rich relative to historical and peer
IV
levels.Risk Checks5/9 checks passed
IV Rank
≤35%IV Rank 45.2% — elevated vs history
IV/HV Ratio
<1.05xIV/HV 1.53x — IV premium over HV
Sector Relative≤50%
Sector percentile 41% — below sector median
Term Structure
<1.1xFront/Back 1.20x — backwardation
Skew Normal
<1.25xPut/Call IV 1.16x — elevated
Absolute IV
<80%ATM IV 34.4% — normal range
Spread-Adjusted Value
<80%Effective IV 59.5% (ATM 34.4% + spread 12.5% + bias) — good value
Execution Efficiency
<3.0%Total drag 17.91% (spread 12.54% + slippage 5.37%) — high friction
Vega Efficiency
≥5.0Vega efficiency 32.07 (vega 40.221 / spread 12.54%) — efficient
Sentiment
Bullish or bearish?
4.9
BearishBullish
Analyzes
put/call ratios
, open interest skew
, and flow direction to determine market bias.Risk ChecksBullish - Moderate signal (Conviction: +15%, Raw: +14%)
Flow Direction
|net sentiment| ≥25%Conviction-weighted: +15% (bullish) — Raw: +14%
OI Skew Magnitude
≥15%|OI skew| 53.5% — call-heavy
Volume-OI Alignment
Same sign, |vol skew| ≥10%Vol skew -39.5%, OI skew +53.5% — divergent (opposite)
Conviction Quality
≥2/3 conditions0-DTE 21%, far-OTM 15%, avg DTE 30
OI Momentum
|change| ≥3%OI change +0.0% (5d) — stable
Smart Money Flow
|weighted flow| ≥20%ITM: -20%, ATM: -32%, OTM: +28% — strong bearish (ITM/ATM aligned)
Sector Relative≤40% or ≥60%
Sector P/C percentile 85% — very bearish vs sector
Activity
Unusual activity?
5.0
QuietActive
Detects volume surges,
block trades
, and unusual options activity that may signal moves.Risk Checks3/9 checks passed
Volume Surge
≥1.5xVolume 1.7x avg — elevated
Turnover Rate
≥15%Vol/OI 3.5% — 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 +3.9% (5d) — building
Sector Relative≥60%
Sector activity percentile 61% — active vs sector
Trade Quality
≥30%Large trade volume 11% — mostly retail
Execution Urgency
≥60%Aggressive execution 62% — urgent
Flow Conviction
≥30Conviction +15 (bullish) — mixed
Liquidity
Can I trade efficiently?
3.7
IlliquidLiquid
Evaluates
bid-ask spreads
, volume depth, and open interest for trade execution quality.Risk Checks2/8 checks passed
Tradeable Spread
≤5.0%Spread 12.5% — wide
Adequate OI
≥10,000OI 64,951 — deep
Active Volume
≥500Volume 2,262/day — adequate
Reasonable Cost
≤$0.50$0.63 to cross — expensive
Strike Coverage
≥5 strikes0 liquid strikes — limited options
Sector Relative≤40%
Sector spread percentile 44% — neutral vs sector
Order Book Depth
≥100 contractsDepth 59.6 contracts (bid:21.0 ask:38.6) — thin
Execution Quality
<1.0%Avg slippage 5.37% — poor
Timing
Is now a good time?
7.1
RiskyFavorable
Considers earnings proximity,
time decay
, and event calendar for optimal entry timing.Risk Checks6/9 checks passed
Term Structure Clarity
|slope| ≥5%Slope +20.2% — backwardation
IV Percentile Clarity
<30 or >70IV percentile 45% — neutral
Event Detection
≥10pts kinkIV kink 6.1pts — no clear event
Theta/Vega Clarity
<0.5 or >2.0θ/ν ratio 1340.68 — favors income trades
Expiration Distribution
≥3 expirations3 liquid expirations — flexible
Event Risk
≥60% (safe)safe window: Earnings in 20d (low risk)
Spread Momentum
<1.2 ratioSpread ratio 1.00x — stable
Flow Momentum
≥25% strength + ≥50% consistencyFlow +15% @ 58% consistency — unclear
Smart Money Timing
≥40 composite scoreScore 41 (ITM 20% + inst 11%) — moderate institutional
Directional Strategy Fit
Option Buyers
Long Calls5.1
bullishIV fair, mixed flow
Long Puts5.1
bearishIV fair, mixed flow
Premium Sellers
Cash-Secured Put5.1
bullishIV fair, mixed flow
Covered Call5.1
bearishIV fair, mixed flow
For educational purposes only. Not investment advice.