**Sentiment:** Strongly bullish skew (puts very light vs calls). Call OI 35,607 vs put OI 5,423 (OI put/call 0.15). Volume also call-dominant (put/call 0.15).
**Positioning/flow:** Today’s volume (503) is below recent averages (vs 5D avg ~923; 10D avg ~678), suggesting enthusiasm is not accelerating today.
**Volatility:** 30D IV ~84% vs HV ~49.5% (options are expensive vs realized), but IV rank/percentile are extremely low (IV rank ~2; IV percentile ~3.4), implying current IV is low relative to its own history—often a setup for buying optionality, not necessarily a bullish stock signal by itself.
**Takeaway:** Options market leans bullish (crowded calls), but the underlying technical trend doesn’t confirm it yet.
