Sentiment/positioning: Open interest put/call at 0.51 leans call-heavy (more bullish positioning than bearish hedging). Today’s option volume was entirely calls (put volume 0), reinforcing a bullish tilt for the session.
Volatility/pricing: Implied vol (30D) is very high (~99.87) with IV percentile ~89.6, meaning options are priced expensively versus most of the past year. This often reflects elevated uncertainty and can coincide with sharp moves, but it also makes buying options less attractive from a cost standpoint.
Activity: Today’s volume (40 contracts) is low in absolute terms versus 5D/10D averages, so the bullish volume ratio is not strongly confirmed by large participation.
