📊 Weekly Table Overview: The Implied Truth

This table offers a high-level view of critical options, volatility, and momentum metrics across major ETFs, equipping you with insights to spot high-probability setups in the options market. It highlights where premiums are elevated, trends may be shifting, and price extremes signal potential reversals, key data points for any serious options strategy.

Options trading is about playing the odds, not predicting outcomes. When implied volatility expands, opportunity often follows, if you’re watching the right signals. Right now, we’re seeing meaningful dislocations between volatility, momentum, and market breadth across sectors—creating windows for both premium-selling setups and breakout trades for directional traders.

Want the full analysis? I cover this in more detail (including numerous trade ideas based on the table) in my free weekly newsletter, which hits your inbox every Sunday at 6PM ET.

The Implied Truth: Quick Reference for Options Traders

This curated snapshot gives you a tactical edge by blending volatility metrics, momentum indicators, and contrarian sentiment signals across key ETFs.

Key Metrics Explained

• Symbol
  The ETF ticker you're analyzing (e.g., SPY, QQQ, IWM).

• Last
  The most recent closing price.

• Put/Call Ratio (P/C Ratio)
  Measures option sentiment:

  • > 1.0 = Bearish tilt (more puts than calls)

  • < 1.0 = Bullish tilt (more calls than puts)
    Extreme values often mark contrarian setups.

• Implied Volatility (IV)
  Reflects market expectations of future movement.

  • Higher IV = Richer premiums and more expected price swings.

• IV Rank
  Compares current IV to its range over the past year.

  • 0% = Lowest IV of the year

  • 100% = Highest IV of the year

  • Above 35% often favors premium-selling strategies.

• IV Percentile
  Tells you the percentage of time over the past year that implied volatility (IV) has been lower than it is today. While IV Rank shows where today’s IV sits relative to the year’s high and low, IV Percentile shows how frequently the current level has been exceeded. Together, they help reveal whether a recent spike in volatility is a true outlier, or just noise. High percentile values suggest the current IV is uncommon, which often benefits premium sellers.

• Relative Strength Index (RSI 2 / 7 / 14)
  Measures momentum over short-, mid-, and long-term windows.

  • > 80 = Overbought

  • < 20 = Oversold

  • RSI(2) reacts fastest, RSI(14) shows the trend context.

Probabilities over predictions,

Andy Crowder

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