Which options looked expensive against their own history and which looked cheap
中文标题
哪些期权相对自身历史显得昂贵，哪些显得便宜
Core conclusion · Tlines extraction
A 25 September 2026 snapshot ranked implied volatility for 511 option underlyings against their own past year. Valero and EWZ hit IV rank 100, while Broadcom and NVIDIA sat near their own floors. Rank and percentile diverged for names like Deutz and HYG. The screen only flags where to inspect the option chain; it is not a trading signal.
- Institution
- Saxo Bank
- Published
- 09/29/2026
- Research topic
- Not explicitly stated
- Time horizon
- October 2026 · September 2026
Key arguments
- High IV rank only means options are expensive relative to the underlying's own history, not that the shares are volatile.
- When IV rank and percentile diverge, the shape of the past year matters: Deutz and Wienerberger show rank far above percentile, indicating a quiet year interrupted by one sharp episode.
- HYG and KLAC would be excluded by a rank filter below 50, yet both spent most of the year cheaper, showing a single column can mislead.
- The screen is a filter for which option chains to inspect, where spread, open interest and catalysts do the real work.
Key numbers
- Valero IV rank
- 100
- Broadcom IV rank
- 1.2
- Underlyings scanned
- 511 (186 US, 325 euro-zone)
- Median US rank
- 37.0
- PayPal rank change
- +52.2 points
Main risks
- Data is from one session's close, not a trend; seventeen euro-zone underlyings returned no usable reading.
- Change figures rest on eight stored sessions, and the screen ignores spread, open interest and dividends.
- Options carry a high risk of rapid loss and are not suitable for every investor; a high rank is not a sell signal.
Corresponding source evidence
A biotech at 60 percent may be cheap by its own standards while a utility at 18 percent sits near the top of its range.
Neither refiner reports inside the front expiry, Valero on 22 October 2026 and Marathon on 3 November 2026, which in our view may point to something priced in the energy complex rather than to company events.
· October 2026(Sources: company announcements, 8 September 2026; Danaher investor relations.) A long option bought at an elevated level can lose its whole premium even if the underlying moves as expected.
· September 2026
Context: the conclusion is Tlines' automated extraction, not the institution's wording. Quoted evidence is publisher wording. Scope and date must travel with the conclusion.
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AI analysis
How this page was produced
Tlines extracted the conclusion, arguments, numbers and risks above from the report published by Saxo Bank on 09/29/2026, then structured them for comparison. The publisher's own wording is reachable through the source link on this page and is displayed in full above. Last updated 10/17/2026. Methodology · Source policy · AI usage · Request a correction