# Options Analysis

> Analyze listed equity or ETF options using real chain data, implied volatility, expiration structure, and scenario-based payoff tradeoffs. Use when Codex needs to evaluate a single option, compare strategies, explain implied move, review risk and reward, or build an options-analysis report without making unsourced live-market claims.

- Skill: `jlnbuiles/options-analysis` (Agent Skill, multi-file: 4 files)
- Install (CLI): `npx skillmds@latest add jlnbuiles/options-analysis`
- Raw SKILL.md: https://api.skillmd.com/api/skills/jlnbuiles/options-analysis/raw
- Safety review: pending
- Works with: Claude Code, Claude.ai, OpenAI Codex
- Category: Docs & Writing
- Author: jlnbuiles (https://skillmd.com/u/jlnbuiles)
- Updated: 2026-09-22
- Page: https://skillmd.com/skills/jlnbuiles/options-analysis

---


# Options Analysis

Use this skill for options-specific analysis on stocks or ETFs.

## Workflow

1. Frame the setup:
   - underlying
   - structure
   - expiry
   - strike(s)
   - user intent
2. Confirm the data:
   - underlying price
   - option chain
   - premium
   - IV or volatility proxy
   - liquidity if available
3. Evaluate:
   - structure and directional bias
   - volatility and time decay
   - liquidity
   - max gain, max loss, breakeven
4. Compare with the nearest practical alternatives when useful.
5. Produce a short report with:
   - setup summary
   - volatility / pricing context
   - risk / reward
   - bull / base / bear paths
   - best conservative and aggressive alternatives

## Rules

- Default to latest available market context unless the user explicitly asks for historical-only or prior-close analysis.
- Label data freshness.
- If the user asks for `current`, `right now`, or `latest`, require timestamped intraday underlying and chain data before quoting levels.
- Always show an `as_of` timestamp with timezone for underlying price and option chain snapshot.
- Never blend delayed underlying quotes with live chain screenshots without stating the timing mismatch.
- If quote and chain timestamps differ materially, downgrade confidence and state which one is stale.
- Do not claim Greeks, IV rank, or implied move unless a real source supports them.
- Treat wide spreads as real risk.
- If the setup is earnings-driven, call out IV crush risk.
- Keep the output practical and concise.

## MCP Integration

If `market-data-mcp` is available, use it as the default source for chain and underlying data.

- Preferred tools:
  - `get_quote`
  - `get_options_chain`
  - `get_bars`
- Always show:
  - `source`
  - `as_of`
  - stale or partial-data flags when present
- Freshness guardrails:
  - quote and chain data should be intraday current
  - stale chains must be labeled and treated as lower confidence
- On provider failure (`RATE_LIMITED`, `UPSTREAM_UNAVAILABLE`, `STALE_DATA`):
  - retry once if retryable
  - continue only with explicitly available data
  - avoid outputting Greeks or implied move if chain quality is insufficient

## References

- Read [references/options-framework.md](./references/options-framework.md) before detailed strategy analysis.
- Use [assets/options-report-template.md](./assets/options-report-template.md) for a full report.