Options Flow Interpretation

Interpret the options flow for {COMPANY} ({TICKER}):

1. UNUSUAL OPTIONS ACTIVITY SNAPSHOT
   - Is today's options volume significantly above the 30-day average? By how much?
   - Are calls or puts dominating the flow? Call/Put ratio vs. historical norm.
   - Which strikes and expirations are seeing the most activity?

2. FLOW CLASSIFICATION
   - Bullish signals: large call buying, put selling, call spread purchases.
   - Bearish signals: large put buying, call selling, put spread purchases.
   - Hedging vs. speculation: is the flow opening new positions or closing existing ones?

3. SMART MONEY INDICATORS
   - Block trades (>$1M premium): direction and expiration.
   - Any "sweeps" across multiple exchanges (urgency indicator)?
   - Implied volatility (IV): rising IV on puts = fear; rising IV on calls = bullish speculation.

4. CATALYST CONTEXT
   - Is there an upcoming earnings, product launch, regulatory decision, or M&A event?
   - Is the options positioning consistent with a known upcoming catalyst?
   - Options market-implied move for the next earnings event (straddle price / stock price).

5. LIMITATIONS & CAVEATS
   - Options flow can reflect hedging by holders, not directional bets.
   - Large single trades may be part of a complex multi-leg strategy.
   - Always confirm with fundamental context before acting.

6. SIGNAL SUMMARY
   - Net signal: Bullish / Bearish / Mixed / Neutral.
   - Conviction level: High (multiple consistent signals) / Low (conflicting signals).
   - One trade idea suggested by the flow (if actionable).