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AWRAmerican States Water Company

Options Analysis Report•WATER SUPPLY
Market Cap $3.6B|NYSE
● 2026-08-31$89.88
BEARISH
Analysis: 2026-08-28 EOD data
1Y +22.3%YTD +24.4%7D -1.3%
197
30D
±4.5%
7%

AWR Options Overview

IV is low with bearish flow. Conditions favor option buyers.

REWARDS

RISK ANALYSIS

4.9VALUESENTIMENTACTIVITYLIQUIDITYTIMING

Snowflake Analysis

Favorable conditions for option buyers

Learn
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AWR Gamma Walls

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Value

Is IV priced right?

8.6
ExpensiveCheap

Measures whether options are cheap, fair, or rich relative to historical and peer

levels.

Risk Checks7/9 checks passed
≤35%

IV Rank 21.2% — cheap vs history

<1.05x

IV/HV 1.12x — IV premium over HV

Sector Relative≤50%

Sector percentile 16% — below sector median

<1.1x

Front/Back 0.72x — contango

<1.25x

Put/Call IV 1.16x — elevated

<80%

ATM IV 19.7% — normal range

<80%

Effective IV 69.6% (ATM 19.7% + spread 24.9% + bias) — fair

<3.0%

Total drag 27.83% (spread 24.94% + slippage 2.89%) — high friction

≥5.0

Vega efficiency 10.52 (vega 26.224 / spread 24.94%) — efficient

Sentiment

Bullish or bearish?

2.8
BearishBullish

Analyzes

,
, and flow direction to determine market bias.

Risk ChecksBearish - Strong signal (Conviction: -19%, Raw: -15%)
|net sentiment| ≥25%

Conviction-weighted: -19% (bearish) — Raw: -15%

≥15%

|OI skew| 13.7% — balanced

Same sign, |vol skew| ≥10%

Vol skew -95.9%, OI skew -13.7% — aligned

≥2/3 conditions

0-DTE 0%, far-OTM 15%, avg DTE 30

|change| ≥3%

OI change +0.0% (5d) — stable

|weighted flow| ≥20%

ITM: +0%, ATM: -100%, OTM: -15% — strong bearish (ITM/ATM divergent)

Sector Relative≤40% or ≥60%

Sector P/C percentile 99% — very bearish vs sector

Activity

Unusual activity?

3.8
QuietActive

Detects volume surges,

, and unusual options activity that may signal moves.

Risk Checks1/8 checks passed
≥1.5x

Volume 1.2x avg — normal

≥15%

Vol/OI 5.5% — normal turnover

≥2 days

1 day(s) elevated — may be one-day event

≥5%

OI change +0.8% (5d) — stable

Sector Relative≥60%

Sector activity percentile 85% — very active vs sector

≥30%

Large trade volume 0% — mostly retail

≥60%

Aggressive execution 2% — patient

≥30

Conviction -19 (bearish) — mixed

Liquidity

Can I trade efficiently?

2.8
IlliquidLiquid

Evaluates

, volume depth, and open interest for trade execution quality.

Risk Checks0/8 checks passed
≤5.0%

Spread 24.9% — wide

≥10,000

OI 3,584 — thin

≥500

Volume 197/day — thin

≤$0.50

$1.25 to cross — expensive

≥5 strikes

0 liquid strikes — limited options

Sector Relative≤40%

Sector spread percentile 48% — neutral vs sector

≥100 contracts

Depth 52.7 contracts (bid:34.4 ask:18.3) — thin

<1.0%

Avg slippage 2.89% — poor

Timing

Is now a good time?

6.5
RiskyFavorable

Considers earnings proximity,

, and event calendar for optimal entry timing.

Risk Checks6/9 checks passed
|slope| ≥5%

Slope -28.3% — contango

<30 or >70

IV percentile 21% — buyer opportunity

≥10pts kink

IV kink -4.9pts — no clear event

<0.5 or >2.0

θ/ν ratio 1448.87 — favors income trades

≥3 expirations

3 liquid expirations — flexible

≥60% (safe)

safe window: No events detected

<1.2 ratio

Spread ratio 1.00x — stable

≥25% strength + ≥50% consistency

Flow -19% @ 60% consistency — unclear

≥40 composite score

Score 30 (ITM 20% + inst 0%) — retail dominated

Directional Strategy Fit

Option Buyers
Long Calls5.4
bullishIV cheap, bearish flow
Long Puts7.8
bearishIV cheap, bearish flow
Premium Sellers
Cash-Secured Put2.9
bullishIV too cheap, bearish flow
Covered Call4.5
bearishIV too cheap, bearish flow

For educational purposes only. Not investment advice.

The Options Desk tracks the move options price into every US earnings report the week of Aug 31, next to how much each stock has actually moved on its past prints — plus the SPY, QQQ and IWM expected ranges and the gamma walls that box them in.

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