CEGConstellation Energy Corporation Common Stock
Options Analysis Report•ELECTRIC SERVICES
Market Cap $99.4B|NASDAQ
● 2026-05-15$275.26
NEUTRAL
Analysis: 2026-05-14 EOD data
1Y -3.2%YTD -24.8%7D -9.3%
Options Vol
20,038
30D
Implied Move
±14.5%
IV Rank
38%
CEG Options Overview
IV is elevated. Conditions favor premium sellers.
REWARDS
RISK ANALYSIS
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Value
Is IV priced right?
5.0
ExpensiveCheap
Measures whether options are cheap, fair, or rich relative to historical and peer
IV
levels.Risk Checks6/9 checks passed
IV Rank
≤35%IV Rank 86.2% — elevated vs history
IV/HV Ratio
<1.05xIV/HV 0.97x — IV ≤ HV
Sector Relative≤50%
Sector percentile 97% — above sector median
Term Structure
<1.1xFront/Back 1.03x — flat
Skew Normal
<1.25xPut/Call IV 1.16x — elevated
Absolute IV
<80%ATM IV 51.8% — normal range
Spread-Adjusted Value
<80%Effective IV 66.2% (ATM 51.8% + spread 7.2% + bias) — fair
Execution Efficiency
<3.0%Total drag 11.47% (spread 7.19% + slippage 4.28%) — high friction
Vega Efficiency
≥5.0Vega efficiency 63.86 (vega 45.917 / spread 7.19%) — efficient
Sentiment
Bullish or bearish?
3.5
BearishBullish
Analyzes
put/call ratios
, open interest skew
, and flow direction to determine market bias.Risk ChecksNeutral - Moderate signal (Conviction: -1%, Raw: +4%)
Flow Direction
|net sentiment| ≥25%Conviction-weighted: -1% (neutral) — Raw: +4%
OI Skew Magnitude
≥15%|OI skew| 17.2% — put-heavy
Volume-OI Alignment
Same sign, |vol skew| ≥10%Vol skew -25.2%, OI skew -17.2% — aligned
Conviction Quality
≥2/3 conditions0-DTE 51%, far-OTM 15%, avg DTE 30
OI Momentum
|change| ≥3%OI change +0.0% (5d) — stable
Smart Money Flow
|weighted flow| ≥20%ITM: +9%, ATM: -14%, OTM: +6% — neutral (ITM/ATM divergent)
Sector Relative≤40% or ≥60%
Sector P/C percentile 75% — very bearish vs sector
Activity
Unusual activity?
4.7
QuietActive
Detects volume surges,
block trades
, and unusual options activity that may signal moves.Risk Checks2/9 checks passed
Volume Surge
≥1.5xVolume 1.4x avg — normal
Turnover Rate
≥15%Vol/OI 8.3% — normal turnover
Strike Concentration
≥60%Top 3 strikes = 50% — dispersed
Multi-Day Persistence
≥2 days1 day(s) elevated — may be one-day event
OI Build
≥5%OI change +12.3% (5d) — building
Sector Relative≥60%
Sector activity percentile 91% — very active vs sector
Trade Quality
≥30%Large trade volume 8% — mostly retail
Execution Urgency
≥60%Aggressive execution 44% — patient
Flow Conviction
≥30Conviction -1 (bearish) — mixed
Liquidity
Can I trade efficiently?
4.8
IlliquidLiquid
Evaluates
bid-ask spreads
, volume depth, and open interest for trade execution quality.Risk Checks4/8 checks passed
Tradeable Spread
≤5.0%Spread 7.2% — wide
Adequate OI
≥10,000OI 240,000 — deep
Active Volume
≥500Volume 20,038/day — active
Reasonable Cost
≤$0.50$0.36 to cross — cheap
Strike Coverage
≥5 strikes0 liquid strikes — limited options
Sector Relative≤40%
Sector spread percentile 97% — much wider than sector
Order Book Depth
≥100 contractsDepth 128.3 contracts (bid:71.9 ask:56.4) — adequate
Execution Quality
<1.0%Avg slippage 4.28% — poor
Timing
Is now a good time?
7.0
RiskyFavorable
Considers earnings proximity,
time decay
, and event calendar for optimal entry timing.Risk Checks5/9 checks passed
Term Structure Clarity
|slope| ≥5%Slope +2.9% — flat/unclear
IV Percentile Clarity
<30 or >70IV percentile 86% — seller opportunity
Event Detection
≥10pts kinkIV kink 2.5pts — no clear event
Theta/Vega Clarity
<0.5 or >2.0θ/ν ratio 239.65 — favors income trades
Expiration Distribution
≥3 expirations5 liquid expirations — flexible
Event Risk
≥60% (safe)safe window: No events detected
Spread Momentum
<1.2 ratioSpread ratio 1.00x — stable
Flow Momentum
≥25% strength + ≥50% consistencyFlow -1% @ 50% consistency — unclear
Smart Money Timing
≥40 composite scoreScore 38 (ITM 20% + inst 8%) — retail dominated
Directional Strategy Fit
Option Buyers
Long Calls4.7
bullishIV fair, bearish flow
Long Puts5.8
bearishIV fair, bearish flow
Premium Sellers
Cash-Secured Put4.7
bullishIV fair, bearish flow
Covered Call5.8
bearishIV fair, bearish flow
For educational purposes only. Not investment advice.