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CQPCheniere Energy Partners, LP

Options Analysis Report•NATURAL GAS DISTRIBUTION
Market Cap $33.4B|NYSE
● 2026-08-31$68.91
BULLISH
Analysis: 2026-08-28 EOD data
1Y +26.6%YTD +27.6%7D +1.3%
11
30D
±7.2%
3%

CQP Options Overview

bullish flow. Conditions favor option buyers.

REWARDS

RISK ANALYSIS

5.6VALUESENTIMENTACTIVITYLIQUIDITYTIMING

Snowflake Analysis

Favorable conditions for option buyers

Learn
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CQP Gamma Walls

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Value

Is IV priced right?

8.3
ExpensiveCheap

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

levels.

Risk Checks5/9 checks passed
≤35%

IV Rank 35.9% — elevated vs history

<1.05x

IV/HV 0.81x — IV ≤ HV

Sector Relative≤50%

Sector percentile 13% — below sector median

<1.1x

Front/Back 0.94x — contango

<1.25x

Put/Call IV 1.16x — elevated

<80%

ATM IV 25.8% — normal range

<80%

Effective IV 115.1% (ATM 25.8% + spread 44.7% + bias) — expensive

<3.0%

Total drag 65.11% (spread 44.67% + slippage 20.44%) — high friction

≥5.0

Vega efficiency 3.41 (vega 15.226 / spread 44.67%) — spread drag

Sentiment

Bullish or bearish?

7.5
BearishBullish

Analyzes

,
, and flow direction to determine market bias.

Risk ChecksVery Bullish - Strong signal (Conviction: +33%, Raw: +50%)
|net sentiment| ≥25%

Conviction-weighted: +33% (strong bullish) — Raw: +50%

≥15%

|OI skew| 55.1% — call-heavy

Same sign, |vol skew| ≥10%

Vol skew +27.3%, OI skew +55.1% — 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: +0%, OTM: +50% — neutral (ITM/ATM divergent)

Sector Relative≤40% or ≥60%

Sector P/C percentile 62% — bearish vs sector

Activity

Unusual activity?

2.7
QuietActive

Detects volume surges,

, and unusual options activity that may signal moves.

Risk Checks1/8 checks passed
≥1.5x

Volume 0.2x avg — normal

≥15%

Vol/OI 0.5% — normal turnover

≥2 days

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

≥5%

OI change +3.0% (5d) — building

Sector Relative≥60%

Sector activity percentile 24% — below sector avg

≥30%

Large trade volume 0% — mostly retail

≥60%

Aggressive execution 50% — patient

≥30

Conviction +33 (bullish) — moderate

Liquidity

Can I trade efficiently?

2.4
IlliquidLiquid

Evaluates

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

Risk Checks0/8 checks passed
≤5.0%

Spread 44.7% — wide

≥10,000

OI 2,185 — thin

≥500

Volume 11/day — thin

≤$0.50

$2.23 to cross — expensive

≥5 strikes

0 liquid strikes — limited options

Sector Relative≤40%

Sector spread percentile 45% — neutral vs sector

≥100 contracts

Depth 15.0 contracts (bid:7.5 ask:7.5) — thin

<1.0%

Avg slippage 20.44% — poor

Timing

Is now a good time?

6.9
RiskyFavorable

Considers earnings proximity,

, and event calendar for optimal entry timing.

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

Slope -6.0% — contango

<30 or >70

IV percentile 36% — neutral

≥10pts kink

IV kink -0.9pts — no clear event

<0.5 or >2.0

θ/ν ratio 890.44 — 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 +33% @ 67% consistency — moderate (bullish)

≥40 composite score

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

Directional Strategy Fit

Option Buyers
Long Calls7.9
bullishIV cheap, bullish flow
Long Puts5.2
bearishIV cheap, bullish flow
Premium Sellers
Cash-Secured Put4.7
bullishIV too cheap, bullish flow
Covered Call2.9
bearishIV too cheap, bullish 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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