Options/ETN

ETNEaton Corporation, plc Ordinary Shares

Options Analysis Report•MISC INDUSTRIAL & COMMERCIAL MACHINERY & EQUIPMENT

Market Cap $156.4B|NYSE

● 2026-08-28$402.78

NEUTRAL

Analysis: 2026-08-27 EOD data

1Y +15.4%YTD +23.1%7D -3.9%

Options Vol

2,932

30D

Implied Move

±10.4%

IV Rank

12%

ETN Options Overview

IV is elevated with bearish flow. Conditions favor premium sellers.

REWARDS

RISK ANALYSIS

Snowflake Analysis

Favorable conditions for premium sellers

Learn

Loading score history...

ETN Gamma Walls

Loading gamma walls...

ETN Hedge Radar

Neutral

Full Hedge Radar

Neither score is at an extreme today. Neither axis is a forecast — this is where ETN sits on protection cost vs. fragility today.

Protection is priced in the cheap band (2.2) — downside puts carry 0.3 IV points more than at-the-money, and near-dated vol is priced 5% below far-dated, measured against this name's own rolling 20-trading-day realized moves (484 overlapping windows). Fragility reads neutral (4.19): it is trading 3% above its hedge wall on a wall graded HIGH for reliability, and its realized-vol regime is stable.

Protection cost

2.20/ 10cheap

Basis: cross_sectional

Fragility

4.19/ 10neutral

Basis: per_ticker

Value

Is IV priced right?

5.7

ExpensiveCheap

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

levels.

Risk Checks6/9 checks passed

IV Rank

≤35%

IV Rank 73.3% — elevated vs history

IV/HV Ratio

<1.05x

IV/HV 0.88x — IV ≤ HV

Sector Relative≤50%

Sector percentile 87% — above sector median

Term Structure

<1.1x

Front/Back 0.95x — contango

Skew Normal

<1.25x

Put/Call IV 1.16x — elevated

Absolute IV

<80%

ATM IV 38.3% — normal range

Spread-Adjusted Value

<80%

Effective IV 60.1% (ATM 38.3% + spread 10.9% + bias) — good value

Execution Efficiency

<3.0%

Total drag 16.69% (spread 10.89% + slippage 5.80%) — high friction

Vega Efficiency

≥5.0

Vega efficiency 41.91 (vega 45.637 / spread 10.89%) — efficient

Sentiment

Bullish or bearish?

3.3

BearishBullish

Analyzes

put/call ratios

open interest skew

, and flow direction to determine market bias.

Risk ChecksBearish - Moderate signal (Conviction: -16%, Raw: -16%)

Flow Direction

|net sentiment| ≥25%

Conviction-weighted: -16% (bearish) — Raw: -16%

OI Skew Magnitude

≥15%

|OI skew| 2.4% — balanced

Volume-OI Alignment

Same sign, |vol skew| ≥10%

Vol skew -30.9%, OI skew -2.4% — aligned

Conviction Quality

≥2/3 conditions

0-DTE 29%, far-OTM 15%, avg DTE 30

OI Momentum

|change| ≥3%

OI change +0.0% (5d) — stable

Smart Money Flow

|weighted flow| ≥20%

ITM: -24%, ATM: -38%, OTM: -12% — strong bearish (ITM/ATM aligned)

Sector Relative≤40% or ≥60%

Sector P/C percentile 81% — very bearish vs sector

Activity

Unusual activity?

2.7

QuietActive

Detects volume surges,

block trades

, and unusual options activity that may signal moves.

Risk Checks0/8 checks passed

Volume Surge

≥1.5x

Volume 0.4x avg — normal

Turnover Rate

≥15%

Vol/OI 2.9% — normal turnover

Multi-Day Persistence

≥2 days

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

OI Build

≥5%

OI change -10.7% (5d) — unwinding

Sector Relative≥60%

Sector activity percentile 49% — neutral vs sector

Trade Quality

≥30%

Large trade volume 20% — mixed

Execution Urgency

≥60%

Aggressive execution 25% — patient

Flow Conviction

≥30

Conviction -16 (bearish) — mixed

Liquidity

Can I trade efficiently?

4.0

IlliquidLiquid

Evaluates

bid-ask spreads

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

Risk Checks2/8 checks passed

Tradeable Spread

≤5.0%

Spread 10.9% — wide

Adequate OI

≥10,000

OI 102,987 — deep

Active Volume

≥500

Volume 2,932/day — adequate

Reasonable Cost

≤$0.50

$0.54 to cross — expensive

Strike Coverage

≥5 strikes

3 liquid strikes — limited options

Sector Relative≤40%

Sector spread percentile 88% — much wider than sector

Order Book Depth

≥100 contracts

Depth 40.9 contracts (bid:19.4 ask:21.5) — thin

Execution Quality

<1.0%

Avg slippage 5.80% — poor

Timing

Is now a good time?

7.1

RiskyFavorable

Considers earnings proximity,

time decay

, and event calendar for optimal entry timing.

Risk Checks6/9 checks passed

Term Structure Clarity

|slope| ≥5%

Slope -4.9% — flat/unclear

IV Percentile Clarity

<30 or >70

IV percentile 73% — seller opportunity

Event Detection

≥10pts kink

IV kink -0.4pts — no clear event

Theta/Vega Clarity

<0.5 or >2.0

θ/ν ratio 140.94 — favors income trades

Expiration Distribution

≥3 expirations

4 liquid expirations — flexible

Event Risk

≥60% (safe)

safe window: No events detected

Spread Momentum

<1.2 ratio

Spread ratio 1.00x — stable

Flow Momentum

≥25% strength + ≥50% consistency

Flow -16% @ 58% consistency — unclear

Smart Money Timing

≥40 composite score

Score 50 (ITM 20% + inst 20%) — moderate institutional

Directional Strategy Fit

Option Buyers

Long Calls4.8

bullishIV fair, bearish flow

Long Puts6.0

bearishIV fair, bearish flow

Premium Sellers

Cash-Secured Put4.3

bullishIV fair, bearish flow

Covered Call5.5

bearishIV fair, 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.