PCGPG&E Corporation
Options Analysis Report•ELECTRIC & OTHER SERVICES COMBINED
Market Cap $37.0B|NYSE
● 2026-05-15$16.81
BULLISH
Analysis: 2026-05-14 EOD data
1Y -3.1%YTD +3.3%7D +4.6%
Options Vol
7,680
30D
Implied Move
±8.1%
IV Rank
12%
PCG Options Overview
bullish flow. No clear edge detected.
REWARDS
RISK ANALYSIS
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Value
Is IV priced right?
4.9
ExpensiveCheap
Measures whether options are cheap, fair, or rich relative to historical and peer
IV
levels.Risk Checks4/9 checks passed
IV Rank
≤35%IV Rank 42.6% — elevated vs history
IV/HV Ratio
<1.05xIV/HV 1.54x — IV premium over HV
Sector Relative≤50%
Sector percentile 83% — above sector median
Term Structure
<1.1xFront/Back 0.82x — contango
Skew Normal
<1.25xPut/Call IV 1.16x — elevated
Absolute IV
<80%ATM IV 32.7% — normal range
Spread-Adjusted Value
<80%Effective IV 62.8% (ATM 32.7% + spread 15.0% + bias) — good value
Execution Efficiency
<3.0%Total drag 21.00% (spread 15.04% + slippage 5.96%) — high friction
Vega Efficiency
≥5.0Vega efficiency 0.64 (vega 0.964 / spread 15.04%) — spread drag
Sentiment
Bullish or bearish?
5.5
BearishBullish
Analyzes
put/call ratios
, open interest skew
, and flow direction to determine market bias.Risk ChecksBearish - Strong signal (Conviction: -28%, Raw: -23%)
Flow Direction
|net sentiment| ≥25%Conviction-weighted: -28% (bearish) — Raw: -23%
OI Skew Magnitude
≥15%|OI skew| 71.2% — call-heavy
Volume-OI Alignment
Same sign, |vol skew| ≥10%Vol skew +65.5%, OI skew +71.2% — aligned
Conviction Quality
≥2/3 conditions0-DTE 14%, far-OTM 15%, avg DTE 30
OI Momentum
|change| ≥3%OI change +0.0% (5d) — stable
Smart Money Flow
|weighted flow| ≥20%ITM: -43%, ATM: +17%, OTM: -50% — bearish (ITM/ATM divergent)
Sector Relative≤40% or ≥60%
Sector P/C percentile 12% — very bullish vs sector
Activity
Unusual activity?
3.8
QuietActive
Detects volume surges,
block trades
, and unusual options activity that may signal moves.Risk Checks1/9 checks passed
Volume Surge
≥1.5xVolume 0.2x avg — normal
Turnover Rate
≥15%Vol/OI 0.5% — 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 +33.2% (5d) — building
Sector Relative≥60%
Sector activity percentile 12% — quiet vs sector
Trade Quality
≥30%Large trade volume 26% — mixed
Execution Urgency
≥60%Aggressive execution 57% — patient
Flow Conviction
≥30Conviction -28 (bearish) — mixed
Liquidity
Can I trade efficiently?
3.9
IlliquidLiquid
Evaluates
bid-ask spreads
, volume depth, and open interest for trade execution quality.Risk Checks3/8 checks passed
Tradeable Spread
≤5.0%Spread 15.0% — wide
Adequate OI
≥10,000OI 1,409,090 — deep
Active Volume
≥500Volume 7,680/day — active
Reasonable Cost
≤$0.50$0.75 to cross — expensive
Strike Coverage
≥5 strikes1 liquid strikes — limited options
Sector Relative≤40%
Sector spread percentile 84% — much wider than sector
Order Book Depth
≥100 contractsDepth 584.1 contracts (bid:310.1 ask:274.0) — deep
Execution Quality
<1.0%Avg slippage 5.96% — poor
Timing
Is now a good time?
7.5
RiskyFavorable
Considers earnings proximity,
time decay
, and event calendar for optimal entry timing.Risk Checks7/9 checks passed
Term Structure Clarity
|slope| ≥5%Slope -18.2% — contango
IV Percentile Clarity
<30 or >70IV percentile 43% — neutral
Event Detection
≥10pts kinkIV kink -2.5pts — no clear event
Theta/Vega Clarity
<0.5 or >2.0θ/ν ratio 57.39 — 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 -28% @ 64% consistency — moderate (bearish)
Smart Money Timing
≥40 composite scoreScore 56 (ITM 20% + inst 26%) — moderate institutional
Directional Strategy Fit
Option Buyers
Long Calls5.4
bullishIV fair, mixed flow
Long Puts5.0
bearishIV fair, mixed flow
Premium Sellers
Cash-Secured Put5.4
bullishIV fair, mixed flow
Covered Call5.0
bearishIV fair, mixed flow
For educational purposes only. Not investment advice.