CEGConstellation Energy Corporation Common Stock
Options Analysis Report•ELECTRIC SERVICES
Market Cap $107.3B|NASDAQ
● 2026-04-17$296.21
NEUTRAL
Analysis: 2026-04-16 EOD data
1Y +53.8%YTD -19.1%7D +3.4%
Options Vol
7,810
30D
Implied Move
±14.7%
IV Rank
44%
CEG Options Overview
IV is elevated. Conditions favor premium sellers.
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 Checks6/9 checks passed
IV Rank
≤35%IV Rank 85.8% — elevated vs history
IV/HV Ratio
<1.05xIV/HV 0.93x — IV ≤ HV
Sector Relative≤50%
Sector percentile 90% — 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 53.2% — normal range
Spread-Adjusted Value
<80%Effective IV 76.1% (ATM 53.2% + spread 11.4% + bias) — fair
Execution Efficiency
<3.0%Total drag 19.06% (spread 11.43% + slippage 7.63%) — high friction
Vega Efficiency
≥5.0Vega efficiency 78.33 (vega 89.533 / spread 11.43%) — efficient
Sentiment
Bullish or bearish?
4.9
BearishBullish
Analyzes
put/call ratios
, open interest skew
, and flow direction to determine market bias.Risk ChecksNeutral - Weak signal (Conviction: +8%, Raw: +1%)
Flow Direction
|net sentiment| ≥25%Conviction-weighted: +8% (neutral) — Raw: +1%
OI Skew Magnitude
≥15%|OI skew| 10.3% — balanced
Volume-OI Alignment
Same sign, |vol skew| ≥10%Vol skew +1.1%, OI skew -10.3% — divergent (opposite)
Conviction Quality
≥2/3 conditions0-DTE 45%, far-OTM 15%, avg DTE 30
OI Momentum
|change| ≥3%OI change +0.0% (5d) — stable
Smart Money Flow
|weighted flow| ≥20%ITM: -20%, ATM: +0%, OTM: +2% — bearish (ITM/ATM divergent)
Sector Relative≤40% or ≥60%
Sector P/C percentile 72% — very bearish vs sector
Activity
Unusual activity?
3.8
QuietActive
Detects volume surges,
block trades
, and unusual options activity that may signal moves.Risk Checks2/9 checks passed
Volume Surge
≥1.5xVolume 0.8x avg — normal
Turnover Rate
≥15%Vol/OI 3.7% — 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 +5.1% (5d) — building
Sector Relative≥60%
Sector activity percentile 69% — active vs sector
Trade Quality
≥30%Large trade volume 19% — mixed
Execution Urgency
≥60%Aggressive execution 30% — patient
Flow Conviction
≥30Conviction +8 (bullish) — mixed
Liquidity
Can I trade efficiently?
4.0
IlliquidLiquid
Evaluates
bid-ask spreads
, volume depth, and open interest for trade execution quality.Risk Checks3/8 checks passed
Tradeable Spread
≤5.0%Spread 11.4% — wide
Adequate OI
≥10,000OI 213,158 — deep
Active Volume
≥500Volume 7,810/day — active
Reasonable Cost
≤$0.50$0.57 to cross — expensive
Strike Coverage
≥5 strikes1 liquid strikes — limited options
Sector Relative≤40%
Sector spread percentile 91% — much wider than sector
Order Book Depth
≥100 contractsDepth 124.4 contracts (bid:59.4 ask:65.0) — adequate
Execution Quality
<1.0%Avg slippage 7.63% — poor
Timing
Is now a good time?
7.0
RiskyFavorable
Considers earnings proximity,
time decay
, and event calendar for optimal entry timing.Risk Checks6/9 checks passed
Term Structure Clarity
|slope| ≥5%Slope +2.6% — flat/unclear
IV Percentile Clarity
<30 or >70IV percentile 86% — seller opportunity
Event Detection
≥10pts kinkIV kink 0.6pts — no clear event
Theta/Vega Clarity
<0.5 or >2.0θ/ν ratio 771.17 — favors income trades
Expiration Distribution
≥3 expirations5 liquid expirations — flexible
Event Risk
≥60% (safe)safe window: Earnings in 24d (low risk)
Spread Momentum
<1.2 ratioSpread ratio 1.00x — stable
Flow Momentum
≥25% strength + ≥50% consistencyFlow +8% @ 54% consistency — unclear
Smart Money Timing
≥40 composite scoreScore 49 (ITM 20% + inst 19%) — moderate institutional
Directional Strategy Fit
Option Buyers
Long Calls5.1
bullishIV fair, mixed flow
Long Puts5.1
bearishIV fair, mixed flow
Premium Sellers
Cash-Secured Put5.1
bullishIV fair, mixed flow
Covered Call5.2
bearishIV fair, mixed flow
For educational purposes only. Not investment advice.