CNPCenterPoint Energy, Inc.
Options Analysis Report•ELECTRIC SERVICES
Market Cap $28.1B|NYSE
● 2026-04-17$43.00
BULLISH
Analysis: 2026-04-16 EOD data
1Y +17.8%YTD +11.0%7D -0.9%
Options Vol
1,601
30D
Implied Move
±6.3%
IV Rank
9%
CNP Options Overview
IV is low with bullish flow. Conditions favor option buyers.
REWARDS
RISK ANALYSIS
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Value
Is IV priced right?
6.2
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 11.3% — cheap vs history
IV/HV Ratio
<1.05xIV/HV 1.50x — IV premium over HV
Sector Relative≤50%
Sector percentile 55% — above sector median
Term Structure
<1.1xFront/Back 1.14x — backwardation
Skew Normal
<1.25xPut/Call IV 1.16x — elevated
Absolute IV
<80%ATM IV 26.2% — normal range
Spread-Adjusted Value
<80%Effective IV 67.3% (ATM 26.2% + spread 20.5% + bias) — fair
Execution Efficiency
<3.0%Total drag 31.98% (spread 20.53% + slippage 11.45%) — high friction
Vega Efficiency
≥5.0Vega efficiency 4.84 (vega 9.940 / spread 20.53%) — spread drag
Sentiment
Bullish or bearish?
6.9
BearishBullish
Analyzes
put/call ratios
, open interest skew
, and flow direction to determine market bias.Risk ChecksBullish - Strong signal (Conviction: +12%, Raw: +46%)
Flow Direction
|net sentiment| ≥25%Conviction-weighted: +12% (bullish) — Raw: +46%
OI Skew Magnitude
≥15%|OI skew| 47.5% — call-heavy
Volume-OI Alignment
Same sign, |vol skew| ≥10%Vol skew +50.2%, OI skew +47.5% — aligned
Conviction Quality
≥2/3 conditions0-DTE 74%, far-OTM 15%, avg DTE 30
OI Momentum
|change| ≥3%OI change +0.0% (5d) — stable
Smart Money Flow
|weighted flow| ≥20%ITM: +7%, ATM: +46%, OTM: +75% — bullish (ITM/ATM aligned)
Sector Relative≤40% or ≥60%
Sector P/C percentile 28% — very bullish vs sector
Activity
Unusual activity?
5.7
QuietActive
Detects volume surges,
block trades
, and unusual options activity that may signal moves.Risk Checks3/9 checks passed
Volume Surge
≥1.5xVolume 3.4x avg — hot
Turnover Rate
≥15%Vol/OI 6.3% — normal turnover
Strike Concentration
≥60%Top 3 strikes = 50% — dispersed
Multi-Day Persistence
≥2 days2 day(s) elevated — sustained
OI Build
≥5%OI change +3.4% (5d) — building
Sector Relative≥60%
Sector activity percentile 84% — very active vs sector
Trade Quality
≥30%Large trade volume 0% — mostly retail
Execution Urgency
≥60%Aggressive execution 58% — patient
Flow Conviction
≥30Conviction +12 (bullish) — mixed
Liquidity
Can I trade efficiently?
2.9
IlliquidLiquid
Evaluates
bid-ask spreads
, volume depth, and open interest for trade execution quality.Risk Checks2/8 checks passed
Tradeable Spread
≤5.0%Spread 20.5% — wide
Adequate OI
≥10,000OI 25,445 — adequate
Active Volume
≥500Volume 1,601/day — adequate
Reasonable Cost
≤$0.50$1.03 to cross — expensive
Strike Coverage
≥5 strikes0 liquid strikes — limited options
Sector Relative≤40%
Sector spread percentile 59% — neutral vs sector
Order Book Depth
≥100 contractsDepth 96.6 contracts (bid:26.5 ask:70.1) — thin
Execution Quality
<1.0%Avg slippage 11.45% — poor
Timing
Is now a good time?
6.3
RiskyFavorable
Considers earnings proximity,
time decay
, and event calendar for optimal entry timing.Risk Checks5/9 checks passed
Term Structure Clarity
|slope| ≥5%Slope +14.0% — backwardation
IV Percentile Clarity
<30 or >70IV percentile 11% — buyer opportunity
Event Detection
≥10pts kinkIV kink 0.5pts — no clear event
Theta/Vega Clarity
<0.5 or >2.0θ/ν ratio 1014.23 — favors income trades
Expiration Distribution
≥3 expirations3 liquid expirations — flexible
Event Risk
≥60% (safe)caution advised: Earnings in 6d (elevated risk)
Spread Momentum
<1.2 ratioSpread ratio 1.00x — stable
Flow Momentum
≥25% strength + ≥50% consistencyFlow +12% @ 56% consistency — unclear
Smart Money Timing
≥40 composite scoreScore 30 (ITM 20% + inst 0%) — retail dominated
Directional Strategy Fit
Option Buyers
Long Calls6.6
bullishIV cheap, bullish flow
Long Puts4.6
bearishIV cheap, bullish flow
Premium Sellers
Cash-Secured Put5.1
bullishIV too cheap, bullish flow
Covered Call3.7
bearishIV too cheap, bullish flow
For educational purposes only. Not investment advice.