EDConsolidated Edison, Inc.
Options Analysis Report•ELECTRIC & OTHER SERVICES COMBINED
Market Cap $40.6B|NYSE
● 2026-04-17$110.15
BULLISH
Analysis: 2026-04-16 EOD data
1Y -0.7%YTD +10.2%7D -3.0%
Options Vol
637
30D
Implied Move
±5.9%
IV Rank
10%
ED Options Overview
IV is low with bullish flow. Conditions favor option buyers.
REWARDS
RISK ANALYSIS
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Value
Is IV priced right?
7.9
ExpensiveCheap
Measures whether options are cheap, fair, or rich relative to historical and peer
IV
levels.Risk Checks7/9 checks passed
IV Rank
≤35%IV Rank 1.7% — cheap vs history
IV/HV Ratio
<1.05xIV/HV 1.25x — IV premium over HV
Sector Relative≤50%
Sector percentile 17% — below sector median
Term Structure
<1.1xFront/Back 1.06x — backwardation
Skew Normal
<1.25xPut/Call IV 1.16x — elevated
Absolute IV
<80%ATM IV 21.0% — normal range
Spread-Adjusted Value
<80%Effective IV 52.5% (ATM 21.0% + spread 15.7% + bias) — good value
Execution Efficiency
<3.0%Total drag 22.22% (spread 15.74% + slippage 6.48%) — high friction
Vega Efficiency
≥5.0Vega efficiency 20.87 (vega 32.849 / spread 15.74%) — efficient
Sentiment
Bullish or bearish?
6.2
BearishBullish
Analyzes
put/call ratios
, open interest skew
, and flow direction to determine market bias.Risk ChecksNeutral - Strong signal (Conviction: -9%, Raw: +3%)
Flow Direction
|net sentiment| ≥25%Conviction-weighted: -9% (neutral) — Raw: +3%
OI Skew Magnitude
≥15%|OI skew| 38.9% — call-heavy
Volume-OI Alignment
Same sign, |vol skew| ≥10%Vol skew +75.2%, OI skew +38.9% — aligned
Conviction Quality
≥2/3 conditions0-DTE 22%, far-OTM 15%, avg DTE 30
OI Momentum
|change| ≥3%OI change +0.0% (5d) — stable
Smart Money Flow
|weighted flow| ≥20%ITM: -50%, ATM: +42%, OTM: -15% — bearish (ITM/ATM divergent)
Sector Relative≤40% or ≥60%
Sector P/C percentile 9% — very bullish vs sector
Activity
Unusual activity?
4.2
QuietActive
Detects volume surges,
block trades
, and unusual options activity that may signal moves.Risk Checks1/9 checks passed
Volume Surge
≥1.5xVolume 1.3x avg — normal
Turnover Rate
≥15%Vol/OI 4.0% — 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 +1.2% (5d) — stable
Sector Relative≥60%
Sector activity percentile 75% — active vs sector
Trade Quality
≥30%Large trade volume 16% — mixed
Execution Urgency
≥60%Aggressive execution 55% — patient
Flow Conviction
≥30Conviction -9 (bearish) — mixed
Liquidity
Can I trade efficiently?
3.4
IlliquidLiquid
Evaluates
bid-ask spreads
, volume depth, and open interest for trade execution quality.Risk Checks3/8 checks passed
Tradeable Spread
≤5.0%Spread 15.7% — wide
Adequate OI
≥10,000OI 15,758 — adequate
Active Volume
≥500Volume 637/day — adequate
Reasonable Cost
≤$0.50$0.79 to cross — expensive
Strike Coverage
≥5 strikes0 liquid strikes — limited options
Sector Relative≤40%
Sector spread percentile 25% — tighter than sector
Order Book Depth
≥100 contractsDepth 62.5 contracts (bid:29.4 ask:33.1) — thin
Execution Quality
<1.0%Avg slippage 6.48% — poor
Timing
Is now a good time?
7.2
RiskyFavorable
Considers earnings proximity,
time decay
, and event calendar for optimal entry timing.Risk Checks7/9 checks passed
Term Structure Clarity
|slope| ≥5%Slope +6.2% — backwardation
IV Percentile Clarity
<30 or >70IV percentile 2% — buyer opportunity
Event Detection
≥10pts kinkIV kink 0.2pts — no clear event
Theta/Vega Clarity
<0.5 or >2.0θ/ν ratio 1747.27 — favors income trades
Expiration Distribution
≥3 expirations3 liquid expirations — flexible
Event Risk
≥60% (safe)safe window: Earnings in 20d (low risk)
Spread Momentum
<1.2 ratioSpread ratio 1.00x — stable
Flow Momentum
≥25% strength + ≥50% consistencyFlow -9% @ 54% consistency — unclear
Smart Money Timing
≥40 composite scoreScore 46 (ITM 20% + inst 16%) — moderate institutional
Directional Strategy Fit
Option Buyers
Long Calls7.1
bullishIV cheap, bullish flow
Long Puts5.7
bearishIV cheap, bullish flow
Premium Sellers
Cash-Secured Put4.5
bullishIV too cheap, bullish flow
Covered Call3.7
bearishIV too cheap, bullish flow
For educational purposes only. Not investment advice.