ETNEaton Corporation, plc Ordinary Shares
Options Analysis Report•MISC INDUSTRIAL & COMMERCIAL MACHINERY & EQUIPMENT
Market Cap $157.6B|NYSE
● 2026-04-17$406.21
NEUTRAL
Analysis: 2026-04-16 EOD data
1Y +56.6%YTD +24.1%7D +0.8%
Options Vol
7,228
30D
Implied Move
±12.1%
IV Rank
67%
ETN Options Overview
Mixed signals. 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 Checks6/9 checks passed
IV Rank
≤35%IV Rank 63.9% — elevated vs history
IV/HV Ratio
<1.05xIV/HV 1.01x — IV ≤ HV
Sector Relative≤50%
Sector percentile 68% — above sector median
Term Structure
<1.1xFront/Back 1.06x — backwardation
Skew Normal
<1.25xPut/Call IV 1.16x — elevated
Absolute IV
<80%ATM IV 39.7% — normal range
Spread-Adjusted Value
<80%Effective IV 62.4% (ATM 39.7% + spread 11.3% + bias) — good value
Execution Efficiency
<3.0%Total drag 15.46% (spread 11.35% + slippage 4.11%) — high friction
Vega Efficiency
≥5.0Vega efficiency 111.76 (vega 126.850 / spread 11.35%) — efficient
Sentiment
Bullish or bearish?
4.8
BearishBullish
Analyzes
put/call ratios
, open interest skew
, and flow direction to determine market bias.Risk ChecksVery Bullish - Strong signal (Conviction: +38%, Raw: +44%)
Flow Direction
|net sentiment| ≥25%Conviction-weighted: +38% (strong bullish) — Raw: +44%
OI Skew Magnitude
≥15%|OI skew| 18.9% — put-heavy
Volume-OI Alignment
Same sign, |vol skew| ≥10%Vol skew -49.6%, OI skew -18.9% — aligned
Conviction Quality
≥2/3 conditions0-DTE 16%, far-OTM 15%, avg DTE 30
OI Momentum
|change| ≥3%OI change +0.0% (5d) — stable
Smart Money Flow
|weighted flow| ≥20%ITM: +28%, ATM: -8%, OTM: +54% — bullish (ITM/ATM divergent)
Sector Relative≤40% or ≥60%
Sector P/C percentile 89% — very bearish vs sector
Activity
Unusual activity?
5.8
QuietActive
Detects volume surges,
block trades
, and unusual options activity that may signal moves.Risk Checks4/9 checks passed
Volume Surge
≥1.5xVolume 1.4x avg — normal
Turnover Rate
≥15%Vol/OI 8.0% — 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 +14.1% (5d) — building
Sector Relative≥60%
Sector activity percentile 77% — active vs sector
Trade Quality
≥30%Large trade volume 65% — heavy institutional
Execution Urgency
≥60%Aggressive execution 26% — patient
Flow Conviction
≥30Conviction +38 (bullish) — moderate
Liquidity
Can I trade efficiently?
4.1
IlliquidLiquid
Evaluates
bid-ask spreads
, volume depth, and open interest for trade execution quality.Risk Checks2/8 checks passed
Tradeable Spread
≤5.0%Spread 11.3% — wide
Adequate OI
≥10,000OI 90,006 — deep
Active Volume
≥500Volume 7,228/day — active
Reasonable Cost
≤$0.50$0.57 to cross — expensive
Strike Coverage
≥5 strikes3 liquid strikes — limited options
Sector Relative≤40%
Sector spread percentile 69% — wider than sector
Order Book Depth
≥100 contractsDepth 48.5 contracts (bid:22.9 ask:25.6) — thin
Execution Quality
<1.0%Avg slippage 4.11% — 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 +6.4% — backwardation
IV Percentile Clarity
<30 or >70IV percentile 64% — neutral
Event Detection
≥10pts kinkIV kink 0.5pts — no clear event
Theta/Vega Clarity
<0.5 or >2.0θ/ν ratio 1175.63 — favors income trades
Expiration Distribution
≥3 expirations5 liquid expirations — flexible
Event Risk
≥60% (safe)acceptable: Earnings in 14d
Spread Momentum
<1.2 ratioSpread ratio 1.00x — stable
Flow Momentum
≥25% strength + ≥50% consistencyFlow +38% @ 69% consistency — moderate (bullish)
Smart Money Timing
≥40 composite scoreScore 95 (ITM 20% + inst 65%) — HIGH institutional
Directional Strategy Fit
Option Buyers
Long Calls5.1
bullishIV fair, mixed flow
Long Puts5.2
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.