ETREntergy Corporation
Options Analysis Report•ELECTRIC SERVICES
Market Cap $52.9B|NYSE
● 2026-04-17$115.52
BULLISH
Analysis: 2026-04-16 EOD data
1Y +43.5%YTD +23.1%7D -0.8%
Options Vol
240
30D
Implied Move
±7.0%
IV Rank
22%
ETR Options Overview
IV is low. Conditions favor option buyers.
REWARDS
RISK ANALYSIS
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Value
Is IV priced right?
6.5
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 15.7% — cheap vs history
IV/HV Ratio
<1.05xIV/HV 0.89x — IV ≤ HV
Sector Relative≤50%
Sector percentile 69% — 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 27.5% — normal range
Spread-Adjusted Value
<80%Effective IV 73.9% (ATM 27.5% + spread 23.2% + bias) — fair
Execution Efficiency
<3.0%Total drag 35.54% (spread 23.22% + slippage 12.32%) — high friction
Vega Efficiency
≥5.0Vega efficiency 5.53 (vega 12.841 / spread 23.22%) — acceptable
Sentiment
Bullish or bearish?
5.9
BearishBullish
Analyzes
put/call ratios
, open interest skew
, and flow direction to determine market bias.Risk ChecksVery Bullish - Strong signal (Conviction: +44%, Raw: +43%)
Flow Direction
|net sentiment| ≥25%Conviction-weighted: +44% (strong bullish) — Raw: +43%
OI Skew Magnitude
≥15%|OI skew| 54.0% — call-heavy
Volume-OI Alignment
Same sign, |vol skew| ≥10%Vol skew -31.7%, OI skew +54.0% — divergent (opposite)
Conviction Quality
≥2/3 conditions0-DTE 29%, far-OTM 15%, avg DTE 30
OI Momentum
|change| ≥3%OI change +0.0% (5d) — stable
Smart Money Flow
|weighted flow| ≥20%ITM: -33%, ATM: -16%, OTM: +55% — strong bearish (ITM/ATM aligned)
Sector Relative≤40% or ≥60%
Sector P/C percentile 91% — very bearish vs sector
Activity
Unusual activity?
3.2
QuietActive
Detects volume surges,
block trades
, and unusual options activity that may signal moves.Risk Checks2/9 checks passed
Volume Surge
≥1.5xVolume 0.2x avg — normal
Turnover Rate
≥15%Vol/OI 1.1% — 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 +3.3% (5d) — building
Sector Relative≥60%
Sector activity percentile 9% — quiet vs sector
Trade Quality
≥30%Large trade volume 0% — mostly retail
Execution Urgency
≥60%Aggressive execution 63% — urgent
Flow Conviction
≥30Conviction +44 (bullish) — moderate
Liquidity
Can I trade efficiently?
2.7
IlliquidLiquid
Evaluates
bid-ask spreads
, volume depth, and open interest for trade execution quality.Risk Checks1/8 checks passed
Tradeable Spread
≤5.0%Spread 23.2% — wide
Adequate OI
≥10,000OI 22,409 — adequate
Active Volume
≥500Volume 240/day — thin
Reasonable Cost
≤$0.50$1.16 to cross — expensive
Strike Coverage
≥5 strikes0 liquid strikes — limited options
Sector Relative≤40%
Sector spread percentile 72% — wider than sector
Order Book Depth
≥100 contractsDepth 90.7 contracts (bid:46.7 ask:44.0) — thin
Execution Quality
<1.0%Avg slippage 12.32% — poor
Timing
Is now a good time?
7.3
RiskyFavorable
Considers earnings proximity,
time decay
, and event calendar for optimal entry timing.Risk Checks6/9 checks passed
Term Structure Clarity
|slope| ≥5%Slope +3.4% — flat/unclear
IV Percentile Clarity
<30 or >70IV percentile 16% — buyer opportunity
Event Detection
≥10pts kinkIV kink 5.3pts — no clear event
Theta/Vega Clarity
<0.5 or >2.0θ/ν ratio 236.92 — favors income trades
Expiration Distribution
≥3 expirations3 liquid expirations — flexible
Event Risk
≥60% (safe)acceptable: Earnings in 12d
Spread Momentum
<1.2 ratioSpread ratio 1.00x — stable
Flow Momentum
≥25% strength + ≥50% consistencyFlow +44% @ 72% consistency — STRONG directional (bullish)
Smart Money Timing
≥40 composite scoreScore 30 (ITM 20% + inst 0%) — retail dominated
Directional Strategy Fit
Option Buyers
Long Calls6.5
bullishIV cheap, mixed flow
Long Puts5.2
bearishIV cheap, mixed flow
Premium Sellers
Cash-Secured Put4.8
bullishIV too cheap, mixed flow
Covered Call4.1
bearishIV too cheap, mixed flow
For educational purposes only. Not investment advice.