EVRGEvergy, Inc.
Options Analysis Report•ELECTRIC & OTHER SERVICES COMBINED
Market Cap $19.0B|NASDAQ
● 2026-04-17$82.37
BULLISH
Analysis: 2026-04-16 EOD data
1Y +23.0%YTD +12.7%7D -1.4%
Options Vol
25
30D
Implied Move
±5.6%
IV Rank
25%
EVRG Options Overview
Mixed signals. No clear edge detected.
REWARDS
RISK ANALYSIS
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Value
Is IV priced right?
5.0
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 30.4% — cheap vs history
IV/HV Ratio
<1.05xIV/HV 2.00x — IV premium over HV
Sector Relative≤50%
Sector percentile 79% — above sector median
Term Structure
<1.1xFront/Back 0.99x — contango
Skew Normal
<1.25xPut/Call IV 1.16x — elevated
Absolute IV
<80%ATM IV 31.2% — normal range
Spread-Adjusted Value
<80%Effective IV 72.2% (ATM 31.2% + spread 20.5% + bias) — fair
Execution Efficiency
<3.0%Total drag 29.97% (spread 20.49% + slippage 9.48%) — high friction
Vega Efficiency
≥5.0Vega efficiency 10.29 (vega 21.081 / spread 20.49%) — efficient
Sentiment
Bullish or bearish?
6.4
BearishBullish
Analyzes
put/call ratios
, open interest skew
, and flow direction to determine market bias.Risk ChecksVery Bullish - Strong signal (Conviction: +38%, Raw: +38%)
Flow Direction
|net sentiment| ≥25%Conviction-weighted: +38% (strong bullish) — Raw: +38%
OI Skew Magnitude
≥15%|OI skew| 2.8% — balanced
Volume-OI Alignment
Same sign, |vol skew| ≥10%Vol skew +12.0%, OI skew +2.8% — aligned
Conviction Quality
≥2/3 conditions0-DTE 12%, 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: +0%, OTM: +38% — bullish (ITM/ATM divergent)
Sector Relative≤40% or ≥60%
Sector P/C percentile 59% — bearish vs sector
Activity
Unusual activity?
2.7
QuietActive
Detects volume surges,
block trades
, and unusual options activity that may signal moves.Risk Checks1/9 checks passed
Volume Surge
≥1.5xVolume 0.1x avg — normal
Turnover Rate
≥15%Vol/OI 0.4% — 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 +4.0% (5d) — building
Sector Relative≥60%
Sector activity percentile 0% — quiet vs sector
Trade Quality
≥30%Large trade volume 0% — mostly retail
Execution Urgency
≥60%Aggressive execution 8% — patient
Flow Conviction
≥30Conviction +38 (bullish) — moderate
Liquidity
Can I trade efficiently?
2.4
IlliquidLiquid
Evaluates
bid-ask spreads
, volume depth, and open interest for trade execution quality.Risk Checks0/8 checks passed
Tradeable Spread
≤5.0%Spread 20.5% — wide
Adequate OI
≥10,000OI 5,610 — thin
Active Volume
≥500Volume 25/day — thin
Reasonable Cost
≤$0.50$1.02 to cross — expensive
Strike Coverage
≥5 strikes0 liquid strikes — limited options
Sector Relative≤40%
Sector spread percentile 81% — much wider than sector
Order Book Depth
≥100 contractsDepth 85.1 contracts (bid:45.7 ask:39.4) — thin
Execution Quality
<1.0%Avg slippage 9.48% — poor
Timing
Is now a good time?
6.8
RiskyFavorable
Considers earnings proximity,
time decay
, and event calendar for optimal entry timing.Risk Checks5/9 checks passed
Term Structure Clarity
|slope| ≥5%Slope -1.0% — flat/unclear
IV Percentile Clarity
<30 or >70IV percentile 30% — neutral
Event Detection
≥10pts kinkIV kink -0.1pts — no clear event
Theta/Vega Clarity
<0.5 or >2.0θ/ν ratio 1484.56 — favors income trades
Expiration Distribution
≥3 expirations3 liquid expirations — flexible
Event Risk
≥60% (safe)safe window: Earnings in 27d (low risk)
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 30 (ITM 20% + inst 0%) — retail dominated
Directional Strategy Fit
Option Buyers
Long Calls6.1
bullishIV fair, bullish flow
Long Puts4.4
bearishIV fair, bullish flow
Premium Sellers
Cash-Secured Put5.2
bullishIV fair, bullish flow
Covered Call4.2
bearishIV fair, bullish flow
For educational purposes only. Not investment advice.