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OKEOneok, Inc.

Options Analysis Report•NATURAL GAS TRANSMISSION & DISTRIBUTION
Market Cap $59.7B|NYSE
● 2026-08-31$94.76
BULLISH
Analysis: 2026-08-28 EOD data
1Y +27.0%YTD +27.5%7D +1.9%
1,812
30D
±7.4%
43%

OKE Options Overview

bullish flow. No clear edge detected.

REWARDS

RISK ANALYSIS

5.6VALUESENTIMENTACTIVITYLIQUIDITYTIMING

Snowflake Analysis

Favorable conditions for option buyers

Learn
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OKE Gamma Walls

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Value

Is IV priced right?

7.7
ExpensiveCheap

Measures whether options are cheap, fair, or rich relative to historical and peer

levels.

Risk Checks7/9 checks passed
≤35%

IV Rank 41.9% — elevated vs history

<1.05x

IV/HV 0.96x — IV ≤ HV

Sector Relative≤50%

Sector percentile 19% — below sector median

<1.1x

Front/Back 0.92x — contango

<1.25x

Put/Call IV 1.16x — elevated

<80%

ATM IV 27.8% — normal range

<80%

Effective IV 44.6% (ATM 27.8% + spread 8.4% + bias) — excellent value

<3.0%

Total drag 11.32% (spread 8.40% + slippage 2.92%) — high friction

≥5.0

Vega efficiency 10.79 (vega 9.065 / spread 8.40%) — efficient

Sentiment

Bullish or bearish?

6.2
BearishBullish

Analyzes

,
, and flow direction to determine market bias.

Risk ChecksNeutral - Moderate signal (Conviction: -10%, Raw: -14%)
|net sentiment| ≥25%

Conviction-weighted: -10% (neutral) — Raw: -14%

≥15%

|OI skew| 48.5% — call-heavy

Same sign, |vol skew| ≥10%

Vol skew +57.7%, OI skew +48.5% — aligned

≥2/3 conditions

0-DTE 0%, far-OTM 15%, avg DTE 30

|change| ≥3%

OI change +0.0% (5d) — stable

|weighted flow| ≥20%

ITM: -30%, ATM: +43%, OTM: -33% — neutral (ITM/ATM divergent)

Sector Relative≤40% or ≥60%

Sector P/C percentile 32% — bullish vs sector

Activity

Unusual activity?

2.6
QuietActive

Detects volume surges,

, and unusual options activity that may signal moves.

Risk Checks0/8 checks passed
≥1.5x

Volume 0.6x avg — normal

≥15%

Vol/OI 1.7% — normal turnover

≥2 days

1 day(s) elevated — may be one-day event

≥5%

OI change +4.8% (5d) — building

Sector Relative≥60%

Sector activity percentile 27% — below sector avg

≥30%

Large trade volume 13% — mostly retail

≥60%

Aggressive execution 40% — patient

≥30

Conviction -10 (bearish) — mixed

Liquidity

Can I trade efficiently?

4.6
IlliquidLiquid

Evaluates

, volume depth, and open interest for trade execution quality.

Risk Checks5/8 checks passed
≤5.0%

Spread 8.4% — wide

≥10,000

OI 105,659 — deep

≥500

Volume 1,812/day — adequate

≤$0.50

$0.42 to cross — cheap

≥5 strikes

0 liquid strikes — limited options

Sector Relative≤40%

Sector spread percentile 23% — tighter than sector

≥100 contracts

Depth 126.5 contracts (bid:50.2 ask:76.3) — adequate

<1.0%

Avg slippage 2.92% — poor

Timing

Is now a good time?

6.9
RiskyFavorable

Considers earnings proximity,

, and event calendar for optimal entry timing.

Risk Checks6/9 checks passed
|slope| ≥5%

Slope -8.2% — contango

<30 or >70

IV percentile 42% — neutral

≥10pts kink

IV kink -1.5pts — no clear event

<0.5 or >2.0

θ/ν ratio 151.59 — favors income trades

≥3 expirations

3 liquid expirations — flexible

≥60% (safe)

safe window: No events detected

<1.2 ratio

Spread ratio 1.00x — stable

≥25% strength + ≥50% consistency

Flow -10% @ 55% consistency — unclear

≥40 composite score

Score 43 (ITM 20% + inst 13%) — moderate institutional

Directional Strategy Fit

Option Buyers
Long Calls6.6
bullishIV cheap, bullish flow
Long Puts5.8
bearishIV cheap, bullish flow
Premium Sellers
Cash-Secured Put4.8
bullishIV too cheap, bullish flow
Covered Call4.0
bearishIV too cheap, bullish flow

For educational purposes only. Not investment advice.

The Options Desk tracks the move options price into every US earnings report the week of Aug 31, next to how much each stock has actually moved on its past prints — plus the SPY, QQQ and IWM expected ranges and the gamma walls that box them in.

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