SRESempra
Options Analysis Report•GAS & OTHER SERVICES COMBINED
Market Cap $61.4B|NYSE
● 2026-04-17$94.02
BULLISH
Analysis: 2026-04-16 EOD data
1Y +33.4%YTD +4.8%7D -4.9%
Options Vol
555
30D
Implied Move
±7.7%
IV Rank
21%
SRE Options Overview
IV is low with bullish flow. Conditions favor option buyers.
REWARDS
RISK ANALYSIS
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Value
Is IV priced right?
5.9
ExpensiveCheap
Measures whether options are cheap, fair, or rich relative to historical and peer
IV
levels.Risk Checks5/9 checks passed
IV Rank
≤35%IV Rank 13.0% — cheap vs history
IV/HV Ratio
<1.05xIV/HV 1.22x — IV premium over HV
Sector Relative≤50%
Sector percentile 66% — above sector median
Term Structure
<1.1xFront/Back 1.09x — backwardation
Skew Normal
<1.25xPut/Call IV 1.16x — elevated
Absolute IV
<80%ATM IV 26.8% — normal range
Spread-Adjusted Value
<80%Effective IV 75.2% (ATM 26.8% + spread 24.2% + bias) — fair
Execution Efficiency
<3.0%Total drag 32.19% (spread 24.20% + slippage 7.99%) — high friction
Vega Efficiency
≥5.0Vega efficiency 0.75 (vega 1.811 / spread 24.20%) — spread drag
Sentiment
Bullish or bearish?
7.3
BearishBullish
Analyzes
put/call ratios
, open interest skew
, and flow direction to determine market bias.Risk ChecksBullish - Strong signal (Conviction: +22%, Raw: +10%)
Flow Direction
|net sentiment| ≥25%Conviction-weighted: +22% (bullish) — Raw: +10%
OI Skew Magnitude
≥15%|OI skew| 42.9% — call-heavy
Volume-OI Alignment
Same sign, |vol skew| ≥10%Vol skew +75.9%, OI skew +42.9% — aligned
Conviction Quality
≥2/3 conditions0-DTE 56%, far-OTM 15%, avg DTE 30
OI Momentum
|change| ≥3%OI change +0.0% (5d) — stable
Smart Money Flow
|weighted flow| ≥20%ITM: -63%, ATM: +62%, OTM: -4% — bearish (ITM/ATM divergent)
Sector Relative≤40% or ≥60%
Sector P/C percentile 3% — very bullish vs sector
Activity
Unusual activity?
4.0
QuietActive
Detects volume surges,
block trades
, and unusual options activity that may signal moves.Risk Checks2/9 checks passed
Volume Surge
≥1.5xVolume 0.5x avg — normal
Turnover Rate
≥15%Vol/OI 3.4% — 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 +6.1% (5d) — building
Sector Relative≥60%
Sector activity percentile 66% — active vs sector
Trade Quality
≥30%Large trade volume 0% — mostly retail
Execution Urgency
≥60%Aggressive execution 52% — patient
Flow Conviction
≥30Conviction +22 (bullish) — mixed
Liquidity
Can I trade efficiently?
2.8
IlliquidLiquid
Evaluates
bid-ask spreads
, volume depth, and open interest for trade execution quality.Risk Checks3/8 checks passed
Tradeable Spread
≤5.0%Spread 24.2% — wide
Adequate OI
≥10,000OI 16,541 — adequate
Active Volume
≥500Volume 555/day — adequate
Reasonable Cost
≤$0.50$1.21 to cross — expensive
Strike Coverage
≥5 strikes0 liquid strikes — limited options
Sector Relative≤40%
Sector spread percentile 69% — wider than sector
Order Book Depth
≥100 contractsDepth 165.39999999999998 contracts (bid:85.8 ask:79.6) — adequate
Execution Quality
<1.0%Avg slippage 7.99% — 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 +9.4% — backwardation
IV Percentile Clarity
<30 or >70IV percentile 13% — buyer opportunity
Event Detection
≥10pts kinkIV kink 2.6pts — no clear event
Theta/Vega Clarity
<0.5 or >2.0θ/ν ratio 5.34 — 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 +22% @ 61% consistency — unclear
Smart Money Timing
≥40 composite scoreScore 30 (ITM 20% + inst 0%) — retail dominated
Directional Strategy Fit
Option Buyers
Long Calls6.8
bullishIV fair, bullish flow
Long Puts4.6
bearishIV fair, bullish flow
Premium Sellers
Cash-Secured Put5.4
bullishIV fair, bullish flow
Covered Call3.8
bearishIV fair, bullish flow
For educational purposes only. Not investment advice.