STZConstellation Brands, Inc.
Options Analysis Report•BEVERAGES
Market Cap $28.1B|NYSE
● 2026-04-17$162.28
NEUTRAL
Analysis: 2026-04-16 EOD data
1Y -13.3%YTD +15.0%7D -2.3%
Options Vol
2,374
30D
Implied Move
±7.5%
IV Rank
3%
STZ Options Overview
IV is low with bullish flow. Conditions favor option buyers.
REWARDS
RISK ANALYSIS
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Value
Is IV priced right?
9.2
ExpensiveCheap
Measures whether options are cheap, fair, or rich relative to historical and peer
IV
levels.Risk Checks8/9 checks passed
IV Rank
≤35%IV Rank 21.7% — cheap vs history
IV/HV Ratio
<1.05xIV/HV 0.84x — IV ≤ HV
Sector Relative≤50%
Sector percentile 30% — below sector median
Term Structure
<1.1xFront/Back 0.87x — contango
Skew Normal
<1.25xPut/Call IV 1.16x — elevated
Absolute IV
<80%ATM IV 29.0% — normal range
Spread-Adjusted Value
<80%Effective IV 57.9% (ATM 29.0% + spread 14.4% + bias) — good value
Execution Efficiency
<3.0%Total drag 18.08% (spread 14.44% + slippage 3.64%) — high friction
Vega Efficiency
≥5.0Vega efficiency 56.74 (vega 81.937 / spread 14.44%) — efficient
Sentiment
Bullish or bearish?
6.3
BearishBullish
Analyzes
put/call ratios
, open interest skew
, and flow direction to determine market bias.Risk ChecksNeutral - Weak signal (Conviction: +1%, Raw: -1%)
Flow Direction
|net sentiment| ≥25%Conviction-weighted: +1% (neutral) — Raw: -1%
OI Skew Magnitude
≥15%|OI skew| 5.6% — balanced
Volume-OI Alignment
Same sign, |vol skew| ≥10%Vol skew +40.9%, OI skew +5.6% — 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: +11%, ATM: -5%, OTM: -1% — neutral (ITM/ATM divergent)
Sector Relative≤40% or ≥60%
Sector P/C percentile 31% — bullish vs sector
Activity
Unusual activity?
2.3
QuietActive
Detects volume surges,
block trades
, and unusual options activity that may signal moves.Risk Checks0/9 checks passed
Volume Surge
≥1.5xVolume 0.3x avg — normal
Turnover Rate
≥15%Vol/OI 2.2% — 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 +3.4% (5d) — building
Sector Relative≥60%
Sector activity percentile 20% — quiet vs sector
Trade Quality
≥30%Large trade volume 0% — mostly retail
Execution Urgency
≥60%Aggressive execution 31% — patient
Flow Conviction
≥30Conviction +1 (bullish) — mixed
Liquidity
Can I trade efficiently?
3.8
IlliquidLiquid
Evaluates
bid-ask spreads
, volume depth, and open interest for trade execution quality.Risk Checks3/8 checks passed
Tradeable Spread
≤5.0%Spread 14.4% — wide
Adequate OI
≥10,000OI 106,670 — deep
Active Volume
≥500Volume 2,374/day — adequate
Reasonable Cost
≤$0.50$0.72 to cross — expensive
Strike Coverage
≥5 strikes0 liquid strikes — limited options
Sector Relative≤40%
Sector spread percentile 34% — tighter than sector
Order Book Depth
≥100 contractsDepth 90.7 contracts (bid:49.5 ask:41.2) — thin
Execution Quality
<1.0%Avg slippage 3.64% — poor
Timing
Is now a good time?
6.8
RiskyFavorable
Considers earnings proximity,
time decay
, and event calendar for optimal entry timing.Risk Checks6/9 checks passed
Term Structure Clarity
|slope| ≥5%Slope -12.9% — contango
IV Percentile Clarity
<30 or >70IV percentile 22% — buyer opportunity
Event Detection
≥10pts kinkIV kink -1.3pts — no clear event
Theta/Vega Clarity
<0.5 or >2.0θ/ν ratio 3344.35 — favors income trades
Expiration Distribution
≥3 expirations5 liquid expirations — flexible
Event Risk
≥60% (safe)safe window: No events detected
Spread Momentum
<1.2 ratioSpread ratio 1.00x — stable
Flow Momentum
≥25% strength + ≥50% consistencyFlow +1% @ 50% consistency — unclear
Smart Money Timing
≥40 composite scoreScore 30 (ITM 20% + inst 0%) — retail dominated
Directional Strategy Fit
Option Buyers
Long Calls7.0
bullishIV cheap, bullish flow
Long Puts6.1
bearishIV cheap, bullish flow
Premium Sellers
Cash-Secured Put4.2
bullishIV too cheap, bullish flow
Covered Call3.3
bearishIV too cheap, bullish flow
For educational purposes only. Not investment advice.