VSTVistra Corp.
Options Analysis Report•ELECTRIC SERVICES
Market Cap $55.3B|NYSE
● 2026-04-17$163.46
NEUTRAL
Analysis: 2026-04-16 EOD data
1Y +53.5%YTD -1.1%7D +5.6%
Options Vol
11,202
30D
Implied Move
±16.5%
IV Rank
44%
VST Options Overview
IV is elevated. Conditions favor premium sellers.
REWARDS
RISK ANALYSIS
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Value
Is IV priced right?
4.9
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 89.4% — elevated vs history
IV/HV Ratio
<1.05xIV/HV 0.91x — IV ≤ HV
Sector Relative≤50%
Sector percentile 97% — above sector median
Term Structure
<1.1xFront/Back 1.04x — flat
Skew Normal
<1.25xPut/Call IV 1.16x — elevated
Absolute IV
<80%ATM IV 55.5% — normal range
Spread-Adjusted Value
<80%Effective IV 71.0% (ATM 55.5% + spread 7.7% + bias) — fair
Execution Efficiency
<3.0%Total drag 14.23% (spread 7.73% + slippage 6.50%) — high friction
Vega Efficiency
≥5.0Vega efficiency 94.08 (vega 72.722 / spread 7.73%) — efficient
Sentiment
Bullish or bearish?
5.1
BearishBullish
Analyzes
put/call ratios
, open interest skew
, and flow direction to determine market bias.Risk ChecksBullish - Moderate signal (Conviction: +18%, Raw: +22%)
Flow Direction
|net sentiment| ≥25%Conviction-weighted: +18% (bullish) — Raw: +22%
OI Skew Magnitude
≥15%|OI skew| 14.0% — balanced
Volume-OI Alignment
Same sign, |vol skew| ≥10%Vol skew -0.9%, OI skew -14.0% — weak (same direction)
Conviction Quality
≥2/3 conditions0-DTE 30%, far-OTM 15%, avg DTE 30
OI Momentum
|change| ≥3%OI change +0.0% (5d) — stable
Smart Money Flow
|weighted flow| ≥20%ITM: -32%, ATM: +7%, OTM: +29% — bearish (ITM/ATM divergent)
Sector Relative≤40% or ≥60%
Sector P/C percentile 78% — very bearish vs sector
Activity
Unusual activity?
3.6
QuietActive
Detects volume surges,
block trades
, and unusual options activity that may signal moves.Risk Checks2/9 checks passed
Volume Surge
≥1.5xVolume 0.6x avg — normal
Turnover Rate
≥15%Vol/OI 3.3% — 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 +7.6% (5d) — building
Sector Relative≥60%
Sector activity percentile 62% — active vs sector
Trade Quality
≥30%Large trade volume 12% — mostly retail
Execution Urgency
≥60%Aggressive execution 36% — patient
Flow Conviction
≥30Conviction +18 (bullish) — mixed
Liquidity
Can I trade efficiently?
4.6
IlliquidLiquid
Evaluates
bid-ask spreads
, volume depth, and open interest for trade execution quality.Risk Checks4/8 checks passed
Tradeable Spread
≤5.0%Spread 7.7% — wide
Adequate OI
≥10,000OI 339,293 — deep
Active Volume
≥500Volume 11,202/day — active
Reasonable Cost
≤$0.50$0.39 to cross — cheap
Strike Coverage
≥5 strikes0 liquid strikes — limited options
Sector Relative≤40%
Sector spread percentile 97% — much wider than sector
Order Book Depth
≥100 contractsDepth 177.6 contracts (bid:77.6 ask:100.0) — adequate
Execution Quality
<1.0%Avg slippage 6.50% — 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 +3.6% — flat/unclear
IV Percentile Clarity
<30 or >70IV percentile 89% — seller opportunity
Event Detection
≥10pts kinkIV kink -0.8pts — no clear event
Theta/Vega Clarity
<0.5 or >2.0θ/ν ratio 1703.09 — favors income trades
Expiration Distribution
≥3 expirations5 liquid expirations — flexible
Event Risk
≥60% (safe)safe window: Earnings in 20d (low risk)
Spread Momentum
<1.2 ratioSpread ratio 1.00x — stable
Flow Momentum
≥25% strength + ≥50% consistencyFlow +18% @ 59% consistency — unclear
Smart Money Timing
≥40 composite scoreScore 42 (ITM 20% + inst 12%) — moderate institutional
Directional Strategy Fit
Option Buyers
Long Calls5.3
bullishIV fair, mixed flow
Long Puts5.2
bearishIV fair, mixed flow
Premium Sellers
Cash-Secured Put5.3
bullishIV fair, mixed flow
Covered Call5.3
bearishIV fair, mixed flow
For educational purposes only. Not investment advice.