XELXcel Energy, Inc.
Options Analysis Report•ELECTRIC & OTHER SERVICES COMBINED
Market Cap $50.6B|NASDAQ
● 2026-04-17$81.08
BULLISH
Analysis: 2026-04-16 EOD data
1Y +17.6%YTD +8.6%7D -1.6%
Options Vol
173
30D
Implied Move
±6.4%
IV Rank
25%
XEL Options Overview
IV is low with bullish flow. Conditions favor option buyers.
REWARDS
RISK ANALYSIS
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Value
Is IV priced right?
6.9
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 8.9% — cheap vs history
IV/HV Ratio
<1.05xIV/HV 1.11x — IV premium over HV
Sector Relative≤50%
Sector percentile 52% — above sector median
Term Structure
<1.1xFront/Back 1.05x — backwardation
Skew Normal
<1.25xPut/Call IV 1.16x — elevated
Absolute IV
<80%ATM IV 25.6% — normal range
Spread-Adjusted Value
<80%Effective IV 88.9% (ATM 25.6% + spread 31.7% + bias) — expensive
Execution Efficiency
<3.0%Total drag 42.37% (spread 31.66% + slippage 10.71%) — high friction
Vega Efficiency
≥5.0Vega efficiency 5.79 (vega 18.322 / spread 31.66%) — acceptable
Sentiment
Bullish or bearish?
8.1
BearishBullish
Analyzes
put/call ratios
, open interest skew
, and flow direction to determine market bias.Risk ChecksVery Bullish - Strong signal (Conviction: +46%, Raw: +36%)
Flow Direction
|net sentiment| ≥25%Conviction-weighted: +46% (strong bullish) — Raw: +36%
OI Skew Magnitude
≥15%|OI skew| 42.2% — call-heavy
Volume-OI Alignment
Same sign, |vol skew| ≥10%Vol skew +37.6%, OI skew +42.2% — aligned
Conviction Quality
≥2/3 conditions0-DTE 22%, far-OTM 15%, avg DTE 30
OI Momentum
|change| ≥3%OI change +0.0% (5d) — stable
Smart Money Flow
|weighted flow| ≥20%ITM: +50%, ATM: +70%, OTM: -19% — strong bullish (ITM/ATM aligned)
Sector Relative≤40% or ≥60%
Sector P/C percentile 38% — bullish vs sector
Activity
Unusual activity?
2.8
QuietActive
Detects volume surges,
block trades
, and unusual options activity that may signal moves.Risk Checks1/9 checks passed
Volume Surge
≥1.5xVolume 0.6x avg — normal
Turnover Rate
≥15%Vol/OI 1.4% — 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 +1.4% (5d) — stable
Sector Relative≥60%
Sector activity percentile 22% — below sector avg
Trade Quality
≥30%Large trade volume 0% — mostly retail
Execution Urgency
≥60%Aggressive execution 38% — patient
Flow Conviction
≥30Conviction +46 (bullish) — moderate
Liquidity
Can I trade efficiently?
2.7
IlliquidLiquid
Evaluates
bid-ask spreads
, volume depth, and open interest for trade execution quality.Risk Checks2/8 checks passed
Tradeable Spread
≤5.0%Spread 31.7% — wide
Adequate OI
≥10,000OI 12,137 — adequate
Active Volume
≥500Volume 173/day — thin
Reasonable Cost
≤$0.50$1.58 to cross — expensive
Strike Coverage
≥5 strikes0 liquid strikes — limited options
Sector Relative≤40%
Sector spread percentile 56% — neutral vs sector
Order Book Depth
≥100 contractsDepth 214.4 contracts (bid:135.3 ask:79.1) — adequate
Execution Quality
<1.0%Avg slippage 10.71% — poor
Timing
Is now a good time?
7.2
RiskyFavorable
Considers earnings proximity,
time decay
, and event calendar for optimal entry timing.Risk Checks7/9 checks passed
Term Structure Clarity
|slope| ≥5%Slope +5.2% — backwardation
IV Percentile Clarity
<30 or >70IV percentile 9% — buyer opportunity
Event Detection
≥10pts kinkIV kink 1.1pts — no clear event
Theta/Vega Clarity
<0.5 or >2.0θ/ν ratio 985.03 — favors income trades
Expiration Distribution
≥3 expirations3 liquid expirations — flexible
Event Risk
≥60% (safe)acceptable: Earnings in 13d
Spread Momentum
<1.2 ratioSpread ratio 1.00x — stable
Flow Momentum
≥25% strength + ≥50% consistencyFlow +46% @ 73% consistency — STRONG directional (bullish)
Smart Money Timing
≥40 composite scoreScore 30 (ITM 20% + inst 0%) — retail dominated
Directional Strategy Fit
Option Buyers
Long Calls7.5
bullishIV cheap, bullish flow
Long Puts4.6
bearishIV cheap, bullish flow
Premium Sellers
Cash-Secured Put5.4
bullishIV too cheap, bullish flow
Covered Call3.2
bearishIV too cheap, bullish flow
For educational purposes only. Not investment advice.