Utilities

American Electric Power (AEP) options and signal

Figures as of 28 Sep 2026

AEP is American Electric Power, an Utilities name the model ranks every trading day. The options figures are from the close on 28 Sep 2026. The model's figures are from 25 Sep 2026, one trading day behind the latest, as the Free plan shows them. Every model figure is paper trading.

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At a glance

Figure	Value	Date
IV rank	87 of 100	28 Sep
At the money IV	23.4%	28 Sep
Priced move to 16 Oct	6.3% down, 4.7% up	28 Sep
Call wall and put wall	130 and 115	28 Sep
Signal and the desk's view	No signal, view bullish	25 Sep
Last close	118.20	28 Sep
Next report	29 Oct 2026	28 Sep

Options Snapshot

AEP's IV rank is 87 of 100 on 28 Sep 2026.

Figure	Value
IV rank	87 of 100
At the money IV	23.4%, near month, 18 days
Put/call ratio, open interest	0.57
Call open interest, strikes captured near the price	24,900 contracts
Put open interest, strikes captured near the price	14,200 contracts
Cost to trade at the money	Fair, 30.5% of the option's mid price

IV rank is where the at the money IV sits among AEP's own weekly readings, 0 the lowest and 100 the highest.

From the option chain at the close on 28 Sep 2026. Current on every plan.

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Priced Range

On 28 Sep 2026, AEP options priced a move of 6.3 percent down and 4.7 percent up by 16 Oct 2026.

Expiry	Days	Down	Up	Range
16 Oct 2026	18	6.3%	4.7%	110.73 to 123.72
20 Nov 2026	53	9.6%	8.3%	106.90 to 128.05
18 Dec 2026	81	11.0%	10.1%	105.20 to 130.10
15 Jan 2027	109	11.8%	13.0%	104.30 to 133.60
19 Feb 2027	144	14.5%	13.9%	101.10 to 134.60
19 Mar 2027	172	15.0%	14.6%	100.50 to 135.40

The range is one standard deviation either side of the close of 118.20, as the option prices imply it.

A priced move restates option prices at the close and says nothing certain about where the price goes.

From the option chain at the close on 28 Sep 2026. Current on every plan.

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Gamma Map

On 28 Sep 2026, AEP's call wall is the 130 strike and its put wall is the 115 strike.

Figure	Value
Call wall, most open call gamma	130
Put wall, most open put gamma	115
Net dollar gamma, calls minus puts	minus $204,136
Total dollar gamma, both sides	$13.13 million
Close	118.20

Dollar gamma is stated for a one percent move in the price.

Net is calls minus puts under the standard convention, not a record of who holds the contracts.

Net gamma changes sign at 3 strikes, so no single flip strike is named.

From the option chain at the close on 28 Sep 2026. Current on every plan.

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Volatility History

On 28 Sep 2026, AEP's at the money IV is 23.4 percent against 20 day realized volatility of 12.1 percent.

Figure	Value
At the money IV	23.4%
Realized volatility, 20 trading days	12.1%
Realized volatility, 60 trading days	17.0%
IV against its own weekly record	High, in the top fifth
Weekly readings on record	865, from 8 Jan 2010
Weeks the price moved more than the one week priced move	28.2% of 252 weeks

Realized volatility is worked out from the daily closes the desk holds, not from the option chain.

From the option chain at the close on 28 Sep 2026. Current on every plan.

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Volatility Weather

On 28 Sep 2026, AEP's at the money IV runs from 23.4 percent at 18 days to 21.8 percent at 172 days.

Days to expiry	At the money IV
18	23.4%
53	25.9%
81	22.5%
109	22.9%
144	22.8%
172	21.8%

Near expiries price more volatility than far ones, an inverted term structure.

From the option chain at the close on 28 Sep 2026. Current on every plan.

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Volatility Smile

On 28 Sep 2026, at the 53 day expiry, AEP's IV ten percent below the price sits 38.4 points above at the money IV.

Strike area	Implied volatility	Against at the money
10% below the price	64.3%	+38.4 points
At the money	25.9%	0.0 points
10% above the price	28.5%	+2.6 points

From the option chain at the close on 28 Sep 2026. Current on every plan.

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Volatility Surface

On 28 Sep 2026, AEP's surface spans 6 expiries out to 172 days, with IV from 17.6 to 43.0 percent near the price.

Figure	Value
Expiries captured	6
Nearest expiry	16 Oct 2026, 18 days
Farthest expiry	19 Mar 2027, 172 days
Points within 10% of the price, 7 days out or more	30
Lowest IV among them	17.6%
Highest IV among them	43.0%

From the option chain at the close on 28 Sep 2026. Current on every plan.

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Expiry Ladder

On 28 Sep 2026, AEP has 6 captured expiries, from 16 Oct 2026 to 19 Mar 2027.

Expiry	Days	At the money IV	Call open interest	Put open interest
16 Oct 2026	18	23.4%	3,661	6,025
20 Nov 2026	53	25.9%	5,840	1,222
18 Dec 2026	81	22.5%	3,190	1,523
15 Jan 2027	109	22.9%	10,803	4,776
19 Feb 2027	144	22.8%	155	109
19 Mar 2027	172	21.8%	1,272	501

Open interest is summed over the strikes captured near the price on each expiry.

From the option chain at the close on 28 Sep 2026. Current on every plan.

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Strike Table

On 28 Sep 2026, AEP's largest open interest sits at the 130 strike, with 6,536 contracts across the captured expiries.

Strike	Call open interest	Put open interest	Total
130	5,906	630	6,536
125	3,376	2,809	6,185
115	424	4,572	4,996
120	1,944	2,265	4,209
140	3,664	158	3,822
135	2,865	290	3,155

From the option chain at the close on 28 Sep 2026. Current on every plan.

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Since Yesterday

From 25 Sep 2026 to 28 Sep 2026, AEP's at the money IV moved from 20.7 percent to 23.4 percent.

Figure	25 Sep	28 Sep	Change
At the money IV	20.7%	23.4%	+2.8 points
Open interest, strikes captured near the price	39,017	39,077	+60
Put/call ratio, open interest	0.57	0.57	+0.00

Open interest changes cannot identify buyers or sellers.

From the option chain at the close on 28 Sep 2026. Current on every plan.

Open Since Yesterday in RingMaster The Since Yesterday guide

Changed Hands

On 28 Sep 2026, 1,804 AEP option contracts traded, 0.7 times its own recent average.

Figure	Value
Calls traded	1,347
Puts traded	457
Against its recent average	0.7 times
Busier than	1 of its last 20 trading days
Open interest, whole chain	41,704 contracts
Volume to open interest	0.04
Unusual volume flag	No

Traded volume and open interest are shown side by side and never combined. Open interest changes cannot identify buyers or sellers.

From the option chain at the close on 28 Sep 2026. Current on every plan.

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Positioning Replay

The replay holds 33 trading days of AEP's option positioning, from 11 Aug 2026 to 28 Sep 2026.

Date	Close	Net dollar gamma	Top call strike	Top put strike
11 Aug 2026	123.58	minus $2.82 million	140	125
21 Sep 2026	120.03	minus $729,390	130	115
28 Sep 2026	118.20	minus $204,136	130	115

Each frame restates one nightly capture. Net is calls minus puts, a convention, not who holds the contracts.

From the option chain at the close on 28 Sep 2026. Current on every plan.

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Read-out

On 25 Sep 2026 the desk's view of AEP was bullish, paper trading.

Figure	Value
Side	Bullish at 45 trading days, no signal
Level above the close	121.50, the swing high of 2 Sep 2026
Level below the close	116.71, the swing low of 25 Sep 2026, a close past it runs against the view
The chart	Sits against the view
Strategy family	Cash-secured put (sell a put below the price)
Price target	None. The desk has no price model.

The levels are prices the shares turned at on the chart, with the date of each.

Paper trading. The model's figures from 25 Sep 2026, one trading day behind, as the Free plan shows them.

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Rank by Timeframe

On 25 Sep 2026 AEP sat at the 91st percentile of the model's 45 trading day ranking, paper trading.

Timeframe	Percentile	Side
10 trading days	10 of 100	Bearish
20 trading days	73 of 100	Neutral
45 trading days	91 of 100	Bullish

100 is the top of the ranking. A name in the middle three fifths is neutral.

Paper trading. The model's figures from 25 Sep 2026, one trading day behind, as the Free plan shows them.

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Timeframe Agreement

On 25 Sep 2026, 1 of 3 timeframes put AEP on the bullish side, paper trading.

Group	Timeframes	Side	On that side
Near	10 day, 20 day	Bearish	1 of 2
Long	45 day	Bullish	1 of 1

The near timeframes and the long ones were on opposite sides, and the desk states both.

Paper trading. The model's figures from 25 Sep 2026, one trading day behind, as the Free plan shows them.

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Signal History

On 25 Sep 2026 AEP had carried no signal for at least 18 trading days, paper trading.

Trading day	Signal	45 day percentile
25 Sep 2026	None	91 of 100
24 Sep 2026	None	89 of 100
23 Sep 2026	None	89 of 100
22 Sep 2026	None	89 of 100
21 Sep 2026	None	49 of 100
18 Sep 2026	None	87 of 100
17 Sep 2026	None	79 of 100
16 Sep 2026	None	93 of 100

Paper trading. The model's figures from 25 Sep 2026, one trading day behind, as the Free plan shows them.

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Sector Split

On 25 Sep 2026, 20 of 35 Utilities names were bullish and 11 were bearish, paper trading.

Sector	Names	Bullish	Bearish	Neutral
Utilities	35	20	11	4

Paper trading. The model's figures from 25 Sep 2026, one trading day behind, as the Free plan shows them.

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Price Chart

AEP closed at 118.20 on 28 Sep 2026.

Figure	Value
Last close	118.20
Change over 5 trading days	-1.5%
Change over 21 trading days	-3.7%
Change over 63 trading days	-14.3%
Change over 252 trading days	+9.6%
52 week high	140.58
52 week low	108.15
20 day moving average	121.65
50 day moving average	124.90
200 day moving average	126.95
RSI, 14 days	33

Worked out from the desk's own daily bars, adjusted for share splits.

From the daily bars through 28 Sep 2026. Current on every plan.

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Earnings Radar

AEP reports next on 29 Oct 2026, a date worked out from past quarters.

Figure	Value
Next report	29 Oct 2026, before the open
Date	Worked out from past quarters
Move after the report of 30 Jul 2026	-1.2%
Move after the report of 5 May 2026	+1.8%
Move after the report of 12 Feb 2026	+3.4%
Move after the report of 29 Oct 2025	+6.1%

Earnings calendar as of 28 Sep 2026. Current on every plan.

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Public Filings

The filings the desk holds carry 2 recent trades in AEP shares.

Filed	Who	Trade	Size
5 Sep 2026	. David J. Taylor, member of Congress	Bought	$1,001 to $15,000
5 Sep 2026	. David J. Taylor, member of Congress	Bought	$1,001 to $15,000

Every filing is reproduced as filed, and each one reaches the public days or weeks after the trade.

Filings as of 28 Sep 2026. Current on every plan.

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Short Volume

On 25 Sep 2026, 54.9 percent of AEP's reported volume at the covered venues was marked short.

Figure	Value
Short sale share, 25 Sep	54.9%
Five day average	53.4%
52 week median	50.3%
Short interest, share of shares outstanding	4.7% at the 15 Sep 2026 settlement
Days to cover	8.4

Short sale volume counts trades marked short at the covered venues, mostly off exchange. It is not the same as short interest.

Short volume as of 25 Sep 2026. Current on every plan.

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Seasonality

In the 36 Septembers on record, AEP's average change was minus 0.2 percent, and it rose in 47.2 percent of them.

Month	Average change	Middle change	Share of years up	Years
September	-0.2%	-0.1%	47.2%	36
October	+1.9%	+2.2%	72.2%	36
November	+0.0%	-0.6%	47.2%	36

Each figure is a month end to month end change in past years. A past month says nothing certain about the next one.

Monthly history through 28 Sep 2026. Current on every plan.

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Questions

What is AEP's IV rank?: AEP's IV rank is 87 of 100 on 28 Sep 2026.
What move are AEP options pricing?: On 28 Sep 2026, AEP options priced a move of 6.3 percent down and 4.7 percent up by 16 Oct 2026.
Where are AEP's call wall and put wall?: On 28 Sep 2026, AEP's call wall is the 130 strike and its put wall is the 115 strike.
What was the desk's latest view of AEP on the Free plan?: On 25 Sep 2026 the desk's view of AEP was bullish, paper trading.
When does AEP report earnings next?: AEP reports next on 29 Oct 2026, a date worked out from past quarters.

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