Utilities

AES Corp (AES) options and signal

Figures as of 28 Sep 2026

AES is AES Corp, 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	1 of 100	28 Sep
At the money IV	7.5%	28 Sep
Priced move to 16 Oct	1.7% down, 1.7% up	28 Sep
Call wall and put wall	Both 15	28 Sep
Signal and the desk's view	No signal, view bearish	25 Sep
Last close	14.87	28 Sep
Next report	4 Nov 2026	28 Sep

Options Snapshot

AES's IV rank is 1 of 100 on 28 Sep 2026.

Figure	Value
IV rank	1 of 100
At the money IV	7.5%, near month, 18 days
Put/call ratio, open interest	1.32
Call open interest, strikes captured near the price	38,100 contracts
Put open interest, strikes captured near the price	50,400 contracts
Cost to trade at the money	Fair, 23.4% of the option's mid price

IV rank is where the at the money IV sits among AES'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.

Open Options Snapshot in RingMaster The Options Snapshot guide

Priced Range

On 28 Sep 2026, AES options priced a move of 1.7 percent down and 1.7 percent up by 16 Oct 2026.

Expiry	Days	Down	Up	Range
16 Oct 2026	18	1.7%	1.7%	14.62 to 15.12
20 Nov 2026	53	6.5%	4.1%	13.91 to 15.49
15 Jan 2027	109	9.1%	4.8%	13.52 to 15.58
19 Feb 2027	144	10.2%	2.3%	13.36 to 15.21

The range is one standard deviation either side of the close of 14.87, as the option prices imply it.

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

Thin quote at that expiry; its neighbours' reading stands in.

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, AES's call wall and put wall are both at the 15 strike.

Figure	Value
Call wall, most open call gamma	15
Put wall, most open put gamma	15
Flip strike, where net gamma changes sign	14.18
Net dollar gamma, calls minus puts	$4.6 million
Total dollar gamma, both sides	$12.24 million
Close	14.87

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.

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

Open Gamma Map in RingMaster The Gamma Map guide

Volatility History

On 28 Sep 2026, AES's at the money IV is 7.5 percent against 20 day realized volatility of 2.2 percent.

Figure	Value
At the money IV	7.5%
Realized volatility, 20 trading days	2.2%
Realized volatility, 60 trading days	3.8%
IV against its own weekly record	Low, in the bottom fifth
Weekly readings on record	813, from 8 Jan 2010
Weeks the price moved more than the one week priced move	32.7% of 251 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.

Open Volatility History in RingMaster The Volatility History guide

Volatility Weather

On 28 Sep 2026, AES's at the money IV runs from 7.5 percent at 18 days to 3.6 percent at 144 days.

Days to expiry	At the money IV
18	7.5%
53	10.9%
109	2.7%
144	3.6%

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.

Open Volatility Weather in RingMaster The Volatility Weather guide

Volatility Smile

On 28 Sep 2026, at the 53 day expiry, AES's IV ten percent below the price sits 28.6 points above at the money IV.

Strike area	Implied volatility	Against at the money
10% below the price	39.5%	+28.6 points
At the money	10.9%	0.0 points
10% above the price	20.1%	+9.2 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, AES's surface spans 4 expiries out to 144 days, with IV from 4.9 to 26.5 percent near the price.

Figure	Value
Expiries captured	4
Nearest expiry	16 Oct 2026, 18 days
Farthest expiry	19 Feb 2027, 144 days
Points within 10% of the price, 7 days out or more	12
Lowest IV among them	4.9%
Highest IV among them	26.5%

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

Open Volatility Surface in RingMaster The Volatility Surface guide

Expiry Ladder

On 28 Sep 2026, AES has 4 captured expiries, from 16 Oct 2026 to 19 Feb 2027.

Expiry	Days	At the money IV	Call open interest	Put open interest
16 Oct 2026	18	7.5%	1,756	1,340
20 Nov 2026	53	10.9%	7,565	27,273
15 Jan 2027	109	2.7%	27,493	16,354
19 Feb 2027	144	3.6%	1,252	5,435

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.

Open Expiry Ladder in RingMaster The Expiry Ladder guide

Strike Table

On 28 Sep 2026, AES's largest open interest sits at the 15 strike, with 35,597 contracts across the captured expiries.

Strike	Call open interest	Put open interest	Total
15	22,699	12,898	35,597
14	210	24,180	24,390
13	3,996	13,038	17,034
17	8,186	237	8,423
16	2,877	18	2,895
12	98	31	129

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

Open Strike Table in RingMaster The Strike Table guide

Since Yesterday

From 25 Sep 2026 to 28 Sep 2026, AES's at the money IV moved from 7.0 percent to 7.5 percent.

Figure	25 Sep	28 Sep	Change
At the money IV	7.0%	7.5%	+0.5 points
Open interest, strikes captured near the price	88,218	88,468	+250
Put/call ratio, open interest	1.33	1.32	-0.01

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, 1,520 AES option contracts traded, 0.9 times its own recent average.

Figure	Value
Calls traded	974
Puts traded	546
Against its recent average	0.9 times
Busier than	2 of its last 20 trading days
Open interest, whole chain	148,659 contracts
Volume to open interest	0.01
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 31 trading days of AES's option positioning, from 12 Aug 2026 to 28 Sep 2026.

Date	Close	Net dollar gamma	Top call strike	Top put strike
12 Aug 2026	14.71	$1.23 million	15	15
21 Sep 2026	14.83	$2.65 million	15	15
28 Sep 2026	14.87	$4.6 million	15	15

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.

Open Positioning Replay in RingMaster The Positioning Replay guide

Read-out

On 25 Sep 2026 the desk's view of AES was bearish, paper trading.

Figure	Value
Side	Bearish at 45 trading days, no signal
Level above the close	14.88, the swing high of 17 Sep 2026, a close past it runs against the view
Level below the close	14.85, the swing low of 10 Sep 2026
The chart	Sits against the view
Strategy family	Bear put spread (buy a put spread)
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.

Open Read-out in RingMaster The Read-out guide

Rank by Timeframe

On 25 Sep 2026 AES sat at the 0th percentile of the model's 45 trading day ranking, paper trading.

Timeframe	Percentile	Side
10 trading days	0 of 100	Bearish
20 trading days	0 of 100	Bearish
45 trading days	0 of 100	Bearish

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.

Open Rank by Timeframe in RingMaster The Rank by Timeframe guide

Timeframe Agreement

On 25 Sep 2026, 3 of 3 timeframes put AES on the bearish side, paper trading.

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

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

Open Timeframe Agreement in RingMaster The Timeframe Agreement guide

Signal History

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

Trading day	Signal	45 day percentile
25 Sep 2026	None	0 of 100
24 Sep 2026	None	0 of 100
23 Sep 2026	None	0 of 100
22 Sep 2026	None	0 of 100
21 Sep 2026	None	0 of 100
18 Sep 2026	None	1 of 100
17 Sep 2026	None	0 of 100
16 Sep 2026	None	1 of 100

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

Open Signal History in RingMaster The Signal History guide

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.

Open Sector Split in RingMaster The Sector Split guide

Price Chart

AES closed at 14.87 on 28 Sep 2026.

Figure	Value
Last close	14.87
Change over 5 trading days	+0.3%
Change over 21 trading days	+0.8%
Change over 63 trading days	+1.6%
Change over 252 trading days	+14.1%
52 week high	17.65
52 week low	12.97
20 day moving average	14.81
50 day moving average	14.78
200 day moving average	14.67
RSI, 14 days	64

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

AES reports next on 4 Nov 2026, a date worked out from past quarters.

Figure	Value
Next report	4 Nov 2026, after the close
Date	Worked out from past quarters
Move after the report of 4 Aug 2026	+0.1%
Move after the report of 5 May 2026	-0.2%
Move after the report of 2 Mar 2026	-0.2%
Move after the report of 4 Nov 2025	+5.8%

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

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Company Events

AES filed 2 current reports in the 14 days to 28 Sep 2026, the latest on 17 Sep 2026.

Filed	Report	What it covers
17 Sep 2026	Current report	Other Events
16 Sep 2026	Current report	Departure of Directors or Certain Officers; Election of Directors; Appointment of Certain Officers; Compensatory Arrangements of Certain Officers

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

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Short Volume

On 25 Sep 2026, 44.7 percent of AES's reported volume at the covered venues was marked short.

Figure	Value
Short sale share, 25 Sep	44.7%
Five day average	32.6%
52 week median	29.3%

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 35 Septembers on record, AES's average change was plus 0.2 percent, and it rose in 57.1 percent of them.

Month	Average change	Middle change	Share of years up	Years
September	+0.2%	+2.7%	57.1%	35
October	+0.7%	+4.1%	57.1%	35
November	+2.5%	+2.1%	57.1%	35

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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The Desk Analyst

The Free plan shows the first paragraph of The Desk Analyst's column on AES for 25 Sep 2026, quoted below.

The close is 14.87.

This is 1.4% above the 200-day simple moving average of 14.66.

Other moving averages are the SMA5 at 14.84, SMA20 at 14.81, SMA50 at 14.78, and SMA100 at 14.7.

Paper trading. Column for 25 Sep 2026, general commentary published the same way to every reader.

Open The Desk Analyst in RingMaster The The Desk Analyst guide

Questions

What is AES's IV rank?: AES's IV rank is 1 of 100 on 28 Sep 2026.
What move are AES options pricing?: On 28 Sep 2026, AES options priced a move of 1.7 percent down and 1.7 percent up by 16 Oct 2026.
Where are AES's call wall and put wall?: On 28 Sep 2026, AES's call wall and put wall are both at the 15 strike.
What was the desk's latest view of AES on the Free plan?: On 25 Sep 2026 the desk's view of AES was bearish, paper trading.
When does AES report earnings next?: AES reports next on 4 Nov 2026, a date worked out from past quarters.

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