PG&E Corporation (PCG) Volatility Skew
Implied volatility skew shows how IV varies across strike prices for a given expiration. Steeper skews indicate higher demand for downside protection relative to upside speculation.
PG&E Corporation (PCG) operates in the Utilities sector, specifically the Regulated Electric industry, with a market capitalization near $36.56B, listed on NYSE, employing roughly 28,410 people, carrying a beta of 0.29 to the broader market. PG&E Corp. Led by Patricia Kessler Poppe, public since 1972-06-01.
Snapshot as of May 15, 2026.
- Spot Price
- $16.19
- ATM IV
- 30.9%
- IV Skew 25Δ
- 0.050
- IV Rank
- 28.4%
- IV Percentile
- 40.9%
- Term Structure Slope
- 0.005
As of May 15, 2026, PG&E Corporation (PCG) at-the-money implied volatility is 30.9%. IV rank is 28.4% (where 0% is the 52-week low and 100% is the 52-week high). IV percentile is 40.9%. The 25-delta skew is +0.050: calls carry premium over puts, indicating upside speculation or squeeze risk. High IV rank typically favors premium-selling strategies; low IV rank favors premium-buying.
PCG Strategy Selection at Current Volatility Levels
For PG&E Corporation options at 30.9% ATM IV, low IV rank (28.4%) favors premium-buying or long-vol structures: long calls or puts, debit spreads, calendar spreads, long straddles. The risk: low-rank regimes can persist for months while time decay eats premium-buyers alive. The 25-delta skew tilts to calls, so call-credit spreads or covered-call writes harvest more premium than put-credit spreads of the same width. Pair the vol-rank read with the dealer-gamma view and the upcoming-events calendar to confirm the strategy fits both the structural regime and the path-dependent risk. The variance risk premium - the persistent gap between implied and subsequently realized vol - is positive in equity markets on average; high IV rank typically reflects a stretch where the premium is wider than usual.
Learn how volatility skew is reported and how to read the data →
PCG highest implied-volatility contracts
| Type | Strike | Expiration | Volume | OI | IV | Bid | Ask |
|---|---|---|---|---|---|---|---|
| CALL | $20.00 | Sep 18, 2026 | 324 | 282.6K | 36.7% | $0.36 | $0.40 |
| CALL | $23.00 | Sep 18, 2026 | 234 | 272.1K | 37.4% | $0.11 | $0.12 |
| CALL | $21.00 | Sep 18, 2026 | 6 | 98.7K | 36.8% | $0.24 | $0.27 |
| CALL | $27.00 | Sep 18, 2026 | 0 | 66.3K | 40.6% | $0.01 | $0.11 |
| CALL | $19.00 | Sep 18, 2026 | 25 | 65.2K | 36.6% | $0.51 | $0.64 |
| CALL | $18.00 | Jun 18, 2026 | 223 | 55.4K | 30.9% | $0.08 | $0.17 |
Top 6 contracts from the ORATS-sourced nightly scan; ranked by iv within the broader S&P 500/400/600 + ETF universe.
Frequently asked PCG volatility skew questions
- What is the current PCG ATM implied volatility?
- As of May 15, 2026, PG&E Corporation (PCG) at-the-money implied volatility is 30.9%. IV rank is 28.4% on a 0-100% scale anchored to the 1-year IV range. ATM IV is the volatility input that makes a Black-Scholes-equivalent model reproduce the listed at-the-money option prices.
- Is PCG IV high or low historically?
- IV is subdued relative to its 1-year history, conditions that typically favor premium-buying strategies (long calls, long puts, debit spreads, calendar spreads).
- What does PCG volatility skew tell options traders?
- Volatility skew is the pattern by which IV varies across strikes for a given expiration. PG&E Corporation shows upside-skewed pricing: 25-delta calls trade richer than 25-delta puts, often reflecting upside speculation or squeeze risk. Skew matters for risk-defined strategy selection: when downside puts are rich, put-credit spreads capture more premium; when upside calls are rich, call-credit spreads or covered-call writes harvest more.