The Southern Company (SO)
Overview · Option chain · Volatility · Expected-move history · Earnings
Cboe delayed options data · as of 09:42 UTC · Figures derived from the full chain (954 contracts, 15 expirations) · IV own-history percentile appears after 60 recorded days (28 so far)
Expected move · Nov 20, 2026 (32 days)
Methodology →Read from option prices: the at-the-money straddle costs this much, so the market is pricing a move of about that size in either direction by this date. It is an estimate of movement, not a prediction of direction.
Options are pricing a move of about ±5.5% (range 86.20–96.16) by Nov 20, 2026. ATM straddle: 4.97 @ strike 90 · ATM IV: 20.8%.
Probability distribution
Model & assumptions →The curve shows where a lognormal model, fed with current implied volatility, puts the range of outcomes at this expiration. Shaded: the expected-move band.
| Level | vs price | P(above)Model-estimated chance the stock finishes above a level at expiration, derived from current IV under a lognormal model with stated assumptions — an estimate, not a prediction. | P(below) |
|---|---|---|---|
| 82.06 | -10% | 95.3% | 4.7% |
| 86.62 | -5% | 78.8% | 21.2% |
| 91.18 | +0% | 48.8% | 51.2% |
| 95.74 | +5% | 20.6% | 79.4% |
| 100.30 | +10% | 5.8% | 94.2% |
Model-estimated probabilities of finishing above/below each level at expiration: estimates under stated assumptions, not predictions.
Probability explorer
Drag the slider to any level and see the model-estimated chance the stock finishes above or below it at the selected expiration.
Horizon: Nov 20, 2026 · lognormal model with zero drift: an estimate, not a prediction. Assumptions
Expirations
Open the chain →| Expires | DTEDays to expiration, in calendar days. | Implied move | ATM IV | Open int. |
|---|---|---|---|---|
| Oct 23, 2026 | 4 | ±2.1% | 19.0% | 8,095 |
| Oct 30, 2026 | 11 | ±2.9% | 18.6% | 7,137 |
| Nov 06, 2026 | 18 | ±4.3% | 22.2% | 1,356 |
| Nov 13, 2026 | 25 | ±5.2% | 23.4% | 397 |
| Nov 20, 2026 | 32 | ±5.5% | 20.8% | 21.3K |
| Nov 27, 2026 | 39 | ±6.2% | 22.3% | 135 |
| Dec 18, 2026 | 60 | ±6.7% | 19.9% | 13.8K |
| Jan 15, 2027 | 88 | ±7.6% | 18.9% | 24.1K |
| Feb 19, 2027 | 123 | ±9.2% | 19.3% | 2,114 |
| Mar 19, 2027 | 151 | ±10.0% | 19.4% | 12.7K |
Open interest by strike · Nov 20
Where option positions are concentrated. Teal bars are calls, red bars are puts; the dashed line is the current price.
Largest open-interest concentrations (all expirations ≤ 60 days): 90 C · 7,226100 C · 3,90788 C · 3,04992.5 C · 2,82885 P · 2,452
IV term structure
Volatility page →At-the-money implied volatility for each expiration. A hump around a date often marks a scheduled event the market is pricing.
When does open interest expire?
Implied vs realized volatility
HV from our stored daily closes (annualized); IV30 interpolated from the chain. Method
Price, last 60 sessions
Daily closes; Financial Modeling Prep.
Track record
Full history →Of 93 recorded snapshot-versus-outcome comparisons so far, the close landed inside the expected range 51.6% of the time.
Past earnings reactions
Avg |reaction| 2.0% · median 1.6% (20 reports). Two-session close-to-close window; definition
About The Southern Company
The Southern Company operates as an energy utility, primarily involved in the production, transmission, and distribution of electricity. Its operations are segmented into Gas Distribution Operations, Gas Pipeline Investments, Wholesale Gas Services, and Gas Marketing Services. The company also undertakes the development, construction, acquisition, ownership, and management of various power generation assets, including renewable energy ventures, and supplies electricity to the wholesale market. Complementing its power business, it distributes natural gas in Illinois, Georgia, Virginia, and Tennessee, while also offering gas marketing services, wholesale gas services, and managing gas pipeline investments. Its extensive portfolio of generating assets includes 30 hydroelectric, 24 fossil fuel, three nuclear, 13 combined cycle/cogeneration, 45 solar, 15 wind, one fuel cell, and four battery storage facilities. In terms of natural gas infrastructure, the company builds, operates, and maintains 76,289 miles of pipelines and 14 storage facilities with a total capacity of 157 billion cubic feet, delivering natural gas to residential, commercial, and industrial clients. The Southern Company
Utilities · Regulated Electric · NYSE · Profile: Financial Modeling Prep
SO news
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WSJ · Oct 18, 05:30 UTC ↗The Fed is between a rock and a hard place, Jason Katz says
UBS managing director Jason Katz and Empower chief investment strategist Marta Norton preview the Federal Reserve's reading of inflation on…
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On Jan. 1, 2000, the world got a reprieve from a much-hyped technological Armageddon when it turned out the Y2K crisis wasn't a crisis…
New York Post · Oct 17, 20:21 UTC ↗Related securities · Utilities
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