Health Care

Align Technology Inc (ALGN) options and signal

Figures as of 28 Sep 2026

ALGN is Align Technology Inc, a Health Care 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	84 of 100	28 Sep
At the money IV	53.1%	28 Sep
Priced move to 30 Oct	15.0% down, 16.5% up	28 Sep
Call wall and put wall	165 and 130	28 Sep
Signal and the desk's view	No signal, view bullish	25 Sep
Last close	145.00	28 Sep
Next report	28 Oct 2026	28 Sep

Options Snapshot

ALGN's IV rank is 84 of 100 on 28 Sep 2026.

Figure	Value
IV rank	84 of 100
At the money IV	53.1%, near month, 32 days
Put/call ratio, open interest	0.64
Call open interest, strikes captured near the price	16,200 contracts
Put open interest, strikes captured near the price	10,400 contracts
Cost to trade at the money	Fair, 14.0% of the option's mid price

IV rank is where the at the money IV sits among ALGN'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, ALGN options priced a move of 15.0 percent down and 16.5 percent up by 30 Oct 2026.

Expiry	Days	Down	Up	Range
2 Oct 2026	4	6.2%	4.3%	135.96 to 151.26
9 Oct 2026	11	7.8%	7.2%	133.70 to 155.40
23 Oct 2026	25	13.5%	12.4%	125.40 to 163.00
30 Oct 2026	32	15.0%	16.5%	123.30 to 168.90
20 Nov 2026	53	19.4%	19.2%	116.80 to 172.90
18 Dec 2026	81	22.0%	24.0%	113.10 to 179.80
19 Mar 2027	172	32.8%	35.4%	97.40 to 196.40

The range is one standard deviation either side of the close of 145.00, 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, ALGN's call wall is the 165 strike and its put wall is the 130 strike.

Figure	Value
Call wall, most open call gamma	165
Put wall, most open put gamma	130
Net dollar gamma, calls minus puts	$749,533
Total dollar gamma, both sides	$5.82 million
Close	145.00

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, ALGN's at the money IV is 53.1 percent against 20 day realized volatility of 34.5 percent.

Figure	Value
At the money IV	53.1%
Realized volatility, 20 trading days	34.5%
Realized volatility, 60 trading days	35.9%
IV against its own weekly record	High, in the top fifth
Weekly readings on record	863, from 8 Jan 2010
Weeks the price moved more than the one week priced move	28.3% 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, ALGN's at the money IV runs from 58.7 percent at 4 days to 47.8 percent at 172 days.

Days to expiry	At the money IV
4	58.7%
11	48.6%
18	44.0%
25	44.7%
39	51.8%
53	51.1%
81	49.2%
172	47.8%

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 32 day expiry, ALGN's IV ten percent below the price sits 4.8 points above at the money IV.

Strike area	Implied volatility	Against at the money
10% below the price	57.9%	+4.8 points
At the money	53.1%	0.0 points
10% above the price	55.2%	+2.1 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, ALGN's surface spans 10 expiries out to 172 days, with IV from 41.2 to 66.6 percent near the price.

Figure	Value
Expiries captured	10
Nearest expiry	2 Oct 2026, 4 days
Farthest expiry	19 Mar 2027, 172 days
Points within 10% of the price, 7 days out or more	55
Lowest IV among them	41.2%
Highest IV among them	66.6%

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, ALGN has 10 captured expiries, from 2 Oct 2026 to 19 Mar 2027.

Expiry	Days	At the money IV	Call open interest	Put open interest
2 Oct 2026	4	58.7%	657	578
9 Oct 2026	11	48.6%	267	252
16 Oct 2026	18	44.0%	1,814	1,219
23 Oct 2026	25	44.7%	24	396
30 Oct 2026	32	53.1%	131	56
6 Nov 2026	39	51.8%	2	4
20 Nov 2026	53	51.1%	214	72
18 Dec 2026	81	49.2%	7,390	3,164
15 Jan 2027	109	50.4%	5,573	4,445
19 Mar 2027	172	47.8%	114	209

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, ALGN's largest open interest sits at the 165 strike, with 5,388 contracts across the captured expiries.

Strike	Call open interest	Put open interest	Total
165	5,204	184	5,388
150	1,744	688	2,432
180	1,175	631	1,806
220	1,776	21	1,797
130	37	1,479	1,516
170	557	534	1,091

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, ALGN's at the money IV moved from 55.5 percent to 53.1 percent.

Figure	25 Sep	28 Sep	Change
At the money IV	55.5%	53.1%	-2.3 points
Open interest, strikes captured near the price	25,891	26,581	+690
Put/call ratio, open interest	0.66	0.64	-0.02

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, 3,186 ALGN option contracts traded, 0.5 times its own recent average.

Figure	Value
Calls traded	1,875
Puts traded	1,311
Against its recent average	0.5 times
Busier than	1 of its last 20 trading days
Open interest, whole chain	31,669 contracts
Volume to open interest	0.10
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 ALGN'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	172.96	$361,272	180	170
21 Sep 2026	146.88	minus $1.12 million	150	130
28 Sep 2026	145.00	$749,533	165	130

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 ALGN was bullish, paper trading.

Figure	Value
Side	Bullish at 45 trading days, no signal
Level above the close	145.55, the swing high of 21 Sep 2026
Level below the close	143.33, the swing low of 28 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 ALGN sat at the 78th percentile of the model's 45 trading day ranking, paper trading.

Timeframe	Percentile	Side
10 trading days	82 of 100	Bullish
20 trading days	70 of 100	Neutral
45 trading days	78 of 100	Neutral

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 ALGN on the bullish side, paper trading.

Group	Timeframes	Side	On that side
Near	10 day, 20 day	Bullish	1 of 2
Long	45 day	Neutral	0 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 ALGN had carried no signal for 13 trading days, paper trading.

Trading day	Signal	45 day percentile
25 Sep 2026	None	78 of 100
24 Sep 2026	None	57 of 100
23 Sep 2026	None	51 of 100
22 Sep 2026	None	75 of 100
21 Sep 2026	None	84 of 100
18 Sep 2026	None	69 of 100
17 Sep 2026	None	84 of 100
16 Sep 2026	None	75 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, 32 of 120 Health Care names were bullish and 52 were bearish, paper trading.

Sector	Names	Bullish	Bearish	Neutral
Health Care	120	32	52	36

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

ALGN closed at 145.00 on 28 Sep 2026.

Figure	Value
Last close	145.00
Change over 5 trading days	-1.3%
Change over 21 trading days	-8.7%
Change over 63 trading days	-16.4%
Change over 252 trading days	+16.1%
52 week high	200.44
52 week low	123.02
20 day moving average	151.69
50 day moving average	162.46
200 day moving average	170.70
RSI, 14 days	37

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

ALGN reports next on 28 Oct 2026, a date confirmed by the company.

Figure	Value
Next report	28 Oct 2026, after the close
Date	Confirmed by the company
Move after the report of 29 Jul 2026	-3.7%
Move after the report of 29 Apr 2026	-1.3%
Move after the report of 4 Feb 2026	+8.9%
Move after the report of 29 Oct 2025	+4.9%

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

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Short Volume

On 25 Sep 2026, 45.8 percent of ALGN's reported volume at the covered venues was marked short.

Figure	Value
Short sale share, 25 Sep	45.8%
Five day average	52.9%
52 week median	58.0%
Short interest, share of shares outstanding	5.5% at the 15 Sep 2026 settlement
Days to cover	4.9

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 25 Septembers on record, ALGN's average change was plus 0.3 percent, and it rose in 52.0 percent of them.

Month	Average change	Middle change	Share of years up	Years
September	+0.3%	+0.3%	52.0%	25
October	+3.0%	+1.8%	52.0%	25
November	+7.4%	+3.9%	76.0%	25

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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Headlines

The desk's news feeds carried 1 headline naming ALGN in the 3 days to 28 Sep 2026.

Figure	Value
Headlines in the window	1
Latest	28 Sep 2026

The titles are in the Headlines window, with the time each was published.

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

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Questions

What is ALGN's IV rank?: ALGN's IV rank is 84 of 100 on 28 Sep 2026.
What move are ALGN options pricing?: On 28 Sep 2026, ALGN options priced a move of 15.0 percent down and 16.5 percent up by 30 Oct 2026.
Where are ALGN's call wall and put wall?: On 28 Sep 2026, ALGN's call wall is the 165 strike and its put wall is the 130 strike.
What was the desk's latest view of ALGN on the Free plan?: On 25 Sep 2026 the desk's view of ALGN was bullish, paper trading.
When does ALGN report earnings next?: ALGN reports next on 28 Oct 2026, a date confirmed by the company.

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