Health Care

Amgen Inc (AMGN) options and signal

Figures as of 28 Sep 2026

AMGN is Amgen 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
Trade Card	Bear call spread, 18 Dec	25 Sep
IV rank	91 of 100	28 Sep
At the money IV	30.6%	28 Sep
Priced move to 30 Oct	9.5% down, 8.8% up	28 Sep
Call wall and put wall	420 and 460	28 Sep
Signal and the desk's view	Bearish signal, view bearish	25 Sep
Last close	418.13	28 Sep
Next report	3 Nov 2026	28 Sep

Trade Cards

On 25 Sep 2026 the Trade Card for AMGN was a bear call spread expiring 18 Dec 2026, paper trading.

Figure	Value
Signal	Bearish, over 45 trading days
Strategy	Bear call spread, credit
Legs	Sell the 460 call, Buy the 500 call
Expiry	18 Dec 2026, 84 days to expiry
Limit	A credit of at least $5.07
Probability of profit	73%, the option market's odds at expiry, from delta
Max loss	$3,493 per contract
Max profit	$507 per contract
Breakeven	465.07
IV rank at that expiry	91 of 100

Probability of profit is the option market's own odds from delta, not the model's.

Priced on the option chain at the close on 25 Sep 2026.

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

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Options Snapshot

AMGN's IV rank is 91 of 100 on 28 Sep 2026.

Figure	Value
IV rank	91 of 100
At the money IV	30.6%, near month, 32 days
Put/call ratio, open interest	0.93
Call open interest, strikes captured near the price	48,000 contracts
Put open interest, strikes captured near the price	44,500 contracts
Cost to trade at the money	Fair, 27.4% of the option's mid price

IV rank is where the at the money IV sits among AMGN'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, AMGN options priced a move of 9.5 percent down and 8.8 percent up by 30 Oct 2026.

Expiry	Days	Down	Up	Range
2 Oct 2026	4	3.8%	3.2%	402.13 to 431.53
9 Oct 2026	11	6.9%	4.9%	389.23 to 438.43
23 Oct 2026	25	7.3%	7.5%	387.53 to 449.63
30 Oct 2026	32	9.5%	8.8%	378.33 to 454.83
20 Nov 2026	53	12.2%	12.4%	366.93 to 470.13
18 Dec 2026	81	14.4%	14.6%	358.03 to 479.13
19 Mar 2027	172	20.1%	21.8%	333.93 to 509.43

The range is one standard deviation either side of the close of 418.13, 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, AMGN's call wall is the 420 strike and its put wall is the 460 strike.

Figure	Value
Call wall, most open call gamma	420
Put wall, most open put gamma	460
Net dollar gamma, calls minus puts	$16.61 million
Total dollar gamma, both sides	$97.91 million
Close	418.13

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 15 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, AMGN's at the money IV is 30.6 percent against 20 day realized volatility of 46.3 percent.

Figure	Value
At the money IV	30.6%
Realized volatility, 20 trading days	46.3%
Realized volatility, 60 trading days	34.3%
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	27.8% 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.

Open Volatility History in RingMaster The Volatility History guide

Volatility Weather

On 28 Sep 2026, AMGN's at the money IV runs from 30.5 percent at 4 days to 30.8 percent at 172 days.

Days to expiry	At the money IV
4	30.5%
11	30.3%
18	29.4%
25	29.8%
39	33.4%
53	32.0%
81	30.6%
172	30.8%

Near and far expiries price about the same volatility, a flat 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, AMGN's IV ten percent below the price sits 8.0 points above at the money IV.

Strike area	Implied volatility	Against at the money
10% below the price	38.6%	+8.0 points
At the money	30.6%	0.0 points
10% above the price	34.1%	+3.5 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, AMGN's surface spans 10 expiries out to 172 days, with IV from 27.4 to 54.9 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	145
Lowest IV among them	27.4%
Highest IV among them	54.9%

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, AMGN 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	30.5%	2,711	1,825
9 Oct 2026	11	30.3%	833	485
16 Oct 2026	18	29.4%	13,308	13,434
23 Oct 2026	25	29.8%	1,102	472
30 Oct 2026	32	30.6%	859	402
6 Nov 2026	39	33.4%	42	89
20 Nov 2026	53	32.0%	6,451	7,560
18 Dec 2026	81	30.6%	5,525	5,407
15 Jan 2027	109	30.1%	14,388	11,278
19 Mar 2027	172	30.8%	2,824	3,521

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, AMGN's largest open interest sits at the 400 strike, with 6,755 contracts across the captured expiries.

Strike	Call open interest	Put open interest	Total
400	4,360	2,395	6,755
380	1,972	4,052	6,024
350	720	5,040	5,760
460	1,474	4,134	5,608
410	2,735	2,189	4,924
360	1,190	3,519	4,709

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, AMGN's at the money IV moved from 29.4 percent to 30.6 percent.

Figure	25 Sep	28 Sep	Change
At the money IV	29.4%	30.6%	+1.2 points
Open interest, strikes captured near the price	91,312	92,516	+1,204
Put/call ratio, open interest	0.95	0.93	-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.

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Changed Hands

On 28 Sep 2026, 38,169 AMGN option contracts traded, 0.9 times its own recent average.

Figure	Value
Calls traded	7,298
Puts traded	30,871
Against its recent average	0.9 times
Busier than	12 of its last 20 trading days
Open interest, whole chain	118,048 contracts
Volume to open interest	0.32
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 AMGN'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	414.30	$48.31 million	440	388
21 Sep 2026	393.16	$2.26 million	400	380
28 Sep 2026	418.13	$16.61 million	420	460

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 AMGN was bearish, paper trading.

Figure	Value
Side	Bearish at 45 trading days, signal on
Level above the close	426.00, the swing high of 31 Aug 2026, a close past it runs against the view
Level below the close	415.76, the swing low of 23 Sep 2026
The chart	Sits against the view
Strategy family	Bear call spread (sell a call spread above 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 AMGN sat at the 1st percentile of the model's 45 trading day ranking, paper trading.

Timeframe	Percentile	Side
10 trading days	3 of 100	Bearish
20 trading days	2 of 100	Bearish
45 trading days	1 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.

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Timeframe Agreement

On 25 Sep 2026, 3 of 3 timeframes put AMGN 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.

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Signal History

On 25 Sep 2026 AMGN's bearish signal had held 11 trading days in a row, paper trading.

Trading day	Signal	45 day percentile
25 Sep 2026	Bearish	1 of 100
24 Sep 2026	Bearish	1 of 100
23 Sep 2026	Bearish	1 of 100
22 Sep 2026	Bearish	1 of 100
21 Sep 2026	Bearish	1 of 100
18 Sep 2026	Bearish	3 of 100
17 Sep 2026	Bearish	2 of 100
16 Sep 2026	Bearish	2 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

AMGN closed at 418.13 on 28 Sep 2026.

Figure	Value
Last close	418.13
Change over 5 trading days	+6.4%
Change over 21 trading days	-4.3%
Change over 63 trading days	+16.0%
Change over 252 trading days	+54.2%
52 week high	447.03
52 week low	269.77
20 day moving average	404.18
50 day moving average	405.73
200 day moving average	362.64
RSI, 14 days	58

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

AMGN reports next on 3 Nov 2026, a date worked out from past quarters.

Figure	Value
Next report	3 Nov 2026, after the close
Date	Worked out from past quarters
Move after the report of 4 Aug 2026	+4.6%
Move after the report of 30 Apr 2026	-4.8%
Move after the report of 3 Feb 2026	+8.2%
Move after the report of 4 Nov 2025	+7.8%

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

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Short Volume

On 25 Sep 2026, 66.2 percent of AMGN's reported volume at the covered venues was marked short.

Figure	Value
Short sale share, 25 Sep	66.2%
Five day average	62.1%
52 week median	58.0%
Short interest, share of shares outstanding	2.6% 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 36 Septembers on record, AMGN's average change was plus 0.3 percent, and it rose in 47.2 percent of them.

Month	Average change	Middle change	Share of years up	Years
September	+0.3%	-0.5%	47.2%	36
October	+1.4%	+2.7%	55.6%	36
November	+2.9%	+2.2%	66.7%	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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Headlines

The desk's news feeds carried 8 headlines naming AMGN in the 3 days to 28 Sep 2026.

Figure	Value
Headlines in the window	8
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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The Desk Analyst

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

The close of 414.61 is above all listed moving averages.

It is 14.5% above the 200-day simple moving average of 362.12.

Other averages include the 5-day at 406.03, the 20-day at 404.9, the 50-day at 404.7, and the 100-day at 375.23.

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

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Questions

What is AMGN's IV rank?: AMGN's IV rank is 91 of 100 on 28 Sep 2026.
What move are AMGN options pricing?: On 28 Sep 2026, AMGN options priced a move of 9.5 percent down and 8.8 percent up by 30 Oct 2026.
Where are AMGN's call wall and put wall?: On 28 Sep 2026, AMGN's call wall is the 420 strike and its put wall is the 460 strike.
What was the latest Trade Card for AMGN on the Free plan?: On 25 Sep 2026 the Trade Card for AMGN was a bear call spread expiring 18 Dec 2026, paper trading.
When does AMGN report earnings next?: AMGN reports next on 3 Nov 2026, a date worked out from past quarters.

More Health Care names

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