Materials

Amrize Ltd (AMRZ) options and signal

Figures as of 28 Sep 2026

AMRZ is Amrize Ltd, a Materials 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
Priced move to 16 Oct	10.0% down, 8.6% up	28 Sep
Call wall and put wall	42.5 and 39.56	28 Sep
Signal and the desk's view	No signal, view bullish	25 Sep
Last close	38.05	28 Sep
Next report	27 Oct 2026	28 Sep

Options Snapshot

AMRZ's at the money implied volatility is 41.9 percent on 28 Sep 2026.

Figure	Value
IV rank	Not stated, 37 weeks of record
At the money IV	41.9%, near month, 18 days
Put/call ratio, open interest	1.66
Call open interest, strikes captured near the price	10,000 contracts
Put open interest, strikes captured near the price	16,600 contracts
Cost to trade at the money	Wide, 72.9% of the option's mid price

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, AMRZ options priced a move of 10.0 percent down and 8.6 percent up by 16 Oct 2026.

Expiry	Days	Down	Up	Range
16 Oct 2026	18	10.0%	8.6%	34.23 to 41.34
20 Nov 2026	53	15.9%	16.6%	31.99 to 44.38
15 Jan 2027	109	25.4%	26.5%	28.39 to 48.15
16 Apr 2027	200	29.2%	32.3%	26.95 to 50.35

The range is one standard deviation either side of the close of 38.05, 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, AMRZ's call wall is the 42.5 strike and its put wall is the 39.56 strike.

Figure	Value
Call wall, most open call gamma	42.5
Put wall, most open put gamma	39.56
Flip strike, where net gamma changes sign	49.95
Net dollar gamma, calls minus puts	minus $837,939
Total dollar gamma, both sides	$1.42 million
Close	38.05

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.

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Volatility History

On 28 Sep 2026, AMRZ's at the money IV is 41.9 percent against 20 day realized volatility of 31.1 percent.

Figure	Value
At the money IV	41.9%
Realized volatility, 20 trading days	31.1%
Realized volatility, 60 trading days	37.6%
Weekly readings on record	37, from 25 Jul 2025

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, AMRZ's at the money IV runs from 41.9 percent at 18 days to 39.3 percent at 200 days.

Days to expiry	At the money IV
18	41.9%
53	41.8%
109	46.4%
200	39.3%

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 53 day expiry, AMRZ's IV ten percent below the price sits 2.5 points above at the money IV.

Strike area	Implied volatility	Against at the money
10% below the price	44.3%	+2.5 points
At the money	41.8%	0.0 points
10% above the price	40.9%	-0.9 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, AMRZ's surface spans 4 expiries out to 200 days, with IV from 12.5 to 50.1 percent near the price.

Figure	Value
Expiries captured	4
Nearest expiry	16 Oct 2026, 18 days
Farthest expiry	16 Apr 2027, 200 days
Points within 10% of the price, 7 days out or more	14
Lowest IV among them	12.5%
Highest IV among them	50.1%

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, AMRZ has 4 captured expiries, from 16 Oct 2026 to 16 Apr 2027.

Expiry	Days	At the money IV	Call open interest	Put open interest
16 Oct 2026	18	41.9%	229	3,803
20 Nov 2026	53	41.8%	958	2,188
15 Jan 2027	109	46.4%	7,954	8,738
16 Apr 2027	200	39.3%	903	1,894

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, AMRZ's largest open interest sits at the 49.56 strike, with 4,210 contracts across the captured expiries.

Strike	Call open interest	Put open interest	Total
49.56	1,010	3,200	4,210
69.56	3,130	0	3,130
37.5	113	2,439	2,552
39.56	136	2,353	2,489
42.5	1,016	1,375	2,391
47.06	396	1,876	2,272

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, AMRZ's at the money IV moved from 42.7 percent to 41.9 percent.

Figure	25 Sep	28 Sep	Change
At the money IV	42.7%	41.9%	-0.8 points
Open interest, strikes captured near the price	23,488	26,667	+3,179
Put/call ratio, open interest	2.42	1.66	-0.77

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, 3,796 AMRZ option contracts traded, 0.8 times its own recent average.

Figure	Value
Calls traded	1,058
Puts traded	2,738
Against its recent average	0.8 times
Busier than	7 of its last 20 trading days
Open interest, whole chain	36,054 contracts
Volume to open interest	0.11
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 AMRZ'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	47.60	minus $1.07 million	50	49.6
21 Sep 2026	38.59	minus $831,677	44.6	39.6
28 Sep 2026	38.05	minus $837,939	42.5	39.56

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 AMRZ was bullish, paper trading.

Figure	Value
Side	Bullish at 45 trading days, no signal
Level above the close	40.05, the swing high of 22 Sep 2026
Level below the close	37.38, the swing low of 18 Sep 2026, a close past it runs against the view
The chart	Sits against the view
Strategy family	Bull call spread (buy a call 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.

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Rank by Timeframe

On 25 Sep 2026 AMRZ sat at the 85th percentile of the model's 45 trading day ranking, paper trading.

Timeframe	Percentile	Side
10 trading days	57 of 100	Neutral
20 trading days	81 of 100	Bullish
45 trading days	85 of 100	Bullish

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, 2 of 3 timeframes put AMRZ on the bullish side, paper trading.

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

Trading day	Signal	45 day percentile
25 Sep 2026	None	85 of 100
24 Sep 2026	None	92 of 100
23 Sep 2026	None	91 of 100
22 Sep 2026	None	91 of 100
21 Sep 2026	None	91 of 100
18 Sep 2026	None	94 of 100
17 Sep 2026	None	92 of 100
16 Sep 2026	None	85 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, 35 of 62 Materials names were bullish and 11 were bearish, paper trading.

Sector	Names	Bullish	Bearish	Neutral
Materials	62	35	11	16

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

AMRZ closed at 38.05 on 28 Sep 2026.

Figure	Value
Last close	38.05
Change over 5 trading days	-1.4%
Change over 21 trading days	-14.1%
Change over 63 trading days	-28.4%
Change over 252 trading days	-19.7%
52 week high	65.94
52 week low	36.87
20 day moving average	40.16
50 day moving average	44.65
200 day moving average	52.64
RSI, 14 days	34

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

AMRZ reports next on 27 Oct 2026, a date confirmed by the company.

Figure	Value
Next report	27 Oct 2026, after the close
Date	Confirmed by the company
Move after the report of 6 Aug 2026	-8.9%
Move after the report of 17 Feb 2026	+11.0%
Move after the report of 23 Dec 2025	+0.4%
Move after the report of 22 Sep 2025	-0.5%

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

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Questions

What is AMRZ's IV rank?: AMRZ's at the money implied volatility is 41.9 percent on 28 Sep 2026.
What move are AMRZ options pricing?: On 28 Sep 2026, AMRZ options priced a move of 10.0 percent down and 8.6 percent up by 16 Oct 2026.
Where are AMRZ's call wall and put wall?: On 28 Sep 2026, AMRZ's call wall is the 42.5 strike and its put wall is the 39.56 strike.
What was the desk's latest view of AMRZ on the Free plan?: On 25 Sep 2026 the desk's view of AMRZ was bullish, paper trading.
When does AMRZ report earnings next?: AMRZ reports next on 27 Oct 2026, a date confirmed by the company.

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