Financials

Aon plc (AON) options and signal

Figures as of 28 Sep 2026

AON is Aon plc, a Financials 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	98 of 100	28 Sep
At the money IV	32.6%	28 Sep
Priced move to 16 Oct	7.3% down, 6.9% up	28 Sep
Call wall and put wall	290 and 280	28 Sep
Signal and the desk's view	No signal, view neutral	25 Sep
Last close	272.10	28 Sep
Next report	30 Oct 2026	28 Sep

Options Snapshot

AON's IV rank is 98 of 100 on 28 Sep 2026.

Figure	Value
IV rank	98 of 100
At the money IV	32.6%, near month, 18 days
Put/call ratio, open interest	1.46
Call open interest, strikes captured near the price	3,210 contracts
Put open interest, strikes captured near the price	4,700 contracts
Cost to trade at the money	Fair, 33.1% of the option's mid price

IV rank is where the at the money IV sits among AON'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, AON options priced a move of 7.3 percent down and 6.9 percent up by 16 Oct 2026.

Expiry	Days	Down	Up	Range
16 Oct 2026	18	7.3%	6.9%	252.30 to 290.90
20 Nov 2026	53	13.6%	13.6%	235.10 to 309.00
18 Dec 2026	81	14.9%	15.4%	231.50 to 313.90
15 Jan 2027	109	17.2%	18.7%	225.30 to 323.00
16 Apr 2027	200	22.1%	25.7%	212.00 to 341.90

The range is one standard deviation either side of the close of 272.10, 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, AON's call wall is the 290 strike and its put wall is the 280 strike.

Figure	Value
Call wall, most open call gamma	290
Put wall, most open put gamma	280
Flip strike, where net gamma changes sign	319.74
Net dollar gamma, calls minus puts	minus $2.25 million
Total dollar gamma, both sides	$4.53 million
Close	272.10

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, AON's at the money IV is 32.6 percent against 20 day realized volatility of 41.2 percent.

Figure	Value
At the money IV	32.6%
Realized volatility, 20 trading days	41.2%
Realized volatility, 60 trading days	32.3%
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	26.6% 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, AON's at the money IV runs from 32.6 percent at 18 days to 32.2 percent at 200 days.

Days to expiry	At the money IV
18	32.6%
53	35.6%
81	33.9%
109	32.4%
200	32.2%

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 53 day expiry, AON's IV ten percent below the price sits 0.3 points above at the money IV.

Strike area	Implied volatility	Against at the money
10% below the price	36.0%	+0.3 points
At the money	35.6%	0.0 points
10% above the price	33.8%	-1.9 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, AON's surface spans 5 expiries out to 200 days, with IV from 31.6 to 38.5 percent near the price.

Figure	Value
Expiries captured	5
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	25
Lowest IV among them	31.6%
Highest IV among them	38.5%

From the option chain at the close on 28 Sep 2026. Current on every plan.

Open Volatility Surface in RingMaster The Volatility Surface guide

Expiry Ladder

On 28 Sep 2026, AON has 5 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	32.6%	633	1,894
20 Nov 2026	53	35.6%	608	1,080
18 Dec 2026	81	33.9%	123	557
15 Jan 2027	109	32.4%	1,649	967
16 Apr 2027	200	32.2%	195	203

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, AON's largest open interest sits at the 310 strike, with 1,495 contracts across the captured expiries.

Strike	Call open interest	Put open interest	Total
310	247	1,248	1,495
300	319	684	1,003
280	133	596	729
290	247	471	718
260	5	651	656
380	398	0	398

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, AON's at the money IV moved from 30.4 percent to 32.6 percent.

Figure	25 Sep	28 Sep	Change
At the money IV	30.4%	32.6%	+2.3 points
Open interest, strikes captured near the price	7,454	7,909	+455
Put/call ratio, open interest	1.40	1.47	+0.07

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, 1,744 AON option contracts traded, 0.8 times its own recent average.

Figure	Value
Calls traded	944
Puts traded	800
Against its recent average	0.8 times
Busier than	14 of its last 20 trading days
Open interest, whole chain	10,000 contracts
Volume to open interest	0.17
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 AON'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	356.46	$2.97 million	360	320
21 Sep 2026	290.82	minus $2.87 million	310	310
28 Sep 2026	272.10	minus $2.25 million	290	280

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 AON was neutral, paper trading.

Figure	Value
Side	Neutral at 45 trading days, no signal
Level above the close	302.44, the swing high of 11 Sep 2026
Level below the close	270.00, the swing low of 28 Sep 2026
Strategy family	Iron condor (sell both sides, defined risk)
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 AON sat at the 29th percentile of the model's 45 trading day ranking, paper trading.

Timeframe	Percentile	Side
10 trading days	71 of 100	Neutral
20 trading days	61 of 100	Neutral
45 trading days	29 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 AON's near timeframes were neutral and its long timeframe was neutral, paper trading.

Group	Timeframes	Side	On that side
Near	10 day, 20 day	Neutral	0 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 AON had carried no signal for at least 18 trading days, paper trading.

Trading day	Signal	45 day percentile
25 Sep 2026	None	29 of 100
24 Sep 2026	None	62 of 100
23 Sep 2026	None	59 of 100
22 Sep 2026	None	65 of 100
21 Sep 2026	None	34 of 100
18 Sep 2026	None	28 of 100
17 Sep 2026	None	32 of 100
16 Sep 2026	None	41 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, 63 of 135 Financials names were bullish and 32 were bearish, paper trading.

Sector	Names	Bullish	Bearish	Neutral
Financials	135	63	32	40

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

AON closed at 272.10 on 28 Sep 2026.

Figure	Value
Last close	272.10
Change over 5 trading days	-6.4%
Change over 21 trading days	-22.2%
Change over 63 trading days	-16.9%
Change over 252 trading days	-22.6%
52 week high	382.34
52 week low	270.00
20 day moving average	302.65
50 day moving average	335.77
200 day moving average	333.30
RSI, 14 days	23

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

AON reports next on 30 Oct 2026, a date worked out from past quarters.

Figure	Value
Next report	30 Oct 2026, before the open
Date	Worked out from past quarters
Move after the report of 29 Jul 2026	-1.1%
Move after the report of 1 May 2026	-0.0%
Move after the report of 30 Jan 2026	+1.9%
Move after the report of 31 Oct 2025	+3.8%

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

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Company Events

AON filed 2 current reports in the 14 days to 28 Sep 2026, the latest on 22 Sep 2026.

Filed	Report	What it covers
22 Sep 2026	Current report	Entry into a Material Definitive Agreement; Termination of a Material Definitive Agreement; Creation of a Direct Financial Obligation or an Obligation under an Off-Balance Sheet Arrangement of a Registrant
17 Sep 2026	Current report	Other Events

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

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Short Volume

On 25 Sep 2026, 41.5 percent of AON's reported volume at the covered venues was marked short.

Figure	Value
Short sale share, 25 Sep	41.5%
Five day average	38.5%
52 week median	47.5%

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, AON's average change was plus 1.1 percent, and it rose in 58.3 percent of them.

Month	Average change	Middle change	Share of years up	Years
September	+1.1%	+0.7%	58.3%	36
October	+0.1%	+1.4%	58.3%	36
November	+2.2%	+2.9%	72.2%	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 2 headlines naming AON in the 3 days to 28 Sep 2026.

Figure	Value
Headlines in the window	2
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 AON's IV rank?: AON's IV rank is 98 of 100 on 28 Sep 2026.
What move are AON options pricing?: On 28 Sep 2026, AON options priced a move of 7.3 percent down and 6.9 percent up by 16 Oct 2026.
Where are AON's call wall and put wall?: On 28 Sep 2026, AON's call wall is the 290 strike and its put wall is the 280 strike.
What was the desk's latest view of AON on the Free plan?: On 25 Sep 2026 the desk's view of AON was neutral, paper trading.
When does AON report earnings next?: AON reports next on 30 Oct 2026, a date worked out from past quarters.

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