Information Technology

Applied Digital Corporation (APLD) options and signal

Figures as of 28 Sep 2026

APLD is Applied Digital Corporation, an Information Technology 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	Bull call spread, 15 Jan	25 Sep
IV rank	7 of 100	28 Sep
At the money IV	88.8%	28 Sep
Priced move to 30 Oct	25.6% down, 26.8% up	28 Sep
Call wall and put wall	30 and 25	28 Sep
Signal and the desk's view	Bullish signal, view bullish	25 Sep
Last close	24.53	28 Sep
Next report	7 Oct 2026	28 Sep

Trade Cards

On 25 Sep 2026 the Trade Card for APLD was a bull call spread expiring 15 Jan 2027, paper trading.

Figure	Value
Signal	Bullish, over 45 trading days
Strategy	Bull call spread, debit
Legs	Buy the 27 call, Sell the 37 call
Expiry	15 Jan 2027, 112 days to expiry
Limit	A debit of at most $2.74
Probability of profit	43%, the option market's odds at expiry, from delta
Max loss	$274 per contract
Max profit	$726 per contract
Breakeven	29.74
IV rank at that expiry	5 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

APLD's IV rank is 7 of 100 on 28 Sep 2026.

Figure	Value
IV rank	7 of 100
At the money IV	88.8%, near month, 32 days
Put/call ratio, open interest	0.60
Call open interest, strikes captured near the price	220,000 contracts
Put open interest, strikes captured near the price	133,000 contracts
Cost to trade at the money	Fair, 15.0% of the option's mid price

IV rank is where the at the money IV sits among APLD'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, APLD options priced a move of 25.6 percent down and 26.8 percent up by 30 Oct 2026.

Expiry	Days	Down	Up	Range
2 Oct 2026	4	7.4%	7.6%	22.72 to 26.40
9 Oct 2026	11	15.9%	16.3%	20.63 to 28.52
16 Oct 2026	18	21.0%	21.5%	19.38 to 29.80
30 Oct 2026	32	25.6%	26.8%	18.25 to 31.11
6 Nov 2026	39	26.7%	29.7%	17.99 to 31.81
20 Nov 2026	53	31.4%	33.2%	16.83 to 32.68
16 Apr 2027	200	59.1%	64.8%	10.03 to 40.43

The range is one standard deviation either side of the close of 24.53, 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, APLD's call wall is the 30 strike and its put wall is the 25 strike.

Figure	Value
Call wall, most open call gamma	30
Put wall, most open put gamma	25
Flip strike, where net gamma changes sign	25.73
Net dollar gamma, calls minus puts	$543,544
Total dollar gamma, both sides	$8.99 million
Close	24.53

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, APLD's at the money IV is 88.8 percent against 20 day realized volatility of 74.5 percent.

Figure	Value
At the money IV	88.8%
Realized volatility, 20 trading days	74.5%
Realized volatility, 60 trading days	89.1%
IV against its own weekly record	Low, in the bottom fifth
Weekly readings on record	148, from 16 Jun 2023
Weeks the price moved more than the one week priced move	27.9% of 147 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, APLD's at the money IV runs from 72.1 percent at 4 days to 84.7 percent at 200 days.

Days to expiry	At the money IV
4	72.1%
11	88.7%
18	92.4%
25	91.6%
32	88.8%
39	88.7%
53	86.5%
200	84.7%

Far expiries price more volatility than near ones, an upward sloping 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, APLD's IV ten percent below the price sits 5.2 points below at the money IV.

Strike area	Implied volatility	Against at the money
10% below the price	83.6%	-5.2 points
At the money	88.8%	0.0 points
10% above the price	88.3%	-0.6 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, APLD's surface spans 9 expiries out to 200 days, with IV from 81.6 to 101.8 percent near the price.

Figure	Value
Expiries captured	9
Nearest expiry	2 Oct 2026, 4 days
Farthest expiry	16 Apr 2027, 200 days
Points within 10% of the price, 7 days out or more	39
Lowest IV among them	81.6%
Highest IV among them	101.8%

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, APLD has 9 captured expiries, from 2 Oct 2026 to 16 Apr 2027.

Expiry	Days	At the money IV	Call open interest	Put open interest
2 Oct 2026	4	72.1%	11,196	22,310
9 Oct 2026	11	88.7%	13,241	8,907
16 Oct 2026	18	92.4%	42,425	27,436
23 Oct 2026	25	91.6%	3,590	3,471
30 Oct 2026	32	88.8%	1,835	2,016
6 Nov 2026	39	88.7%	133	651
20 Nov 2026	53	86.5%	13,002	3,937
15 Jan 2027	109	84.4%	130,940	53,870
16 Apr 2027	200	84.7%	3,333	10,736

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, APLD's largest open interest sits at the 30 strike, with 47,381 contracts across the captured expiries.

Strike	Call open interest	Put open interest	Total
30	33,624	13,757	47,381
25	18,385	20,303	38,688
40	29,390	1,784	31,174
35	20,944	4,364	25,308
20	12,809	9,103	21,912
27	11,605	9,602	21,207

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, APLD's at the money IV moved from 84.7 percent to 88.8 percent.

Figure	25 Sep	28 Sep	Change
At the money IV	84.7%	88.8%	+4.1 points
Open interest, strikes captured near the price	372,733	353,029	-19,704
Put/call ratio, open interest	0.53	0.61	+0.08

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, 70,950 APLD option contracts traded, 1.3 times its own recent average.

Figure	Value
Calls traded	40,394
Puts traded	30,556
Against its recent average	1.3 times
Busier than	16 of its last 20 trading days
Open interest, whole chain	527,311 contracts
Volume to open interest	0.13
Unusual volume flag	Yes, 9 contracts traded well above open interest
Largest flagged contract	The 25 put expiring 9 Oct, 3,714 traded against 999 open

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 APLD'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	29.69	$2.38 million	30	30
21 Sep 2026	28.19	$3.16 million	30	25
28 Sep 2026	24.53	$543,544	30	25

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 APLD was bullish, paper trading.

Figure	Value
Side	Bullish at 45 trading days, signal on
Level above the close	29.10, the swing high of 22 Sep 2026
Level below the close	23.83, the swing low of 2 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 APLD sat at the 98th percentile of the model's 45 trading day ranking, paper trading.

Timeframe	Percentile	Side
10 trading days	81 of 100	Bullish
20 trading days	97 of 100	Bullish
45 trading days	98 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, 3 of 3 timeframes put APLD on the bullish side, paper trading.

Group	Timeframes	Side	On that side
Near	10 day, 20 day	Bullish	2 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.

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Signal History

On 25 Sep 2026 APLD's bullish signal began that trading day, paper trading.

Trading day	Signal	45 day percentile
25 Sep 2026	Bullish	98 of 100
24 Sep 2026	None	77 of 100
23 Sep 2026	None	72 of 100
22 Sep 2026	None	36 of 100
21 Sep 2026	None	88 of 100
18 Sep 2026	Bullish	97 of 100
17 Sep 2026	Bullish	98 of 100
16 Sep 2026	Bullish	97 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, 80 of 187 Information Technology names were bullish and 61 were bearish, paper trading.

Sector	Names	Bullish	Bearish	Neutral
Information Technology	187	80	61	46

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

APLD closed at 24.53 on 28 Sep 2026.

Figure	Value
Last close	24.53
Change over 5 trading days	-13.0%
Change over 21 trading days	-10.6%
Change over 63 trading days	-35.1%
Change over 252 trading days	+8.6%
52 week high	50.73
52 week low	19.00
20 day moving average	26.16
50 day moving average	27.59
200 day moving average	32.18
RSI, 14 days	42

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

APLD reports next on 7 Oct 2026, a date confirmed by the company.

Figure	Value
Next report	7 Oct 2026, after the close
Date	Confirmed by the company
Move after the report of 27 Jul 2026	+0.9%
Move after the report of 8 Apr 2026	-8.0%
Move after the report of 7 Jan 2026	+8.1%
Move after the report of 9 Oct 2025	+16.1%

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

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Seasonality

In the 4 Septembers on record, APLD's average change was plus 36.2 percent, and it rose in 75.0 percent of them.

Month	Average change	Middle change	Share of years up	Years
September	+36.2%	+23.4%	75.0%	4
October	+10.9%	+7.2%	50.0%	4
November	+2.5%	-8.8%	25.0%	4

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 4 headlines naming APLD in the 3 days to 28 Sep 2026.

Figure	Value
Headlines in the window	4
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 APLD's IV rank?: APLD's IV rank is 7 of 100 on 28 Sep 2026.
What move are APLD options pricing?: On 28 Sep 2026, APLD options priced a move of 25.6 percent down and 26.8 percent up by 30 Oct 2026.
Where are APLD's call wall and put wall?: On 28 Sep 2026, APLD's call wall is the 30 strike and its put wall is the 25 strike.
What was the latest Trade Card for APLD on the Free plan?: On 25 Sep 2026 the Trade Card for APLD was a bull call spread expiring 15 Jan 2027, paper trading.
When does APLD report earnings next?: APLD reports next on 7 Oct 2026, a date confirmed by the company.

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