Financials

American Express Co (AXP) options and signal

Figures as of 28 Sep 2026

AXP is American Express Co, 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	80 of 100	28 Sep
At the money IV	31.3%	28 Sep
Priced move to 30 Oct	9.4% down, 9.3% up	28 Sep
Call wall and put wall	307.5 and 300	28 Sep
Signal and the desk's view	No signal, view bullish	25 Sep
Last close	306.33	28 Sep
Next report	23 Oct 2026	28 Sep

Options Snapshot

AXP's IV rank is 80 of 100 on 28 Sep 2026.

Figure	Value
IV rank	80 of 100
At the money IV	31.3%, near month, 32 days
Put/call ratio, open interest	0.94
Call open interest, strikes captured near the price	59,800 contracts
Put open interest, strikes captured near the price	56,000 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 AXP'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, AXP options priced a move of 9.4 percent down and 9.3 percent up by 30 Oct 2026.

Expiry	Days	Down	Up	Range
2 Oct 2026	4	3.1%	3.1%	296.84 to 315.88
9 Oct 2026	11	5.0%	5.9%	290.93 to 324.53
23 Oct 2026	25	8.5%	8.0%	280.23 to 330.93
30 Oct 2026	32	9.4%	9.3%	277.43 to 334.93
20 Nov 2026	53	11.0%	11.1%	272.53 to 340.33
18 Dec 2026	81	12.9%	13.7%	266.83 to 348.23
19 Feb 2027	144	17.6%	19.5%	252.53 to 366.03

The range is one standard deviation either side of the close of 306.33, 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, AXP's call wall is the 307.5 strike and its put wall is the 300 strike.

Figure	Value
Call wall, most open call gamma	307.5
Put wall, most open put gamma	300
Net dollar gamma, calls minus puts	minus $115,085
Total dollar gamma, both sides	$105.07 million
Close	306.33

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, AXP's at the money IV is 31.3 percent against 20 day realized volatility of 22.2 percent.

Figure	Value
At the money IV	31.3%
Realized volatility, 20 trading days	22.2%
Realized volatility, 60 trading days	24.4%
IV against its own weekly record	High, in the top fifth
Weekly readings on record	864, from 8 Jan 2010
Weeks the price moved more than the one week priced move	30.3% 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, AXP's at the money IV runs from 28.6 percent at 4 days to 28.8 percent at 144 days.

Days to expiry	At the money IV
4	28.6%
11	32.5%
18	28.5%
25	32.0%
39	31.4%
53	29.8%
81	28.3%
144	28.8%

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, AXP's IV ten percent below the price sits 1.4 points above at the money IV.

Strike area	Implied volatility	Against at the money
10% below the price	32.7%	+1.4 points
At the money	31.3%	0.0 points
10% above the price	33.9%	+2.5 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, AXP's surface spans 10 expiries out to 144 days, with IV from 26.6 to 44.7 percent near the price.

Figure	Value
Expiries captured	10
Nearest expiry	2 Oct 2026, 4 days
Farthest expiry	19 Feb 2027, 144 days
Points within 10% of the price, 7 days out or more	103
Lowest IV among them	26.6%
Highest IV among them	44.7%

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, AXP has 10 captured expiries, from 2 Oct 2026 to 19 Feb 2027.

Expiry	Days	At the money IV	Call open interest	Put open interest
2 Oct 2026	4	28.6%	7,644	4,049
9 Oct 2026	11	32.5%	2,448	1,823
16 Oct 2026	18	28.5%	6,925	14,887
23 Oct 2026	25	32.0%	1,251	1,693
30 Oct 2026	32	31.3%	392	1,071
6 Nov 2026	39	31.4%	45	64
20 Nov 2026	53	29.8%	5,226	7,166
18 Dec 2026	81	28.3%	8,770	8,216
15 Jan 2027	109	27.8%	25,515	14,466
19 Feb 2027	144	28.8%	1,571	2,608

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, AXP's largest open interest sits at the 300 strike, with 10,386 contracts across the captured expiries.

Strike	Call open interest	Put open interest	Total
300	1,989	8,397	10,386
320	4,696	4,819	9,515
310	2,339	6,867	9,206
350	6,181	1,900	8,081
330	4,242	3,284	7,526
430	6,681	12	6,693

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, AXP's at the money IV moved from 32.1 percent to 31.3 percent.

Figure	25 Sep	28 Sep	Change
At the money IV	32.1%	31.3%	-0.8 points
Open interest, strikes captured near the price	121,365	115,830	-5,535
Put/call ratio, open interest	0.93	0.94	+0.00

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, 8,872 AXP option contracts traded, 0.5 times its own recent average.

Figure	Value
Calls traded	4,293
Puts traded	4,579
Against its recent average	0.5 times
Busier than	0 of its last 20 trading days
Open interest, whole chain	198,880 contracts
Volume to open interest	0.04
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 AXP'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	340.81	$22.35 million	342	340
21 Sep 2026	313.59	minus $6.87 million	318	310
28 Sep 2026	306.33	minus $115,085	307.5	300

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 AXP was bullish, paper trading.

Figure	Value
Side	Bullish at 45 trading days, no signal
Level above the close	316.74, the swing high of 22 Sep 2026
Level below the close	299.91, the swing low of 24 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 AXP sat at the 90th percentile of the model's 45 trading day ranking, paper trading.

Timeframe	Percentile	Side
10 trading days	56 of 100	Neutral
20 trading days	77 of 100	Neutral
45 trading days	90 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, 1 of 3 timeframes put AXP on the bullish side, paper trading.

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

Trading day	Signal	45 day percentile
25 Sep 2026	None	90 of 100
24 Sep 2026	None	94 of 100
23 Sep 2026	None	75 of 100
22 Sep 2026	None	80 of 100
21 Sep 2026	None	70 of 100
18 Sep 2026	None	75 of 100
17 Sep 2026	None	74 of 100
16 Sep 2026	None	77 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, 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

AXP closed at 306.33 on 28 Sep 2026.

Figure	Value
Last close	306.33
Change over 5 trading days	-2.3%
Change over 21 trading days	-8.3%
Change over 63 trading days	-10.1%
Change over 252 trading days	-10.0%
52 week high	387.49
52 week low	290.97
20 day moving average	318.12
50 day moving average	331.01
200 day moving average	333.79
RSI, 14 days	35

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

AXP reports next on 23 Oct 2026, and options priced an earnings move of 6.4 percent through 23 Oct 2026.

Figure	Value
Next report	23 Oct 2026, before the open
Date	Confirmed by the company
Priced earnings move	6.4%, a straddle of $19.65 at the 305 strike, expiring 23 Oct 2026
Move after the report of 24 Jul 2026	-4.3%
Move after the report of 23 Apr 2026	-4.3%
Move after the report of 30 Jan 2026	-1.8%
Move after the report of 17 Oct 2025	+7.3%

The priced earnings move is the straddle's cost over the share price. It restates option prices and says nothing certain about the report.

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

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Company Events

AXP filed 1 current report in the 14 days to 28 Sep 2026, the latest on 15 Sep 2026.

Filed	Report	What it covers
15 Sep 2026	Current report	Regulation FD Disclosure

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

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Public Filings

1 of the 10 fund managers the desk tracks list AXP among the top holdings of their latest quarterly report.

Fund manager
Berkshire Hathaway

Every filing is reproduced as filed, and each one reaches the public days or weeks after the trade.

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

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Short Volume

On 25 Sep 2026, 44.8 percent of AXP's reported volume at the covered venues was marked short.

Figure	Value
Short sale share, 25 Sep	44.8%
Five day average	47.8%
52 week median	52.5%

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, AXP's average change was minus 0.5 percent, and it rose in 55.6 percent of them.

Month	Average change	Middle change	Share of years up	Years
September	-0.5%	+0.2%	55.6%	36
October	+0.4%	+1.4%	52.8%	36
November	+3.9%	+3.0%	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 AXP 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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Questions

What is AXP's IV rank?: AXP's IV rank is 80 of 100 on 28 Sep 2026.
What move are AXP options pricing?: On 28 Sep 2026, AXP options priced a move of 9.4 percent down and 9.3 percent up by 30 Oct 2026.
Where are AXP's call wall and put wall?: On 28 Sep 2026, AXP's call wall is the 307.5 strike and its put wall is the 300 strike.
What was the desk's latest view of AXP on the Free plan?: On 25 Sep 2026 the desk's view of AXP was bullish, paper trading.
When does AXP report earnings next?: AXP reports next on 23 Oct 2026, and options priced an earnings move of 6.4 percent through 23 Oct 2026.

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Guides and the full list

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