Financials

Bank of Montreal (BMO) options and signal

Figures as of 28 Sep 2026

BMO is Bank of Montreal, 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	76 of 100	28 Sep
At the money IV	24.3%	28 Sep
Priced move to 16 Oct	5.8% down, 5.5% up	28 Sep
Call wall and put wall	180 and 170	28 Sep
Signal and the desk's view	No signal, view bullish	25 Sep
Last close	171.15	28 Sep
Next report	2 Dec 2026	28 Sep

Options Snapshot

BMO's IV rank is 76 of 100 on 28 Sep 2026.

Figure	Value
IV rank	76 of 100
At the money IV	24.3%, near month, 18 days
Put/call ratio, open interest	0.95
Call open interest, strikes captured near the price	7,900 contracts
Put open interest, strikes captured near the price	7,520 contracts
Cost to trade at the money	Wide, 53.1% of the option's mid price

IV rank is where the at the money IV sits among BMO'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, BMO options priced a move of 5.8 percent down and 5.5 percent up by 16 Oct 2026.

Expiry	Days	Down	Up	Range
16 Oct 2026	18	5.8%	5.5%	161.22 to 180.53
20 Nov 2026	53	9.3%	8.8%	155.15 to 186.25
18 Dec 2026	81	13.0%	11.7%	148.85 to 191.25
15 Jan 2027	109	14.2%	13.3%	146.85 to 193.95
19 Mar 2027	172	17.9%	19.2%	140.45 to 204.05

The range is one standard deviation either side of the close of 171.15, 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, BMO's call wall is the 180 strike and its put wall is the 170 strike.

Figure	Value
Call wall, most open call gamma	180
Put wall, most open put gamma	170
Net dollar gamma, calls minus puts	minus $667,700
Total dollar gamma, both sides	$7.96 million
Close	171.15

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 2 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, BMO's at the money IV is 24.3 percent against 20 day realized volatility of 20.2 percent.

Figure	Value
At the money IV	24.3%
Realized volatility, 20 trading days	20.2%
Realized volatility, 60 trading days	19.9%
IV against its own weekly record	In the middle
Weekly readings on record	766, from 8 Jan 2010
Weeks the price moved more than the one week priced move	31.9% of 235 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, BMO's at the money IV runs from 24.3 percent at 18 days to 25.3 percent at 172 days.

Days to expiry	At the money IV
18	24.3%
53	24.4%
81	26.5%
109	26.2%
172	25.3%

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 53 day expiry, BMO's IV ten percent below the price sits 24.7 points above at the money IV.

Strike area	Implied volatility	Against at the money
10% below the price	49.1%	+24.7 points
At the money	24.4%	0.0 points
10% above the price	25.6%	+1.2 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, BMO's surface spans 5 expiries out to 172 days, with IV from 23.6 to 49.1 percent near the price.

Figure	Value
Expiries captured	5
Nearest expiry	16 Oct 2026, 18 days
Farthest expiry	19 Mar 2027, 172 days
Points within 10% of the price, 7 days out or more	34
Lowest IV among them	23.6%
Highest IV among them	49.1%

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, BMO has 5 captured expiries, from 16 Oct 2026 to 19 Mar 2027.

Expiry	Days	At the money IV	Call open interest	Put open interest
16 Oct 2026	18	24.3%	1,265	1,621
20 Nov 2026	53	24.4%	1,120	994
18 Dec 2026	81	26.5%	3,433	1,732
15 Jan 2027	109	26.2%	1,684	2,910
19 Mar 2027	172	25.3%	403	262

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, BMO's largest open interest sits at the 180 strike, with 2,928 contracts across the captured expiries.

Strike	Call open interest	Put open interest	Total
180	1,516	1,412	2,928
175	1,032	946	1,978
195	1,737	0	1,737
170	341	1,393	1,734
185	1,233	85	1,318
145	18	956	974

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, BMO's at the money IV moved from 23.4 percent to 24.3 percent.

Figure	25 Sep	28 Sep	Change
At the money IV	23.4%	24.3%	+0.9 points
Open interest, strikes captured near the price	14,372	15,424	+1,052
Put/call ratio, open interest	0.91	0.95	+0.04

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, 3,623 BMO option contracts traded, 1.1 times its own recent average.

Figure	Value
Calls traded	1,496
Puts traded	2,127
Against its recent average	1.1 times
Busier than	16 of its last 20 trading days
Open interest, whole chain	17,235 contracts
Volume to open interest	0.21
Unusual volume flag	Yes, 2 contracts traded well above open interest
Largest flagged contract	The 175 call expiring 18 Dec, 516 traded against 208 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 29 trading days of BMO's option positioning, from 18 Aug 2026 to 28 Sep 2026.

Date	Close	Net dollar gamma	Top call strike	Top put strike
18 Aug 2026	182.57	$1.82 million	185	180
21 Sep 2026	177.19	$1.68 million	185	180
28 Sep 2026	171.15	minus $667,700	180	170

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 BMO was bullish, paper trading.

Figure	Value
Side	Bullish at 45 trading days, no signal
Level above the close	176.15, the swing high of 15 Sep 2026
Level below the close	170.97, the swing low of 16 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.

Open Read-out in RingMaster The Read-out guide

Rank by Timeframe

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

Timeframe	Percentile	Side
10 trading days	53 of 100	Neutral
20 trading days	72 of 100	Neutral
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, 1 of 3 timeframes put BMO 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 BMO had carried no signal for at least 18 trading days, paper trading.

Trading day	Signal	45 day percentile
25 Sep 2026	None	85 of 100
24 Sep 2026	None	84 of 100
23 Sep 2026	None	88 of 100
22 Sep 2026	None	69 of 100
21 Sep 2026	None	46 of 100
18 Sep 2026	None	46 of 100
17 Sep 2026	None	86 of 100
16 Sep 2026	None	92 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

BMO closed at 171.15 on 28 Sep 2026.

Figure	Value
Last close	171.15
Change over 5 trading days	-3.4%
Change over 21 trading days	-0.6%
Change over 63 trading days	-2.8%
Change over 252 trading days	+32.3%
52 week high	187.22
52 week low	119.84
20 day moving average	173.26
50 day moving average	176.42
200 day moving average	155.71
RSI, 14 days	43

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

BMO reports next on 2 Dec 2026, a date confirmed by the company.

Figure	Value
Next report	2 Dec 2026
Date	Confirmed by the company

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

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Seasonality

In the 31 Septembers on record, BMO's average change was plus 1.7 percent, and it rose in 64.5 percent of them.

Month	Average change	Middle change	Share of years up	Years
September	+1.7%	+1.1%	64.5%	31
October	+1.1%	+1.7%	71.0%	31
November	+2.0%	+1.5%	64.5%	31

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 1 headline naming BMO in the 3 days to 28 Sep 2026.

Figure	Value
Headlines in the window	1
Latest	26 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 BMO's IV rank?: BMO's IV rank is 76 of 100 on 28 Sep 2026.
What move are BMO options pricing?: On 28 Sep 2026, BMO options priced a move of 5.8 percent down and 5.5 percent up by 16 Oct 2026.
Where are BMO's call wall and put wall?: On 28 Sep 2026, BMO's call wall is the 180 strike and its put wall is the 170 strike.
What was the desk's latest view of BMO on the Free plan?: On 25 Sep 2026 the desk's view of BMO was bullish, paper trading.
When does BMO report earnings next?: BMO reports next on 2 Dec 2026, a date confirmed by the company.

More Financials names

Guides and the full list

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