Financials

Popular, Inc. (BPOP) options and signal

Figures as of 28 Sep 2026

BPOP is Popular, Inc., 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.

Membership gets tonight's signals the night they publish. Free gets every options screen, never delayed, and the signals one trading day behind.

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At a glance

Figure	Value	Date
IV rank	74 of 100	28 Sep
At the money IV	41.4%	28 Sep
Priced move to 16 Oct	9.1% down, 11.0% up	28 Sep
Call wall and put wall	170 and 160	28 Sep
Signal and the desk's view	No signal, view bullish	25 Sep
Last close	158.85	28 Sep
Next report	22 Oct 2026	28 Sep

Options Snapshot

BPOP's IV rank is 74 of 100 on 28 Sep 2026.

Figure	Value
IV rank	74 of 100
At the money IV	41.4%, near month, 18 days
Put/call ratio, open interest	0.25
Call open interest, strikes captured near the price	945 contracts
Put open interest, strikes captured near the price	239 contracts
Cost to trade at the money	Wide, 52.5% of the option's mid price

IV rank is where the at the money IV sits among BPOP'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, BPOP options priced a move of 9.1 percent down and 11.0 percent up by 16 Oct 2026.

Expiry	Days	Down	Up	Range
16 Oct 2026	18	9.1%	11.0%	144.35 to 176.25
15 Jan 2027	109	16.4%	17.0%	132.75 to 185.85
16 Apr 2027	200	19.5%	22.2%	127.95 to 194.15

The range is one standard deviation either side of the close of 158.85, 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, BPOP's call wall is the 170 strike and its put wall is the 160 strike.

Figure	Value
Call wall, most open call gamma	170
Put wall, most open put gamma	160
Net dollar gamma, calls minus puts	$177,982
Total dollar gamma, both sides	$476,512
Close	158.85

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, BPOP's at the money IV is 41.4 percent against 20 day realized volatility of 17.6 percent.

Figure	Value
At the money IV	41.4%
Realized volatility, 20 trading days	17.6%
Realized volatility, 60 trading days	17.0%
IV against its own weekly record	In the middle
Weekly readings on record	845, from 8 Jan 2010
Weeks the price moved more than the one week priced move	20.1% of 234 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, BPOP's at the money IV runs from 41.4 percent at 18 days to 26.2 percent at 200 days.

Days to expiry	At the money IV
18	41.4%
109	30.0%
200	26.2%

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 Surface

On 28 Sep 2026, BPOP's surface spans 3 expiries out to 200 days, with IV from 23.4 to 87.4 percent near the price.

Figure	Value
Expiries captured	3
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	13
Lowest IV among them	23.4%
Highest IV among them	87.4%

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, BPOP has 3 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	41.4%	350	217
15 Jan 2027	109	30.0%	582	11
16 Apr 2027	200	26.2%	13	11

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, BPOP's largest open interest sits at the 170 strike, with 392 contracts across the captured expiries.

Strike	Call open interest	Put open interest	Total
170	389	3	392
160	200	105	305
145	130	12	142
175	56	59	115
165	70	9	79
150	21	19	40

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, BPOP's at the money IV moved from 33.2 percent to 41.4 percent.

Figure	25 Sep	28 Sep	Change
At the money IV	33.2%	41.4%	+8.3 points
Open interest, strikes captured near the price	1,176	1,184	+8
Put/call ratio, open interest	0.26	0.25	-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.

Open Since Yesterday in RingMaster The Since Yesterday guide

Changed Hands

On 28 Sep 2026, 279 BPOP option contracts traded, 0.9 times its own recent average.

Figure	Value
Calls traded	116
Puts traded	163
Against its recent average	0.9 times
Open interest, whole chain	1,227 contracts
Volume to open interest	0.23
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 5 trading days of BPOP's option positioning, from 22 Sep 2026 to 28 Sep 2026.

Date	Close	Net dollar gamma	Top call strike	Top put strike
22 Sep 2026	160.19	$176,689	170	160
28 Sep 2026	158.85	$177,982	170	160

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 BPOP was bullish, paper trading.

Figure	Value
Side	Bullish at 45 trading days, no signal
Level above the close	162.07, the swing high of 11 Sep 2026
Level below the close	158.01, 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 BPOP sat at the 98th percentile of the model's 45 trading day ranking, paper trading.

Timeframe	Percentile	Side
10 trading days	57 of 100	Neutral
20 trading days	66 of 100	Neutral
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, 1 of 3 timeframes put BPOP 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 BPOP had carried no signal for at least 5 trading days, paper trading.

Trading day	Signal	45 day percentile
25 Sep 2026	None	98 of 100
24 Sep 2026	None	96 of 100
23 Sep 2026	None	96 of 100
22 Sep 2026	None	92 of 100
21 Sep 2026	None	93 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.

Open Sector Split in RingMaster The Sector Split guide

Price Chart

BPOP closed at 158.85 on 28 Sep 2026.

Figure	Value
Last close	158.85
Change over 5 trading days	-2.3%
Change over 21 trading days	-6.4%
Change over 63 trading days	-3.6%
Change over 252 trading days	+25.1%
52 week high	179.24
52 week low	108.74
20 day moving average	164.19
50 day moving average	169.55
200 day moving average	149.50
RSI, 14 days	33

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

BPOP reports next on 22 Oct 2026, a date worked out from past quarters.

Figure	Value
Next report	22 Oct 2026, before the open
Date	Worked out from past quarters
Move after the report of 23 Jul 2026	-1.7%
Move after the report of 23 Apr 2026	+0.7%
Move after the report of 27 Jan 2026	+6.3%
Move after the report of 23 Oct 2025	-1.2%

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

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Seasonality

In the 36 Septembers on record, BPOP's average change was plus 1.0 percent, and it rose in 52.8 percent of them.

Month	Average change	Middle change	Share of years up	Years
September	+1.0%	+0.9%	52.8%	36
October	-0.4%	-0.7%	47.2%	36
November	+2.5%	+2.6%	63.9%	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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Questions

What is BPOP's IV rank?: BPOP's IV rank is 74 of 100 on 28 Sep 2026.
What move are BPOP options pricing?: On 28 Sep 2026, BPOP options priced a move of 9.1 percent down and 11.0 percent up by 16 Oct 2026.
Where are BPOP's call wall and put wall?: On 28 Sep 2026, BPOP's call wall is the 170 strike and its put wall is the 160 strike.
What was the desk's latest view of BPOP on the Free plan?: On 25 Sep 2026 the desk's view of BPOP was bullish, paper trading.
When does BPOP report earnings next?: BPOP reports next on 22 Oct 2026, a date worked out from past quarters.

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Strike	Call open interest	Put open interest	Total
170	389	3	392
160	200	105	305
145	130	12	142
175	56	59	115
165	70	9	79
150	21	19	40

Strike	Call open interest	Put open interest	Total
170	389	3	392
160	200	105	305
145	130	12	142
175	56	59	115
165	70	9	79
150	21	19	40

Strike	Call open interest	Put open interest	Total
170	389	3	392
160	200	105	305
145	130	12	142
175	56	59	115
165	70	9	79
150	21	19	40