Consumer Discretionary

BorgWarner Inc. (BWA) options and signal

Figures as of 28 Sep 2026

BWA is BorgWarner Inc., a Consumer Discretionary 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	Cash-secured put, 18 Dec	25 Sep
IV rank	85 of 100	28 Sep
At the money IV	41.3%	28 Sep
Priced move to 16 Oct	8.7% down, 8.4% up	28 Sep
Call wall and put wall	70 and 60	28 Sep
Signal and the desk's view	Bullish signal, view bullish	25 Sep
Last close	61.07	28 Sep
Next report	29 Oct 2026	28 Sep

Trade Cards

On 25 Sep 2026 the Trade Card for BWA was a cash-secured put expiring 18 Dec 2026, paper trading.

Figure	Value
Signal	Bullish, over 45 trading days
Strategy	Cash-secured put, credit
Legs	Sell the 57.5 put
Expiry	18 Dec 2026, 84 days to expiry
Limit	A credit of at least $1.55
Probability of profit	65%, the option market's odds at expiry, from delta
Max loss	$5,595 per contract
Max profit	$155 per contract
Breakeven	55.95
IV rank at that expiry	96 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

BWA's IV rank is 85 of 100 on 28 Sep 2026.

Figure	Value
IV rank	85 of 100
At the money IV	41.3%, near month, 18 days
Put/call ratio, open interest	0.33
Call open interest, strikes captured near the price	17,700 contracts
Put open interest, strikes captured near the price	5,880 contracts
Cost to trade at the money	Wide, 50.5% of the option's mid price

IV rank is where the at the money IV sits among BWA'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, BWA options priced a move of 8.7 percent down and 8.4 percent up by 16 Oct 2026.

Expiry	Days	Down	Up	Range
16 Oct 2026	18	8.7%	8.4%	55.73 to 66.21
20 Nov 2026	53	16.0%	16.5%	51.28 to 71.17
18 Dec 2026	81	19.0%	21.9%	49.47 to 74.47
15 Jan 2027	109	20.6%	21.9%	48.47 to 74.47
19 Mar 2027	172	26.4%	32.7%	44.97 to 81.07
16 Apr 2027	200	27.7%	29.1%	44.17 to 78.87

The range is one standard deviation either side of the close of 61.07, 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, BWA's call wall is the 70 strike and its put wall is the 60 strike.

Figure	Value
Call wall, most open call gamma	70
Put wall, most open put gamma	60
Flip strike, where net gamma changes sign	63.28
Net dollar gamma, calls minus puts	$679,042
Total dollar gamma, both sides	$2.82 million
Close	61.07

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.

Open Gamma Map in RingMaster The Gamma Map guide

Volatility History

On 28 Sep 2026, BWA's at the money IV is 41.3 percent against 20 day realized volatility of 36.4 percent.

Figure	Value
At the money IV	41.3%
Realized volatility, 20 trading days	36.4%
Realized volatility, 60 trading days	35.4%
IV against its own weekly record	High, in the top fifth
Weekly readings on record	848, from 8 Jan 2010
Weeks the price moved more than the one week priced move	24.6% of 236 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, BWA's at the money IV runs from 41.3 percent at 18 days to 39.4 percent at 200 days.

Days to expiry	At the money IV
18	41.3%
53	43.0%
81	50.7%
109	41.5%
172	44.0%
200	39.4%

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 Smile

On 28 Sep 2026, at the 53 day expiry, BWA's IV ten percent below the price sits 32.4 points above at the money IV.

Strike area	Implied volatility	Against at the money
10% below the price	75.4%	+32.4 points
At the money	43.0%	0.0 points
10% above the price	38.0%	-5.1 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, BWA's surface spans 6 expiries out to 200 days, with IV from 35.8 to 75.4 percent near the price.

Figure	Value
Expiries captured	6
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	29
Lowest IV among them	35.8%
Highest IV among them	75.4%

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, BWA has 6 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	41.3%	7,697	2,966
20 Nov 2026	53	43.0%	3,995	899
18 Dec 2026	81	50.7%	398	237
15 Jan 2027	109	41.5%	1,894	925
19 Mar 2027	172	44.0%	3,696	562
16 Apr 2027	200	39.4%	8	293

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, BWA's largest open interest sits at the 70 strike, with 6,443 contracts across the captured expiries.

Strike	Call open interest	Put open interest	Total
70	5,679	764	6,443
80	4,495	0	4,495
60	1,431	1,909	3,340
65	2,148	482	2,630
62.5	296	1,067	1,363
75	951	1	952

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, BWA's at the money IV moved from 44.1 percent to 41.3 percent.

Figure	25 Sep	28 Sep	Change
At the money IV	44.1%	41.3%	-2.8 points
Open interest, strikes captured near the price	23,790	23,570	-220
Put/call ratio, open interest	0.34	0.33	-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, 1,599 BWA option contracts traded, 0.4 times its own recent average.

Figure	Value
Calls traded	1,192
Puts traded	407
Against its recent average	0.4 times
Busier than	8 of its last 20 trading days
Open interest, whole chain	28,120 contracts
Volume to open interest	0.06
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 BWA'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	69.68	$2.41 million	70	65
21 Sep 2026	63.32	$574,951	70	60
28 Sep 2026	61.07	$679,042	70	60

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 BWA was bullish, paper trading.

Figure	Value
Side	Bullish at 45 trading days, signal on
Level above the close	61.44, the swing high of 16 Sep 2026
Level below the close	58.10, 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.

Open Read-out in RingMaster The Read-out guide

Rank by Timeframe

On 25 Sep 2026 BWA sat at the 97th percentile of the model's 45 trading day ranking, paper trading.

Timeframe	Percentile	Side
10 trading days	86 of 100	Bullish
20 trading days	94 of 100	Bullish
45 trading days	97 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 BWA 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.

Open Timeframe Agreement in RingMaster The Timeframe Agreement guide

Signal History

On 25 Sep 2026 BWA's bullish signal had held 14 trading days in a row, paper trading.

Trading day	Signal	45 day percentile
25 Sep 2026	Bullish	97 of 100
24 Sep 2026	Bullish	100 of 100
23 Sep 2026	Bullish	100 of 100
22 Sep 2026	Bullish	99 of 100
21 Sep 2026	Bullish	99 of 100
18 Sep 2026	Bullish	99 of 100
17 Sep 2026	Bullish	100 of 100
16 Sep 2026	Bullish	99 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, 27 of 106 Consumer Discretionary names were bullish and 33 were bearish, paper trading.

Sector	Names	Bullish	Bearish	Neutral
Consumer Discretionary	106	27	33	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

BWA closed at 61.07 on 28 Sep 2026.

Figure	Value
Last close	61.07
Change over 5 trading days	-3.6%
Change over 21 trading days	-5.8%
Change over 63 trading days	-7.3%
Change over 252 trading days	+40.7%
52 week high	78.82
52 week low	40.50
20 day moving average	63.58
50 day moving average	64.77
200 day moving average	59.13
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

BWA reports next on 29 Oct 2026, a date confirmed by the company.

Figure	Value
Next report	29 Oct 2026, before the open
Date	Confirmed by the company
Move after the report of 5 Aug 2026	+5.9%
Move after the report of 30 Apr 2026	-0.3%
Move after the report of 28 Jan 2026	+1.4%
Move after the report of 28 Oct 2025	-1.6%

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

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Seasonality

In the 32 Septembers on record, BWA's average change was minus 2.3 percent, and it rose in 43.8 percent of them.

Month	Average change	Middle change	Share of years up	Years
September	-2.3%	-2.8%	43.8%	32
October	+2.2%	+1.9%	63.6%	33
November	+1.2%	+0.7%	63.6%	33

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 BWA's IV rank?: BWA's IV rank is 85 of 100 on 28 Sep 2026.
What move are BWA options pricing?: On 28 Sep 2026, BWA options priced a move of 8.7 percent down and 8.4 percent up by 16 Oct 2026.
Where are BWA's call wall and put wall?: On 28 Sep 2026, BWA's call wall is the 70 strike and its put wall is the 60 strike.
What was the latest Trade Card for BWA on the Free plan?: On 25 Sep 2026 the Trade Card for BWA was a cash-secured put expiring 18 Dec 2026, paper trading.
When does BWA report earnings next?: BWA reports next on 29 Oct 2026, a date confirmed by the company.

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