Options
CBRS options
Figures as of 28 Sep 2026
The options figures are from the close on 28 Sep 2026.
Membership gets tonight's signals the night they publish. Free gets every options screen, never delayed, and the signals one trading day behind.
At a glance
| Figure | Value | Date |
|---|---|---|
| Priced move to 30 Oct | 20.1% down, 23.0% up | 28 Sep |
| Call wall and put wall | 210 and 200 | 28 Sep |
Options Snapshot
CBRS's at the money implied volatility is 70.1 percent on 28 Sep 2026.
| Figure | Value |
|---|---|
| IV rank | Not stated, 0 weeks of record |
| At the money IV | 70.1%, near month, 32 days |
| Put/call ratio, open interest | 0.80 |
| Call open interest, strikes captured near the price | 66,500 contracts |
| Put open interest, strikes captured near the price | 53,300 contracts |
| Cost to trade at the money | Fair, 23.0% of the option's mid price |
From the option chain at the close on 28 Sep 2026. Current on every plan.
Open Options Snapshot in RingMasterThe Options Snapshot guide
Priced Range
On 28 Sep 2026, CBRS options priced a move of 20.1 percent down and 23.0 percent up by 30 Oct 2026.
| Expiry | Days | Down | Up | Range |
|---|---|---|---|---|
| 2 Oct 2026 | 4 | 7.9% | 8.5% | 181.24 to 213.54 |
| 9 Oct 2026 | 11 | 10.7% | 13.1% | 175.74 to 222.44 |
| 23 Oct 2026 | 25 | 17.4% | 19.7% | 162.54 to 235.44 |
| 30 Oct 2026 | 32 | 20.1% | 23.0% | 157.24 to 242.04 |
| 20 Nov 2026 | 53 | 27.9% | 30.0% | 141.84 to 255.84 |
| 15 Jan 2027 | 109 | 38.6% | 41.4% | 120.74 to 278.14 |
| 16 Apr 2027 | 200 | 52.9% | 59.0% | 92.74 to 312.74 |
The range is one standard deviation either side of the close of 196.74, 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.
Gamma Map
On 28 Sep 2026, CBRS's call wall is the 210 strike and its put wall is the 200 strike.
| Figure | Value |
|---|---|
| Call wall, most open call gamma | 210 |
| Put wall, most open put gamma | 200 |
| Net dollar gamma, calls minus puts | $6.1 million |
| Total dollar gamma, both sides | $32.64 million |
| Close | 196.74 |
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 5 strikes, so no single flip strike is named.
From the option chain at the close on 28 Sep 2026. Current on every plan.
Volatility History
On 28 Sep 2026, CBRS's at the money IV is 70.1 percent against 20 day realized volatility of 68.3 percent.
| Figure | Value |
|---|---|
| At the money IV | 70.1% |
| Realized volatility, 20 trading days | 68.3% |
| Realized volatility, 60 trading days | 107.6% |
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 RingMasterThe Volatility History guide
Volatility Weather
On 28 Sep 2026, CBRS's at the money IV runs from 78.3 percent at 4 days to 74.3 percent at 200 days.
| Days to expiry | At the money IV |
|---|---|
| 4 | 78.3% |
| 11 | 71.9% |
| 18 | 75.1% |
| 25 | 67.8% |
| 39 | 74.2% |
| 53 | 75.9% |
| 109 | 72.4% |
| 200 | 74.3% |
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.
Open Volatility Weather in RingMasterThe Volatility Weather guide
Volatility Smile
On 28 Sep 2026, at the 32 day expiry, CBRS's IV ten percent below the price sits 2.1 points below at the money IV.
| Strike area | Implied volatility | Against at the money |
|---|---|---|
| 10% below the price | 68.0% | -2.1 points |
| At the money | 70.1% | 0.0 points |
| 10% above the price | 74.7% | +4.6 points |
From the option chain at the close on 28 Sep 2026. Current on every plan.
Open Volatility Smile in RingMasterThe Volatility Smile guide
Volatility Surface
On 28 Sep 2026, CBRS's surface spans 10 expiries out to 200 days, with IV from 63.7 to 79.6 percent near the price.
| Figure | Value |
|---|---|
| Expiries captured | 10 |
| 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 | 97 |
| Lowest IV among them | 63.7% |
| Highest IV among them | 79.6% |
From the option chain at the close on 28 Sep 2026. Current on every plan.
Open Volatility Surface in RingMasterThe Volatility Surface guide
Expiry Ladder
On 28 Sep 2026, CBRS has 10 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 | 78.3% | 16,434 | 5,355 |
| 9 Oct 2026 | 11 | 71.9% | 1,689 | 1,743 |
| 16 Oct 2026 | 18 | 75.1% | 15,392 | 19,582 |
| 23 Oct 2026 | 25 | 67.8% | 784 | 1,598 |
| 30 Oct 2026 | 32 | 70.1% | 740 | 1,034 |
| 6 Nov 2026 | 39 | 74.2% | 41 | 172 |
| 20 Nov 2026 | 53 | 75.9% | 12,839 | 8,736 |
| 15 Jan 2027 | 109 | 72.4% | 14,986 | 11,487 |
| 19 Mar 2027 | 172 | 75.0% | 3,114 | 2,680 |
| 16 Apr 2027 | 200 | 74.3% | 461 | 927 |
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.
Strike Table
On 28 Sep 2026, CBRS's largest open interest sits at the 250 strike, with 9,795 contracts across the captured expiries.
| Strike | Call open interest | Put open interest | Total |
|---|---|---|---|
| 250 | 7,168 | 2,627 | 9,795 |
| 210 | 7,475 | 2,251 | 9,726 |
| 200 | 4,787 | 3,333 | 8,120 |
| 220 | 6,102 | 1,298 | 7,400 |
| 180 | 1,587 | 3,703 | 5,290 |
| 170 | 501 | 4,756 | 5,257 |
From the option chain at the close on 28 Sep 2026. Current on every plan.
Since Yesterday
From 25 Sep 2026 to 28 Sep 2026, CBRS's at the money IV moved from 69.1 percent to 70.1 percent.
| Figure | 25 Sep | 28 Sep | Change |
|---|---|---|---|
| At the money IV | 69.1% | 70.1% | +1.0 points |
| Open interest, strikes captured near the price | 109,261 | 119,794 | +10,533 |
| Put/call ratio, open interest | 0.85 | 0.80 | -0.05 |
Open interest changes cannot identify buyers or sellers.
From the option chain at the close on 28 Sep 2026. Current on every plan.
Changed Hands
On 28 Sep 2026, 27,027 CBRS option contracts traded, 1.1 times its own recent average.
| Figure | Value |
|---|---|
| Calls traded | 19,050 |
| Puts traded | 7,977 |
| Against its recent average | 1.1 times |
| Open interest, whole chain | 198,436 contracts |
| Volume to open interest | 0.14 |
| Unusual volume flag | Yes, 3 contracts traded well above open interest |
| Largest flagged contract | The 200 call expiring 2 Oct, 2,454 traded against 809 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.
Positioning Replay
The replay holds 3 trading days of CBRS's option positioning, from 24 Sep 2026 to 28 Sep 2026.
| Date | Close | Net dollar gamma | Top call strike | Top put strike |
|---|---|---|---|---|
| 24 Sep 2026 | 206.41 | $16.13 million | 210 | 200 |
| 28 Sep 2026 | 196.74 | $6.1 million | 210 | 200 |
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.
Open Positioning Replay in RingMasterThe Positioning Replay guide
Public Filings
1 of the 10 fund managers the desk tracks list CBRS among the top holdings of their latest quarterly report.
| Fund manager |
|---|
| Tiger Global |
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.
Headlines
The desk's news feeds carried 4 headlines naming CBRS 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.
Questions
- What is CBRS's IV rank?
- CBRS's at the money implied volatility is 70.1 percent on 28 Sep 2026.
- What move are CBRS options pricing?
- On 28 Sep 2026, CBRS options priced a move of 20.1 percent down and 23.0 percent up by 30 Oct 2026.
- Where are CBRS's call wall and put wall?
- On 28 Sep 2026, CBRS's call wall is the 210 strike and its put wall is the 200 strike.
Guides and the full list
- Every covered stock, fund and index, A to Z
- Reading the options suite
- Options for beginners
- How Trade Cards work
- Words the desk uses
Membership gets tonight's signals the night they publish. Free gets every options screen, never delayed, and the signals one trading day behind.