Financials

Capital One Financial Corp (COF) options and signal

Figures as of 28 Sep 2026

COF is Capital One Financial Corp, 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	85 of 100	28 Sep
At the money IV	39.8%	28 Sep
Priced move to 30 Oct	12.2% down, 12.2% up	28 Sep
Call wall and put wall	210 and 200	28 Sep
Signal and the desk's view	No signal, view neutral	25 Sep
Last close	196.46	28 Sep
Next report	20 Oct 2026	28 Sep

Options Snapshot

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

Figure	Value
IV rank	85 of 100
At the money IV	39.8%, near month, 32 days
Put/call ratio, open interest	0.69
Call open interest, strikes captured near the price	62,800 contracts
Put open interest, strikes captured near the price	43,100 contracts
Cost to trade at the money	Fair, 23.6% of the option's mid price

IV rank is where the at the money IV sits among COF'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, COF options priced a move of 12.2 percent down and 12.2 percent up by 30 Oct 2026.

Expiry	Days	Down	Up	Range
2 Oct 2026	4	4.2%	3.7%	188.25 to 203.66
9 Oct 2026	11	5.9%	7.2%	184.96 to 210.66
23 Oct 2026	25	10.1%	10.0%	176.66 to 216.16
30 Oct 2026	32	12.2%	12.2%	172.46 to 220.36
20 Nov 2026	53	13.3%	13.1%	170.26 to 222.26
18 Dec 2026	81	15.2%	15.6%	166.56 to 227.16
19 Mar 2027	172	22.1%	23.6%	153.06 to 242.76

The range is one standard deviation either side of the close of 196.46, 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, COF'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
Flip strike, where net gamma changes sign	198.12
Net dollar gamma, calls minus puts	$11.94 million
Total dollar gamma, both sides	$50.3 million
Close	196.46

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.

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Volatility History

On 28 Sep 2026, COF's at the money IV is 39.8 percent against 20 day realized volatility of 23.7 percent.

Figure	Value
At the money IV	39.8%
Realized volatility, 20 trading days	23.7%
Realized volatility, 60 trading days	28.3%
IV against its own weekly record	High, in the top fifth
Weekly readings on record	865, from 8 Jan 2010
Weeks the price moved more than the one week priced move	25.8% of 252 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.

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Volatility Weather

On 28 Sep 2026, COF's at the money IV runs from 34.6 percent at 4 days to 33.5 percent at 172 days.

Days to expiry	At the money IV
4	34.6%
11	37.4%
18	34.9%
25	37.8%
39	35.7%
53	34.3%
81	32.9%
172	33.5%

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 32 day expiry, COF's IV ten percent below the price sits 3.7 points above at the money IV.

Strike area	Implied volatility	Against at the money
10% below the price	43.5%	+3.7 points
At the money	39.8%	0.0 points
10% above the price	40.9%	+1.1 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, COF's surface spans 10 expiries out to 172 days, with IV from 31.7 to 47.2 percent near the price.

Figure	Value
Expiries captured	10
Nearest expiry	2 Oct 2026, 4 days
Farthest expiry	19 Mar 2027, 172 days
Points within 10% of the price, 7 days out or more	75
Lowest IV among them	31.7%
Highest IV among them	47.2%

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, COF has 10 captured expiries, from 2 Oct 2026 to 19 Mar 2027.

Expiry	Days	At the money IV	Call open interest	Put open interest
2 Oct 2026	4	34.6%	4,833	1,697
9 Oct 2026	11	37.4%	1,341	880
16 Oct 2026	18	34.9%	25,320	3,990
23 Oct 2026	25	37.8%	1,292	959
30 Oct 2026	32	39.8%	212	128
6 Nov 2026	39	35.7%	9	7
20 Nov 2026	53	34.3%	1,018	1,307
18 Dec 2026	81	32.9%	5,848	9,221
15 Jan 2027	109	32.7%	18,268	17,485
19 Mar 2027	172	33.5%	4,679	7,446

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, COF's largest open interest sits at the 220 strike, with 20,860 contracts across the captured expiries.

Strike	Call open interest	Put open interest	Total
220	17,106	3,754	20,860
210	14,371	3,200	17,571
200	4,278	5,905	10,183
230	5,968	1,387	7,355
195	981	3,472	4,453
190	780	3,455	4,235

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, COF's at the money IV moved from 36.9 percent to 39.8 percent.

Figure	25 Sep	28 Sep	Change
At the money IV	36.9%	39.8%	+2.9 points
Open interest, strikes captured near the price	103,858	105,940	+2,082
Put/call ratio, open interest	0.68	0.69	+0.01

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, 5,231 COF option contracts traded, 0.4 times its own recent average.

Figure	Value
Calls traded	2,009
Puts traded	3,222
Against its recent average	0.4 times
Busier than	0 of its last 20 trading days
Open interest, whole chain	124,778 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 COF'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	219.15	$36.96 million	220	195
21 Sep 2026	204.92	minus $2.52 million	220	200
28 Sep 2026	196.46	$11.94 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.

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Read-out

On 25 Sep 2026 the desk's view of COF was neutral, paper trading.

Figure	Value
Side	Neutral at 45 trading days, no signal
Level above the close	205.30, the swing high of 10 Sep 2026
Level below the close	193.71, the swing low of 24 Sep 2026
Strategy family	Iron condor (sell both sides, defined risk)
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 COF sat at the 56th percentile of the model's 45 trading day ranking, paper trading.

Timeframe	Percentile	Side
10 trading days	12 of 100	Bearish
20 trading days	60 of 100	Neutral
45 trading days	56 of 100	Neutral

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 COF's near timeframes were bearish and its long timeframe was neutral, paper trading.

Group	Timeframes	Side	On that side
Near	10 day, 20 day	Bearish	1 of 2
Long	45 day	Neutral	0 of 1

Paper trading. The model's figures from 25 Sep 2026, one trading day behind, as the Free plan shows them.

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Signal History

On 25 Sep 2026 COF had carried no signal for at least 18 trading days, paper trading.

Trading day	Signal	45 day percentile
25 Sep 2026	None	56 of 100
24 Sep 2026	None	58 of 100
23 Sep 2026	None	63 of 100
22 Sep 2026	None	62 of 100
21 Sep 2026	None	35 of 100
18 Sep 2026	None	56 of 100
17 Sep 2026	None	52 of 100
16 Sep 2026	None	51 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

COF closed at 196.46 on 28 Sep 2026.

Figure	Value
Last close	196.46
Change over 5 trading days	-4.1%
Change over 21 trading days	-9.3%
Change over 63 trading days	-2.9%
Change over 252 trading days	-11.7%
52 week high	259.64
52 week low	174.24
20 day moving average	206.94
50 day moving average	211.80
200 day moving average	206.53
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

COF reports next on 20 Oct 2026, a date confirmed by the company.

Figure	Value
Next report	20 Oct 2026, after the close
Date	Confirmed by the company
Move after the report of 21 Jul 2026	-2.4%
Move after the report of 21 Apr 2026	-1.5%
Move after the report of 22 Jan 2026	-7.6%
Move after the report of 21 Oct 2025	+1.5%

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

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Company Events

COF filed 3 current reports 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
15 Sep 2026	Current report	Regulation FD Disclosure
15 Sep 2026	Current report	Other Events

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

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Short Volume

On 25 Sep 2026, 13.9 percent of COF's reported volume at the covered venues was marked short.

Figure	Value
Short sale share, 25 Sep	13.9%
Five day average	31.7%
52 week median	35.6%

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 31 Septembers on record, COF's average change was plus 1.9 percent, and it rose in 58.1 percent of them.

Month	Average change	Middle change	Share of years up	Years
September	+1.9%	+1.9%	58.1%	31
October	+1.0%	+1.4%	54.8%	31
November	+2.4%	+0.4%	51.6%	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 4 headlines naming COF 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.

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Questions

What is COF's IV rank?: COF's IV rank is 85 of 100 on 28 Sep 2026.
What move are COF options pricing?: On 28 Sep 2026, COF options priced a move of 12.2 percent down and 12.2 percent up by 30 Oct 2026.
Where are COF's call wall and put wall?: On 28 Sep 2026, COF's call wall is the 210 strike and its put wall is the 200 strike.
What was the desk's latest view of COF on the Free plan?: On 25 Sep 2026 the desk's view of COF was neutral, paper trading.
When does COF report earnings next?: COF reports next on 20 Oct 2026, a date confirmed by the company.

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