Information Technology

Coherent Corp (COHR) options and signal

Figures as of 28 Sep 2026

COHR is Coherent Corp, an Information Technology 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	Bear call spread, 18 Dec	25 Sep
IV rank	90 of 100	28 Sep
At the money IV	70.0%	28 Sep
Priced move to 30 Oct	19.9% down, 21.0% up	28 Sep
Call wall and put wall	310 and 270	28 Sep
Signal and the desk's view	No signal, view bearish	25 Sep
Last close	282.45	28 Sep
Next report	4 Nov 2026	28 Sep

Trade Cards

On 25 Sep 2026 the Trade Card for COHR was a bear call spread expiring 18 Dec 2026, paper trading.

Figure	Value
Signal	Neutral
Strategy	Bear call spread, credit
Legs	Sell the 360 call, Buy the 440 call
Expiry	18 Dec 2026, 84 days to expiry
Limit	A credit of at least $13.30
Probability of profit	69%, the option market's odds at expiry, from delta
Max loss	$6,670 per contract
Max profit	$1,330 per contract
Breakeven	373.30
IV rank at that expiry	93 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

COHR's IV rank is 90 of 100 on 28 Sep 2026.

Figure	Value
IV rank	90 of 100
At the money IV	70.0%, near month, 32 days
Put/call ratio, open interest	1.68
Call open interest, strikes captured near the price	58,700 contracts
Put open interest, strikes captured near the price	98,800 contracts
Cost to trade at the money	Fair, 16.9% of the option's mid price

IV rank is where the at the money IV sits among COHR'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, COHR options priced a move of 19.9 percent down and 21.0 percent up by 30 Oct 2026.

Expiry	Days	Down	Up	Range
2 Oct 2026	4	7.4%	7.3%	261.55 to 303.15
9 Oct 2026	11	11.3%	12.8%	250.45 to 318.55
23 Oct 2026	25	18.6%	18.5%	229.95 to 334.75
30 Oct 2026	32	19.9%	21.0%	226.25 to 341.75
20 Nov 2026	53	27.9%	29.0%	203.55 to 364.45
18 Dec 2026	81	33.5%	36.1%	187.85 to 384.45
19 Mar 2027	172	47.8%	52.0%	147.45 to 429.45

The range is one standard deviation either side of the close of 282.45, 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, COHR's call wall is the 310 strike and its put wall is the 270 strike.

Figure	Value
Call wall, most open call gamma	310
Put wall, most open put gamma	270
Net dollar gamma, calls minus puts	minus $15.16 million
Total dollar gamma, both sides	$58.37 million
Close	282.45

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 4 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, COHR's at the money IV is 70.0 percent against 20 day realized volatility of 79.1 percent.

Figure	Value
At the money IV	70.0%
Realized volatility, 20 trading days	79.1%
Realized volatility, 60 trading days	100.3%
IV against its own weekly record	High, in the top fifth
Weekly readings on record	843, from 8 Jan 2010
Weeks the price moved more than the one week priced move	37.8% of 241 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, COHR's at the money IV runs from 70.2 percent at 4 days to 72.8 percent at 172 days.

Days to expiry	At the money IV
4	70.2%
11	70.8%
18	68.6%
25	70.5%
39	74.8%
53	74.6%
81	72.5%
172	72.8%

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 32 day expiry, COHR's IV ten percent below the price sits 1.9 points below at the money IV.

Strike area	Implied volatility	Against at the money
10% below the price	68.1%	-1.9 points
At the money	70.0%	0.0 points
10% above the price	70.6%	+0.6 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, COHR's surface spans 10 expiries out to 172 days, with IV from 64.6 to 76.3 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	95
Lowest IV among them	64.6%
Highest IV among them	76.3%

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, COHR 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	70.2%	7,927	9,295
9 Oct 2026	11	70.8%	3,044	2,972
16 Oct 2026	18	68.6%	8,836	21,284
23 Oct 2026	25	70.5%	1,441	4,068
30 Oct 2026	32	70.0%	912	2,547
6 Nov 2026	39	74.8%	63	103
20 Nov 2026	53	74.6%	12,244	18,553
18 Dec 2026	81	72.5%	1,367	4,086
15 Jan 2027	109	71.2%	16,136	22,156
19 Mar 2027	172	72.8%	6,779	13,774

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, COHR's largest open interest sits at the 300 strike, with 11,074 contracts across the captured expiries.

Strike	Call open interest	Put open interest	Total
300	4,659	6,415	11,074
270	2,594	8,012	10,606
250	1,028	7,803	8,831
240	574	7,460	8,034
200	660	6,991	7,651
280	1,435	5,384	6,819

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, COHR's at the money IV moved from 68.2 percent to 70.0 percent.

Figure	25 Sep	28 Sep	Change
At the money IV	68.2%	70.0%	+1.7 points
Open interest, strikes captured near the price	153,494	157,587	+4,093
Put/call ratio, open interest	1.66	1.68	+0.02

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, 32,992 COHR option contracts traded, 1.2 times its own recent average.

Figure	Value
Calls traded	16,636
Puts traded	16,356
Against its recent average	1.2 times
Busier than	18 of its last 20 trading days
Open interest, whole chain	206,410 contracts
Volume to open interest	0.16
Unusual volume flag	Yes, 5 contracts traded well above open interest
Largest flagged contract	The 250 put expiring 2 Oct, 1,021 traded against 340 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 33 trading days of COHR'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	328.57	minus $2.35 million	350	300
21 Sep 2026	321.52	$12.01 million	320	300
28 Sep 2026	282.45	minus $15.16 million	310	270

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 COHR was bearish, paper trading.

Figure	Value
Side	Bearish at 45 trading days, no signal
Level above the close	315.70, the swing high of 8 Sep 2026, a close past it runs against the view
Level below the close	265.49, the swing low of 14 Sep 2026
The chart	Sits with the view
Strategy family	Bear call spread (sell a call spread above 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.

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Rank by Timeframe

On 25 Sep 2026 COHR sat at the 11th percentile of the model's 45 trading day ranking, paper trading.

Timeframe	Percentile	Side
10 trading days	25 of 100	Neutral
20 trading days	24 of 100	Neutral
45 trading days	11 of 100	Bearish

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 COHR on the bearish side, paper trading.

Group	Timeframes	Side	On that side
Near	10 day, 20 day	Neutral	0 of 2
Long	45 day	Bearish	1 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 COHR had carried no signal for 2 trading days, paper trading.

Trading day	Signal	45 day percentile
25 Sep 2026	None	11 of 100
24 Sep 2026	None	18 of 100
23 Sep 2026	Bearish	2 of 100
22 Sep 2026	None	5 of 100
21 Sep 2026	None	36 of 100
18 Sep 2026	None	53 of 100
17 Sep 2026	None	25 of 100
16 Sep 2026	None	9 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, 80 of 187 Information Technology names were bullish and 61 were bearish, paper trading.

Sector	Names	Bullish	Bearish	Neutral
Information Technology	187	80	61	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

COHR closed at 282.45 on 28 Sep 2026.

Figure	Value
Last close	282.45
Change over 5 trading days	-12.2%
Change over 21 trading days	-4.4%
Change over 63 trading days	-27.8%
Change over 252 trading days	+165.0%
52 week high	440.00
52 week low	104.78
20 day moving average	290.55
50 day moving average	296.86
200 day moving average	286.61
RSI, 14 days	46

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

COHR reports next on 4 Nov 2026, a date confirmed by the company.

Figure	Value
Next report	4 Nov 2026, after the close
Date	Confirmed by the company
Move after the report of 12 Aug 2026	-8.0%
Move after the report of 6 May 2026	-7.4%
Move after the report of 4 Feb 2026	-0.8%
Move after the report of 5 Nov 2025	+18.3%

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

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Public Filings

The filings the desk holds carry 1 recent trade in COHR shares.

Filed	Who	Trade	Size
10 Sep 2026	. Gilbert Cisneros, member of Congress	Sold	$1,001 to $15,000

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.

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Short Volume

On 25 Sep 2026, 53.3 percent of COHR's reported volume at the covered venues was marked short.

Figure	Value
Short sale share, 25 Sep	53.3%
Five day average	59.9%
52 week median	43.9%

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 36 Septembers on record, COHR's average change was minus 0.4 percent, and it rose in 41.7 percent of them.

Month	Average change	Middle change	Share of years up	Years
September	-0.4%	-3.5%	41.7%	36
October	+3.0%	+4.0%	66.7%	36
November	+4.9%	+3.5%	66.7%	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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Headlines

The desk's news feeds carried 4 headlines naming COHR 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 COHR's IV rank?: COHR's IV rank is 90 of 100 on 28 Sep 2026.
What move are COHR options pricing?: On 28 Sep 2026, COHR options priced a move of 19.9 percent down and 21.0 percent up by 30 Oct 2026.
Where are COHR's call wall and put wall?: On 28 Sep 2026, COHR's call wall is the 310 strike and its put wall is the 270 strike.
What was the latest Trade Card for COHR on the Free plan?: On 25 Sep 2026 the Trade Card for COHR was a bear call spread expiring 18 Dec 2026, paper trading.
When does COHR report earnings next?: COHR reports next on 4 Nov 2026, a date confirmed by the company.

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