Consumer Staples

Campbell Soup Co (CPB) options and signal

Figures as of 28 Sep 2026

CPB is Campbell Soup Co, a Consumer Staples 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	98 of 100	28 Sep
At the money IV	39.7%	28 Sep
Priced move to 30 Oct	14.5% down, 9.5% up	28 Sep
Call wall and put wall	25 and 20	28 Sep
Signal and the desk's view	No signal, view bullish	25 Sep
Last close	20.04	28 Sep

Options Snapshot

CPB's IV rank is 98 of 100 on 28 Sep 2026.

Figure	Value
IV rank	98 of 100
At the money IV	39.7%, near month, 32 days
Put/call ratio, open interest	0.97
Call open interest, strikes captured near the price	54,400 contracts
Put open interest, strikes captured near the price	52,600 contracts
Cost to trade at the money	Wide, 42.6% of the option's mid price

IV rank is where the at the money IV sits among CPB'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, CPB options priced a move of 14.5 percent down and 9.5 percent up by 30 Oct 2026.

Expiry	Days	Down	Up	Range
2 Oct 2026	4	5.0%	3.0%	19.03 to 20.64
9 Oct 2026	11	7.1%	4.9%	18.62 to 21.01
23 Oct 2026	25	10.3%	7.4%	17.98 to 21.52
30 Oct 2026	32	14.5%	9.5%	17.13 to 21.94
20 Nov 2026	53	13.2%	12.2%	17.39 to 22.49
18 Dec 2026	81	17.4%	16.1%	16.56 to 23.27
19 Feb 2027	144	27.3%	21.8%	14.56 to 24.41

The range is one standard deviation either side of the close of 20.04, 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, CPB's call wall is the 25 strike and its put wall is the 20 strike.

Figure	Value
Call wall, most open call gamma	25
Put wall, most open put gamma	20
Net dollar gamma, calls minus puts	minus $456,954
Total dollar gamma, both sides	$3.99 million
Close	20.04

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, CPB's at the money IV is 39.7 percent against 20 day realized volatility of 40.6 percent.

Figure	Value
At the money IV	39.7%
Realized volatility, 20 trading days	40.6%
Realized volatility, 60 trading days	35.7%
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	23.4% 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, CPB's at the money IV runs from 50.6 percent at 4 days to 36.3 percent at 144 days.

Days to expiry	At the money IV
4	50.6%
11	38.8%
18	38.5%
25	40.0%
39	36.8%
53	36.5%
81	38.2%
144	36.3%

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.

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Volatility Smile

On 28 Sep 2026, at the 32 day expiry, CPB's IV ten percent below the price sits 1.5 points above at the money IV.

Strike area	Implied volatility	Against at the money
10% below the price	41.2%	+1.5 points
At the money	39.7%	0.0 points
10% above the price	44.2%	+4.5 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, CPB's surface spans 10 expiries out to 144 days, with IV from 33.0 to 68.4 percent near the price.

Figure	Value
Expiries captured	10
Nearest expiry	2 Oct 2026, 4 days
Farthest expiry	19 Feb 2027, 144 days
Points within 10% of the price, 7 days out or more	53
Lowest IV among them	33.0%
Highest IV among them	68.4%

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, CPB has 10 captured expiries, from 2 Oct 2026 to 19 Feb 2027.

Expiry	Days	At the money IV	Call open interest	Put open interest
2 Oct 2026	4	50.6%	2,851	2,696
9 Oct 2026	11	38.8%	1,170	875
16 Oct 2026	18	38.5%	5,223	8,443
23 Oct 2026	25	40.0%	530	669
30 Oct 2026	32	39.7%	278	288
6 Nov 2026	39	36.8%	4	79
20 Nov 2026	53	36.5%	6,115	5,352
18 Dec 2026	81	38.2%	11,795	11,207
15 Jan 2027	109	36.0%	25,211	21,893
19 Feb 2027	144	36.3%	1,181	1,066

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, CPB's largest open interest sits at the 20 strike, with 21,816 contracts across the captured expiries.

Strike	Call open interest	Put open interest	Total
20	2,507	19,309	21,816
25	14,060	4,354	18,414
30	7,270	1,242	8,512
21	3,094	4,856	7,950
22	3,868	3,940	7,808
27	5,521	1,165	6,686

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, CPB's at the money IV moved from 39.1 percent to 39.7 percent.

Figure	25 Sep	28 Sep	Change
At the money IV	39.1%	39.7%	+0.7 points
Open interest, strikes captured near the price	110,993	106,926	-4,067
Put/call ratio, open interest	1.06	0.97	-0.09

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, 8,674 CPB option contracts traded, 1.1 times its own recent average.

Figure	Value
Calls traded	4,863
Puts traded	3,811
Against its recent average	1.1 times
Busier than	6 of its last 20 trading days
Open interest, whole chain	135,874 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 CPB'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	22.72	$1.78 million	25	20
21 Sep 2026	19.93	minus $1.05 million	21	20
28 Sep 2026	20.04	minus $456,954	25	20

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 CPB was bullish, paper trading.

Figure	Value
Side	Bullish at 45 trading days, no signal
Level above the close	20.69, the swing high of 8 Sep 2026
Level below the close	19.82, the swing low of 21 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.

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Rank by Timeframe

On 25 Sep 2026 CPB sat at the 66th percentile of the model's 45 trading day ranking, paper trading.

Timeframe	Percentile	Side
10 trading days	92 of 100	Bullish
20 trading days	81 of 100	Bullish
45 trading days	66 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, 2 of 3 timeframes put CPB on the bullish side, paper trading.

Group	Timeframes	Side	On that side
Near	10 day, 20 day	Bullish	2 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 CPB had carried no signal for at least 18 trading days, paper trading.

Trading day	Signal	45 day percentile
25 Sep 2026	None	66 of 100
24 Sep 2026	None	76 of 100
23 Sep 2026	None	69 of 100
22 Sep 2026	None	68 of 100
21 Sep 2026	None	66 of 100
18 Sep 2026	None	71 of 100
17 Sep 2026	None	38 of 100
16 Sep 2026	None	59 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, 9 of 50 Consumer Staples names were bullish and 22 were bearish, paper trading.

Sector	Names	Bullish	Bearish	Neutral
Consumer Staples	50	9	22	19

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

CPB closed at 20.04 on 28 Sep 2026.

Figure	Value
Last close	20.04
Change over 5 trading days	+0.6%
Change over 21 trading days	-13.9%
Change over 63 trading days	-12.9%
Change over 252 trading days	-37.8%
52 week high	32.72
52 week low	19.26
20 day moving average	21.29
50 day moving average	22.20
200 day moving average	23.39
RSI, 14 days	37

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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Company Events

CPB filed 1 current report in the 14 days to 28 Sep 2026, the latest on 17 Sep 2026.

Filed	Report	What it covers
17 Sep 2026	Current report	Entry into a Material Definitive Agreement

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

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Short Volume

On 25 Sep 2026, 43.7 percent of CPB's reported volume at the covered venues was marked short.

Figure	Value
Short sale share, 25 Sep	43.7%
Five day average	44.4%
52 week median	61.4%
Short interest, share of shares outstanding	12.9% at the 15 Sep 2026 settlement
Days to cover	3.5

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, CPB's average change was minus 0.3 percent, and it rose in 44.4 percent of them.

Month	Average change	Middle change	Share of years up	Years
September	-0.3%	-0.8%	44.4%	36
October	+2.0%	+1.5%	63.9%	36
November	+2.9%	+3.1%	75.0%	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 1 headline naming CPB in the 3 days to 28 Sep 2026.

Figure	Value
Headlines in the window	1
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 CPB's IV rank?: CPB's IV rank is 98 of 100 on 28 Sep 2026.
What move are CPB options pricing?: On 28 Sep 2026, CPB options priced a move of 14.5 percent down and 9.5 percent up by 30 Oct 2026.
Where are CPB's call wall and put wall?: On 28 Sep 2026, CPB's call wall is the 25 strike and its put wall is the 20 strike.
What was the desk's latest view of CPB on the Free plan?: On 25 Sep 2026 the desk's view of CPB was bullish, paper trading.

More Consumer Staples names

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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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