Industrials

Carpenter Technology Corporation (CRS) options and signal

Figures as of 28 Sep 2026

CRS is Carpenter Technology Corporation, an Industrials 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	63 of 100	28 Sep
At the money IV	50.1%	28 Sep
Priced move to 16 Oct	11.2% down, 11.5% up	28 Sep
Call wall and put wall	460 and 380	28 Sep
Signal and the desk's view	No signal, view neutral	25 Sep
Last close	385.30	28 Sep
Next report	22 Oct 2026	28 Sep

Options Snapshot

CRS's IV rank is 63 of 100 on 28 Sep 2026.

Figure	Value
IV rank	63 of 100
At the money IV	50.1%, near month, 18 days
Put/call ratio, open interest	0.62
Call open interest, strikes captured near the price	3,580 contracts
Put open interest, strikes captured near the price	2,230 contracts
Cost to trade at the money	Fair, 21.3% of the option's mid price

IV rank is where the at the money IV sits among CRS'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, CRS options priced a move of 11.2 percent down and 11.5 percent up by 16 Oct 2026.

Expiry	Days	Down	Up	Range
16 Oct 2026	18	11.2%	11.5%	342.00 to 429.70
20 Nov 2026	53	20.6%	19.6%	305.90 to 460.70
18 Dec 2026	81	24.2%	24.7%	292.20 to 480.40
15 Jan 2027	109	27.3%	28.3%	280.30 to 494.30
19 Mar 2027	172	34.0%	35.8%	254.30 to 523.30

The range is one standard deviation either side of the close of 385.30, 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, CRS's call wall is the 460 strike and its put wall is the 380 strike.

Figure	Value
Call wall, most open call gamma	460
Put wall, most open put gamma	380
Net dollar gamma, calls minus puts	$218,721
Total dollar gamma, both sides	$2.78 million
Close	385.30

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 7 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, CRS's at the money IV is 50.1 percent against 20 day realized volatility of 27.3 percent.

Figure	Value
At the money IV	50.1%
Realized volatility, 20 trading days	27.3%
Realized volatility, 60 trading days	40.9%
IV against its own weekly record	In the middle
Weekly readings on record	837, from 8 Jan 2010
Weeks the price moved more than the one week priced move	26.7% 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.

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Volatility Weather

On 28 Sep 2026, CRS's at the money IV runs from 50.1 percent at 18 days to 49.5 percent at 172 days.

Days to expiry	At the money IV
18	50.1%
53	52.3%
81	50.3%
109	50.0%
172	49.5%

Near and far expiries price about the same volatility, a flat 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, CRS's IV ten percent below the price sits 1.2 points below at the money IV.

Strike area	Implied volatility	Against at the money
10% below the price	51.1%	-1.2 points
At the money	52.3%	0.0 points
10% above the price	53.5%	+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, CRS's surface spans 5 expiries out to 172 days, with IV from 48.4 to 193.8 percent near the price.

Figure	Value
Expiries captured	5
Nearest expiry	16 Oct 2026, 18 days
Farthest expiry	19 Mar 2027, 172 days
Points within 10% of the price, 7 days out or more	40
Lowest IV among them	48.4%
Highest IV among them	193.8%

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, CRS has 5 captured expiries, from 16 Oct 2026 to 19 Mar 2027.

Expiry	Days	At the money IV	Call open interest	Put open interest
16 Oct 2026	18	50.1%	1,298	654
20 Nov 2026	53	52.3%	58	88
18 Dec 2026	81	50.3%	1,007	872
15 Jan 2027	109	50.0%	901	389
19 Mar 2027	172	49.5%	314	223

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, CRS's largest open interest sits at the 460 strike, with 782 contracts across the captured expiries.

Strike	Call open interest	Put open interest	Total
460	719	63	782
430	217	76	293
480	207	68	275
470	177	79	256
300	184	64	248
500	219	24	243

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, CRS's at the money IV moved from 48.2 percent to 50.1 percent.

Figure	25 Sep	28 Sep	Change
At the money IV	48.2%	50.1%	+1.9 points
Open interest, strikes captured near the price	6,274	5,804	-470
Put/call ratio, open interest	0.52	0.62	+0.10

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, 1,940 CRS option contracts traded, 1.1 times its own recent average.

Figure	Value
Calls traded	1,170
Puts traded	770
Against its recent average	1.1 times
Busier than	11 of its last 20 trading days
Open interest, whole chain	7,271 contracts
Volume to open interest	0.27
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 CRS'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	537.57	minus $1.36 million	550	540
21 Sep 2026	402.90	$296,962	460	380
28 Sep 2026	385.30	$218,721	460	380

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 CRS was neutral, paper trading.

Figure	Value
Side	Neutral at 45 trading days, no signal
Level above the close	395.00, the swing high of 17 Sep 2026
Level below the close	382.11, the swing low of 28 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 CRS sat at the 55th percentile of the model's 45 trading day ranking, paper trading.

Timeframe	Percentile	Side
10 trading days	92 of 100	Bullish
20 trading days	90 of 100	Bullish
45 trading days	55 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 CRS's near timeframes were bullish and its long timeframe was neutral, 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 CRS had carried no signal for at least 18 trading days, paper trading.

Trading day	Signal	45 day percentile
25 Sep 2026	None	55 of 100
24 Sep 2026	None	40 of 100
23 Sep 2026	None	28 of 100
22 Sep 2026	None	39 of 100
21 Sep 2026	None	72 of 100
18 Sep 2026	None	36 of 100
17 Sep 2026	None	59 of 100
16 Sep 2026	None	34 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, 51 of 147 Industrials names were bullish and 37 were bearish, paper trading.

Sector	Names	Bullish	Bearish	Neutral
Industrials	147	51	37	59

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

CRS closed at 385.30 on 28 Sep 2026.

Figure	Value
Last close	385.30
Change over 5 trading days	-4.4%
Change over 21 trading days	-21.5%
Change over 63 trading days	-36.5%
Change over 252 trading days	+65.8%
52 week high	625.99
52 week low	233.78
20 day moving average	430.25
50 day moving average	494.69
200 day moving average	440.01
RSI, 14 days	22

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

CRS reports next on 22 Oct 2026, a date worked out from past quarters.

Figure	Value
Next report	22 Oct 2026, before the open
Date	Worked out from past quarters
Move after the report of 30 Jul 2026	-5.1%
Move after the report of 29 Apr 2026	-5.0%
Move after the report of 29 Jan 2026	-6.4%
Move after the report of 23 Oct 2025	+22.7%

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

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Public Filings

1 of the 10 fund managers the desk tracks list CRS among the top holdings of their latest quarterly report.

Fund manager
Third Point

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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Seasonality

In the 36 Septembers on record, CRS's average change was minus 0.7 percent, and it rose in 63.9 percent of them.

Month	Average change	Middle change	Share of years up	Years
September	-0.7%	+2.3%	63.9%	36
October	-0.8%	-2.3%	36.1%	36
November	+6.8%	+5.2%	72.2%	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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Questions

What is CRS's IV rank?: CRS's IV rank is 63 of 100 on 28 Sep 2026.
What move are CRS options pricing?: On 28 Sep 2026, CRS options priced a move of 11.2 percent down and 11.5 percent up by 16 Oct 2026.
Where are CRS's call wall and put wall?: On 28 Sep 2026, CRS's call wall is the 460 strike and its put wall is the 380 strike.
What was the desk's latest view of CRS on the Free plan?: On 25 Sep 2026 the desk's view of CRS was neutral, paper trading.
When does CRS report earnings next?: CRS reports next on 22 Oct 2026, a date worked out from past quarters.

More Industrials names

Guides and the full list

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Strike	Call open interest	Put open interest	Total
460	719	63	782
430	217	76	293
480	207	68	275
470	177	79	256
300	184	64	248
500	219	24	243

Strike	Call open interest	Put open interest	Total
460	719	63	782
430	217	76	293
480	207	68	275
470	177	79	256
300	184	64	248
500	219	24	243

Strike	Call open interest	Put open interest	Total
460	719	63	782
430	217	76	293
480	207	68	275
470	177	79	256
300	184	64	248
500	219	24	243