Information Technology

Duolingo, Inc. (DUOL) options and signal

Figures as of 28 Sep 2026

DUOL is Duolingo, Inc., 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.

Membership gets tonight's signals the night they publish. Free gets every options screen, never delayed, and the signals one trading day behind.

Start free See the plans

At a glance

Figure	Value	Date
IV rank	26 of 100	28 Sep
At the money IV	56.3%	28 Sep
Priced move to 30 Oct	16.0% down, 18.2% up	28 Sep
Call wall and put wall	150 and 140	28 Sep
Signal and the desk's view	No signal, view neutral	25 Sep
Last close	134.30	28 Sep
Next report	4 Nov 2026	28 Sep

Options Snapshot

DUOL's IV rank is 26 of 100 on 28 Sep 2026.

Figure	Value
IV rank	26 of 100
At the money IV	56.3%, near month, 32 days
Put/call ratio, open interest	1.11
Call open interest, strikes captured near the price	15,000 contracts
Put open interest, strikes captured near the price	16,700 contracts
Cost to trade at the money	Wide, 55.0% of the option's mid price

IV rank is where the at the money IV sits among DUOL'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.

Open Options Snapshot in RingMaster The Options Snapshot guide

Priced Range

On 28 Sep 2026, DUOL options priced a move of 16.0 percent down and 18.2 percent up by 30 Oct 2026.

Expiry	Days	Down	Up	Range
2 Oct 2026	4	6.2%	6.7%	126.01 to 143.36
9 Oct 2026	11	9.6%	11.1%	121.40 to 149.20
16 Oct 2026	18	12.1%	11.6%	118.10 to 149.90
30 Oct 2026	32	16.0%	18.2%	112.80 to 158.70
6 Nov 2026	39	21.4%	23.1%	105.60 to 165.30
20 Nov 2026	53	27.0%	28.1%	98.00 to 172.00
19 Feb 2027	144	37.2%	40.7%	84.30 to 188.90

The range is one standard deviation either side of the close of 134.30, 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.

Open Priced Range in RingMaster The Priced Range guide

Gamma Map

On 28 Sep 2026, DUOL's call wall is the 150 strike and its put wall is the 140 strike.

Figure	Value
Call wall, most open call gamma	150
Put wall, most open put gamma	140
Net dollar gamma, calls minus puts	minus $806,192
Total dollar gamma, both sides	$4.9 million
Close	134.30

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 3 strikes, so no single flip strike is named.

From the option chain at the close on 28 Sep 2026. Current on every plan.

Open Gamma Map in RingMaster The Gamma Map guide

Volatility History

On 28 Sep 2026, DUOL's at the money IV is 56.3 percent against 20 day realized volatility of 59.1 percent.

Figure	Value
At the money IV	56.3%
Realized volatility, 20 trading days	59.1%
Realized volatility, 60 trading days	63.9%
IV against its own weekly record	In the middle
Weekly readings on record	239, from 17 Sep 2021
Weeks the price moved more than the one week priced move	28.0% 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.

Open Volatility History in RingMaster The Volatility History guide

Volatility Weather

On 28 Sep 2026, DUOL's at the money IV runs from 57.4 percent at 4 days to 62.0 percent at 144 days.

Days to expiry	At the money IV
4	57.4%
11	57.2%
18	54.5%
25	52.9%
32	56.3%
39	65.3%
53	68.8%
144	62.0%

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.

Open Volatility Weather in RingMaster The Volatility Weather guide

Volatility Smile

On 28 Sep 2026, at the 32 day expiry, DUOL's IV ten percent below the price sits 4.2 points below at the money IV.

Strike area	Implied volatility	Against at the money
10% below the price	52.1%	-4.2 points
At the money	56.3%	0.0 points
10% above the price	56.1%	-0.1 points

From the option chain at the close on 28 Sep 2026. Current on every plan.

Open Volatility Smile in RingMaster The Volatility Smile guide

Volatility Surface

On 28 Sep 2026, DUOL's surface spans 9 expiries out to 144 days, with IV from 50.6 to 71.7 percent near the price.

Figure	Value
Expiries captured	9
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	105
Lowest IV among them	50.6%
Highest IV among them	71.7%

From the option chain at the close on 28 Sep 2026. Current on every plan.

Open Volatility Surface in RingMaster The Volatility Surface guide

Expiry Ladder

On 28 Sep 2026, DUOL has 9 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	57.4%	788	776
9 Oct 2026	11	57.2%	486	308
16 Oct 2026	18	54.5%	1,342	2,354
23 Oct 2026	25	52.9%	196	412
30 Oct 2026	32	56.3%	272	212
6 Nov 2026	39	65.3%	27	34
20 Nov 2026	53	68.8%	4,861	2,868
15 Jan 2027	109	62.3%	6,278	7,757
19 Feb 2027	144	62.0%	733	2,000

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.

Open Expiry Ladder in RingMaster The Expiry Ladder guide

Strike Table

On 28 Sep 2026, DUOL's largest open interest sits at the 150 strike, with 2,311 contracts across the captured expiries.

Strike	Call open interest	Put open interest	Total
150	1,802	509	2,311
140	449	1,848	2,297
95	78	1,922	2,000
200	1,877	121	1,998
135	622	1,044	1,666
100	380	1,140	1,520

From the option chain at the close on 28 Sep 2026. Current on every plan.

Open Strike Table in RingMaster The Strike Table guide

Since Yesterday

From 25 Sep 2026 to 28 Sep 2026, DUOL's at the money IV moved from 55.7 percent to 56.3 percent.

Figure	25 Sep	28 Sep	Change
At the money IV	55.7%	56.3%	+0.6 points
Open interest, strikes captured near the price	31,755	31,704	-51
Put/call ratio, open interest	1.02	1.12	+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.

Open Since Yesterday in RingMaster The Since Yesterday guide

Changed Hands

On 28 Sep 2026, 4,217 DUOL option contracts traded, 1.1 times its own recent average.

Figure	Value
Calls traded	2,273
Puts traded	1,944
Against its recent average	1.1 times
Busier than	9 of its last 20 trading days
Open interest, whole chain	45,994 contracts
Volume to open interest	0.09
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.

Open Changed Hands in RingMaster The Changed Hands guide

Positioning Replay

The replay holds 33 trading days of DUOL'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	135.44	$1.61 million	130	130
21 Sep 2026	149.42	minus $110,715	150	140
28 Sep 2026	134.30	minus $806,192	150	140

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 RingMaster The Positioning Replay guide

Read-out

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

Figure	Value
Side	Neutral at 45 trading days, no signal
Level above the close	137.30, the swing high of 10 Sep 2026
Level below the close	112.02, the swing low of 6 Aug 2026
Strategy family	Long straddle (buy a call and a put at the same strike)
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.

Open Read-out in RingMaster The Read-out guide

Rank by Timeframe

On 25 Sep 2026 DUOL sat at the 58th percentile of the model's 45 trading day ranking, paper trading.

Timeframe	Percentile	Side
10 trading days	72 of 100	Neutral
20 trading days	76 of 100	Neutral
45 trading days	58 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.

Open Rank by Timeframe in RingMaster The Rank by Timeframe guide

Timeframe Agreement

On 25 Sep 2026 DUOL's near timeframes were neutral and its long timeframe was neutral, paper trading.

Group	Timeframes	Side	On that side
Near	10 day, 20 day	Neutral	0 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.

Open Timeframe Agreement in RingMaster The Timeframe Agreement guide

Signal History

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

Trading day	Signal	45 day percentile
25 Sep 2026	None	58 of 100
24 Sep 2026	None	43 of 100
23 Sep 2026	None	37 of 100
22 Sep 2026	None	58 of 100
21 Sep 2026	None	52 of 100
18 Sep 2026	None	47 of 100
17 Sep 2026	None	67 of 100
16 Sep 2026	None	53 of 100

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

Open Signal History in RingMaster The Signal History guide

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.

Open Sector Split in RingMaster The Sector Split guide

Price Chart

DUOL closed at 134.30 on 28 Sep 2026.

Figure	Value
Last close	134.30
Change over 5 trading days	-10.1%
Change over 21 trading days	-6.0%
Change over 63 trading days	+15.7%
Change over 252 trading days	-57.2%
52 week high	353.00
52 week low	87.89
20 day moving average	148.18
50 day moving average	140.92
200 day moving average	128.40
RSI, 14 days	41

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.

Open Price Chart in RingMaster The Price Chart guide

Earnings Radar

DUOL 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 5 Aug 2026	-9.4%
Move after the report of 5 May 2026	-5.6%
Move after the report of 27 Feb 2026	-14.0%
Move after the report of 5 Nov 2025	-25.5%

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

Open Earnings Radar in RingMaster The Earnings Radar guide

Seasonality

In the 5 Septembers on record, DUOL's average change was plus 16.6 percent, and it rose in 100.0 percent of them.

Month	Average change	Middle change	Share of years up	Years
September	+16.6%	+12.7%	100.0%	5
October	-6.7%	-11.9%	40.0%	5
November	-3.3%	-14.9%	40.0%	5

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.

Open Seasonality in RingMaster The Seasonality guide

Questions

What is DUOL's IV rank?: DUOL's IV rank is 26 of 100 on 28 Sep 2026.
What move are DUOL options pricing?: On 28 Sep 2026, DUOL options priced a move of 16.0 percent down and 18.2 percent up by 30 Oct 2026.
Where are DUOL's call wall and put wall?: On 28 Sep 2026, DUOL's call wall is the 150 strike and its put wall is the 140 strike.
What was the desk's latest view of DUOL on the Free plan?: On 25 Sep 2026 the desk's view of DUOL was neutral, paper trading.
When does DUOL report earnings next?: DUOL reports next on 4 Nov 2026, a date confirmed by the company.

More Information Technology names

Guides and the full list

Membership gets tonight's signals the night they publish. Free gets every options screen, never delayed, and the signals one trading day behind.

Start free See the plans