Health Care

Edwards Lifesciences Corp (EW) options and signal

Figures as of 28 Sep 2026

EW is Edwards Lifesciences Corp, a Health Care 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	71 of 100	28 Sep
At the money IV	32.6%	28 Sep
Priced move to 16 Oct	7.0% down, 6.7% up	28 Sep
Call wall and put wall	90 and 77.5	28 Sep
Signal and the desk's view	No signal, view bullish	25 Sep
Last close	86.83	28 Sep
Next report	29 Oct 2026	28 Sep

Options Snapshot

EW's IV rank is 71 of 100 on 28 Sep 2026.

Figure	Value
IV rank	71 of 100
At the money IV	32.6%, near month, 18 days
Put/call ratio, open interest	1.01
Call open interest, strikes captured near the price	20,400 contracts
Put open interest, strikes captured near the price	20,700 contracts
Cost to trade at the money	Fair, 36.5% of the option's mid price

IV rank is where the at the money IV sits among EW'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, EW options priced a move of 7.0 percent down and 6.7 percent up by 16 Oct 2026.

Expiry	Days	Down	Up	Range
16 Oct 2026	18	7.0%	6.7%	80.76 to 92.61
20 Nov 2026	53	13.5%	15.0%	75.13 to 99.83
18 Dec 2026	81	17.2%	17.4%	71.93 to 101.93
15 Jan 2027	109	18.7%	19.1%	70.63 to 103.43
19 Feb 2027	144	19.5%	23.5%	69.93 to 107.23
19 Mar 2027	172	25.5%	27.5%	64.73 to 110.73

The range is one standard deviation either side of the close of 86.83, 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, EW's call wall is the 90 strike and its put wall is the 77.5 strike.

Figure	Value
Call wall, most open call gamma	90
Put wall, most open put gamma	77.5
Net dollar gamma, calls minus puts	$979,346
Total dollar gamma, both sides	$6.23 million
Close	86.83

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 2 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, EW's at the money IV is 32.6 percent against 20 day realized volatility of 25.7 percent.

Figure	Value
At the money IV	32.6%
Realized volatility, 20 trading days	25.7%
Realized volatility, 60 trading days	23.3%
IV against its own weekly record	In the middle
Weekly readings on record	865, from 8 Jan 2010
Weeks the price moved more than the one week priced move	26.6% 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, EW's at the money IV runs from 32.6 percent at 18 days to 38.8 percent at 172 days.

Days to expiry	At the money IV
18	32.6%
53	39.2%
81	37.9%
109	34.8%
144	28.0%
172	38.8%

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 53 day expiry, EW's IV ten percent below the price sits 16.2 points above at the money IV.

Strike area	Implied volatility	Against at the money
10% below the price	55.4%	+16.2 points
At the money	39.2%	0.0 points
10% above the price	39.4%	+0.1 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, EW's surface spans 6 expiries out to 172 days, with IV from 22.8 to 46.8 percent near the price.

Figure	Value
Expiries captured	6
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	41
Lowest IV among them	22.8%
Highest IV among them	46.8%

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, EW has 6 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	32.6%	2,745	1,631
20 Nov 2026	53	39.2%	9,902	3,736
18 Dec 2026	81	37.9%	2,060	984
15 Jan 2027	109	34.8%	4,478	13,549
19 Feb 2027	144	28.0%	620	423
19 Mar 2027	172	38.8%	601	346

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, EW's largest open interest sits at the 60 strike, with 8,124 contracts across the captured expiries.

Strike	Call open interest	Put open interest	Total
60	42	8,082	8,124
90	3,844	576	4,420
92.5	3,338	412	3,750
100	3,518	40	3,558
77.5	28	3,454	3,482
85	1,181	1,519	2,700

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, EW's at the money IV moved from 29.0 percent to 32.6 percent.

Figure	25 Sep	28 Sep	Change
At the money IV	29.0%	32.6%	+3.6 points
Open interest, strikes captured near the price	40,940	41,075	+135
Put/call ratio, open interest	1.01	1.01	+0.00

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, 1,925 EW option contracts traded, 1.0 times its own recent average.

Figure	Value
Calls traded	905
Puts traded	1,020
Against its recent average	1.0 times
Busier than	4 of its last 20 trading days
Open interest, whole chain	42,050 contracts
Volume to open interest	0.05
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 EW'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	93.66	$5.15 million	95	75
21 Sep 2026	88.34	$1.8 million	90	77.5
28 Sep 2026	86.83	$979,346	90	77.5

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 EW was bullish, paper trading.

Figure	Value
Side	Bullish at 45 trading days, no signal
Level above the close	89.32, the swing high of 31 Aug 2026
Level below the close	83.81, the swing low of 11 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 EW sat at the 82nd percentile of the model's 45 trading day ranking, paper trading.

Timeframe	Percentile	Side
10 trading days	64 of 100	Neutral
20 trading days	79 of 100	Neutral
45 trading days	82 of 100	Bullish

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 EW on the bullish side, paper trading.

Group	Timeframes	Side	On that side
Near	10 day, 20 day	Neutral	0 of 2
Long	45 day	Bullish	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 EW had carried no signal for at least 18 trading days, paper trading.

Trading day	Signal	45 day percentile
25 Sep 2026	None	82 of 100
24 Sep 2026	None	85 of 100
23 Sep 2026	None	91 of 100
22 Sep 2026	None	83 of 100
21 Sep 2026	None	50 of 100
18 Sep 2026	None	60 of 100
17 Sep 2026	None	59 of 100
16 Sep 2026	None	76 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, 32 of 120 Health Care names were bullish and 52 were bearish, paper trading.

Sector	Names	Bullish	Bearish	Neutral
Health Care	120	32	52	36

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

EW closed at 86.83 on 28 Sep 2026.

Figure	Value
Last close	86.83
Change over 5 trading days	-1.7%
Change over 21 trading days	-3.5%
Change over 63 trading days	-4.8%
Change over 252 trading days	+15.4%
52 week high	96.29
52 week low	72.30
20 day moving average	87.79
50 day moving average	88.34
200 day moving average	85.08
RSI, 14 days	45

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

EW reports next on 29 Oct 2026, a date worked out from past quarters.

Figure	Value
Next report	29 Oct 2026, after the close
Date	Worked out from past quarters
Move after the report of 28 Apr 2026	-1.3%
Move after the report of 26 Jan 2026	-0.8%
Move after the report of 23 Apr 2025	+6.6%
Move after the report of 11 Feb 2025	+6.9%

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

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Short Volume

On 25 Sep 2026, 37.6 percent of EW's reported volume at the covered venues was marked short.

Figure	Value
Short sale share, 25 Sep	37.6%
Five day average	39.0%
52 week median	42.9%

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 23 Septembers on record, EW's average change was plus 0.2 percent, and it rose in 39.1 percent of them.

Month	Average change	Middle change	Share of years up	Years
September	+0.2%	-1.1%	39.1%	23
October	-2.1%	-4.7%	47.8%	23
November	+2.8%	+3.9%	69.6%	23

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 EW's IV rank?: EW's IV rank is 71 of 100 on 28 Sep 2026.
What move are EW options pricing?: On 28 Sep 2026, EW options priced a move of 7.0 percent down and 6.7 percent up by 16 Oct 2026.
Where are EW's call wall and put wall?: On 28 Sep 2026, EW's call wall is the 90 strike and its put wall is the 77.5 strike.
What was the desk's latest view of EW on the Free plan?: On 25 Sep 2026 the desk's view of EW was bullish, paper trading.
When does EW report earnings next?: EW reports next on 29 Oct 2026, a date worked out from past quarters.

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