Financials

First Citizens BancShares, Inc. (FCNCA) options and signal

Figures as of 28 Sep 2026

FCNCA is First Citizens BancShares, Inc., a Financials 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	31 of 100	28 Sep
At the money IV	27.7%	28 Sep
Priced move to 16 Oct	6.7% down, 6.5% up	28 Sep
Call wall and put wall	2,170 and 2,020	28 Sep
Signal and the desk's view	No signal, view neutral	25 Sep
Last close	2,098.23	28 Sep
Next report	22 Oct 2026	28 Sep

Options Snapshot

FCNCA's IV rank is 31 of 100 on 28 Sep 2026.

Figure	Value
IV rank	31 of 100
At the money IV	27.7%, near month, 18 days
Put/call ratio, open interest	0.45
Call open interest, strikes captured near the price	492 contracts
Put open interest, strikes captured near the price	219 contracts
Cost to trade at the money	Fair, 31.5% of the option's mid price

IV rank is where the at the money IV sits among FCNCA'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, FCNCA options priced a move of 6.7 percent down and 6.5 percent up by 16 Oct 2026.

Expiry	Days	Down	Up	Range
16 Oct 2026	18	6.7%	6.5%	1,958.23 to 2,234.23
20 Nov 2026	53	11.5%	12.0%	1,856.23 to 2,350.23
19 Feb 2027	144	17.1%	13.9%	1,740.23 to 2,389.23

The range is one standard deviation either side of the close of 2,098.23, 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, FCNCA's call wall is the 2,170 strike and its put wall is the 2,020 strike.

Figure	Value
Call wall, most open call gamma	2,170
Put wall, most open put gamma	2,020
Net dollar gamma, calls minus puts	$1.03 million
Total dollar gamma, both sides	$4.92 million
Close	2,098.23

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 8 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, FCNCA's at the money IV is 27.7 percent against 20 day realized volatility of 22.9 percent.

Figure	Value
At the money IV	27.7%
Realized volatility, 20 trading days	22.9%
Realized volatility, 60 trading days	26.8%
IV against its own weekly record	In the middle
Weekly readings on record	286, from 18 Dec 2015
Weeks the price moved more than the one week priced move	27.4% of 219 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, FCNCA's at the money IV runs from 27.7 percent at 18 days to 22.1 percent at 144 days.

Days to expiry	At the money IV
18	27.7%
53	54.7%
144	22.1%

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 53 day expiry, FCNCA'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	53.5%	-1.2 points
At the money	54.7%	0.0 points
10% above the price	31.8%	-22.9 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, FCNCA's surface spans 3 expiries out to 144 days, with IV from 3.1 to 62.3 percent near the price.

Figure	Value
Expiries captured	3
Nearest expiry	16 Oct 2026, 18 days
Farthest expiry	19 Feb 2027, 144 days
Points within 10% of the price, 7 days out or more	59
Lowest IV among them	3.1%
Highest IV among them	62.3%

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, FCNCA has 3 captured expiries, from 16 Oct 2026 to 19 Feb 2027.

Expiry	Days	At the money IV	Call open interest	Put open interest
16 Oct 2026	18	27.7%	195	122
20 Nov 2026	53	54.7%	284	43
19 Feb 2027	144	22.1%	13	54

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, FCNCA's largest open interest sits at the 2,300 strike, with 70 contracts across the captured expiries.

Strike	Call open interest	Put open interest	Total
2,300	70	0	70
2,100	31	29	60
2,440	58	0	58
2,170	53	1	54
2,020	14	33	47
2,340	36	0	36

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, FCNCA's at the money IV moved from 25.5 percent to 27.7 percent.

Figure	25 Sep	28 Sep	Change
At the money IV	25.5%	27.7%	+2.2 points
Open interest, strikes captured near the price	681	711	+30
Put/call ratio, open interest	0.47	0.45	-0.03

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, 329 FCNCA option contracts traded, 1.1 times its own recent average.

Figure	Value
Calls traded	213
Puts traded	116
Against its recent average	1.1 times
Busier than	5 of its last 20 trading days
Open interest, whole chain	1,048 contracts
Volume to open interest	0.31
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 FCNCA'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	2,253.13	$2.65 million	2,200	2,120
21 Sep 2026	2,121.73	$420,232	2,170	2,160
28 Sep 2026	2,098.23	$1.03 million	2,170	2,020

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 FCNCA was neutral, paper trading.

Figure	Value
Side	Neutral at 45 trading days, no signal
Level above the close	2,134.72, the swing high of 22 Sep 2026
Level below the close	2,060.02, the swing low of 16 Sep 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.

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Rank by Timeframe

On 25 Sep 2026 FCNCA sat at the 30th percentile of the model's 45 trading day ranking, paper trading.

Timeframe	Percentile	Side
10 trading days	23 of 100	Neutral
20 trading days	46 of 100	Neutral
45 trading days	30 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 FCNCA'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.

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Signal History

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

Trading day	Signal	45 day percentile
25 Sep 2026	None	30 of 100
24 Sep 2026	None	16 of 100
23 Sep 2026	None	19 of 100
22 Sep 2026	None	17 of 100
21 Sep 2026	None	24 of 100
18 Sep 2026	None	19 of 100
17 Sep 2026	None	34 of 100
16 Sep 2026	None	20 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, 63 of 135 Financials names were bullish and 32 were bearish, paper trading.

Sector	Names	Bullish	Bearish	Neutral
Financials	135	63	32	40

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

FCNCA closed at 2,098.23 on 28 Sep 2026.

Figure	Value
Last close	2,098.23
Change over 5 trading days	-1.1%
Change over 21 trading days	-2.9%
Change over 63 trading days	+0.9%
Change over 252 trading days	+12.5%
52 week high	2,296.30
52 week low	1,623.76
20 day moving average	2,132.64
50 day moving average	2,168.13
200 day moving average	2,060.93
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

FCNCA reports next on 22 Oct 2026, a date confirmed by the company.

Figure	Value
Next report	22 Oct 2026, before the open
Date	Confirmed by the company
Move after the report of 24 Apr 2026	+2.1%
Move after the report of 22 Jan 2026	-8.5%
Move after the report of 24 Apr 2025	+1.1%
Move after the report of 24 Jan 2025	+0.4%

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

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Company Events

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

Filed	Report	What it covers
14 Sep 2026	Current report	Material Modification to Rights of Security Holders; Amendments to Articles of Incorporation or Bylaws; Change in Fiscal Year; Other Events

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

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Seasonality

In the 23 Septembers on record, FCNCA's average change was minus 0.2 percent, and it rose in 43.5 percent of them.

Month	Average change	Middle change	Share of years up	Years
September	-0.2%	-1.4%	43.5%	23
October	+3.7%	+2.0%	60.9%	23
November	+4.5%	+5.3%	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 FCNCA's IV rank?: FCNCA's IV rank is 31 of 100 on 28 Sep 2026.
What move are FCNCA options pricing?: On 28 Sep 2026, FCNCA options priced a move of 6.7 percent down and 6.5 percent up by 16 Oct 2026.
Where are FCNCA's call wall and put wall?: On 28 Sep 2026, FCNCA's call wall is the 2,170 strike and its put wall is the 2,020 strike.
What was the desk's latest view of FCNCA on the Free plan?: On 25 Sep 2026 the desk's view of FCNCA was neutral, paper trading.
When does FCNCA report earnings next?: FCNCA reports next on 22 Oct 2026, a date confirmed by the company.

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