Industrials

FedEx Corp (FDX) options and signal

Figures as of 28 Sep 2026

FDX is FedEx Corp, 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	95 of 100	28 Sep
At the money IV	41.1%	28 Sep
Priced move to 30 Oct	12.8% down, 12.5% up	28 Sep
Call wall and put wall	310 and 290	28 Sep
Signal and the desk's view	No signal, view neutral	25 Sep
Last close	289.65	28 Sep
Next report	28 Oct 2026	28 Sep

Options Snapshot

FDX's IV rank is 95 of 100 on 28 Sep 2026.

Figure	Value
IV rank	95 of 100
At the money IV	41.1%, near month, 32 days
Put/call ratio, open interest	1.04
Call open interest, strikes captured near the price	15,200 contracts
Put open interest, strikes captured near the price	15,800 contracts
Cost to trade at the money	Tight, 11.3% of the option's mid price

IV rank is where the at the money IV sits among FDX'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, FDX options priced a move of 12.8 percent down and 12.5 percent up by 30 Oct 2026.

Expiry	Days	Down	Up	Range
2 Oct 2026	4	3.5%	3.2%	279.45 to 298.96
9 Oct 2026	11	5.5%	5.2%	273.65 to 304.75
23 Oct 2026	25	7.8%	7.7%	267.15 to 311.85
30 Oct 2026	32	12.8%	12.5%	252.55 to 325.75
20 Nov 2026	53	13.8%	14.4%	249.65 to 331.45
18 Dec 2026	81	16.1%	16.8%	243.15 to 338.45
19 Mar 2027	172	23.2%	25.5%	222.55 to 363.45

The range is one standard deviation either side of the close of 289.65, 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, FDX's call wall is the 310 strike and its put wall is the 290 strike.

Figure	Value
Call wall, most open call gamma	310
Put wall, most open put gamma	290
Net dollar gamma, calls minus puts	minus $4.53 million
Total dollar gamma, both sides	$24.41 million
Close	289.65

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 5 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, FDX's at the money IV is 41.1 percent against 20 day realized volatility of 27.8 percent.

Figure	Value
At the money IV	41.1%
Realized volatility, 20 trading days	27.8%
Realized volatility, 60 trading days	24.5%
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	23.8% 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, FDX's at the money IV runs from 32.0 percent at 4 days to 34.8 percent at 172 days.

Days to expiry	At the money IV
4	32.0%
11	31.9%
18	32.1%
25	30.7%
39	41.0%
53	37.0%
81	34.8%
172	34.8%

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 32 day expiry, FDX's IV ten percent below the price sits 6.4 points above at the money IV.

Strike area	Implied volatility	Against at the money
10% below the price	47.5%	+6.4 points
At the money	41.1%	0.0 points
10% above the price	42.0%	+1.0 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, FDX's surface spans 10 expiries out to 172 days, with IV from 28.5 to 46.8 percent near the price.

Figure	Value
Expiries captured	10
Nearest expiry	2 Oct 2026, 4 days
Farthest expiry	19 Mar 2027, 172 days
Points within 10% of the price, 7 days out or more	93
Lowest IV among them	28.5%
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, FDX has 10 captured expiries, from 2 Oct 2026 to 19 Mar 2027.

Expiry	Days	At the money IV	Call open interest	Put open interest
2 Oct 2026	4	32.0%	1,828	1,479
9 Oct 2026	11	31.9%	869	579
16 Oct 2026	18	32.1%	3,227	4,163
23 Oct 2026	25	30.7%	672	339
30 Oct 2026	32	41.1%	1,075	678
6 Nov 2026	39	41.0%	25	62
20 Nov 2026	53	37.0%	529	1,729
18 Dec 2026	81	34.8%	3,582	2,219
15 Jan 2027	109	33.4%	1,909	2,912
19 Mar 2027	172	34.8%	1,499	1,612

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, FDX's largest open interest sits at the 310 strike, with 3,118 contracts across the captured expiries.

Strike	Call open interest	Put open interest	Total
310	1,656	1,462	3,118
290	374	2,683	3,057
330	1,953	616	2,569
280	345	1,921	2,266
300	992	1,229	2,221
320	1,600	450	2,050

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, FDX's at the money IV moved from 29.4 percent to 41.1 percent.

Figure	25 Sep	28 Sep	Change
At the money IV	29.4%	41.1%	+11.6 points
Open interest, strikes captured near the price	29,230	30,987	+1,757
Put/call ratio, open interest	1.08	1.04	-0.04

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, 7,513 FDX option contracts traded, 0.9 times its own recent average.

Figure	Value
Calls traded	3,698
Puts traded	3,815
Against its recent average	0.9 times
Busier than	6 of its last 20 trading days
Open interest, whole chain	43,417 contracts
Volume to open interest	0.17
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 FDX'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	322.43	$11.39 million	320	310
21 Sep 2026	295.79	minus $4.2 million	310	290
28 Sep 2026	289.65	minus $4.53 million	310	290

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 FDX was neutral, paper trading.

Figure	Value
Side	Neutral at 45 trading days, no signal
Level above the close	291.25, the swing high of 21 Sep 2026
Level below the close	279.23, the swing low of 25 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 FDX sat at the 41st percentile of the model's 45 trading day ranking, paper trading.

Timeframe	Percentile	Side
10 trading days	47 of 100	Neutral
20 trading days	33 of 100	Neutral
45 trading days	41 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 FDX'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 FDX had carried no signal for at least 18 trading days, paper trading.

Trading day	Signal	45 day percentile
25 Sep 2026	None	41 of 100
24 Sep 2026	None	72 of 100
23 Sep 2026	None	39 of 100
22 Sep 2026	None	27 of 100
21 Sep 2026	None	87 of 100
18 Sep 2026	None	72 of 100
17 Sep 2026	None	66 of 100
16 Sep 2026	None	41 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

FDX closed at 289.65 on 28 Sep 2026.

Figure	Value
Last close	289.65
Change over 5 trading days	-2.1%
Change over 21 trading days	-12.6%
Change over 63 trading days	-11.0%
Change over 252 trading days	+52.0%
52 week high	345.37
52 week low	180.99
20 day moving average	306.66
50 day moving average	315.51
200 day moving average	297.86
RSI, 14 days	35

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

FDX reports next on 28 Oct 2026, a date confirmed by the company.

Figure	Value
Next report	28 Oct 2026, after the close
Date	Confirmed by the company
Move after the report of 24 Sep 2025	+1.1%
Move after the report of 24 Jun 2025	-3.3%
Move after the report of 20 Mar 2025	-6.5%

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

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Company Events

FDX 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	Other Events

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

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Public Filings

The filings the desk holds carry 1 recent trade in FDX shares.

Filed	Who	Trade	Size
4 Sep 2026	. Gilbert Cisneros, member of Congress	Sold	$1,001 to $15,000

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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Short Volume

On 25 Sep 2026, 46.1 percent of FDX's reported volume at the covered venues was marked short.

Figure	Value
Short sale share, 25 Sep	46.1%
Five day average	53.6%
52 week median	46.0%

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, FDX's average change was minus 0.8 percent, and it rose in 52.2 percent of them.

Month	Average change	Middle change	Share of years up	Years
September	-0.8%	+1.5%	52.2%	23
October	+3.7%	+4.9%	73.9%	23
November	+4.9%	+4.8%	82.6%	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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Headlines

The desk's news feeds carried 4 headlines naming FDX in the 3 days to 28 Sep 2026.

Figure	Value
Headlines in the window	4
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 FDX's IV rank?: FDX's IV rank is 95 of 100 on 28 Sep 2026.
What move are FDX options pricing?: On 28 Sep 2026, FDX options priced a move of 12.8 percent down and 12.5 percent up by 30 Oct 2026.
Where are FDX's call wall and put wall?: On 28 Sep 2026, FDX's call wall is the 310 strike and its put wall is the 290 strike.
What was the desk's latest view of FDX on the Free plan?: On 25 Sep 2026 the desk's view of FDX was neutral, paper trading.
When does FDX report earnings next?: FDX reports next on 28 Oct 2026, a date confirmed by the company.

More Industrials names

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