Consumer Discretionary

Five Below, Inc. (FIVE) options and signal

Figures as of 28 Sep 2026

FIVE is Five Below, Inc., a Consumer Discretionary 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	72 of 100	28 Sep
At the money IV	48.4%	28 Sep
Priced move to 16 Oct	11.2% down, 11.8% up	28 Sep
Call wall and put wall	Both 220	28 Sep
Signal and the desk's view	No signal, view neutral	25 Sep
Last close	228.00	28 Sep
Next report	2 Dec 2026	28 Sep

Options Snapshot

FIVE's IV rank is 72 of 100 on 28 Sep 2026.

Figure	Value
IV rank	72 of 100
At the money IV	48.4%, near month, 18 days
Put/call ratio, open interest	0.97
Call open interest, strikes captured near the price	3,780 contracts
Put open interest, strikes captured near the price	3,660 contracts
Cost to trade at the money	Fair, 36.2% of the option's mid price

IV rank is where the at the money IV sits among FIVE'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, FIVE options priced a move of 11.2 percent down and 11.8 percent up by 16 Oct 2026.

Expiry	Days	Down	Up	Range
16 Oct 2026	18	11.2%	11.8%	202.40 to 254.90
20 Nov 2026	53	16.6%	18.1%	190.10 to 269.30
15 Jan 2027	109	24.6%	27.7%	171.80 to 291.10
19 Feb 2027	144	27.3%	31.2%	165.80 to 299.10

The range is one standard deviation either side of the close of 228.00, 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, FIVE's call wall and put wall are both at the 220 strike.

Figure	Value
Call wall, most open call gamma	220
Put wall, most open put gamma	220
Net dollar gamma, calls minus puts	minus $110,251
Total dollar gamma, both sides	$3.12 million
Close	228.00

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.

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Volatility History

On 28 Sep 2026, FIVE's at the money IV is 48.4 percent against 20 day realized volatility of 36.7 percent.

Figure	Value
At the money IV	48.4%
Realized volatility, 20 trading days	36.7%
Realized volatility, 60 trading days	37.6%
IV against its own weekly record	In the middle
Weekly readings on record	714, from 10 Aug 2012
Weeks the price moved more than the one week priced move	26.3% 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, FIVE's at the money IV runs from 48.4 percent at 18 days to 45.9 percent at 144 days.

Days to expiry	At the money IV
18	48.4%
53	44.0%
109	46.7%
144	45.9%

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, FIVE's IV ten percent below the price sits 4.7 points above at the money IV.

Strike area	Implied volatility	Against at the money
10% below the price	48.7%	+4.7 points
At the money	44.0%	0.0 points
10% above the price	43.2%	-0.8 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, FIVE's surface spans 4 expiries out to 144 days, with IV from 43.2 to 56.4 percent near the price.

Figure	Value
Expiries captured	4
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	20
Lowest IV among them	43.2%
Highest IV among them	56.4%

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, FIVE has 4 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	48.4%	1,260	1,246
20 Nov 2026	53	44.0%	919	1,152
15 Jan 2027	109	46.7%	1,465	908
19 Feb 2027	144	45.9%	131	351

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, FIVE's largest open interest sits at the 220 strike, with 1,107 contracts across the captured expiries.

Strike	Call open interest	Put open interest	Total
220	430	677	1,107
230	483	441	924
200	137	652	789
210	212	515	727
250	449	242	691
260	412	81	493

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, FIVE's at the money IV moved from 45.0 percent to 48.4 percent.

Figure	25 Sep	28 Sep	Change
At the money IV	45.0%	48.4%	+3.4 points
Open interest, strikes captured near the price	7,268	7,432	+164
Put/call ratio, open interest	1.05	0.97	-0.08

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, 1,772 FIVE option contracts traded, 1.1 times its own recent average.

Figure	Value
Calls traded	799
Puts traded	973
Against its recent average	1.1 times
Busier than	10 of its last 20 trading days
Open interest, whole chain	8,873 contracts
Volume to open interest	0.20
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 FIVE'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	234.24	$2.05 million	230	210
21 Sep 2026	236.14	minus $221,582	250	220
28 Sep 2026	228.00	minus $110,251	220	220

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 FIVE was neutral, paper trading.

Figure	Value
Side	Neutral at 45 trading days, no signal
Level above the close	233.24, the swing high of 15 Sep 2026
Level below the close	216.67, the swing low of 23 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 FIVE sat at the 45th percentile of the model's 45 trading day ranking, paper trading.

Timeframe	Percentile	Side
10 trading days	76 of 100	Neutral
20 trading days	28 of 100	Neutral
45 trading days	45 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 FIVE'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 FIVE had carried no signal for at least 18 trading days, paper trading.

Trading day	Signal	45 day percentile
25 Sep 2026	None	45 of 100
24 Sep 2026	None	43 of 100
23 Sep 2026	None	52 of 100
22 Sep 2026	None	61 of 100
21 Sep 2026	None	86 of 100
18 Sep 2026	None	64 of 100
17 Sep 2026	None	72 of 100
16 Sep 2026	None	72 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, 27 of 106 Consumer Discretionary names were bullish and 33 were bearish, paper trading.

Sector	Names	Bullish	Bearish	Neutral
Consumer Discretionary	106	27	33	46

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

FIVE closed at 228.00 on 28 Sep 2026.

Figure	Value
Last close	228.00
Change over 5 trading days	-3.4%
Change over 21 trading days	-7.7%
Change over 63 trading days	+27.9%
Change over 252 trading days	+50.3%
52 week high	263.88
52 week low	137.77
20 day moving average	238.87
50 day moving average	233.24
200 day moving average	213.96
RSI, 14 days	44

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

FIVE reports next on 2 Dec 2026, a date worked out from past quarters.

Figure	Value
Next report	2 Dec 2026
Date	Worked out from past quarters

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

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Company Events

FIVE filed 1 current report in the 14 days to 28 Sep 2026, the latest on 23 Sep 2026.

Filed	Report	What it covers
23 Sep 2026	Current report	Departure of Directors or Certain Officers; Election of Directors; Appointment of Certain Officers; Compensatory Arrangements of Certain Officers; Regulation FD Disclosure

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

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Seasonality

In the 14 Septembers on record, FIVE's average change was plus 4.9 percent, and it rose in 64.3 percent of them.

Month	Average change	Middle change	Share of years up	Years
September	+4.9%	+7.1%	64.3%	14
October	+1.3%	+2.0%	71.4%	14
November	+5.0%	+6.6%	71.4%	14

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 1 headline naming FIVE in the 3 days to 28 Sep 2026.

Figure	Value
Headlines in the window	1
Latest	26 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 FIVE's IV rank?: FIVE's IV rank is 72 of 100 on 28 Sep 2026.
What move are FIVE options pricing?: On 28 Sep 2026, FIVE options priced a move of 11.2 percent down and 11.8 percent up by 16 Oct 2026.
Where are FIVE's call wall and put wall?: On 28 Sep 2026, FIVE's call wall and put wall are both at the 220 strike.
What was the desk's latest view of FIVE on the Free plan?: On 25 Sep 2026 the desk's view of FIVE was neutral, paper trading.
When does FIVE report earnings next?: FIVE reports next on 2 Dec 2026, a date worked out from past quarters.

More Consumer Discretionary names

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