Health Care

Hinge Health, Inc. (HNGE) options and signal

Figures as of 28 Sep 2026

HNGE is Hinge Health, Inc., 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
Priced move to 16 Oct	12.7% down, 12.4% up	28 Sep
Call wall and put wall	95 and 90	28 Sep
Signal and the desk's view	No signal, view bearish	25 Sep
Last close	92.45	28 Sep
Next report	3 Nov 2026	28 Sep

Options Snapshot

HNGE's at the money implied volatility is 55.1 percent on 28 Sep 2026.

Figure	Value
IV rank	Not stated, 45 weeks of record
At the money IV	55.1%, near month, 18 days
Put/call ratio, open interest	0.39
Call open interest, strikes captured near the price	15,900 contracts
Put open interest, strikes captured near the price	6,200 contracts
Cost to trade at the money	Wide, 40.4% of the option's mid price

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, HNGE options priced a move of 12.7 percent down and 12.4 percent up by 16 Oct 2026.

Expiry	Days	Down	Up	Range
16 Oct 2026	18	12.7%	12.4%	80.75 to 103.95
20 Nov 2026	53	23.4%	24.4%	70.85 to 115.05
18 Dec 2026	81	26.8%	28.9%	67.65 to 119.15
15 Jan 2027	109	29.9%	33.2%	64.85 to 123.15
19 Mar 2027	172	39.0%	44.8%	56.35 to 133.85

The range is one standard deviation either side of the close of 92.45, 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, HNGE's call wall is the 95 strike and its put wall is the 90 strike.

Figure	Value
Call wall, most open call gamma	95
Put wall, most open put gamma	90
Net dollar gamma, calls minus puts	$1.1 million
Total dollar gamma, both sides	$2.73 million
Close	92.45

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 4 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, HNGE's at the money IV is 55.1 percent against 20 day realized volatility of 44.3 percent.

Figure	Value
At the money IV	55.1%
Realized volatility, 20 trading days	44.3%
Realized volatility, 60 trading days	47.3%
Weekly readings on record	45, from 6 Jun 2025

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, HNGE's at the money IV runs from 55.1 percent at 18 days to 60.8 percent at 172 days.

Days to expiry	At the money IV
18	55.1%
53	64.3%
81	59.1%
109	58.4%
172	60.8%

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, HNGE's IV ten percent below the price sits 2.4 points below at the money IV.

Strike area	Implied volatility	Against at the money
10% below the price	61.9%	-2.4 points
At the money	64.3%	0.0 points
10% above the price	67.4%	+3.1 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, HNGE's surface spans 5 expiries out to 172 days, with IV from 54.4 to 67.4 percent near the price.

Figure	Value
Expiries captured	5
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	20
Lowest IV among them	54.4%
Highest IV among them	67.4%

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, HNGE has 5 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	55.1%	3,696	1,254
20 Nov 2026	53	64.3%	217	204
18 Dec 2026	81	59.1%	6,150	4,055
15 Jan 2027	109	58.4%	5,341	395
19 Mar 2027	172	60.8%	536	294

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, HNGE's largest open interest sits at the 90 strike, with 4,649 contracts across the captured expiries.

Strike	Call open interest	Put open interest	Total
90	1,682	2,967	4,649
50	2,923	96	3,019
120	2,305	11	2,316
85	1,467	828	2,295
100	2,124	31	2,155
95	1,905	51	1,956

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, HNGE's at the money IV moved from 52.4 percent to 55.1 percent.

Figure	25 Sep	28 Sep	Change
At the money IV	52.4%	55.1%	+2.7 points
Open interest, strikes captured near the price	21,550	22,142	+592
Put/call ratio, open interest	0.35	0.39	+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, 2,425 HNGE option contracts traded, 1.4 times its own recent average.

Figure	Value
Calls traded	1,041
Puts traded	1,384
Against its recent average	1.4 times
Busier than	10 of its last 20 trading days
Open interest, whole chain	22,601 contracts
Volume to open interest	0.11
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 HNGE'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	89.01	minus $102,549	85	90
21 Sep 2026	94.45	$951,722	100	90
28 Sep 2026	92.45	$1.1 million	95	90

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 HNGE was bearish, paper trading.

Figure	Value
Side	Bearish at 45 trading days, no signal
Level above the close	93.76, the swing high of 9 Sep 2026, a close past it runs against the view
Level below the close	89.75, the swing low of 23 Sep 2026
The chart	Sits against the view
Strategy family	Bear put spread (buy a put spread)
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 HNGE sat at the 18th percentile of the model's 45 trading day ranking, paper trading.

Timeframe	Percentile	Side
10 trading days	76 of 100	Neutral
20 trading days	64 of 100	Neutral
45 trading days	18 of 100	Bearish

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 HNGE on the bearish side, paper trading.

Group	Timeframes	Side	On that side
Near	10 day, 20 day	Neutral	0 of 2
Long	45 day	Bearish	1 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 HNGE had carried no signal for 12 trading days, paper trading.

Trading day	Signal	45 day percentile
25 Sep 2026	None	18 of 100
24 Sep 2026	None	31 of 100
23 Sep 2026	None	38 of 100
22 Sep 2026	None	25 of 100
21 Sep 2026	None	21 of 100
18 Sep 2026	None	45 of 100
17 Sep 2026	None	33 of 100
16 Sep 2026	None	25 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

HNGE closed at 92.45 on 28 Sep 2026.

Figure	Value
Last close	92.45
Change over 5 trading days	-2.1%
Change over 21 trading days	-0.4%
Change over 63 trading days	+13.5%
Change over 252 trading days	+80.4%
52 week high	96.66
52 week low	30.08
20 day moving average	92.49
50 day moving average	87.31
200 day moving average	60.21
RSI, 14 days	52

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

HNGE reports next on 3 Nov 2026, a date confirmed by the company.

Figure	Value
Next report	3 Nov 2026, after the close
Date	Confirmed by the company
Move after the report of 4 Aug 2026	+1.7%
Move after the report of 29 Jul 2026	+1.4%
Move after the report of 30 Apr 2026	+1.9%
Move after the report of 28 Jan 2026	-3.8%

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

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Questions

What is HNGE's IV rank?: HNGE's at the money implied volatility is 55.1 percent on 28 Sep 2026.
What move are HNGE options pricing?: On 28 Sep 2026, HNGE options priced a move of 12.7 percent down and 12.4 percent up by 16 Oct 2026.
Where are HNGE's call wall and put wall?: On 28 Sep 2026, HNGE's call wall is the 95 strike and its put wall is the 90 strike.
What was the desk's latest view of HNGE on the Free plan?: On 25 Sep 2026 the desk's view of HNGE was bearish, paper trading.
When does HNGE report earnings next?: HNGE reports next on 3 Nov 2026, a date confirmed by the company.

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