Consumer Staples

Hershey Co (HSY) options and signal

Figures as of 28 Sep 2026

HSY is Hershey Co, a Consumer Staples 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	30.6%	28 Sep
Priced move to 30 Oct	8.5% down, 10.9% up	28 Sep
Call wall and put wall	175 and 165	28 Sep
Signal and the desk's view	No signal, view neutral	25 Sep
Last close	164.41	28 Sep
Next report	5 Nov 2026	28 Sep

Options Snapshot

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

Figure	Value
IV rank	95 of 100
At the money IV	30.6%, near month, 32 days
Put/call ratio, open interest	0.84
Call open interest, strikes captured near the price	10,800 contracts
Put open interest, strikes captured near the price	9,060 contracts
Cost to trade at the money	Fair, 35.2% of the option's mid price

IV rank is where the at the money IV sits among HSY'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, HSY options priced a move of 8.5 percent down and 10.9 percent up by 30 Oct 2026.

Expiry	Days	Down	Up	Range
2 Oct 2026	4	4.7%	3.4%	156.69 to 169.92
9 Oct 2026	11	5.2%	5.5%	155.92 to 173.48
23 Oct 2026	25	8.4%	8.7%	150.61 to 178.71
30 Oct 2026	32	8.5%	10.9%	150.51 to 182.41
20 Nov 2026	53	12.2%	12.9%	144.41 to 185.61
18 Dec 2026	81	14.1%	15.8%	141.21 to 190.41
19 Feb 2027	144	17.8%	18.1%	135.11 to 194.21

The range is one standard deviation either side of the close of 164.41, 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, HSY's call wall is the 175 strike and its put wall is the 165 strike.

Figure	Value
Call wall, most open call gamma	175
Put wall, most open put gamma	165
Flip strike, where net gamma changes sign	172.39
Net dollar gamma, calls minus puts	minus $1.64 million
Total dollar gamma, both sides	$7.78 million
Close	164.41

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.

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, HSY's at the money IV is 30.6 percent against 20 day realized volatility of 14.2 percent.

Figure	Value
At the money IV	30.6%
Realized volatility, 20 trading days	14.2%
Realized volatility, 60 trading days	22.2%
IV against its own weekly record	High, in the top fifth
Weekly readings on record	860, from 8 Jan 2010
Weeks the price moved more than the one week priced move	29.4% 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.

Open Volatility History in RingMaster The Volatility History guide

Volatility Weather

On 28 Sep 2026, HSY's at the money IV runs from 32.0 percent at 4 days to 30.5 percent at 144 days.

Days to expiry	At the money IV
4	32.0%
11	28.6%
18	27.9%
25	28.8%
39	40.5%
53	35.8%
81	32.5%
144	30.5%

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 32 day expiry, HSY's IV ten percent below the price sits 4.0 points above at the money IV.

Strike area	Implied volatility	Against at the money
10% below the price	34.6%	+4.0 points
At the money	30.6%	0.0 points
10% above the price	35.7%	+5.1 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, HSY's surface spans 10 expiries out to 144 days, with IV from 25.1 to 57.7 percent near the price.

Figure	Value
Expiries captured	10
Nearest expiry	2 Oct 2026, 4 days
Farthest expiry	19 Feb 2027, 144 days
Points within 10% of the price, 7 days out or more	71
Lowest IV among them	25.1%
Highest IV among them	57.7%

From the option chain at the close on 28 Sep 2026. Current on every plan.

Open Volatility Surface in RingMaster The Volatility Surface guide

Expiry Ladder

On 28 Sep 2026, HSY has 10 captured expiries, from 2 Oct 2026 to 19 Feb 2027.

Expiry	Days	At the money IV	Call open interest	Put open interest
2 Oct 2026	4	32.0%	471	447
9 Oct 2026	11	28.6%	222	426
16 Oct 2026	18	27.9%	1,211	1,547
23 Oct 2026	25	28.8%	78	116
30 Oct 2026	32	30.6%	110	42
6 Nov 2026	39	40.5%	7	10
20 Nov 2026	53	35.8%	2,606	2,920
18 Dec 2026	81	32.5%	1,426	1,188
15 Jan 2027	109	32.1%	4,129	1,818
19 Feb 2027	144	30.5%	520	548

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, HSY's largest open interest sits at the 170 strike, with 2,171 contracts across the captured expiries.

Strike	Call open interest	Put open interest	Total
170	642	1,529	2,171
210	1,730	156	1,886
165	261	1,574	1,835
175	853	610	1,463
180	974	466	1,440
160	166	1,108	1,274

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, HSY's at the money IV moved from 29.9 percent to 30.6 percent.

Figure	25 Sep	28 Sep	Change
At the money IV	29.9%	30.6%	+0.8 points
Open interest, strikes captured near the price	22,512	19,842	-2,670
Put/call ratio, open interest	0.88	0.84	-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.

Open Since Yesterday in RingMaster The Since Yesterday guide

Changed Hands

On 28 Sep 2026, 3,031 HSY option contracts traded, 1.2 times its own recent average.

Figure	Value
Calls traded	1,615
Puts traded	1,416
Against its recent average	1.2 times
Busier than	12 of its last 20 trading days
Open interest, whole chain	26,061 contracts
Volume to open interest	0.12
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 HSY'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	181.98	$4.67 million	185	180
21 Sep 2026	167.90	minus $1.71 million	175	165
28 Sep 2026	164.41	minus $1.64 million	175	165

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 HSY was neutral, paper trading.

Figure	Value
Side	Neutral at 45 trading days, no signal
Level above the close	166.69, the swing high of 18 Sep 2026
Level below the close	164.31, the swing low of 28 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.

Open Read-out in RingMaster The Read-out guide

Rank by Timeframe

On 25 Sep 2026 HSY sat at the 60th percentile of the model's 45 trading day ranking, paper trading.

Timeframe	Percentile	Side
10 trading days	19 of 100	Bearish
20 trading days	18 of 100	Bearish
45 trading days	60 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 HSY's near timeframes were bearish and its long timeframe was neutral, paper trading.

Group	Timeframes	Side	On that side
Near	10 day, 20 day	Bearish	2 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 HSY had carried no signal for at least 18 trading days, paper trading.

Trading day	Signal	45 day percentile
25 Sep 2026	None	60 of 100
24 Sep 2026	None	45 of 100
23 Sep 2026	None	52 of 100
22 Sep 2026	None	48 of 100
21 Sep 2026	None	40 of 100
18 Sep 2026	None	47 of 100
17 Sep 2026	None	45 of 100
16 Sep 2026	None	54 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, 9 of 50 Consumer Staples names were bullish and 22 were bearish, paper trading.

Sector	Names	Bullish	Bearish	Neutral
Consumer Staples	50	9	22	19

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

HSY closed at 164.41 on 28 Sep 2026.

Figure	Value
Last close	164.41
Change over 5 trading days	-2.1%
Change over 21 trading days	-9.3%
Change over 63 trading days	-9.5%
Change over 252 trading days	-11.3%
52 week high	239.48
52 week low	161.43
20 day moving average	171.32
50 day moving average	177.18
200 day moving average	191.41
RSI, 14 days	30

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

HSY reports next on 5 Nov 2026, a date confirmed by the company.

Figure	Value
Next report	5 Nov 2026, before the open
Date	Confirmed by the company
Move after the report of 30 Jul 2026	-3.6%
Move after the report of 30 Apr 2026	-1.8%
Move after the report of 28 Jan 2026	-0.8%
Move after the report of 1 May 2025	-0.0%

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

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Short Volume

On 25 Sep 2026, 51.5 percent of HSY's reported volume at the covered venues was marked short.

Figure	Value
Short sale share, 25 Sep	51.5%
Five day average	51.8%
52 week median	60.8%

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, HSY'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%	-0.7%	43.5%	23
October	-0.4%	-2.7%	43.5%	23
November	+0.0%	+0.3%	56.5%	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 HSY 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 HSY's IV rank?: HSY's IV rank is 95 of 100 on 28 Sep 2026.
What move are HSY options pricing?: On 28 Sep 2026, HSY options priced a move of 8.5 percent down and 10.9 percent up by 30 Oct 2026.
Where are HSY's call wall and put wall?: On 28 Sep 2026, HSY's call wall is the 175 strike and its put wall is the 165 strike.
What was the desk's latest view of HSY on the Free plan?: On 25 Sep 2026 the desk's view of HSY was neutral, paper trading.
When does HSY report earnings next?: HSY reports next on 5 Nov 2026, a date confirmed by the company.

More Consumer Staples names

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