Financials

ICICI Bank Limited (IBN) options and signal

Figures as of 28 Sep 2026

IBN is ICICI Bank Limited, 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.

Membership gets tonight's signals the night they publish. Free gets every options screen, never delayed, and the signals one trading day behind.

Start free See the plans

At a glance

Figure	Value	Date
IV rank	45 of 100	28 Sep
At the money IV	31.2%	28 Sep
Priced move to 16 Oct	6.9% down, 8.0% up	28 Sep
Call wall and put wall	32 and 26	28 Sep
Signal and the desk's view	No signal, view bullish	25 Sep
Last close	27.30	28 Sep
Next report	17 Oct 2026	28 Sep

Options Snapshot

IBN's IV rank is 45 of 100 on 28 Sep 2026.

Figure	Value
IV rank	45 of 100
At the money IV	31.2%, near month, 18 days
Put/call ratio, open interest	0.71
Call open interest, strikes captured near the price	11,200 contracts
Put open interest, strikes captured near the price	7,940 contracts
Cost to trade at the money	Wide, 100.2% of the option's mid price

IV rank is where the at the money IV sits among IBN'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.

Open Options Snapshot in RingMaster The Options Snapshot guide

Priced Range

On 28 Sep 2026, IBN options priced a move of 6.9 percent down and 8.0 percent up by 16 Oct 2026.

Expiry	Days	Down	Up	Range
16 Oct 2026	18	6.9%	8.0%	25.41 to 29.48
20 Nov 2026	53	11.1%	10.7%	24.27 to 30.23
18 Dec 2026	81	14.1%	14.8%	23.44 to 31.33
15 Jan 2027	109	20.5%	20.5%	21.70 to 32.90
19 Mar 2027	172	16.2%	21.9%	22.88 to 33.27

The range is one standard deviation either side of the close of 27.30, 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.

Open Priced Range in RingMaster The Priced Range guide

Gamma Map

On 28 Sep 2026, IBN's call wall is the 32 strike and its put wall is the 26 strike.

Figure	Value
Call wall, most open call gamma	32
Put wall, most open put gamma	26
Net dollar gamma, calls minus puts	minus $68,402
Total dollar gamma, both sides	$1 million
Close	27.30

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.

Open Gamma Map in RingMaster The Gamma Map guide

Volatility History

On 28 Sep 2026, IBN's at the money IV is 31.2 percent against 20 day realized volatility of 20.3 percent.

Figure	Value
At the money IV	31.2%
Realized volatility, 20 trading days	20.3%
Realized volatility, 60 trading days	19.2%
IV against its own weekly record	In the middle
Weekly readings on record	843, from 8 Jan 2010
Weeks the price moved more than the one week priced move	27.1% 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.

Open Volatility History in RingMaster The Volatility History guide

Volatility Weather

On 28 Sep 2026, IBN's at the money IV runs from 31.2 percent at 18 days to 28.7 percent at 172 days.

Days to expiry	At the money IV
18	31.2%
53	28.8%
81	30.9%
109	37.5%
172	28.7%

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.

Open Volatility Weather in RingMaster The Volatility Weather guide

Volatility Surface

On 28 Sep 2026, IBN's surface spans 5 expiries out to 172 days, with IV from 23.6 to 41.9 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	23
Lowest IV among them	23.6%
Highest IV among them	41.9%

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, IBN 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	31.2%	3,346	63
20 Nov 2026	53	28.8%	6	151
18 Dec 2026	81	30.9%	4,421	3,839
15 Jan 2027	109	37.5%	3,137	3,368
19 Mar 2027	172	28.7%	251	515

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.

Open Expiry Ladder in RingMaster The Expiry Ladder guide

Strike Table

On 28 Sep 2026, IBN's largest open interest sits at the 32 strike, with 5,465 contracts across the captured expiries.

Strike	Call open interest	Put open interest	Total
32	5,108	357	5,465
26	8	3,629	3,637
30	1,390	1,955	3,345
33	2,203	0	2,203
35	1,244	11	1,255
27	101	668	769

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

Open Strike Table in RingMaster The Strike Table guide

Since Yesterday

From 25 Sep 2026 to 28 Sep 2026, IBN's at the money IV moved from 29.0 percent to 31.2 percent.

Figure	25 Sep	28 Sep	Change
At the money IV	29.0%	31.2%	+2.2 points
Open interest, strikes captured near the price	18,559	19,097	+538
Put/call ratio, open interest	0.70	0.71	+0.01

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, 682 IBN option contracts traded, 0.8 times its own recent average.

Figure	Value
Calls traded	550
Puts traded	132
Against its recent average	0.8 times
Busier than	5 of its last 20 trading days
Open interest, whole chain	19,335 contracts
Volume to open interest	0.04
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.

Open Changed Hands in RingMaster The Changed Hands guide

Positioning Replay

The replay holds 33 trading days of IBN'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	29.87	$383,805	33	26
21 Sep 2026	28.32	$47,595	32	26
28 Sep 2026	27.30	minus $68,402	32	26

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.

Open Positioning Replay in RingMaster The Positioning Replay guide

Read-out

On 25 Sep 2026 the desk's view of IBN was bullish, paper trading.

Figure	Value
Side	Bullish at 45 trading days, no signal
Level above the close	28.76, the swing high of 10 Sep 2026
Level below the close	27.20, the swing low of 28 Sep 2026, a close past it runs against the view
The chart	Sits against the view
Strategy family	Bull call spread (buy a call 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.

Open Read-out in RingMaster The Read-out guide

Rank by Timeframe

On 25 Sep 2026 IBN sat at the 81st percentile of the model's 45 trading day ranking, paper trading.

Timeframe	Percentile	Side
10 trading days	69 of 100	Neutral
20 trading days	64 of 100	Neutral
45 trading days	81 of 100	Bullish

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.

Open Rank by Timeframe in RingMaster The Rank by Timeframe guide

Timeframe Agreement

On 25 Sep 2026, 1 of 3 timeframes put IBN on the bullish side, paper trading.

Group	Timeframes	Side	On that side
Near	10 day, 20 day	Neutral	0 of 2
Long	45 day	Bullish	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 IBN had carried no signal for at least 18 trading days, paper trading.

Trading day	Signal	45 day percentile
25 Sep 2026	None	81 of 100
24 Sep 2026	None	87 of 100
23 Sep 2026	None	82 of 100
22 Sep 2026	None	90 of 100
21 Sep 2026	None	89 of 100
18 Sep 2026	None	87 of 100
17 Sep 2026	None	74 of 100
16 Sep 2026	None	95 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, 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.

Open Sector Split in RingMaster The Sector Split guide

Price Chart

IBN closed at 27.30 on 28 Sep 2026.

Figure	Value
Last close	27.30
Change over 5 trading days	-3.6%
Change over 21 trading days	-8.6%
Change over 63 trading days	-7.0%
Change over 252 trading days	-11.0%
52 week high	33.03
52 week low	25.08
20 day moving average	28.91
50 day moving average	29.50
200 day moving average	28.71
RSI, 14 days	28

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.

Open Price Chart in RingMaster The Price Chart guide

Earnings Radar

IBN reports next on 17 Oct 2026, a date confirmed by the company.

Figure	Value
Next report	17 Oct 2026, after the close
Date	Confirmed by the company
Move after the report of 18 Jul 2026	0.0%
Move after the report of 19 Apr 2026	-0.2%
Move after the report of 17 Jan 2026	-4.4%
Move after the report of 19 Apr 2025	+0.9%

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

Open Earnings Radar in RingMaster The Earnings Radar guide

Seasonality

In the 23 Septembers on record, IBN's average change was plus 3.6 percent, and it rose in 47.8 percent of them.

Month	Average change	Middle change	Share of years up	Years
September	+3.6%	-0.2%	47.8%	23
October	+5.6%	+7.0%	78.3%	23
November	+1.6%	+4.3%	60.9%	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.

Open Seasonality in RingMaster The Seasonality guide

Questions

What is IBN's IV rank?: IBN's IV rank is 45 of 100 on 28 Sep 2026.
What move are IBN options pricing?: On 28 Sep 2026, IBN options priced a move of 6.9 percent down and 8.0 percent up by 16 Oct 2026.
Where are IBN's call wall and put wall?: On 28 Sep 2026, IBN's call wall is the 32 strike and its put wall is the 26 strike.
What was the desk's latest view of IBN on the Free plan?: On 25 Sep 2026 the desk's view of IBN was bullish, paper trading.
When does IBN report earnings next?: IBN reports next on 17 Oct 2026, a date confirmed by the company.

More Financials names

Guides and the full list

Membership gets tonight's signals the night they publish. Free gets every options screen, never delayed, and the signals one trading day behind.

Start free See the plans