Health Care

Illumina, Inc. (ILMN) options and signal

Figures as of 28 Sep 2026

ILMN is Illumina, 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
Trade Card	Long put, 18 Dec	25 Sep
IV rank	94 of 100	28 Sep
At the money IV	54.9%	28 Sep
Priced move to 16 Oct	12.7% down, 12.0% up	28 Sep
Call wall and put wall	Both 230	28 Sep
Signal and the desk's view	Bearish signal, view bearish	25 Sep
Last close	271.90	28 Sep
Next report	29 Oct 2026	28 Sep

Trade Cards

On 25 Sep 2026 the Trade Card for ILMN was a long put expiring 18 Dec 2026, paper trading.

Figure	Value
Signal	Bearish, over 45 trading days
Strategy	Long put, debit
Legs	Buy the 280 put
Expiry	18 Dec 2026, 84 days to expiry
Limit	A debit of at most $38.95
Probability of profit	30%, the option market's odds at expiry, from delta
Max loss	$3,718 per contract
Max profit	$24,282 per contract
Breakeven	242.82
IV rank at that expiry	97 of 100

Probability of profit is the option market's own odds from delta, not the model's.

Priced on the option chain at the close on 25 Sep 2026.

Paper trading. The model's figures from 25 Sep 2026, one trading day behind, as the Free plan shows them.

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Options Snapshot

ILMN's IV rank is 94 of 100 on 28 Sep 2026.

Figure	Value
IV rank	94 of 100
At the money IV	54.9%, near month, 18 days
Put/call ratio, open interest	0.43
Call open interest, strikes captured near the price	10,500 contracts
Put open interest, strikes captured near the price	4,500 contracts
Cost to trade at the money	Tight, 6.7% of the option's mid price

IV rank is where the at the money IV sits among ILMN'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, ILMN options priced a move of 12.7 percent down and 12.0 percent up by 16 Oct 2026.

Expiry	Days	Down	Up	Range
16 Oct 2026	18	12.7%	12.0%	237.50 to 304.50
20 Nov 2026	53	23.4%	23.8%	208.30 to 336.70
18 Dec 2026	81	27.2%	28.6%	198.00 to 349.70
15 Jan 2027	109	31.3%	32.9%	186.70 to 361.40
19 Mar 2027	172	42.3%	41.9%	156.90 to 385.90

The range is one standard deviation either side of the close of 271.90, 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, ILMN's call wall and put wall are both at the 230 strike.

Figure	Value
Call wall, most open call gamma	230
Put wall, most open put gamma	230
Net dollar gamma, calls minus puts	$2.02 million
Total dollar gamma, both sides	$4.62 million
Close	271.90

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, ILMN's at the money IV is 54.9 percent against 20 day realized volatility of 53.7 percent.

Figure	Value
At the money IV	54.9%
Realized volatility, 20 trading days	53.7%
Realized volatility, 60 trading days	46.8%
IV against its own weekly record	High, in the top fifth
Weekly readings on record	849, from 8 Jan 2010
Weeks the price moved more than the one week priced move	30.1% 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.

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Volatility Weather

On 28 Sep 2026, ILMN's at the money IV runs from 54.9 percent at 18 days to 61.8 percent at 172 days.

Days to expiry	At the money IV
18	54.9%
53	62.2%
81	59.9%
109	60.4%
172	61.8%

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, ILMN's IV ten percent below the price sits 1.9 points above at the money IV.

Strike area	Implied volatility	Against at the money
10% below the price	64.2%	+1.9 points
At the money	62.2%	0.0 points
10% above the price	61.6%	-0.6 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, ILMN's surface spans 5 expiries out to 172 days, with IV from 53.6 to 62.5 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	25
Lowest IV among them	53.6%
Highest IV among them	62.5%

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, ILMN 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	54.9%	2,311	2,000
20 Nov 2026	53	62.2%	737	512
18 Dec 2026	81	59.9%	2,452	752
15 Jan 2027	109	60.4%	4,770	1,062
19 Mar 2027	172	61.8%	237	174

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, ILMN's largest open interest sits at the 230 strike, with 2,686 contracts across the captured expiries.

Strike	Call open interest	Put open interest	Total
230	1,601	1,085	2,686
240	943	672	1,615
220	1,045	255	1,300
170	662	220	882
250	601	164	765
210	405	307	712

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, ILMN's at the money IV moved from 53.9 percent to 54.9 percent.

Figure	25 Sep	28 Sep	Change
At the money IV	53.9%	54.9%	+1.0 points
Open interest, strikes captured near the price	15,117	15,007	-110
Put/call ratio, open interest	0.45	0.43	-0.02

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, 2,262 ILMN option contracts traded, 1.0 times its own recent average.

Figure	Value
Calls traded	762
Puts traded	1,500
Against its recent average	1.0 times
Busier than	15 of its last 20 trading days
Open interest, whole chain	19,074 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 ILMN'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	192.84	$1.34 million	200	190
21 Sep 2026	238.82	$1.63 million	240	200
28 Sep 2026	271.90	$2.02 million	230	230

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 ILMN was bearish, paper trading.

Figure	Value
Side	Bearish at 45 trading days, signal on
Level above the close	277.95, the swing high of 24 Sep 2026, a close past it runs against the view
Level below the close	250.06, the swing low of 18 Sep 2026
The chart	Sits against the view
Strategy family	Long put (buy a put)
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 ILMN sat at the 3rd percentile of the model's 45 trading day ranking, paper trading.

Timeframe	Percentile	Side
10 trading days	7 of 100	Bearish
20 trading days	2 of 100	Bearish
45 trading days	3 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, 3 of 3 timeframes put ILMN on the bearish side, paper trading.

Group	Timeframes	Side	On that side
Near	10 day, 20 day	Bearish	2 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.

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Signal History

On 25 Sep 2026 ILMN's bearish signal had held 2 trading days in a row, paper trading.

Trading day	Signal	45 day percentile
25 Sep 2026	Bearish	3 of 100
24 Sep 2026	Bearish	2 of 100
23 Sep 2026	None	6 of 100
22 Sep 2026	None	14 of 100
21 Sep 2026	None	10 of 100
18 Sep 2026	None	5 of 100
17 Sep 2026	None	13 of 100
16 Sep 2026	None	7 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

ILMN closed at 271.90 on 28 Sep 2026.

Figure	Value
Last close	271.90
Change over 5 trading days	+13.9%
Change over 21 trading days	+19.4%
Change over 63 trading days	+50.1%
Change over 252 trading days	+194.9%
52 week high	277.95
52 week low	88.00
20 day moving average	229.97
50 day moving average	212.50
200 day moving average	159.99
RSI, 14 days	74

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

ILMN reports next on 29 Oct 2026, a date worked out from past quarters.

Figure	Value
Next report	29 Oct 2026, after the close
Date	Worked out from past quarters
Move after the report of 30 Jul 2026	0.0%
Move after the report of 30 Apr 2026	+7.1%
Move after the report of 28 Jan 2026	-0.1%
Move after the report of 8 May 2025	-4.8%

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

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Seasonality

In the 23 Septembers on record, ILMN's average change was plus 1.4 percent, and it rose in 47.8 percent of them.

Month	Average change	Middle change	Share of years up	Years
September	+1.4%	-0.8%	47.8%	23
October	+1.4%	+3.0%	56.5%	23
November	+2.2%	+2.9%	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.

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Headlines

The desk's news feeds carried 1 headline naming ILMN in the 3 days to 28 Sep 2026.

Figure	Value
Headlines in the window	1
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 ILMN's IV rank?: ILMN's IV rank is 94 of 100 on 28 Sep 2026.
What move are ILMN options pricing?: On 28 Sep 2026, ILMN options priced a move of 12.7 percent down and 12.0 percent up by 16 Oct 2026.
Where are ILMN's call wall and put wall?: On 28 Sep 2026, ILMN's call wall and put wall are both at the 230 strike.
What was the latest Trade Card for ILMN on the Free plan?: On 25 Sep 2026 the Trade Card for ILMN was a long put expiring 18 Dec 2026, paper trading.
When does ILMN report earnings next?: ILMN reports next on 29 Oct 2026, a date worked out from past quarters.

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