Options

IRDM options

Figures as of 28 Sep 2026

The options figures are from the close on 28 Sep 2026.

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At a glance

Figure	Value	Date
IV rank	13 of 100	28 Sep
At the money IV	39.5%	28 Sep
Priced move to 16 Oct	9.4% down, 8.5% up	28 Sep
Call wall and put wall	50 and 45	28 Sep
Last close	48.33	28 Sep

Options Snapshot

IRDM's IV rank is 13 of 100 on 28 Sep 2026.

Figure	Value
IV rank	13 of 100
At the money IV	39.5%, near month, 18 days
Put/call ratio, open interest	0.43
Call open interest, strikes captured near the price	8,690 contracts
Put open interest, strikes captured near the price	3,760 contracts
Cost to trade at the money	Wide, 54.0% of the option's mid price

IV rank is where the at the money IV sits among IRDM'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, IRDM options priced a move of 9.4 percent down and 8.5 percent up by 16 Oct 2026.

Expiry	Days	Down	Up	Range
16 Oct 2026	18	9.4%	8.5%	43.79 to 52.42
20 Nov 2026	53	16.1%	17.3%	40.53 to 56.69
15 Jan 2027	109	22.8%	25.5%	37.33 to 60.63
16 Apr 2027	200	27.3%	36.4%	35.13 to 65.93

The range is one standard deviation either side of the close of 48.33, 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, IRDM's call wall is the 50 strike and its put wall is the 45 strike.

Figure	Value
Call wall, most open call gamma	50
Put wall, most open put gamma	45
Flip strike, where net gamma changes sign	45.52
Net dollar gamma, calls minus puts	$537,175
Total dollar gamma, both sides	$1.13 million
Close	48.33

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, IRDM's at the money IV is 39.5 percent against 20 day realized volatility of 20.0 percent.

Figure	Value
At the money IV	39.5%
Realized volatility, 20 trading days	20.0%
Realized volatility, 60 trading days	29.9%
IV against its own weekly record	Low, in the bottom fifth
Weekly readings on record	827, from 8 Jan 2010
Weeks the price moved more than the one week priced move	17.0% of 235 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, IRDM's at the money IV runs from 39.5 percent at 18 days to 45.0 percent at 200 days.

Days to expiry	At the money IV
18	39.5%
53	44.4%
109	44.9%
200	45.0%

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, IRDM's IV ten percent below the price sits 4.9 points above at the money IV.

Strike area	Implied volatility	Against at the money
10% below the price	49.3%	+4.9 points
At the money	44.4%	0.0 points
10% above the price	46.3%	+1.9 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, IRDM's surface spans 4 expiries out to 200 days, with IV from 43.8 to 49.3 percent near the price.

Figure	Value
Expiries captured	4
Nearest expiry	16 Oct 2026, 18 days
Farthest expiry	16 Apr 2027, 200 days
Points within 10% of the price, 7 days out or more	8
Lowest IV among them	43.8%
Highest IV among them	49.3%

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, IRDM has 4 captured expiries, from 16 Oct 2026 to 16 Apr 2027.

Expiry	Days	At the money IV	Call open interest	Put open interest
16 Oct 2026	18	39.5%	4,215	1,439
20 Nov 2026	53	44.4%	153	31
15 Jan 2027	109	44.9%	4,268	2,290
16 Apr 2027	200	45.0%	56	3

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, IRDM's largest open interest sits at the 55 strike, with 2,727 contracts across the captured expiries.

Strike	Call open interest	Put open interest	Total
55	2,518	209	2,727
45	1,103	1,515	2,618
50	1,923	461	2,384
40	599	1,244	1,843
60	1,785	0	1,785
30	75	214	289

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, IRDM's at the money IV moved from 44.9 percent to 39.5 percent.

Figure	25 Sep	28 Sep	Change
At the money IV	44.9%	39.5%	-5.4 points
Open interest, strikes captured near the price	12,486	12,455	-31
Put/call ratio, open interest	0.43	0.43	+0.00

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, 414 IRDM option contracts traded, 0.8 times its own recent average.

Figure	Value
Calls traded	280
Puts traded	134
Against its recent average	0.8 times
Open interest, whole chain	14,756 contracts
Volume to open interest	0.03
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 3 trading days of IRDM's option positioning, from 24 Sep 2026 to 28 Sep 2026.

Date	Close	Net dollar gamma	Top call strike	Top put strike
24 Sep 2026	48.89	$586,676	50	45
28 Sep 2026	48.33	$537,175	50	45

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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Price Chart

IRDM closed at 48.33 on 28 Sep 2026.

Figure	Value
Last close	48.33
Change over 5 trading days	+0.2%
Change over 21 trading days	+1.4%
Change over 63 trading days	-11.5%
Change over 252 trading days	+177.3%
52 week high	57.18
52 week low	15.65
20 day moving average	47.50
50 day moving average	47.77
200 day moving average	36.40
RSI, 14 days	54

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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Questions

What is IRDM's IV rank?: IRDM's IV rank is 13 of 100 on 28 Sep 2026.
What move are IRDM options pricing?: On 28 Sep 2026, IRDM options priced a move of 9.4 percent down and 8.5 percent up by 16 Oct 2026.
Where are IRDM's call wall and put wall?: On 28 Sep 2026, IRDM's call wall is the 50 strike and its put wall is the 45 strike.

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