Information Technology

Lumentum Holdings Inc (LITE) options and signal

Figures as of 28 Sep 2026

LITE is Lumentum Holdings Inc, an Information Technology 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	Bear call spread, 18 Dec	25 Sep
IV rank	87 of 100	28 Sep
At the money IV	69.1%	28 Sep
Priced move to 30 Oct	20.3% down, 20.6% up	28 Sep
Call wall and put wall	1,000 and 900	28 Sep
Signal and the desk's view	Bearish signal, view bearish	25 Sep
Last close	921.32	28 Sep
Next report	5 Nov 2026	28 Sep

Trade Cards

On 25 Sep 2026 the Trade Card for LITE was a bear call spread expiring 18 Dec 2026, paper trading.

Figure	Value
Signal	Bearish, over 45 trading days
Strategy	Bear call spread, credit
Legs	Sell the 1,180 call, Buy the 1,220 call
Expiry	18 Dec 2026, 84 days to expiry
Limit	A credit of at least $7.75
Probability of profit	70%, the option market's odds at expiry, from delta
Max loss	$3,225 per contract
Max profit	$775 per contract
Breakeven	1,187.75
IV rank at that expiry	90 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

LITE's IV rank is 87 of 100 on 28 Sep 2026.

Figure	Value
IV rank	87 of 100
At the money IV	69.1%, near month, 32 days
Put/call ratio, open interest	1.29
Call open interest, strikes captured near the price	32,600 contracts
Put open interest, strikes captured near the price	42,200 contracts
Cost to trade at the money	Tight, 12.3% of the option's mid price

IV rank is where the at the money IV sits among LITE'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, LITE options priced a move of 20.3 percent down and 20.6 percent up by 30 Oct 2026.

Expiry	Days	Down	Up	Range
2 Oct 2026	4	7.9%	7.4%	848.72 to 989.82
9 Oct 2026	11	11.5%	11.9%	815.32 to 1,031.32
23 Oct 2026	25	17.8%	18.0%	757.32 to 1,087.32
30 Oct 2026	32	20.3%	20.6%	734.32 to 1,111.32
20 Nov 2026	53	27.9%	29.5%	664.32 to 1,193.32
18 Dec 2026	81	34.0%	35.7%	608.32 to 1,250.32
19 Feb 2027	144	44.4%	48.5%	512.32 to 1,368.32

The range is one standard deviation either side of the close of 921.32, 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, LITE's call wall is the 1,000 strike and its put wall is the 900 strike.

Figure	Value
Call wall, most open call gamma	1,000
Put wall, most open put gamma	900
Net dollar gamma, calls minus puts	minus $8.45 million
Total dollar gamma, both sides	$140.48 million
Close	921.32

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 13 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, LITE's at the money IV is 69.1 percent against 20 day realized volatility of 75.4 percent.

Figure	Value
At the money IV	69.1%
Realized volatility, 20 trading days	75.4%
Realized volatility, 60 trading days	95.6%
IV against its own weekly record	High, in the top fifth
Weekly readings on record	574, from 7 Aug 2015
Weeks the price moved more than the one week priced move	27.4% 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, LITE's at the money IV runs from 71.7 percent at 4 days to 73.8 percent at 144 days.

Days to expiry	At the money IV
4	71.7%
11	69.1%
18	68.7%
25	68.4%
39	73.7%
53	75.9%
81	74.2%
144	73.8%

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 32 day expiry, LITE's IV ten percent below the price sits 1.1 points above at the money IV.

Strike area	Implied volatility	Against at the money
10% below the price	70.2%	+1.1 points
At the money	69.1%	0.0 points
10% above the price	68.6%	-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, LITE's surface spans 10 expiries out to 144 days, with IV from 66.5 to 76.3 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	250
Lowest IV among them	66.5%
Highest IV among them	76.3%

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, LITE 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	71.7%	9,579	7,002
9 Oct 2026	11	69.1%	930	3,164
16 Oct 2026	18	68.7%	6,437	7,637
23 Oct 2026	25	68.4%	523	986
30 Oct 2026	32	69.1%	587	815
6 Nov 2026	39	73.7%	51	128
20 Nov 2026	53	75.9%	2,762	5,809
18 Dec 2026	81	74.2%	4,648	5,996
15 Jan 2027	109	72.4%	5,963	9,205
19 Feb 2027	144	73.8%	1,101	1,443

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, LITE's largest open interest sits at the 1,000 strike, with 5,606 contracts across the captured expiries.

Strike	Call open interest	Put open interest	Total
1,000	4,379	1,227	5,606
800	937	3,965	4,902
900	1,731	2,799	4,530
850	743	2,593	3,336
950	1,935	1,248	3,183
1,050	397	2,300	2,697

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, LITE's at the money IV moved from 66.9 percent to 69.1 percent.

Figure	25 Sep	28 Sep	Change
At the money IV	66.9%	69.1%	+2.2 points
Open interest, strikes captured near the price	68,974	74,766	+5,792
Put/call ratio, open interest	1.32	1.29	-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, 46,447 LITE option contracts traded, 1.1 times its own recent average.

Figure	Value
Calls traded	25,548
Puts traded	20,899
Against its recent average	1.1 times
Busier than	11 of its last 20 trading days
Open interest, whole chain	198,064 contracts
Volume to open interest	0.23
Unusual volume flag	Yes, 4 contracts traded well above open interest
Largest flagged contract	The 900 call expiring 2 Oct, 654 traded against 209 open

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 LITE'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	820.59	minus $22.24 million	870	800
21 Sep 2026	954.49	$28.36 million	1,000	900
28 Sep 2026	921.32	minus $8.45 million	1,000	900

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 LITE was bearish, paper trading.

Figure	Value
Side	Bearish at 45 trading days, signal on
Level above the close	1,002.00, the swing high of 22 Sep 2026, a close past it runs against the view
Level below the close	832.11, the swing low of 15 Sep 2026
The chart	Sits against the view
Strategy family	Bear call spread (sell a call spread above the price)
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 LITE sat at the 0th percentile of the model's 45 trading day ranking, paper trading.

Timeframe	Percentile	Side
10 trading days	17 of 100	Bearish
20 trading days	1 of 100	Bearish
45 trading days	0 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 LITE 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 LITE's bearish signal had held 4 trading days in a row, paper trading.

Trading day	Signal	45 day percentile
25 Sep 2026	Bearish	0 of 100
24 Sep 2026	Bearish	0 of 100
23 Sep 2026	Bearish	0 of 100
22 Sep 2026	Bearish	0 of 100
21 Sep 2026	None	16 of 100
18 Sep 2026	None	29 of 100
17 Sep 2026	None	19 of 100
16 Sep 2026	Bearish	1 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, 80 of 187 Information Technology names were bullish and 61 were bearish, paper trading.

Sector	Names	Bullish	Bearish	Neutral
Information Technology	187	80	61	46

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

LITE closed at 921.32 on 28 Sep 2026.

Figure	Value
Last close	921.32
Change over 5 trading days	-3.5%
Change over 21 trading days	-3.6%
Change over 63 trading days	+8.2%
Change over 252 trading days	+479.0%
52 week high	1,085.68
52 week low	147.81
20 day moving average	913.01
50 day moving average	862.84
200 day moving average	732.03
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

LITE reports next on 5 Nov 2026, a date worked out from past quarters.

Figure	Value
Next report	5 Nov 2026, after the close
Date	Worked out from past quarters
Move after the report of 11 Aug 2026	+13.6%
Move after the report of 12 May 2026	+3.8%
Move after the report of 11 Feb 2026	+1.6%
Move after the report of 11 Nov 2025	+0.5%

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

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Public Filings

Company insiders reported 0 purchases and 2 sales of LITE in the filings the desk holds.

Filed	Who	Trade	Size
24 Sep 2026	Wupen Yuen, PRESIDENT, GLOBAL BUS. UNITS	Sold	500 shares, $467,875
24 Sep 2026	Wupen Yuen, PRESIDENT, GLOBAL BUS. UNITS	Sold	500 shares, $460,535
4 Sep 2026	. Gilbert Cisneros, member of Congress	Sold	$1,001 to $15,000

Every filing is reproduced as filed, and each one reaches the public days or weeks after the trade.

Filings as of 28 Sep 2026. Current on every plan.

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Short Volume

On 25 Sep 2026, 65.2 percent of LITE's reported volume at the covered venues was marked short.

Figure	Value
Short sale share, 25 Sep	65.2%
Five day average	64.3%
52 week median	43.7%
Short interest, share of shares outstanding	7.3% at the 15 Sep 2026 settlement
Days to cover	1.6

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 11 Septembers on record, LITE's average change was minus 3.0 percent, and it rose in 27.3 percent of them.

Month	Average change	Middle change	Share of years up	Years
September	-3.0%	-4.4%	27.3%	11
October	+1.7%	+0.8%	54.5%	11
November	+12.1%	+9.2%	72.7%	11

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 LITE 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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The Desk Analyst

The Free plan shows the first paragraph of The Desk Analyst's column on LITE for 25 Sep 2026, quoted below.

Lumentum Holdings Inc closed at 941.65.

This price is 29.1% above its 200-day simple moving average of 729.23.

The stock is also above its 5-day average of 941.57, its 20-day average of 911.7, its 50-day average of 859.07, and its 100-day average of 866.84.

Paper trading. Column for 25 Sep 2026, general commentary published the same way to every reader.

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Questions

What is LITE's IV rank?: LITE's IV rank is 87 of 100 on 28 Sep 2026.
What move are LITE options pricing?: On 28 Sep 2026, LITE options priced a move of 20.3 percent down and 20.6 percent up by 30 Oct 2026.
Where are LITE's call wall and put wall?: On 28 Sep 2026, LITE's call wall is the 1,000 strike and its put wall is the 900 strike.
What was the latest Trade Card for LITE on the Free plan?: On 25 Sep 2026 the Trade Card for LITE was a bear call spread expiring 18 Dec 2026, paper trading.
When does LITE report earnings next?: LITE reports next on 5 Nov 2026, a date worked out from past quarters.

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