Energy

Cheniere Energy, Inc. (LNG) options and signal

Figures as of 28 Sep 2026

LNG is Cheniere Energy, Inc., an Energy 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 put spread, 20 Nov	25 Sep
IV rank	61 of 100	28 Sep
At the money IV	40.2%	28 Sep
Priced move to 30 Oct	11.1% down, 12.8% up	28 Sep
Call wall and put wall	280 and 260	28 Sep
Signal and the desk's view	Bearish signal, view bearish	25 Sep
Last close	269.65	28 Sep
Next report	29 Oct 2026	28 Sep

Trade Cards

On 25 Sep 2026 the Trade Card for LNG was a bear put spread expiring 20 Nov 2026, paper trading.

Figure	Value
Signal	Bearish, over 20 trading days
Strategy	Bear put spread, debit
Legs	Buy the 270 put, Sell the 250 put
Expiry	20 Nov 2026, 56 days to expiry
Limit	A debit of at most $7.95
Probability of profit	39%, the option market's odds at expiry, from delta
Max loss	$795 per contract
Max profit	$1,205 per contract
Breakeven	262.05
IV rank at that expiry	48 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

LNG's IV rank is 61 of 100 on 28 Sep 2026.

Figure	Value
IV rank	61 of 100
At the money IV	40.2%, near month, 32 days
Put/call ratio, open interest	0.40
Call open interest, strikes captured near the price	44,100 contracts
Put open interest, strikes captured near the price	17,800 contracts
Cost to trade at the money	Fair, 24.2% of the option's mid price

IV rank is where the at the money IV sits among LNG'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, LNG options priced a move of 11.1 percent down and 12.8 percent up by 30 Oct 2026.

Expiry	Days	Down	Up	Range
2 Oct 2026	4	5.2%	5.0%	255.65 to 283.15
9 Oct 2026	11	6.1%	7.1%	253.25 to 288.75
23 Oct 2026	25	9.0%	10.2%	245.35 to 297.15
30 Oct 2026	32	11.1%	12.8%	239.65 to 304.25
20 Nov 2026	53	13.1%	13.9%	234.45 to 307.25
18 Dec 2026	81	15.3%	17.0%	228.35 to 315.45
19 Mar 2027	172	21.3%	26.1%	212.25 to 340.15

The range is one standard deviation either side of the close of 269.65, 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, LNG's call wall is the 280 strike and its put wall is the 260 strike.

Figure	Value
Call wall, most open call gamma	280
Put wall, most open put gamma	260
Net dollar gamma, calls minus puts	$17.12 million
Total dollar gamma, both sides	$36.62 million
Close	269.65

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 2 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, LNG's at the money IV is 40.2 percent against 20 day realized volatility of 29.9 percent.

Figure	Value
At the money IV	40.2%
Realized volatility, 20 trading days	29.9%
Realized volatility, 60 trading days	31.4%
IV against its own weekly record	In the middle
Weekly readings on record	849, from 8 Jan 2010
Weeks the price moved more than the one week priced move	25.4% 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, LNG's at the money IV runs from 47.1 percent at 4 days to 34.5 percent at 172 days.

Days to expiry	At the money IV
4	47.1%
11	42.9%
18	39.2%
25	38.0%
39	38.8%
53	35.9%
81	35.3%
172	34.5%

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, LNG's IV ten percent below the price sits 8.3 points above at the money IV.

Strike area	Implied volatility	Against at the money
10% below the price	48.5%	+8.3 points
At the money	40.2%	0.0 points
10% above the price	43.2%	+3.0 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, LNG's surface spans 10 expiries out to 172 days, with IV from 33.6 to 54.5 percent near the price.

Figure	Value
Expiries captured	10
Nearest expiry	2 Oct 2026, 4 days
Farthest expiry	19 Mar 2027, 172 days
Points within 10% of the price, 7 days out or more	87
Lowest IV among them	33.6%
Highest IV among them	54.5%

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, LNG has 10 captured expiries, from 2 Oct 2026 to 19 Mar 2027.

Expiry	Days	At the money IV	Call open interest	Put open interest
2 Oct 2026	4	47.1%	3,426	776
9 Oct 2026	11	42.9%	1,449	161
16 Oct 2026	18	39.2%	9,516	3,206
23 Oct 2026	25	38.0%	257	157
30 Oct 2026	32	40.2%	238	63
6 Nov 2026	39	38.8%	26	10
20 Nov 2026	53	35.9%	4,021	2,617
18 Dec 2026	81	35.3%	2,949	1,425
15 Jan 2027	109	34.8%	20,389	8,720
19 Mar 2027	172	34.5%	1,799	691

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, LNG's largest open interest sits at the 260 strike, with 6,400 contracts across the captured expiries.

Strike	Call open interest	Put open interest	Total
260	4,085	2,315	6,400
280	5,660	457	6,117
240	4,189	1,461	5,650
290	4,967	534	5,501
300	4,659	753	5,412
310	4,897	10	4,907

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, LNG's at the money IV moved from 37.3 percent to 40.2 percent.

Figure	25 Sep	28 Sep	Change
At the money IV	37.3%	40.2%	+2.9 points
Open interest, strikes captured near the price	61,317	61,896	+579
Put/call ratio, open interest	0.40	0.40	+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.

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Changed Hands

On 28 Sep 2026, 5,473 LNG option contracts traded, 0.8 times its own recent average.

Figure	Value
Calls traded	4,209
Puts traded	1,264
Against its recent average	0.8 times
Busier than	4 of its last 20 trading days
Open interest, whole chain	72,182 contracts
Volume to open interest	0.08
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 LNG'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	265.43	$22.96 million	280	250
21 Sep 2026	274.98	$10.75 million	280	260
28 Sep 2026	269.65	$17.12 million	280	260

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 LNG was bearish, paper trading.

Figure	Value
Side	Bearish at 20 trading days, signal on
Level above the close	274.48, the swing high of 8 Sep 2026, a close past it runs against the view
Level below the close	264.36, the swing low of 17 Sep 2026
The chart	Sits against the view
Strategy family	Bear put spread (buy a put 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.

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Rank by Timeframe

On 25 Sep 2026 LNG sat at the 1st percentile of the model's 45 trading day ranking, paper trading.

Timeframe	Percentile	Side
10 trading days	2 of 100	Bearish
20 trading days	1 of 100	Bearish
45 trading days	1 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 LNG 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 LNG's bearish signal had held 2 trading days in a row, paper trading.

Trading day	Signal	45 day percentile
25 Sep 2026	Bearish	1 of 100
24 Sep 2026	Bearish	3 of 100
23 Sep 2026	None	5 of 100
22 Sep 2026	None	7 of 100
21 Sep 2026	Bearish	1 of 100
18 Sep 2026	Bearish	4 of 100
17 Sep 2026	Bearish	3 of 100
16 Sep 2026	Bearish	4 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, 17 of 56 Energy names were bullish and 33 were bearish, paper trading.

Sector	Names	Bullish	Bearish	Neutral
Energy	56	17	33	6

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

LNG closed at 269.65 on 28 Sep 2026.

Figure	Value
Last close	269.65
Change over 5 trading days	-1.9%
Change over 21 trading days	-4.0%
Change over 63 trading days	+10.5%
Change over 252 trading days	+13.5%
52 week high	300.89
52 week low	186.20
20 day moving average	277.99
50 day moving average	271.85
200 day moving average	245.31
RSI, 14 days	45

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

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

Figure	Value
Next report	29 Oct 2026, before the open
Date	Worked out from past quarters
Move after the report of 6 Aug 2026	+4.3%
Move after the report of 30 Apr 2026	-1.8%
Move after the report of 28 Jan 2026	+2.4%
Move after the report of 8 May 2025	-0.6%

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

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Seasonality

In the 23 Septembers on record, LNG's average change was minus 0.9 percent, and it rose in 65.2 percent of them.

Month	Average change	Middle change	Share of years up	Years
September	-0.9%	+3.6%	65.2%	23
October	+9.5%	+3.5%	65.2%	23
November	+8.1%	-0.5%	47.8%	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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The Desk Analyst

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

The close is 268.54, which is 9.6% above the 200-day simple moving average of 244.95.

The price is below the 5-day average of 273.27, the 20-day average of 278.63, and the 50-day average of 271.71.

It remains above the 100-day average of 257.23.

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

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Questions

What is LNG's IV rank?: LNG's IV rank is 61 of 100 on 28 Sep 2026.
What move are LNG options pricing?: On 28 Sep 2026, LNG options priced a move of 11.1 percent down and 12.8 percent up by 30 Oct 2026.
Where are LNG's call wall and put wall?: On 28 Sep 2026, LNG's call wall is the 280 strike and its put wall is the 260 strike.
What was the latest Trade Card for LNG on the Free plan?: On 25 Sep 2026 the Trade Card for LNG was a bear put spread expiring 20 Nov 2026, paper trading.
When does LNG report earnings next?: LNG reports next on 29 Oct 2026, a date worked out from past quarters.

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