Industrials

Intuitive Machines, Inc. (LUNR) options and signal

Figures as of 28 Sep 2026

LUNR is Intuitive Machines, Inc., an Industrials 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
IV rank	16 of 100	28 Sep
At the money IV	82.0%	28 Sep
Priced move to 30 Oct	22.8% down, 24.3% up	28 Sep
Call wall and put wall	Both 20	28 Sep
Signal and the desk's view	No signal, view neutral	25 Sep
Last close	15.20	28 Sep
Next report	10 Nov 2026	28 Sep

Options Snapshot

LUNR's IV rank is 16 of 100 on 28 Sep 2026.

Figure	Value
IV rank	16 of 100
At the money IV	82.0%, near month, 32 days
Put/call ratio, open interest	0.80
Call open interest, strikes captured near the price	102,000 contracts
Put open interest, strikes captured near the price	81,400 contracts
Cost to trade at the money	Fair, 23.6% of the option's mid price

IV rank is where the at the money IV sits among LUNR'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, LUNR options priced a move of 22.8 percent down and 24.3 percent up by 30 Oct 2026.

Expiry	Days	Down	Up	Range
2 Oct 2026	4	8.8%	9.1%	13.87 to 16.58
9 Oct 2026	11	13.0%	14.1%	13.22 to 17.35
23 Oct 2026	25	21.0%	21.6%	12.01 to 18.49
30 Oct 2026	32	22.8%	24.3%	11.73 to 18.89
20 Nov 2026	53	32.6%	35.3%	10.25 to 20.56
18 Dec 2026	81	39.5%	43.7%	9.20 to 21.84
19 Mar 2027	172	58.5%	66.4%	6.31 to 25.30

The range is one standard deviation either side of the close of 15.20, 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, LUNR's call wall and put wall are both at the 20 strike.

Figure	Value
Call wall, most open call gamma	20
Put wall, most open put gamma	20
Net dollar gamma, calls minus puts	$304,733
Total dollar gamma, both sides	$2.67 million
Close	15.20

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 7 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, LUNR's at the money IV is 82.0 percent against 20 day realized volatility of 71.8 percent.

Figure	Value
At the money IV	82.0%
Realized volatility, 20 trading days	71.8%
Realized volatility, 60 trading days	78.7%
IV against its own weekly record	Low, in the bottom fifth
Weekly readings on record	108, from 1 Mar 2024
Weeks the price moved more than the one week priced move	23.4% of 107 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, LUNR's at the money IV runs from 84.8 percent at 4 days to 93.5 percent at 172 days.

Days to expiry	At the money IV
4	84.8%
11	81.6%
18	80.6%
25	80.9%
39	88.5%
53	89.4%
81	89.5%
172	93.5%

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, LUNR's IV ten percent below the price sits 0.2 points above at the money IV.

Strike area	Implied volatility	Against at the money
10% below the price	82.2%	+0.2 points
At the money	82.0%	0.0 points
10% above the price	81.4%	-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, LUNR's surface spans 10 expiries out to 172 days, with IV from 76.8 to 92.5 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	40
Lowest IV among them	76.8%
Highest IV among them	92.5%

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, LUNR 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	84.8%	8,184	6,537
9 Oct 2026	11	81.6%	5,982	2,458
16 Oct 2026	18	80.6%	13,746	9,019
23 Oct 2026	25	80.9%	2,570	917
30 Oct 2026	32	82.0%	1,675	2,020
6 Nov 2026	39	88.5%	40	15
20 Nov 2026	53	89.4%	2,558	808
18 Dec 2026	81	89.5%	15,547	9,289
15 Jan 2027	109	88.7%	46,738	46,724
19 Mar 2027	172	93.5%	5,028	3,591

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, LUNR's largest open interest sits at the 20 strike, with 48,026 contracts across the captured expiries.

Strike	Call open interest	Put open interest	Total
20	22,232	25,794	48,026
10	7,849	6,266	14,115
12	3,651	10,252	13,903
15	6,810	4,621	11,431
17	7,133	2,556	9,689
18	5,722	1,907	7,629

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, LUNR's at the money IV moved from 76.5 percent to 82.0 percent.

Figure	25 Sep	28 Sep	Change
At the money IV	76.5%	82.0%	+5.4 points
Open interest, strikes captured near the price	179,291	183,446	+4,155
Put/call ratio, open interest	0.81	0.80	-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, 29,399 LUNR option contracts traded, 1.3 times its own recent average.

Figure	Value
Calls traded	13,946
Puts traded	15,453
Against its recent average	1.3 times
Busier than	19 of its last 20 trading days
Open interest, whole chain	229,574 contracts
Volume to open interest	0.13
Unusual volume flag	Yes, 4 contracts traded well above open interest
Largest flagged contract	The 15.5 put expiring 2 Oct, 8,480 traded against 178 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 LUNR'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	16.48	$451,514	18	18
21 Sep 2026	15.72	$229,068	16	14
28 Sep 2026	15.20	$304,733	20	20

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 LUNR was neutral, paper trading.

Figure	Value
Side	Neutral at 45 trading days, no signal
Level above the close	16.03, the swing high of 9 Sep 2026
Level below the close	14.87, the swing low of 24 Sep 2026
Strategy family	Long straddle (buy a call and a put at the same strike)
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 LUNR sat at the 20th percentile of the model's 45 trading day ranking, paper trading.

Timeframe	Percentile	Side
10 trading days	64 of 100	Neutral
20 trading days	32 of 100	Neutral
45 trading days	20 of 100	Neutral

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 LUNR's near timeframes were neutral and its long timeframe was neutral, paper trading.

Group	Timeframes	Side	On that side
Near	10 day, 20 day	Neutral	0 of 2
Long	45 day	Neutral	0 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 LUNR had carried no signal for 12 trading days, paper trading.

Trading day	Signal	45 day percentile
25 Sep 2026	None	20 of 100
24 Sep 2026	None	35 of 100
23 Sep 2026	None	11 of 100
22 Sep 2026	None	14 of 100
21 Sep 2026	None	66 of 100
18 Sep 2026	None	72 of 100
17 Sep 2026	None	39 of 100
16 Sep 2026	None	28 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, 51 of 147 Industrials names were bullish and 37 were bearish, paper trading.

Sector	Names	Bullish	Bearish	Neutral
Industrials	147	51	37	59

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

LUNR closed at 15.20 on 28 Sep 2026.

Figure	Value
Last close	15.20
Change over 5 trading days	-3.3%
Change over 21 trading days	-6.1%
Change over 63 trading days	-27.5%
Change over 252 trading days	+50.5%
52 week high	46.75
52 week low	7.78
20 day moving average	14.90
50 day moving average	15.25
200 day moving average	20.17
RSI, 14 days	49

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

LUNR reports next on 10 Nov 2026, a date worked out from past quarters.

Figure	Value
Next report	10 Nov 2026, before the open
Date	Worked out from past quarters
Move after the report of 13 Aug 2026	+3.6%
Move after the report of 14 May 2026	-7.2%
Move after the report of 13 Feb 2026	+3.0%
Move after the report of 13 Nov 2025	+10.1%

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

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Seasonality

In the 3 Septembers on record, LUNR's average change was plus 19.5 percent, and it rose in 66.7 percent of them.

Month	Average change	Middle change	Share of years up	Years
September	+19.5%	+19.9%	66.7%	3
October	-1.8%	-1.3%	50.0%	4
November	+21.3%	-2.0%	50.0%	4

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 LUNR in the 3 days to 28 Sep 2026.

Figure	Value
Headlines in the window	1
Latest	26 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 LUNR's IV rank?: LUNR's IV rank is 16 of 100 on 28 Sep 2026.
What move are LUNR options pricing?: On 28 Sep 2026, LUNR options priced a move of 22.8 percent down and 24.3 percent up by 30 Oct 2026.
Where are LUNR's call wall and put wall?: On 28 Sep 2026, LUNR's call wall and put wall are both at the 20 strike.
What was the desk's latest view of LUNR on the Free plan?: On 25 Sep 2026 the desk's view of LUNR was neutral, paper trading.
When does LUNR report earnings next?: LUNR reports next on 10 Nov 2026, a date worked out from past quarters.

More Industrials names

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