Communication Services

Meta Platforms Inc (META) options and signal

Figures as of 28 Sep 2026

META is Meta Platforms Inc, a Communication Services 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	83 of 100	28 Sep
At the money IV	45.0%	28 Sep
Priced move to 30 Oct	12.9% down, 13.8% up	28 Sep
Call wall and put wall	Both 700	28 Sep
Signal and the desk's view	No signal, view bearish	25 Sep
Last close	715.62	28 Sep
Next report	28 Oct 2026	28 Sep

Trade Cards

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

Figure	Value
Signal	Neutral
Strategy	Bear call spread, credit
Legs	Sell the 810 call, Buy the 860 call
Expiry	18 Dec 2026, 84 days to expiry
Limit	A credit of at least $13.60
Probability of profit	70%, the option market's odds at expiry, from delta
Max loss	$3,640 per contract
Max profit	$1,360 per contract
Breakeven	823.60
IV rank at that expiry	75 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

META's IV rank is 83 of 100 on 28 Sep 2026.

Figure	Value
IV rank	83 of 100
At the money IV	45.0%, near month, 32 days
Put/call ratio, open interest	0.44
Call open interest, strikes captured near the price	498,000 contracts
Put open interest, strikes captured near the price	218,000 contracts
Cost to trade at the money	Tight, 2.4% of the option's mid price

IV rank is where the at the money IV sits among META'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, META options priced a move of 12.9 percent down and 13.8 percent up by 30 Oct 2026.

Expiry	Days	Down	Up	Range
30 Sep 2026	2	3.1%	3.2%	693.52 to 738.32
2 Oct 2026	4	4.4%	4.7%	684.12 to 749.12
7 Oct 2026	9	6.9%	7.2%	666.12 to 767.32
16 Oct 2026	18	8.3%	8.7%	656.02 to 778.02
23 Oct 2026	25	9.6%	10.2%	646.82 to 788.32
30 Oct 2026	32	12.9%	13.8%	623.62 to 814.42
18 Dec 2026	81	18.2%	20.1%	585.62 to 859.62

The range is one standard deviation either side of the close of 715.62, 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, META's call wall and put wall are both at the 700 strike.

Figure	Value
Call wall, most open call gamma	700
Put wall, most open put gamma	700
Net dollar gamma, calls minus puts	$441.84 million
Total dollar gamma, both sides	$1.7 billion
Close	715.62

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 16 strikes, so no single flip strike is named.

From the option chain at the close on 28 Sep 2026. Current on every plan.

Open Gamma Map in RingMaster The Gamma Map guide

Volatility History

On 28 Sep 2026, META's at the money IV is 45.0 percent against 20 day realized volatility of 54.7 percent.

Figure	Value
At the money IV	45.0%
Realized volatility, 20 trading days	54.7%
Realized volatility, 60 trading days	48.3%
IV against its own weekly record	High, in the top fifth
Weekly readings on record	245, from 16 Jul 2021
Weeks the price moved more than the one week priced move	32.1% of 234 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, META's at the money IV runs from 40.5 percent at 2 days to 40.6 percent at 81 days.

Days to expiry	At the money IV
2	40.5%
4	42.3%
7	37.5%
11	39.5%
18	38.1%
32	45.0%
39	44.6%
81	40.6%

Near and far expiries price about the same volatility, a flat term structure.

From the option chain at the close on 28 Sep 2026. Current on every plan.

Open Volatility Weather in RingMaster The Volatility Weather guide

Volatility Smile

On 28 Sep 2026, at the 32 day expiry, META's IV ten percent below the price sits 2.6 points above at the money IV.

Strike area	Implied volatility	Against at the money
10% below the price	47.6%	+2.6 points
At the money	45.0%	0.0 points
10% above the price	46.1%	+1.2 points

From the option chain at the close on 28 Sep 2026. Current on every plan.

Open Volatility Smile in RingMaster The Volatility Smile guide

Volatility Surface

On 28 Sep 2026, META's surface spans 11 expiries out to 81 days, with IV from 36.9 to 57.0 percent near the price.

Figure	Value
Expiries captured	11
Nearest expiry	30 Sep 2026, 2 days
Farthest expiry	18 Dec 2026, 81 days
Points within 10% of the price, 7 days out or more	303
Lowest IV among them	36.9%
Highest IV among them	57.0%

From the option chain at the close on 28 Sep 2026. Current on every plan.

Open Volatility Surface in RingMaster The Volatility Surface guide

Expiry Ladder

On 28 Sep 2026, META has 11 captured expiries, from 30 Sep 2026 to 18 Dec 2026.

Expiry	Days	At the money IV	Call open interest	Put open interest
30 Sep 2026	2	40.5%	10,614	23,037
2 Oct 2026	4	42.3%	40,539	33,650
5 Oct 2026	7	37.5%	8,136	3,973
7 Oct 2026	9	42.8%	734	469
9 Oct 2026	11	39.5%	13,350	12,219
16 Oct 2026	18	38.1%	168,916	52,519
23 Oct 2026	25	37.7%	13,793	11,043
30 Oct 2026	32	45.0%	11,310	15,519
6 Nov 2026	39	44.6%	1,000	1,183
18 Dec 2026	81	40.6%	88,409	31,124

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, META's largest open interest sits at the 700 strike, with 74,151 contracts across the captured expiries.

Strike	Call open interest	Put open interest	Total
700	51,790	22,361	74,151
800	54,022	1,850	55,872
750	40,901	13,205	54,106
650	18,824	11,053	29,877
760	19,029	6,008	25,037
680	9,982	14,465	24,447

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, META's at the money IV moved from 38.5 percent to 45.0 percent.

Figure	25 Sep	28 Sep	Change
At the money IV	38.5%	45.0%	+6.4 points
Open interest, strikes captured near the price	752,242	715,285	-36,957
Put/call ratio, open interest	0.30	0.44	+0.14

Open interest changes cannot identify buyers or sellers.

From the option chain at the close on 28 Sep 2026. Current on every plan.

Open Since Yesterday in RingMaster The Since Yesterday guide

Changed Hands

On 28 Sep 2026, 541,152 META option contracts traded, 0.6 times its own recent average.

Figure	Value
Calls traded	359,661
Puts traded	181,491
Against its recent average	0.6 times
Busier than	9 of its last 20 trading days
Open interest, whole chain	2.71 million contracts
Volume to open interest	0.20
Unusual volume flag	Yes, 63 contracts traded well above open interest
Largest flagged contract	The 750 call expiring 2 Oct, 12,105 traded against 4,119 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 META'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	599.12	$246.98 million	600	600
21 Sep 2026	741.25	$920.26 million	700	650
28 Sep 2026	715.62	$441.84 million	700	700

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 META was bearish, paper trading.

Figure	Value
Side	Bearish at 45 trading days, no signal
Level above the close	779.82, the swing high of 24 Sep 2026, a close past it runs against the view
Level below the close	660.80, the swing low of 18 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.

Open Read-out in RingMaster The Read-out guide

Rank by Timeframe

On 25 Sep 2026 META sat at the 8th percentile of the model's 45 trading day ranking, paper trading.

Timeframe	Percentile	Side
10 trading days	24 of 100	Neutral
20 trading days	28 of 100	Neutral
45 trading days	8 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.

Open Rank by Timeframe in RingMaster The Rank by Timeframe guide

Timeframe Agreement

On 25 Sep 2026, 1 of 3 timeframes put META on the bearish side, paper trading.

Group	Timeframes	Side	On that side
Near	10 day, 20 day	Neutral	0 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.

Open Timeframe Agreement in RingMaster The Timeframe Agreement guide

Signal History

On 25 Sep 2026 META had carried no signal for 1 trading day, paper trading.

Trading day	Signal	45 day percentile
25 Sep 2026	None	8 of 100
24 Sep 2026	Bearish	2 of 100
23 Sep 2026	Bearish	2 of 100
22 Sep 2026	Bearish	2 of 100
21 Sep 2026	Bearish	4 of 100
18 Sep 2026	None	37 of 100
17 Sep 2026	None	56 of 100
16 Sep 2026	None	11 of 100

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

Open Signal History in RingMaster The Signal History guide

Sector Split

On 25 Sep 2026, 10 of 37 Communication Services names were bullish and 12 were bearish, paper trading.

Sector	Names	Bullish	Bearish	Neutral
Communication Services	37	10	12	15

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

META closed at 715.62 on 28 Sep 2026.

Figure	Value
Last close	715.62
Change over 5 trading days	-3.5%
Change over 21 trading days	+25.3%
Change over 63 trading days	+27.2%
Change over 252 trading days	-4.4%
52 week high	779.82
52 week low	520.26
20 day moving average	667.74
50 day moving average	617.14
200 day moving average	626.77
RSI, 14 days	61

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

META reports next on 28 Oct 2026, a date worked out from past quarters.

Figure	Value
Next report	28 Oct 2026, after the close
Date	Worked out from past quarters
Move after the report of 29 Jul 2026	-8.0%
Move after the report of 29 Apr 2026	-8.6%
Move after the report of 28 Jan 2026	+10.4%
Move after the report of 29 Oct 2025	-11.3%

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

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Public Filings

The filings the desk holds carry 1 recent trade in META shares.

Filed	Who	Trade	Size
10 Sep 2026	. Gilbert Cisneros, member of Congress	Sold part	$1,001 to $15,000

Tracked fund managers listing META among their top holdings: Renaissance Technologies, Pershing Square, Appaloosa and 1 more.

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, 51.7 percent of META's reported volume at the covered venues was marked short.

Figure	Value
Short sale share, 25 Sep	51.7%
Five day average	52.8%
52 week median	38.1%
Short interest, share of shares outstanding	1.2% 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 14 Septembers on record, META's average change was plus 0.8 percent, and it rose in 50.0 percent of them.

Month	Average change	Middle change	Share of years up	Years
September	+0.8%	-0.0%	50.0%	14
October	-2.5%	-0.4%	42.9%	14
November	+4.3%	+1.7%	64.3%	14

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 8 headlines naming META in the 3 days to 28 Sep 2026.

Figure	Value
Headlines in the window	8
Latest	29 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.

Open Headlines in RingMaster The Headlines guide

Questions

What is META's IV rank?: META's IV rank is 83 of 100 on 28 Sep 2026.
What move are META options pricing?: On 28 Sep 2026, META options priced a move of 12.9 percent down and 13.8 percent up by 30 Oct 2026.
Where are META's call wall and put wall?: On 28 Sep 2026, META's call wall and put wall are both at the 700 strike.
What was the latest Trade Card for META on the Free plan?: On 25 Sep 2026 the Trade Card for META was a bear call spread expiring 18 Dec 2026, paper trading.
When does META report earnings next?: META reports next on 28 Oct 2026, a date worked out from past quarters.

More Communication Services names

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