Financials

Markel Group Inc. (MKL) options and signal

Figures as of 28 Sep 2026

MKL is Markel Group Inc., a Financials 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	56 of 100	28 Sep
At the money IV	19.3%	28 Sep
Priced move to 16 Oct	4.2% down, 6.8% up	28 Sep
Call wall and put wall	1,940 and 1,720	28 Sep
Signal and the desk's view	No signal, view bullish	25 Sep
Last close	1,740.40	28 Sep
Next report	28 Oct 2026	28 Sep

Options Snapshot

MKL's IV rank is 56 of 100 on 28 Sep 2026.

Figure	Value
IV rank	56 of 100
At the money IV	19.3%, near month, 18 days
Put/call ratio, open interest	0.40
Call open interest, strikes captured near the price	508 contracts
Put open interest, strikes captured near the price	205 contracts

IV rank is where the at the money IV sits among MKL'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, MKL options priced a move of 4.2 percent down and 6.8 percent up by 16 Oct 2026.

Expiry	Days	Down	Up	Range
16 Oct 2026	18	4.2%	6.8%	1,666.50 to 1,859.40
20 Nov 2026	53	8.2%	8.4%	1,597.40 to 1,887.40
15 Jan 2027	109	10.7%	12.5%	1,554.40 to 1,957.40
16 Apr 2027	200	13.4%	17.4%	1,507.40 to 2,043.40

The range is one standard deviation either side of the close of 1,740.40, 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.

Open Priced Range in RingMaster The Priced Range guide

Gamma Map

On 28 Sep 2026, MKL's call wall is the 1,940 strike and its put wall is the 1,720 strike.

Figure	Value
Call wall, most open call gamma	1,940
Put wall, most open put gamma	1,720
Flip strike, where net gamma changes sign	1,729.97
Net dollar gamma, calls minus puts	minus $852,574
Total dollar gamma, both sides	$4.13 million
Close	1,740.40

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.

Open Gamma Map in RingMaster The Gamma Map guide

Volatility History

On 28 Sep 2026, MKL's at the money IV is 19.3 percent against 20 day realized volatility of 13.1 percent.

Figure	Value
At the money IV	19.3%
Realized volatility, 20 trading days	13.1%
Realized volatility, 60 trading days	19.4%
IV against its own weekly record	In the middle
Weekly readings on record	669, from 22 Jun 2012
Weeks the price moved more than the one week priced move	27.5% 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.

Open Volatility History in RingMaster The Volatility History guide

Volatility Weather

On 28 Sep 2026, MKL's at the money IV runs from 19.3 percent at 18 days to 19.4 percent at 200 days.

Days to expiry	At the money IV
18	19.3%
53	21.6%
109	42.3%
200	19.4%

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.

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Volatility Surface

On 28 Sep 2026, MKL's surface spans 4 expiries out to 200 days, with IV from 17.2 to 68.4 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	51
Lowest IV among them	17.2%
Highest IV among them	68.4%

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, MKL 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	19.3%	127	136
20 Nov 2026	53	21.6%	6	8
15 Jan 2027	109	42.3%	310	57
16 Apr 2027	200	19.4%	65	4

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, MKL's largest open interest sits at the 1,720 strike, with 60 contracts across the captured expiries.

Strike	Call open interest	Put open interest	Total
1,720	3	57	60
2,060	56	0	56
2,200	55	0	55
1,700	0	51	51
2,300	50	0	50
1,940	36	0	36

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, MKL's at the money IV moved from 18.2 percent to 19.3 percent.

Figure	25 Sep	28 Sep	Change
At the money IV	18.2%	19.3%	+1.1 points
Open interest, strikes captured near the price	746	713	-33
Put/call ratio, open interest	0.36	0.40	+0.04

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, 463 MKL option contracts traded, 1.0 times its own recent average.

Figure	Value
Calls traded	373
Puts traded	90
Against its recent average	1.0 times
Busier than	15 of its last 18 trading days
Open interest, whole chain	976 contracts
Volume to open interest	0.47
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 22 trading days of MKL's option positioning, from 12 Aug 2026 to 28 Sep 2026.

Date	Close	Net dollar gamma	Top call strike	Top put strike
12 Aug 2026	1,842.46	$328,147	1,940	1,740
21 Sep 2026	1,774.64	minus $104,890	1,940	1,720
28 Sep 2026	1,740.40	minus $852,574	1,940	1,720

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 MKL was bullish, paper trading.

Figure	Value
Side	Bullish at 45 trading days, no signal
Level above the close	1,767.60, the swing high of 10 Sep 2026
Level below the close	1,716.00, the swing low of 25 Sep 2026, a close past it runs against the view
The chart	Sits against the view
Strategy family	Cash-secured put (sell a put below 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 MKL sat at the 72nd percentile of the model's 45 trading day ranking, paper trading.

Timeframe	Percentile	Side
10 trading days	30 of 100	Neutral
20 trading days	45 of 100	Neutral
45 trading days	72 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 MKL'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.

Open Timeframe Agreement in RingMaster The Timeframe Agreement guide

Signal History

On 25 Sep 2026 MKL had carried no signal for at least 18 trading days, paper trading.

Trading day	Signal	45 day percentile
25 Sep 2026	None	72 of 100
24 Sep 2026	None	41 of 100
23 Sep 2026	None	39 of 100
22 Sep 2026	None	30 of 100
21 Sep 2026	None	44 of 100
18 Sep 2026	None	45 of 100
17 Sep 2026	None	75 of 100
16 Sep 2026	None	45 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, 63 of 135 Financials names were bullish and 32 were bearish, paper trading.

Sector	Names	Bullish	Bearish	Neutral
Financials	135	63	32	40

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

Open Sector Split in RingMaster The Sector Split guide

Price Chart

MKL closed at 1,740.40 on 28 Sep 2026.

Figure	Value
Last close	1,740.40
Change over 5 trading days	-1.9%
Change over 21 trading days	-3.6%
Change over 63 trading days	-11.0%
Change over 252 trading days	-8.6%
52 week high	2,207.59
52 week low	1,716.00
20 day moving average	1,782.31
50 day moving average	1,839.69
200 day moving average	1,937.15
RSI, 14 days	34

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

MKL reports next on 28 Oct 2026, a date confirmed by the company.

Figure	Value
Next report	28 Oct 2026, after the close
Date	Confirmed by the company
Move after the report of 29 Jul 2026	-6.4%
Move after the report of 30 Apr 2026	+0.4%
Move after the report of 28 Jan 2026	+0.5%
Move after the report of 30 Apr 2025	+0.3%

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

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Seasonality

In the 23 Septembers on record, MKL's average change was minus 0.7 percent, and it rose in 43.5 percent of them.

Month	Average change	Middle change	Share of years up	Years
September	-0.7%	-0.4%	43.5%	23
October	+1.5%	-0.1%	47.8%	23
November	+2.1%	+2.4%	73.9%	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.

Open Seasonality in RingMaster The Seasonality guide

Questions

What is MKL's IV rank?: MKL's IV rank is 56 of 100 on 28 Sep 2026.
What move are MKL options pricing?: On 28 Sep 2026, MKL options priced a move of 4.2 percent down and 6.8 percent up by 16 Oct 2026.
Where are MKL's call wall and put wall?: On 28 Sep 2026, MKL's call wall is the 1,940 strike and its put wall is the 1,720 strike.
What was the desk's latest view of MKL on the Free plan?: On 25 Sep 2026 the desk's view of MKL was bullish, paper trading.
When does MKL report earnings next?: MKL reports next on 28 Oct 2026, a date confirmed by the company.

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