Financials

MarketAxess Holdings Inc. (MKTX) options and signal

Figures as of 28 Sep 2026

MKTX is MarketAxess Holdings 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	0 of 100	28 Sep
At the money IV	10.5%	28 Sep
Priced move to 16 Oct	2.3% down, 2.3% up	28 Sep
Call wall and put wall	170 and 160	28 Sep
Signal and the desk's view	No signal, view bearish	25 Sep
Last close	163.94	28 Sep
Next report	5 Nov 2026	28 Sep

Options Snapshot

MKTX's IV rank is 0 of 100 on 28 Sep 2026.

Figure	Value
IV rank	0 of 100
At the money IV	10.5%, near month, 18 days
Put/call ratio, open interest	0.26
Call open interest, strikes captured near the price	776 contracts
Put open interest, strikes captured near the price	202 contracts

IV rank is where the at the money IV sits among MKTX'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, MKTX options priced a move of 2.3 percent down and 2.3 percent up by 16 Oct 2026.

Expiry	Days	Down	Up	Range
16 Oct 2026	18	2.3%	2.3%	160.11 to 167.77
20 Nov 2026	53	72.6%	4.8%	44.94 to 171.86
19 Feb 2027	144	6.5%	7.6%	153.24 to 176.34

The range is one standard deviation either side of the close of 163.94, as the option prices imply it.

A priced move restates option prices at the close and says nothing certain about where the price goes.

Thin quote at that expiry; its neighbours' reading stands in.

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, MKTX's call wall is the 170 strike and its put wall is the 160 strike.

Figure	Value
Call wall, most open call gamma	170
Put wall, most open put gamma	160
Net dollar gamma, calls minus puts	$477,182
Total dollar gamma, both sides	$754,831
Close	163.94

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.

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Volatility History

On 28 Sep 2026, MKTX's at the money IV is 10.5 percent against 20 day realized volatility of 1.9 percent.

Figure	Value
At the money IV	10.5%
Realized volatility, 20 trading days	1.9%
Realized volatility, 60 trading days	54.6%
IV against its own weekly record	Low, in the bottom fifth
Weekly readings on record	773, from 10 Jun 2011
Weeks the price moved more than the one week priced move	25.0% 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, MKTX's at the money IV runs from 10.5 percent at 18 days to 12.0 percent at 144 days.

Days to expiry	At the money IV
18	10.5%
53	12.7%
144	12.0%

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 53 day expiry, MKTX's IV ten percent below the price sits 6.4 points below at the money IV.

Strike area	Implied volatility	Against at the money
10% below the price	6.2%	-6.4 points
At the money	12.7%	0.0 points
10% above the price	29.0%	+16.3 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, MKTX's surface spans 3 expiries out to 144 days, with IV from 3.7 to 107.5 percent near the price.

Figure	Value
Expiries captured	3
Nearest expiry	16 Oct 2026, 18 days
Farthest expiry	19 Feb 2027, 144 days
Points within 10% of the price, 7 days out or more	17
Lowest IV among them	3.7%
Highest IV among them	107.5%

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, MKTX has 3 captured expiries, from 16 Oct 2026 to 19 Feb 2027.

Expiry	Days	At the money IV	Call open interest	Put open interest
16 Oct 2026	18	10.5%	5	33
20 Nov 2026	53	12.7%	301	101
19 Feb 2027	144	12.0%	470	68

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, MKTX's largest open interest sits at the 170 strike, with 438 contracts across the captured expiries.

Strike	Call open interest	Put open interest	Total
170	438	0	438
160	226	118	344
140	28	50	78
165	35	0	35
145	7	25	32
155	9	8	17

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, MKTX's at the money IV moved from 9.1 percent to 10.5 percent.

Figure	25 Sep	28 Sep	Change
At the money IV	9.1%	10.5%	+1.4 points
Open interest, strikes captured near the price	976	978	+2
Put/call ratio, open interest	0.26	0.26	-0.00

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, 229 MKTX option contracts traded, 0.4 times its own recent average.

Figure	Value
Calls traded	110
Puts traded	119
Against its recent average	0.4 times
Busier than	1 of its last 18 trading days
Open interest, whole chain	1,707 contracts
Volume to open interest	0.13
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 19 trading days of MKTX's option positioning, from 1 Sep 2026 to 28 Sep 2026.

Date	Close	Net dollar gamma	Top call strike	Top put strike
1 Sep 2026	162.65	$1.32 million	170	160
21 Sep 2026	163.44	$501,354	170	160
28 Sep 2026	163.94	$477,182	170	160

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 MKTX was bearish, paper trading.

Figure	Value
Side	Bearish at 45 trading days, no signal
Level above the close	164.20, the swing high of 25 Sep 2026, a close past it runs against the view
Level below the close	163.60, the swing low of 4 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 MKTX sat at the 2nd percentile of the model's 45 trading day ranking, paper trading.

Timeframe	Percentile	Side
10 trading days	0 of 100	Bearish
20 trading days	0 of 100	Bearish
45 trading days	2 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 MKTX 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 MKTX had carried no signal for at least 18 trading days, paper trading.

Trading day	Signal	45 day percentile
25 Sep 2026	None	2 of 100
24 Sep 2026	None	2 of 100
23 Sep 2026	None	4 of 100
22 Sep 2026	None	5 of 100
21 Sep 2026	None	1 of 100
18 Sep 2026	None	2 of 100
17 Sep 2026	None	2 of 100
16 Sep 2026	None	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, 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.

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Price Chart

MKTX closed at 163.94 on 28 Sep 2026.

Figure	Value
Last close	163.94
Change over 5 trading days	+0.3%
Change over 21 trading days	+0.9%
Change over 63 trading days	+49.1%
Change over 252 trading days	-8.0%
52 week high	195.97
52 week low	108.75
20 day moving average	163.33
50 day moving average	155.54
200 day moving average	156.97
RSI, 14 days	79

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

MKTX reports next on 5 Nov 2026, a date confirmed by the company.

Figure	Value
Next report	5 Nov 2026, before the open
Date	Confirmed by the company
Move after the report of 29 Jul 2026	+29.4%
Move after the report of 30 Apr 2026	-2.8%
Move after the report of 28 Jan 2026	+0.0%
Move after the report of 7 May 2025	-0.3%

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

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Seasonality

In the 21 Septembers on record, MKTX's average change was minus 1.6 percent, and it rose in 38.1 percent of them.

Month	Average change	Middle change	Share of years up	Years
September	-1.6%	-3.0%	38.1%	21
October	+2.5%	+4.5%	61.9%	21
November	+4.0%	+3.8%	71.4%	21

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 MKTX in the 3 days to 28 Sep 2026.

Figure	Value
Headlines in the window	1
Latest	27 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 MKTX for 25 Sep 2026, quoted below.

The close of 164.19 is 4.6% above the 200-day simple moving average of 157.02.

Other moving averages are the SMA5 at 163.71, SMA20 at 163.27, SMA50 at 154.54, and SMA100 at 140.01.

The 52-week high is 195.97, which is 16.2% above the current close, and the 52-week low is 108.75.

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

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Questions

What is MKTX's IV rank?: MKTX's IV rank is 0 of 100 on 28 Sep 2026.
What move are MKTX options pricing?: On 28 Sep 2026, MKTX options priced a move of 2.3 percent down and 2.3 percent up by 16 Oct 2026.
Where are MKTX's call wall and put wall?: On 28 Sep 2026, MKTX's call wall is the 170 strike and its put wall is the 160 strike.
What was the desk's latest view of MKTX on the Free plan?: On 25 Sep 2026 the desk's view of MKTX was bearish, paper trading.
When does MKTX report earnings next?: MKTX reports next on 5 Nov 2026, a date confirmed by the company.

More Financials names

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