Communication Services

Madison Square Garden Sports Corp. (MSGS) options and signal

Figures as of 28 Sep 2026

MSGS is Madison Square Garden Sports Corp., 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
IV rank	73 of 100	28 Sep
At the money IV	29.1%	28 Sep
Priced move to 16 Oct	7.1% down, 6.0% up	28 Sep
Call wall and put wall	430 and 350	28 Sep
Signal and the desk's view	No signal, view bearish	25 Sep
Last close	416.34	28 Sep
Next report	30 Oct 2026	28 Sep

Options Snapshot

MSGS's IV rank is 73 of 100 on 28 Sep 2026.

Figure	Value
IV rank	73 of 100
At the money IV	29.1%, near month, 18 days
Put/call ratio, open interest	0.63
Call open interest, strikes captured near the price	8,430 contracts
Put open interest, strikes captured near the price	5,300 contracts
Cost to trade at the money	Fair, 22.8% of the option's mid price

IV rank is where the at the money IV sits among MSGS'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, MSGS options priced a move of 7.1 percent down and 6.0 percent up by 16 Oct 2026.

Expiry	Days	Down	Up	Range
16 Oct 2026	18	7.1%	6.0%	386.94 to 441.24
20 Nov 2026	53	11.6%	12.0%	368.24 to 466.44
19 Feb 2027	144	16.8%	19.4%	346.44 to 497.14

The range is one standard deviation either side of the close of 416.34, 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, MSGS's call wall is the 430 strike and its put wall is the 350 strike.

Figure	Value
Call wall, most open call gamma	430
Put wall, most open put gamma	350
Net dollar gamma, calls minus puts	$7.92 million
Total dollar gamma, both sides	$15.47 million
Close	416.34

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 3 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, MSGS's at the money IV is 29.1 percent against 20 day realized volatility of 17.6 percent.

Figure	Value
At the money IV	29.1%
Realized volatility, 20 trading days	17.6%
Realized volatility, 60 trading days	22.9%
IV against its own weekly record	In the middle
Weekly readings on record	310, from 1 May 2020
Weeks the price moved more than the one week priced move	27.1% 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, MSGS's at the money IV runs from 29.1 percent at 18 days to 30.4 percent at 144 days.

Days to expiry	At the money IV
18	29.1%
53	30.2%
144	30.4%

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, MSGS's IV ten percent below the price sits 5.0 points above at the money IV.

Strike area	Implied volatility	Against at the money
10% below the price	35.2%	+5.0 points
At the money	30.2%	0.0 points
10% above the price	41.2%	+11.0 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, MSGS's surface spans 3 expiries out to 144 days, with IV from 27.0 to 51.1 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	24
Lowest IV among them	27.0%
Highest IV among them	51.1%

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, MSGS 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	29.1%	1,369	643
20 Nov 2026	53	30.2%	6,442	1,646
19 Feb 2027	144	30.4%	616	3,008

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, MSGS's largest open interest sits at the 430 strike, with 4,070 contracts across the captured expiries.

Strike	Call open interest	Put open interest	Total
430	4,063	7	4,070
350	49	1,856	1,905
360	0	1,157	1,157
420	734	149	883
400	412	332	744
450	675	5	680

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, MSGS's at the money IV moved from 27.9 percent to 29.1 percent.

Figure	25 Sep	28 Sep	Change
At the money IV	27.9%	29.1%	+1.3 points
Open interest, strikes captured near the price	15,740	13,724	-2,016
Put/call ratio, open interest	0.86	0.63	-0.24

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, 1,731 MSGS option contracts traded, 2.3 times its own recent average.

Figure	Value
Calls traded	587
Puts traded	1,144
Against its recent average	2.3 times
Busier than	13 of its last 13 trading days
Open interest, whole chain	16,445 contracts
Volume to open interest	0.11
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 14 trading days of MSGS's option positioning, from 9 Sep 2026 to 28 Sep 2026.

Date	Close	Net dollar gamma	Top call strike	Top put strike
9 Sep 2026	395.34	minus $392,778	430	390
21 Sep 2026	400.09	$4.7 million	430	350
28 Sep 2026	416.34	$7.92 million	430	350

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 MSGS was bearish, paper trading.

Figure	Value
Side	Bearish at 45 trading days, no signal
Level above the close	438.93, the swing high of 13 Aug 2026, a close past it runs against the view
Level below the close	405.99, the swing low of 22 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 MSGS sat at the 6th percentile of the model's 45 trading day ranking, paper trading.

Timeframe	Percentile	Side
10 trading days	17 of 100	Bearish
20 trading days	3 of 100	Bearish
45 trading days	6 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 MSGS 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.

Open Timeframe Agreement in RingMaster The Timeframe Agreement guide

Signal History

On 25 Sep 2026 MSGS had carried no signal for at least 14 trading days, paper trading.

Trading day	Signal	45 day percentile
25 Sep 2026	None	6 of 100
24 Sep 2026	None	4 of 100
23 Sep 2026	None	19 of 100
22 Sep 2026	None	23 of 100
21 Sep 2026	None	4 of 100
18 Sep 2026	None	6 of 100
17 Sep 2026	None	10 of 100
16 Sep 2026	None	23 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

MSGS closed at 416.34 on 28 Sep 2026.

Figure	Value
Last close	416.34
Change over 5 trading days	+4.1%
Change over 21 trading days	+5.8%
Change over 63 trading days	+3.3%
Change over 252 trading days	+87.6%
52 week high	438.93
52 week low	207.90
20 day moving average	394.60
50 day moving average	397.01
200 day moving average	341.81
RSI, 14 days	68

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

MSGS reports next on 30 Oct 2026, a date worked out from past quarters.

Figure	Value
Next report	30 Oct 2026, before the open
Date	Worked out from past quarters
Move after the report of 29 Jul 2026	+1.6%
Move after the report of 30 Apr 2026	-0.5%
Move after the report of 28 Jan 2026	-0.1%
Move after the report of 2 May 2025	-2.9%

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

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Company Events

MSGS filed 1 current report in the 14 days to 28 Sep 2026, the latest on 22 Sep 2026.

Filed	Report	What it covers
22 Sep 2026	Current report	Departure of Directors or Certain Officers; Election of Directors; Appointment of Certain Officers; Compensatory Arrangements of Certain Officers

Filings as of 28 Sep 2026. Current on every plan.

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Seasonality

In the 10 Septembers on record, MSGS's average change was minus 0.3 percent, and it rose in 50.0 percent of them.

Month	Average change	Middle change	Share of years up	Years
September	-0.3%	+0.2%	50.0%	10
October	-0.2%	-0.5%	50.0%	10
November	+1.9%	+3.3%	63.6%	11

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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Questions

What is MSGS's IV rank?: MSGS's IV rank is 73 of 100 on 28 Sep 2026.
What move are MSGS options pricing?: On 28 Sep 2026, MSGS options priced a move of 7.1 percent down and 6.0 percent up by 16 Oct 2026.
Where are MSGS's call wall and put wall?: On 28 Sep 2026, MSGS's call wall is the 430 strike and its put wall is the 350 strike.
What was the desk's latest view of MSGS on the Free plan?: On 25 Sep 2026 the desk's view of MSGS was bearish, paper trading.
When does MSGS report earnings next?: MSGS reports next on 30 Oct 2026, a date worked out from past quarters.

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