Consumer Discretionary

Murphy USA Inc. (MUSA) options and signal

Figures as of 28 Sep 2026

MUSA is Murphy USA Inc., a Consumer Discretionary 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	88 of 100	28 Sep
At the money IV	39.0%	28 Sep
Priced move to 16 Oct	8.8% down, 8.1% up	28 Sep
Call wall and put wall	560 and 400	28 Sep
Signal and the desk's view	No signal, view neutral	25 Sep
Last close	520.12	28 Sep
Next report	28 Oct 2026	28 Sep

Options Snapshot

MUSA's IV rank is 88 of 100 on 28 Sep 2026.

Figure	Value
IV rank	88 of 100
At the money IV	39.0%, near month, 18 days
Put/call ratio, open interest	1.24
Call open interest, strikes captured near the price	589 contracts
Put open interest, strikes captured near the price	729 contracts
Cost to trade at the money	Wide, 43.3% of the option's mid price

IV rank is where the at the money IV sits among MUSA'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, MUSA options priced a move of 8.8 percent down and 8.1 percent up by 16 Oct 2026.

Expiry	Days	Down	Up	Range
16 Oct 2026	18	8.8%	8.1%	474.22 to 562.02
20 Nov 2026	53	15.9%	15.8%	437.52 to 602.52
18 Dec 2026	81	18.1%	29.4%	426.02 to 673.12
15 Jan 2027	109	26.9%	50.8%	380.12 to 784.12
16 Apr 2027	200	26.7%	30.4%	381.12 to 678.12

The range is one standard deviation either side of the close of 520.12, 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, MUSA's call wall is the 560 strike and its put wall is the 400 strike.

Figure	Value
Call wall, most open call gamma	560
Put wall, most open put gamma	400
Net dollar gamma, calls minus puts	$68,824
Total dollar gamma, both sides	$1.02 million
Close	520.12

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 11 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, MUSA's at the money IV is 39.0 percent against 20 day realized volatility of 31.0 percent.

Figure	Value
At the money IV	39.0%
Realized volatility, 20 trading days	31.0%
Realized volatility, 60 trading days	39.2%
IV against its own weekly record	High, in the top fifth
Weekly readings on record	645, from 6 Sep 2013
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, MUSA's at the money IV runs from 39.0 percent at 18 days to 42.1 percent at 200 days.

Days to expiry	At the money IV
18	39.0%
53	41.8%
81	62.4%
109	46.6%
200	42.1%

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, MUSA's IV ten percent below the price sits 0.1 points below at the money IV.

Strike area	Implied volatility	Against at the money
10% below the price	41.7%	-0.1 points
At the money	41.8%	0.0 points
10% above the price	44.9%	+3.1 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, MUSA's surface spans 5 expiries out to 200 days, with IV from 20.4 to 116.0 percent near the price.

Figure	Value
Expiries captured	5
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	40
Lowest IV among them	20.4%
Highest IV among them	116.0%

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, MUSA has 5 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	39.0%	209	106
20 Nov 2026	53	41.8%	3	3
18 Dec 2026	81	62.4%	218	386
15 Jan 2027	109	46.6%	119	215
16 Apr 2027	200	42.1%	40	19

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, MUSA's largest open interest sits at the 400 strike, with 305 contracts across the captured expiries.

Strike	Call open interest	Put open interest	Total
400	2	303	305
380	0	110	110
600	80	4	84
560	62	14	76
580	50	25	75
550	46	24	70

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, MUSA's at the money IV moved from 37.8 percent to 39.0 percent.

Figure	25 Sep	28 Sep	Change
At the money IV	37.8%	39.0%	+1.2 points
Open interest, strikes captured near the price	1,297	1,318	+21
Put/call ratio, open interest	1.21	1.24	+0.02

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, 903 MUSA option contracts traded, 1.0 times its own recent average.

Figure	Value
Calls traded	430
Puts traded	473
Against its recent average	1.0 times
Busier than	4 of its last 20 trading days
Open interest, whole chain	1,621 contracts
Volume to open interest	0.56
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 34 trading days of MUSA's option positioning, from 10 Aug 2026 to 28 Sep 2026.

Date	Close	Net dollar gamma	Top call strike	Top put strike
10 Aug 2026	552.84	$110,387	540	550
21 Sep 2026	508.98	$303,059	540	480
28 Sep 2026	520.12	$68,824	560	400

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 MUSA was neutral, paper trading.

Figure	Value
Side	Neutral at 45 trading days, no signal
Level above the close	524.14, the swing high of 24 Sep 2026
Level below the close	504.49, the swing low of 23 Sep 2026
Strategy family	Iron condor (sell both sides, defined risk)
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 MUSA sat at the 38th percentile of the model's 45 trading day ranking, paper trading.

Timeframe	Percentile	Side
10 trading days	27 of 100	Neutral
20 trading days	38 of 100	Neutral
45 trading days	38 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 MUSA'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 MUSA had carried no signal for at least 18 trading days, paper trading.

Trading day	Signal	45 day percentile
25 Sep 2026	None	38 of 100
24 Sep 2026	None	16 of 100
23 Sep 2026	None	72 of 100
22 Sep 2026	None	72 of 100
21 Sep 2026	None	90 of 100
18 Sep 2026	None	72 of 100
17 Sep 2026	None	94 of 100
16 Sep 2026	None	81 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, 27 of 106 Consumer Discretionary names were bullish and 33 were bearish, paper trading.

Sector	Names	Bullish	Bearish	Neutral
Consumer Discretionary	106	27	33	46

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

MUSA closed at 520.12 on 28 Sep 2026.

Figure	Value
Last close	520.12
Change over 5 trading days	+2.2%
Change over 21 trading days	+2.2%
Change over 63 trading days	-2.8%
Change over 252 trading days	+34.7%
52 week high	636.05
52 week low	349.83
20 day moving average	519.03
50 day moving average	552.81
200 day moving average	502.90
RSI, 14 days	47

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

MUSA 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	-0.0%
Move after the report of 30 Apr 2026	+1.5%
Move after the report of 28 Jan 2026	-0.6%
Move after the report of 7 May 2025	-12.3%

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

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Seasonality

In the 12 Septembers on record, MUSA's average change was plus 0.9 percent, and it rose in 50.0 percent of them.

Month	Average change	Middle change	Share of years up	Years
September	+0.9%	+0.3%	50.0%	12
October	+4.7%	+0.5%	53.8%	13
November	+4.0%	+4.8%	69.2%	13

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 MUSA 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 MUSA's IV rank?: MUSA's IV rank is 88 of 100 on 28 Sep 2026.
What move are MUSA options pricing?: On 28 Sep 2026, MUSA options priced a move of 8.8 percent down and 8.1 percent up by 16 Oct 2026.
Where are MUSA's call wall and put wall?: On 28 Sep 2026, MUSA's call wall is the 560 strike and its put wall is the 400 strike.
What was the desk's latest view of MUSA on the Free plan?: On 25 Sep 2026 the desk's view of MUSA was neutral, paper trading.
When does MUSA report earnings next?: MUSA reports next on 28 Oct 2026, a date confirmed by the company.

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