Financials

Nu Holdings Ltd. (NU) options and signal

Figures as of 28 Sep 2026

NU is Nu Holdings Ltd., 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	63 of 100	28 Sep
At the money IV	50.3%	28 Sep
Priced move to 30 Oct	14.7% down, 15.3% up	28 Sep
Call wall and put wall	15 and 12	28 Sep
Signal and the desk's view	No signal, view bullish	25 Sep
Last close	12.23	28 Sep
Next report	12 Nov 2026	28 Sep

Options Snapshot

NU's IV rank is 63 of 100 on 28 Sep 2026.

Figure	Value
IV rank	63 of 100
At the money IV	50.3%, near month, 32 days
Put/call ratio, open interest	0.65
Call open interest, strikes captured near the price	798,000 contracts
Put open interest, strikes captured near the price	521,000 contracts
Cost to trade at the money	Fair, 39.1% of the option's mid price

IV rank is where the at the money IV sits among NU'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, NU options priced a move of 14.7 percent down and 15.3 percent up by 30 Oct 2026.

Expiry	Days	Down	Up	Range
2 Oct 2026	4	4.6%	5.0%	11.66 to 12.85
9 Oct 2026	11	8.4%	8.7%	11.20 to 13.29
23 Oct 2026	25	11.9%	12.1%	10.78 to 13.71
30 Oct 2026	32	14.7%	15.3%	10.43 to 14.10
20 Nov 2026	53	19.5%	19.9%	9.84 to 14.66
18 Dec 2026	81	22.9%	23.3%	9.43 to 15.08
19 Mar 2027	172	32.3%	33.6%	8.28 to 16.34

The range is one standard deviation either side of the close of 12.23, 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, NU's call wall is the 15 strike and its put wall is the 12 strike.

Figure	Value
Call wall, most open call gamma	15
Put wall, most open put gamma	12
Net dollar gamma, calls minus puts	minus $3.82 million
Total dollar gamma, both sides	$19.56 million
Close	12.23

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 4 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, NU's at the money IV is 50.3 percent against 20 day realized volatility of 51.5 percent.

Figure	Value
At the money IV	50.3%
Realized volatility, 20 trading days	51.5%
Realized volatility, 60 trading days	45.2%
IV against its own weekly record	In the middle
Weekly readings on record	224, from 17 Dec 2021
Weeks the price moved more than the one week priced move	28.3% of 223 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, NU's at the money IV runs from 44.3 percent at 4 days to 47.0 percent at 172 days.

Days to expiry	At the money IV
4	44.3%
11	52.3%
18	47.4%
25	45.9%
39	51.5%
53	51.3%
81	48.6%
172	47.0%

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 32 day expiry, NU's IV ten percent below the price sits 0.1 points above at the money IV.

Strike area	Implied volatility	Against at the money
10% below the price	50.4%	+0.1 points
At the money	50.3%	0.0 points
10% above the price	54.7%	+4.3 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, NU's surface spans 10 expiries out to 172 days, with IV from 45.0 to 58.3 percent near the price.

Figure	Value
Expiries captured	10
Nearest expiry	2 Oct 2026, 4 days
Farthest expiry	19 Mar 2027, 172 days
Points within 10% of the price, 7 days out or more	28
Lowest IV among them	45.0%
Highest IV among them	58.3%

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, NU has 10 captured expiries, from 2 Oct 2026 to 19 Mar 2027.

Expiry	Days	At the money IV	Call open interest	Put open interest
2 Oct 2026	4	44.3%	11,700	9,050
9 Oct 2026	11	52.3%	7,532	7,051
16 Oct 2026	18	47.4%	73,339	125,567
23 Oct 2026	25	45.9%	3,613	2,639
30 Oct 2026	32	50.3%	4,386	3,925
6 Nov 2026	39	51.5%	33	115
20 Nov 2026	53	51.3%	282,439	63,845
18 Dec 2026	81	48.6%	83,290	34,978
15 Jan 2027	109	46.8%	290,293	212,182
19 Mar 2027	172	47.0%	41,591	61,985

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, NU's largest open interest sits at the 15 strike, with 220,836 contracts across the captured expiries.

Strike	Call open interest	Put open interest	Total
15	141,330	79,506	220,836
17	124,912	10,537	135,449
12	19,013	114,343	133,356
19	131,200	0	131,200
13	25,446	97,890	123,336
14	57,423	65,602	123,025

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, NU's at the money IV moved from 47.8 percent to 50.3 percent.

Figure	25 Sep	28 Sep	Change
At the money IV	47.8%	50.3%	+2.6 points
Open interest, strikes captured near the price	1.41 million	1.32 million	-87,766
Put/call ratio, open interest	0.59	0.65	+0.07

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, 152,729 NU option contracts traded, 1.5 times its own recent average.

Figure	Value
Calls traded	78,470
Puts traded	74,259
Against its recent average	1.5 times
Busier than	16 of its last 20 trading days
Open interest, whole chain	1.59 million contracts
Volume to open interest	0.10
Unusual volume flag	Yes, 5 contracts traded well above open interest
Largest flagged contract	The 11 put expiring 20 Nov, 8,985 traded against 4,133 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 NU'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	13.65	$4.99 million	14	13
21 Sep 2026	14.06	minus $276,492	15	14
28 Sep 2026	12.23	minus $3.82 million	15	12

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 NU was bullish, paper trading.

Figure	Value
Side	Bullish at 45 trading days, no signal
Level above the close	13.58, the swing high of 16 Sep 2026
Level below the close	12.22, the swing low of 28 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.

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Rank by Timeframe

On 25 Sep 2026 NU sat at the 81st percentile of the model's 45 trading day ranking, paper trading.

Timeframe	Percentile	Side
10 trading days	59 of 100	Neutral
20 trading days	93 of 100	Bullish
45 trading days	81 of 100	Bullish

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, 2 of 3 timeframes put NU on the bullish side, paper trading.

Group	Timeframes	Side	On that side
Near	10 day, 20 day	Bullish	1 of 2
Long	45 day	Bullish	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 NU had carried no signal for at least 18 trading days, paper trading.

Trading day	Signal	45 day percentile
25 Sep 2026	None	81 of 100
24 Sep 2026	None	79 of 100
23 Sep 2026	None	58 of 100
22 Sep 2026	None	32 of 100
21 Sep 2026	None	28 of 100
18 Sep 2026	None	26 of 100
17 Sep 2026	None	41 of 100
16 Sep 2026	None	58 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

NU closed at 12.23 on 28 Sep 2026.

Figure	Value
Last close	12.23
Change over 5 trading days	-13.0%
Change over 21 trading days	-17.8%
Change over 63 trading days	-6.9%
Change over 252 trading days	-22.5%
52 week high	18.98
52 week low	11.20
20 day moving average	14.33
50 day moving average	14.36
200 day moving average	14.78
RSI, 14 days	28

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

NU reports next on 12 Nov 2026, a date confirmed by the company.

Figure	Value
Next report	12 Nov 2026
Date	Confirmed by the company

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

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Seasonality

In the 4 Septembers on record, NU's average change was minus 1.2 percent, and it rose in 50.0 percent of them.

Month	Average change	Middle change	Share of years up	Years
September	-1.2%	-1.5%	50.0%	4
October	+9.5%	+11.8%	100.0%	4
November	-5.2%	-5.9%	25.0%	4

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 7 headlines naming NU in the 3 days to 28 Sep 2026.

Figure	Value
Headlines in the window	7
Latest	28 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 NU's IV rank?: NU's IV rank is 63 of 100 on 28 Sep 2026.
What move are NU options pricing?: On 28 Sep 2026, NU options priced a move of 14.7 percent down and 15.3 percent up by 30 Oct 2026.
Where are NU's call wall and put wall?: On 28 Sep 2026, NU's call wall is the 15 strike and its put wall is the 12 strike.
What was the desk's latest view of NU on the Free plan?: On 25 Sep 2026 the desk's view of NU was bullish, paper trading.
When does NU report earnings next?: NU reports next on 12 Nov 2026, a date confirmed by the company.

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