Health Care

Praxis Precision Medicines, Inc. (PRAX) options and signal

Figures as of 28 Sep 2026

PRAX is Praxis Precision Medicines, Inc., a Health Care 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	2 of 100	28 Sep
At the money IV	66.3%	28 Sep
Priced move to 16 Oct	15.4% down, 16.6% up	28 Sep
Call wall and put wall	360 and 310	28 Sep
Signal and the desk's view	No signal, view neutral	25 Sep
Last close	285.65	28 Sep
Next report	9 Nov 2026	28 Sep

Options Snapshot

PRAX's IV rank is 2 of 100 on 28 Sep 2026.

Figure	Value
IV rank	2 of 100
At the money IV	66.3%, near month, 18 days
Put/call ratio, open interest	1.16
Call open interest, strikes captured near the price	2,260 contracts
Put open interest, strikes captured near the price	2,620 contracts
Cost to trade at the money	Fair, 28.7% of the option's mid price

IV rank is where the at the money IV sits among PRAX'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, PRAX options priced a move of 15.4 percent down and 16.6 percent up by 16 Oct 2026.

Expiry	Days	Down	Up	Range
16 Oct 2026	18	15.4%	16.6%	241.75 to 332.95
20 Nov 2026	53	26.0%	27.4%	211.25 to 363.95
18 Dec 2026	81	33.1%	33.1%	191.15 to 380.15
15 Jan 2027	109	38.2%	39.9%	176.65 to 399.65
19 Feb 2027	144	44.1%	49.0%	159.65 to 425.65

The range is one standard deviation either side of the close of 285.65, 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, PRAX's call wall is the 360 strike and its put wall is the 310 strike.

Figure	Value
Call wall, most open call gamma	360
Put wall, most open put gamma	310
Net dollar gamma, calls minus puts	minus $166,726
Total dollar gamma, both sides	$1.23 million
Close	285.65

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 6 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, PRAX's at the money IV is 66.3 percent against 20 day realized volatility of 34.4 percent.

Figure	Value
At the money IV	66.3%
Realized volatility, 20 trading days	34.4%
Realized volatility, 60 trading days	55.6%
IV against its own weekly record	Low, in the bottom fifth
Weekly readings on record	270, from 5 Feb 2021
Weeks the price moved more than the one week priced move	9.4% of 235 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, PRAX's at the money IV runs from 66.3 percent at 18 days to 78.1 percent at 144 days.

Days to expiry	At the money IV
18	66.3%
53	66.7%
81	70.2%
109	69.7%
144	78.1%

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, PRAX's IV ten percent below the price sits 4.1 points above at the money IV.

Strike area	Implied volatility	Against at the money
10% below the price	70.8%	+4.1 points
At the money	66.7%	0.0 points
10% above the price	135.9%	+69.2 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, PRAX's surface spans 5 expiries out to 144 days, with IV from 3.1 to 160.3 percent near the price.

Figure	Value
Expiries captured	5
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	30
Lowest IV among them	3.1%
Highest IV among them	160.3%

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, PRAX has 5 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	66.3%	363	325
20 Nov 2026	53	66.7%	409	178
18 Dec 2026	81	70.2%	278	1,620
15 Jan 2027	109	69.7%	456	164
19 Feb 2027	144	78.1%	753	334

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, PRAX's largest open interest sits at the 310 strike, with 930 contracts across the captured expiries.

Strike	Call open interest	Put open interest	Total
310	17	913	930
200	262	159	421
240	50	263	313
360	285	28	313
290	22	265	287
400	263	0	263

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, PRAX's at the money IV moved from 62.5 percent to 66.3 percent.

Figure	25 Sep	28 Sep	Change
At the money IV	62.5%	66.3%	+3.9 points
Open interest, strikes captured near the price	4,700	4,880	+180
Put/call ratio, open interest	1.22	1.16	-0.06

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, 3,658 PRAX option contracts traded, 2.1 times its own recent average.

Figure	Value
Calls traded	2,569
Puts traded	1,089
Against its recent average	2.1 times
Busier than	20 of its last 20 trading days
Open interest, whole chain	7,470 contracts
Volume to open interest	0.49
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 31 trading days of PRAX's option positioning, from 13 Aug 2026 to 28 Sep 2026.

Date	Close	Net dollar gamma	Top call strike	Top put strike
13 Aug 2026	368.46	$314,939	390	330
21 Sep 2026	298.87	minus $880,802	350	320
28 Sep 2026	285.65	minus $166,726	360	310

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 PRAX was neutral, paper trading.

Figure	Value
Side	Neutral at 45 trading days, no signal
Level above the close	333.46, the swing high of 31 Aug 2026
Level below the close	275.89, the swing low of 23 Sep 2026
Strategy family	Long straddle (buy a call and a put at the same strike)
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 PRAX sat at the 35th percentile of the model's 45 trading day ranking, paper trading.

Timeframe	Percentile	Side
10 trading days	71 of 100	Neutral
20 trading days	55 of 100	Neutral
45 trading days	35 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 PRAX'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 PRAX had carried no signal for at least 18 trading days, paper trading.

Trading day	Signal	45 day percentile
25 Sep 2026	None	35 of 100
24 Sep 2026	None	40 of 100
23 Sep 2026	None	67 of 100
22 Sep 2026	None	56 of 100
21 Sep 2026	None	64 of 100
18 Sep 2026	None	52 of 100
17 Sep 2026	None	64 of 100
16 Sep 2026	None	37 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, 32 of 120 Health Care names were bullish and 52 were bearish, paper trading.

Sector	Names	Bullish	Bearish	Neutral
Health Care	120	32	52	36

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

PRAX closed at 285.65 on 28 Sep 2026.

Figure	Value
Last close	285.65
Change over 5 trading days	-4.4%
Change over 21 trading days	-22.3%
Change over 63 trading days	-18.5%
Change over 252 trading days	+480.0%
52 week high	392.70
52 week low	48.64
20 day moving average	321.54
50 day moving average	335.10
200 day moving average	316.27
RSI, 14 days	30

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

PRAX reports next on 9 Nov 2026, a date confirmed by the company.

Figure	Value
Next report	9 Nov 2026, before the open
Date	Confirmed by the company
Move after the report of 6 Aug 2026	+15.9%
Move after the report of 30 Apr 2026	+1.7%
Move after the report of 28 Jan 2026	+1.4%
Move after the report of 2 May 2025	+5.7%

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

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Public Filings

The filings the desk holds carry 1 recent trade in PRAX shares.

Filed	Who	Trade	Size
4 Sep 2026	. Gilbert Cisneros, member of Congress	Bought	$1,001 to $15,000

Every filing is reproduced as filed, and each one reaches the public days or weeks after the trade.

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

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Seasonality

In the 5 Septembers on record, PRAX's average change was plus 1.4 percent, and it rose in 60.0 percent of them.

Month	Average change	Middle change	Share of years up	Years
September	+1.4%	+8.3%	60.0%	5
October	+51.2%	+12.5%	60.0%	5
November	+5.1%	+12.2%	60.0%	5

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 PRAX's IV rank?: PRAX's IV rank is 2 of 100 on 28 Sep 2026.
What move are PRAX options pricing?: On 28 Sep 2026, PRAX options priced a move of 15.4 percent down and 16.6 percent up by 16 Oct 2026.
Where are PRAX's call wall and put wall?: On 28 Sep 2026, PRAX's call wall is the 360 strike and its put wall is the 310 strike.
What was the desk's latest view of PRAX on the Free plan?: On 25 Sep 2026 the desk's view of PRAX was neutral, paper trading.
When does PRAX report earnings next?: PRAX reports next on 9 Nov 2026, a date confirmed by the company.

More Health Care names

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Strike	Call open interest	Put open interest	Total
310	17	913	930
200	262	159	421
240	50	263	313
360	285	28	313
290	22	265	287
400	263	0	263

Strike	Call open interest	Put open interest	Total
310	17	913	930
200	262	159	421
240	50	263	313
360	285	28	313
290	22	265	287
400	263	0	263

Strike	Call open interest	Put open interest	Total
310	17	913	930
200	262	159	421
240	50	263	313
360	285	28	313
290	22	265	287
400	263	0	263