Consumer Discretionary

Ferrari N.V. (RACE) options and signal

Figures as of 28 Sep 2026

RACE is Ferrari N.V., 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	76 of 100	28 Sep
At the money IV	31.5%	28 Sep
Priced move to 30 Oct	9.9% down, 10.3% up	28 Sep
Call wall and put wall	410 and 400	28 Sep
Signal and the desk's view	No signal, view neutral	25 Sep
Last close	398.00	28 Sep
Next report	3 Nov 2026	28 Sep

Options Snapshot

RACE's IV rank is 76 of 100 on 28 Sep 2026.

Figure	Value
IV rank	76 of 100
At the money IV	31.5%, near month, 32 days
Put/call ratio, open interest	1.08
Call open interest, strikes captured near the price	7,970 contracts
Put open interest, strikes captured near the price	8,630 contracts
Cost to trade at the money	Fair, 24.1% of the option's mid price

IV rank is where the at the money IV sits among RACE'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, RACE options priced a move of 9.9 percent down and 10.3 percent up by 30 Oct 2026.

Expiry	Days	Down	Up	Range
2 Oct 2026	4	4.2%	3.6%	381.30 to 412.40
9 Oct 2026	11	5.8%	6.2%	375.00 to 422.60
16 Oct 2026	18	7.5%	7.6%	368.30 to 428.10
23 Oct 2026	25	8.4%	8.0%	364.50 to 429.80
30 Oct 2026	32	9.9%	10.3%	358.60 to 438.90
20 Nov 2026	53	12.9%	13.9%	346.50 to 453.50
19 Feb 2027	144	20.0%	22.8%	318.40 to 488.60

The range is one standard deviation either side of the close of 398.00, 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, RACE's call wall is the 410 strike and its put wall is the 400 strike.

Figure	Value
Call wall, most open call gamma	410
Put wall, most open put gamma	400
Net dollar gamma, calls minus puts	minus $389,942
Total dollar gamma, both sides	$14.4 million
Close	398.00

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 9 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, RACE's at the money IV is 31.5 percent against 20 day realized volatility of 23.7 percent.

Figure	Value
At the money IV	31.5%
Realized volatility, 20 trading days	23.7%
Realized volatility, 60 trading days	27.1%
IV against its own weekly record	In the middle
Weekly readings on record	546, from 30 Oct 2015
Weeks the price moved more than the one week priced move	32.6% 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.

Open Volatility History in RingMaster The Volatility History guide

Volatility Weather

On 28 Sep 2026, RACE's at the money IV runs from 37.9 percent at 4 days to 34.3 percent at 144 days.

Days to expiry	At the money IV
4	37.9%
11	31.6%
18	33.6%
25	31.3%
32	31.5%
53	35.7%
81	35.1%
144	34.3%

Near expiries price more volatility than far ones, an inverted 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, RACE's IV ten percent below the price sits 10.2 points above at the money IV.

Strike area	Implied volatility	Against at the money
10% below the price	41.7%	+10.2 points
At the money	31.5%	0.0 points
10% above the price	43.0%	+11.4 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, RACE's surface spans 8 expiries out to 144 days, with IV from 30.0 to 59.6 percent near the price.

Figure	Value
Expiries captured	8
Nearest expiry	2 Oct 2026, 4 days
Farthest expiry	19 Feb 2027, 144 days
Points within 10% of the price, 7 days out or more	75
Lowest IV among them	30.0%
Highest IV among them	59.6%

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, RACE has 8 captured expiries, from 2 Oct 2026 to 19 Feb 2027.

Expiry	Days	At the money IV	Call open interest	Put open interest
2 Oct 2026	4	37.9%	165	68
9 Oct 2026	11	31.6%	65	55
16 Oct 2026	18	33.6%	2,272	2,351
23 Oct 2026	25	31.3%	5	17
30 Oct 2026	32	31.5%	9	8
20 Nov 2026	53	35.7%	856	594
18 Dec 2026	81	35.1%	4,182	5,092
19 Feb 2027	144	34.3%	415	441

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, RACE's largest open interest sits at the 330 strike, with 1,641 contracts across the captured expiries.

Strike	Call open interest	Put open interest	Total
330	148	1,493	1,641
400	702	543	1,245
370	438	519	957
420	697	259	956
450	858	47	905
380	152	701	853

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, RACE's at the money IV moved from 28.9 percent to 31.5 percent.

Figure	25 Sep	28 Sep	Change
At the money IV	28.9%	31.5%	+2.6 points
Open interest, strikes captured near the price	16,092	16,595	+503
Put/call ratio, open interest	1.04	1.08	+0.04

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, 1,759 RACE option contracts traded, 1.1 times its own recent average.

Figure	Value
Calls traded	715
Puts traded	1,044
Against its recent average	1.1 times
Busier than	4 of its last 20 trading days
Open interest, whole chain	19,472 contracts
Volume to open interest	0.09
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 33 trading days of RACE'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	410.26	$6.48 million	410	390
21 Sep 2026	416.13	$2.3 million	420	400
28 Sep 2026	398.00	minus $389,942	410	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 RACE was neutral, paper trading.

Figure	Value
Side	Neutral at 45 trading days, no signal
Level above the close	401.86, the swing high of 14 Sep 2026
Level below the close	356.32, the swing low of 24 Jul 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 RACE sat at the 33rd percentile of the model's 45 trading day ranking, paper trading.

Timeframe	Percentile	Side
10 trading days	40 of 100	Neutral
20 trading days	57 of 100	Neutral
45 trading days	33 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 RACE'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 RACE had carried no signal for at least 18 trading days, paper trading.

Trading day	Signal	45 day percentile
25 Sep 2026	None	33 of 100
24 Sep 2026	None	35 of 100
23 Sep 2026	None	22 of 100
22 Sep 2026	None	29 of 100
21 Sep 2026	None	66 of 100
18 Sep 2026	None	57 of 100
17 Sep 2026	None	65 of 100
16 Sep 2026	None	31 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, 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

RACE closed at 398.00 on 28 Sep 2026.

Figure	Value
Last close	398.00
Change over 5 trading days	-4.4%
Change over 21 trading days	-3.9%
Change over 63 trading days	+8.1%
Change over 252 trading days	-15.9%
52 week high	504.49
52 week low	312.51
20 day moving average	410.86
50 day moving average	405.85
200 day moving average	366.60
RSI, 14 days	41

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

RACE reports next on 3 Nov 2026, a date confirmed by the company.

Figure	Value
Next report	3 Nov 2026, before the open
Date	Confirmed by the company
Move after the report of 30 Jul 2026	+3.1%
Move after the report of 30 Apr 2026	-1.7%
Move after the report of 28 Jan 2026	+1.5%
Move after the report of 6 May 2025	+1.6%

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

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Seasonality

In the 10 Septembers on record, RACE's average change was minus 1.9 percent, and it rose in 30.0 percent of them.

Month	Average change	Middle change	Share of years up	Years
September	-1.9%	-3.7%	30.0%	10
October	+0.3%	+1.9%	70.0%	10
November	+4.1%	+3.8%	60.0%	10

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 RACE in the 3 days to 28 Sep 2026.

Figure	Value
Headlines in the window	1
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 RACE's IV rank?: RACE's IV rank is 76 of 100 on 28 Sep 2026.
What move are RACE options pricing?: On 28 Sep 2026, RACE options priced a move of 9.9 percent down and 10.3 percent up by 30 Oct 2026.
Where are RACE's call wall and put wall?: On 28 Sep 2026, RACE's call wall is the 410 strike and its put wall is the 400 strike.
What was the desk's latest view of RACE on the Free plan?: On 25 Sep 2026 the desk's view of RACE was neutral, paper trading.
When does RACE report earnings next?: RACE reports next on 3 Nov 2026, a date confirmed by the company.

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