Unclassified

SPYV options and signal

Figures as of 28 Sep 2026

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.

Membership gets tonight's signals the night they publish. Free gets every options screen, never delayed, and the signals one trading day behind.

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At a glance

Figure	Value	Date
IV rank	69 of 100	28 Sep
At the money IV	19.7%	28 Sep
Priced move to 16 Oct	4.4% down, 2.8% up	28 Sep
Call wall and put wall	61 and 60	28 Sep
Signal and the desk's view	No signal, view bullish	25 Sep
Last close	61.71	28 Sep

Options Snapshot

SPYV's IV rank is 69 of 100 on 28 Sep 2026.

Figure	Value
IV rank	69 of 100
At the money IV	19.7%, near month, 18 days
Put/call ratio, open interest	0.33
Call open interest, strikes captured near the price	612 contracts
Put open interest, strikes captured near the price	202 contracts
Cost to trade at the money	Wide, 115.6% of the option's mid price

IV rank is where the at the money IV sits among SPYV'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.

Open Options Snapshot in RingMaster The Options Snapshot guide

Priced Range

On 28 Sep 2026, SPYV options priced a move of 4.4 percent down and 2.8 percent up by 16 Oct 2026.

Expiry	Days	Down	Up	Range
16 Oct 2026	18	4.4%	2.8%	59.02 to 63.44
18 Dec 2026	81	9.0%	6.8%	56.13 to 65.88
19 Mar 2027	172	11.7%	12.3%	54.52 to 69.32

The range is one standard deviation either side of the close of 61.71, 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.

Open Priced Range in RingMaster The Priced Range guide

Gamma Map

On 28 Sep 2026, SPYV's call wall is the 61 strike and its put wall is the 60 strike.

Figure	Value
Call wall, most open call gamma	61
Put wall, most open put gamma	60
Net dollar gamma, calls minus puts	$31,090
Total dollar gamma, both sides	$152,175
Close	61.71

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.

Open Gamma Map in RingMaster The Gamma Map guide

Volatility History

On 28 Sep 2026, SPYV's at the money IV is 19.7 percent against 20 day realized volatility of 8.2 percent.

Figure	Value
At the money IV	19.7%
Realized volatility, 20 trading days	8.2%
Realized volatility, 60 trading days	8.4%
IV against its own weekly record	In the middle
Weekly readings on record	413, from 23 Mar 2018
Weeks the price moved more than the one week priced move	23.4% 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, SPYV's at the money IV runs from 19.7 percent at 18 days to 17.0 percent at 172 days.

Days to expiry	At the money IV
18	19.7%
81	17.0%
172	17.0%

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.

Open Volatility Weather in RingMaster The Volatility Weather guide

Volatility Surface

On 28 Sep 2026, SPYV's surface spans 3 expiries out to 172 days, with IV from 3.1 to 52.3 percent near the price.

Figure	Value
Expiries captured	3
Nearest expiry	16 Oct 2026, 18 days
Farthest expiry	19 Mar 2027, 172 days
Points within 10% of the price, 7 days out or more	24
Lowest IV among them	3.1%
Highest IV among them	52.3%

From the option chain at the close on 28 Sep 2026. Current on every plan.

Open Volatility Surface in RingMaster The Volatility Surface guide

Expiry Ladder

On 28 Sep 2026, SPYV has 3 captured expiries, from 16 Oct 2026 to 19 Mar 2027.

Expiry	Days	At the money IV	Call open interest	Put open interest
16 Oct 2026	18	19.7%	91	11
18 Dec 2026	81	17.0%	101	121
19 Mar 2027	172	17.0%	420	70

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.

Open Expiry Ladder in RingMaster The Expiry Ladder guide

Strike Table

On 28 Sep 2026, SPYV's largest open interest sits at the 52 strike, with 374 contracts across the captured expiries.

Strike	Call open interest	Put open interest	Total
52	374	0	374
60	8	112	120
62	27	68	95
61	83	2	85
65	27	1	28
63	12	13	25

From the option chain at the close on 28 Sep 2026. Current on every plan.

Open Strike Table in RingMaster The Strike Table guide

Since Yesterday

From 25 Sep 2026 to 28 Sep 2026, SPYV's at the money IV moved from 17.7 percent to 19.7 percent.

Figure	25 Sep	28 Sep	Change
At the money IV	17.7%	19.7%	+2.0 points
Open interest, strikes captured near the price	452	814	+362
Put/call ratio, open interest	0.81	0.33	-0.48

Open interest changes cannot identify buyers or sellers.

From the option chain at the close on 28 Sep 2026. Current on every plan.

Open Since Yesterday in RingMaster The Since Yesterday guide

Changed Hands

On 28 Sep 2026, 552 SPYV option contracts traded, 2.1 times its own recent average.

Figure	Value
Calls traded	531
Puts traded	21
Against its recent average	2.1 times
Busier than	16 of its last 16 trading days
Open interest, whole chain	836 contracts
Volume to open interest	0.66
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.

Open Changed Hands in RingMaster The Changed Hands guide

Positioning Replay

The replay holds 29 trading days of SPYV'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	63.30	$346,849	62	60
21 Sep 2026	62.51	$22,153	61	60
28 Sep 2026	61.71	$31,090	61	60

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.

Open Positioning Replay in RingMaster The Positioning Replay guide

Read-out

On 25 Sep 2026 the desk's view of SPYV was bullish, paper trading.

Figure	Value
Side	Bullish at 45 trading days, no signal
Level above the close	61.88, the swing high of 16 Sep 2026
Level below the close	60.64, the swing low of 30 Jun 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.

Open Read-out in RingMaster The Read-out guide

Rank by Timeframe

On 25 Sep 2026 SPYV sat at the 88th percentile of the model's 45 trading day ranking, paper trading.

Timeframe	Percentile	Side
10 trading days	66 of 100	Neutral
20 trading days	48 of 100	Neutral
45 trading days	88 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.

Open Rank by Timeframe in RingMaster The Rank by Timeframe guide

Timeframe Agreement

On 25 Sep 2026, 1 of 3 timeframes put SPYV on the bullish side, paper trading.

Group	Timeframes	Side	On that side
Near	10 day, 20 day	Neutral	0 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.

Open Timeframe Agreement in RingMaster The Timeframe Agreement guide

Signal History

On 25 Sep 2026 SPYV had carried no signal for 1 trading day, paper trading.

Trading day	Signal	45 day percentile
25 Sep 2026	None	88 of 100
17 Sep 2026	None	13 of 100
11 Sep 2026	None	2 of 100
10 Sep 2026	None	40 of 100
9 Sep 2026	None	77 of 100
4 Sep 2026	None	76 of 100
3 Sep 2026	None	72 of 100
2 Sep 2026	None	64 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, 4 of 6 Unclassified names were bullish and 1 were bearish, paper trading.

Sector	Names	Bullish	Bearish	Neutral
Unclassified	6	4	1	1

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

SPYV closed at 61.71 on 28 Sep 2026.

Figure	Value
Last close	61.71
Change over 5 trading days	-1.3%
Change over 21 trading days	-2.8%
Change over 63 trading days	+1.5%
Change over 252 trading days	+12.9%
52 week high	64.26
52 week low	54.25
20 day moving average	62.71
50 day moving average	62.82
200 day moving average	59.94
RSI, 14 days	37

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.

Open Price Chart in RingMaster The Price Chart guide

Seasonality

In the 23 Septembers on record, SPYV's average change was minus 0.8 percent, and it rose in 47.8 percent of them.

Month	Average change	Middle change	Share of years up	Years
September	-0.8%	-0.1%	47.8%	23
October	+1.2%	+1.2%	60.9%	23
November	+2.6%	+2.7%	78.3%	23

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.

Open Seasonality in RingMaster The Seasonality guide

Questions

What is SPYV's IV rank?: SPYV's IV rank is 69 of 100 on 28 Sep 2026.
What move are SPYV options pricing?: On 28 Sep 2026, SPYV options priced a move of 4.4 percent down and 2.8 percent up by 16 Oct 2026.
Where are SPYV's call wall and put wall?: On 28 Sep 2026, SPYV's call wall is the 61 strike and its put wall is the 60 strike.
What was the desk's latest view of SPYV on the Free plan?: On 25 Sep 2026 the desk's view of SPYV was bullish, paper trading.

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