Health Care

Tempus AI, Inc. (TEM) options and signal

Figures as of 28 Sep 2026

TEM is Tempus AI, 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	40 of 100	28 Sep
At the money IV	79.1%	28 Sep
Priced move to 30 Oct	23.7% down, 23.5% up	28 Sep
Call wall and put wall	80 and 70	28 Sep
Signal and the desk's view	No signal, view neutral	25 Sep
Last close	85.08	28 Sep
Next report	3 Nov 2026	28 Sep

Options Snapshot

TEM's IV rank is 40 of 100 on 28 Sep 2026.

Figure	Value
IV rank	40 of 100
At the money IV	79.1%, near month, 32 days
Put/call ratio, open interest	0.24
Call open interest, strikes captured near the price	194,000 contracts
Put open interest, strikes captured near the price	46,600 contracts
Cost to trade at the money	Fair, 14.9% of the option's mid price

IV rank is where the at the money IV sits among TEM'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, TEM options priced a move of 23.7 percent down and 23.5 percent up by 30 Oct 2026.

Expiry	Days	Down	Up	Range
2 Oct 2026	4	9.1%	8.5%	77.35 to 92.34
9 Oct 2026	11	13.5%	13.8%	73.58 to 96.78
23 Oct 2026	25	20.0%	21.7%	68.08 to 103.58
30 Oct 2026	32	23.7%	23.5%	64.88 to 105.08
20 Nov 2026	53	30.6%	32.1%	59.08 to 112.38
18 Dec 2026	81	36.8%	38.6%	53.78 to 117.88
19 Feb 2027	144	47.0%	51.1%	45.08 to 128.58

The range is one standard deviation either side of the close of 85.08, 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, TEM's call wall is the 80 strike and its put wall is the 70 strike.

Figure	Value
Call wall, most open call gamma	80
Put wall, most open put gamma	70
Net dollar gamma, calls minus puts	$15.65 million
Total dollar gamma, both sides	$21.58 million
Close	85.08

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 2 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, TEM's at the money IV is 79.1 percent against 20 day realized volatility of 74.9 percent.

Figure	Value
At the money IV	79.1%
Realized volatility, 20 trading days	74.9%
Realized volatility, 60 trading days	90.4%
IV against its own weekly record	In the middle
Weekly readings on record	92, from 12 Jul 2024
Weeks the price moved more than the one week priced move	30.8% of 91 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, TEM's at the money IV runs from 80.4 percent at 4 days to 78.1 percent at 144 days.

Days to expiry	At the money IV
4	80.4%
11	77.4%
18	76.9%
25	77.3%
39	84.0%
53	81.6%
81	80.3%
144	78.1%

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, TEM's IV ten percent below the price sits 3.4 points above at the money IV.

Strike area	Implied volatility	Against at the money
10% below the price	82.5%	+3.4 points
At the money	79.1%	0.0 points
10% above the price	81.1%	+2.0 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, TEM's surface spans 10 expiries out to 144 days, with IV from 72.3 to 86.0 percent near the price.

Figure	Value
Expiries captured	10
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	84
Lowest IV among them	72.3%
Highest IV among them	86.0%

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, TEM has 10 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	80.4%	10,837	3,380
9 Oct 2026	11	77.4%	2,423	1,281
16 Oct 2026	18	76.9%	29,427	7,133
23 Oct 2026	25	77.3%	2,395	1,959
30 Oct 2026	32	79.1%	2,098	1,090
6 Nov 2026	39	84.0%	57	32
20 Nov 2026	53	81.6%	17,933	6,780
18 Dec 2026	81	80.3%	29,511	4,170
15 Jan 2027	109	77.9%	97,480	19,281
19 Feb 2027	144	78.1%	1,414	1,507

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, TEM's largest open interest sits at the 70 strike, with 27,645 contracts across the captured expiries.

Strike	Call open interest	Put open interest	Total
70	22,739	4,906	27,645
75	22,729	2,325	25,054
100	23,577	551	24,128
80	20,860	1,432	22,292
85	20,532	289	20,821
90	15,472	1,011	16,483

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, TEM's at the money IV moved from 76.7 percent to 79.1 percent.

Figure	25 Sep	28 Sep	Change
At the money IV	76.7%	79.1%	+2.5 points
Open interest, strikes captured near the price	243,257	240,188	-3,069
Put/call ratio, open interest	0.25	0.24	-0.01

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, 22,114 TEM option contracts traded, 0.8 times its own recent average.

Figure	Value
Calls traded	14,554
Puts traded	7,560
Against its recent average	0.8 times
Busier than	6 of its last 20 trading days
Open interest, whole chain	325,356 contracts
Volume to open interest	0.07
Unusual volume flag	Yes, 1 contract traded well above open interest
Largest flagged contract	The 93 call expiring 2 Oct, 331 traded against 163 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 TEM'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	55.69	$4.06 million	60	50
21 Sep 2026	78.03	$9.68 million	80	70
28 Sep 2026	85.08	$15.65 million	80	70

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 TEM was neutral, paper trading.

Figure	Value
Side	Neutral at 45 trading days, no signal
Level above the close	86.44, the swing high of 28 Sep 2026
Level below the close	81.83, the swing low of 18 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 TEM sat at the 29th percentile of the model's 45 trading day ranking, paper trading.

Timeframe	Percentile	Side
10 trading days	24 of 100	Neutral
20 trading days	34 of 100	Neutral
45 trading days	29 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 TEM'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 TEM had carried no signal for 16 trading days, paper trading.

Trading day	Signal	45 day percentile
25 Sep 2026	None	29 of 100
24 Sep 2026	None	51 of 100
23 Sep 2026	None	9 of 100
22 Sep 2026	None	10 of 100
21 Sep 2026	None	29 of 100
18 Sep 2026	None	54 of 100
17 Sep 2026	None	13 of 100
16 Sep 2026	None	6 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, 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.

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Price Chart

TEM closed at 85.08 on 28 Sep 2026.

Figure	Value
Last close	85.08
Change over 5 trading days	+9.0%
Change over 21 trading days	+20.4%
Change over 63 trading days	+45.9%
Change over 252 trading days	+10.0%
52 week high	104.32
52 week low	40.77
20 day moving average	70.16
50 day moving average	60.02
200 day moving average	56.30
RSI, 14 days	73

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

TEM reports next on 3 Nov 2026, a date worked out from past quarters.

Figure	Value
Next report	3 Nov 2026, after the close
Date	Worked out from past quarters
Move after the report of 30 Jul 2026	-0.9%
Move after the report of 30 Apr 2026	-0.9%
Move after the report of 28 Jan 2026	-1.6%
Move after the report of 6 May 2025	+12.6%

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

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Public Filings

Company insiders reported 0 purchases and 12 sales of TEM in the filings the desk holds.

Filed	Who	Trade	Size
22 Sep 2026	Lefkofsky Eric P, director, CEO and Chairman, 10% owner	Sold	7,394 shares, $566,159
22 Sep 2026	Lefkofsky Eric P, director, CEO and Chairman, 10% owner	Sold	33,770 shares, $2.61 million
22 Sep 2026	Lefkofsky Eric P, director, CEO and Chairman, 10% owner	Sold	16,152 shares, $1.26 million
22 Sep 2026	Lefkofsky Eric P, director, CEO and Chairman, 10% owner	Sold	184 shares, $14,510
22 Sep 2026	Lefkofsky Eric P, director, CEO and Chairman, 10% owner	Sold	17,359 shares, $1.33 million
22 Sep 2026	Lefkofsky Eric P, director, CEO and Chairman, 10% owner	Sold	79,259 shares, $6.13 million

Tracked fund managers listing TEM among their top holdings: ARK Investment Management.

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 2 Septembers on record, TEM'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%	+0.9%	50.0%	2
October	-4.9%	-4.9%	50.0%	2
November	+13.5%	+13.5%	50.0%	2

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 TEM 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 TEM's IV rank?: TEM's IV rank is 40 of 100 on 28 Sep 2026.
What move are TEM options pricing?: On 28 Sep 2026, TEM options priced a move of 23.7 percent down and 23.5 percent up by 30 Oct 2026.
Where are TEM's call wall and put wall?: On 28 Sep 2026, TEM's call wall is the 80 strike and its put wall is the 70 strike.
What was the desk's latest view of TEM on the Free plan?: On 25 Sep 2026 the desk's view of TEM was neutral, paper trading.
When does TEM report earnings next?: TEM reports next on 3 Nov 2026, a date worked out from past quarters.

More Health Care names

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