Industrials

Thomson Reuters Corporation (TRI) options and signal

Figures as of 28 Sep 2026

TRI is Thomson Reuters Corporation, an Industrials 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	88 of 100	28 Sep
At the money IV	54.1%	28 Sep
Priced move to 16 Oct	13.8% down, 12.6% up	28 Sep
Call wall and put wall	110 and 105	28 Sep
Signal and the desk's view	No signal, view bearish	25 Sep
Last close	97.33	28 Sep
Next report	3 Nov 2026	28 Sep

Options Snapshot

TRI's IV rank is 88 of 100 on 28 Sep 2026.

Figure	Value
IV rank	88 of 100
At the money IV	54.1%, near month, 18 days
Put/call ratio, open interest	1.72
Call open interest, strikes captured near the price	2,120 contracts
Put open interest, strikes captured near the price	3,650 contracts
Cost to trade at the money	Fair, 32.8% of the option's mid price

IV rank is where the at the money IV sits among TRI'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, TRI options priced a move of 13.8 percent down and 12.6 percent up by 16 Oct 2026.

Expiry	Days	Down	Up	Range
16 Oct 2026	18	13.8%	12.6%	83.93 to 109.63
20 Nov 2026	53	19.1%	21.6%	78.73 to 118.33
18 Dec 2026	81	25.7%	27.3%	72.33 to 123.93
15 Jan 2027	109	27.1%	27.1%	70.93 to 123.73
19 Feb 2027	144	32.8%	32.3%	65.43 to 128.73
16 Apr 2027	200	36.7%	38.9%	61.63 to 135.23

The range is one standard deviation either side of the close of 97.33, 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, TRI's call wall is the 110 strike and its put wall is the 105 strike.

Figure	Value
Call wall, most open call gamma	110
Put wall, most open put gamma	105
Net dollar gamma, calls minus puts	minus $323,093
Total dollar gamma, both sides	$963,223
Close	97.33

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 3 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, TRI's at the money IV is 54.1 percent against 20 day realized volatility of 56.6 percent.

Figure	Value
At the money IV	54.1%
Realized volatility, 20 trading days	56.6%
Realized volatility, 60 trading days	59.6%
IV against its own weekly record	High, in the top fifth
Weekly readings on record	760, from 8 Jan 2010
Weeks the price moved more than the one week priced move	26.7% 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.

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Volatility Weather

On 28 Sep 2026, TRI's at the money IV runs from 54.1 percent at 18 days to 48.6 percent at 200 days.

Days to expiry	At the money IV
18	54.1%
53	53.4%
81	53.3%
109	46.5%
144	51.3%
200	48.6%

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 53 day expiry, TRI's IV ten percent below the price sits 3.4 points below at the money IV.

Strike area	Implied volatility	Against at the money
10% below the price	50.1%	-3.4 points
At the money	53.4%	0.0 points
10% above the price	49.4%	-4.1 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, TRI's surface spans 6 expiries out to 200 days, with IV from 28.6 to 61.7 percent near the price.

Figure	Value
Expiries captured	6
Nearest expiry	16 Oct 2026, 18 days
Farthest expiry	16 Apr 2027, 200 days
Points within 10% of the price, 7 days out or more	22
Lowest IV among them	28.6%
Highest IV among them	61.7%

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, TRI has 6 captured expiries, from 16 Oct 2026 to 16 Apr 2027.

Expiry	Days	At the money IV	Call open interest	Put open interest
16 Oct 2026	18	54.1%	669	851
20 Nov 2026	53	53.4%	107	2,208
18 Dec 2026	81	53.3%	583	439
15 Jan 2027	109	46.5%	736	89
19 Feb 2027	144	51.3%	7	15
16 Apr 2027	200	48.6%	20	47

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, TRI's largest open interest sits at the 105 strike, with 2,229 contracts across the captured expiries.

Strike	Call open interest	Put open interest	Total
105	91	2,138	2,229
110	560	11	571
90	206	271	477
85	60	349	409
80	134	249	383
120	284	11	295

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, TRI's at the money IV moved from 54.4 percent to 54.1 percent.

Figure	25 Sep	28 Sep	Change
At the money IV	54.4%	54.1%	-0.3 points
Open interest, strikes captured near the price	5,768	5,771	+3
Put/call ratio, open interest	1.72	1.72	+0.00

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, 4,674 TRI option contracts traded, 6.4 times its own recent average.

Figure	Value
Calls traded	2,400
Puts traded	2,274
Against its recent average	6.4 times
Busier than	20 of its last 20 trading days
Open interest, whole chain	7,150 contracts
Volume to open interest	0.65
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 TRI'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	104.84	minus $765,435	115	105
21 Sep 2026	95.43	minus $348,655	110	105
28 Sep 2026	97.33	minus $323,093	110	105

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 TRI was bearish, paper trading.

Figure	Value
Side	Bearish at 45 trading days, no signal
Level above the close	100.76, the swing high of 24 Sep 2026, a close past it runs against the view
Level below the close	95.66, the swing low of 10 Sep 2026
The chart	Sits with the view
Strategy family	Bear call spread (sell a call spread above 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 TRI sat at the 12th percentile of the model's 45 trading day ranking, paper trading.

Timeframe	Percentile	Side
10 trading days	28 of 100	Neutral
20 trading days	24 of 100	Neutral
45 trading days	12 of 100	Bearish

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, 1 of 3 timeframes put TRI on the bearish side, paper trading.

Group	Timeframes	Side	On that side
Near	10 day, 20 day	Neutral	0 of 2
Long	45 day	Bearish	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 TRI had carried no signal for at least 18 trading days, paper trading.

Trading day	Signal	45 day percentile
25 Sep 2026	None	12 of 100
24 Sep 2026	None	18 of 100
23 Sep 2026	None	23 of 100
22 Sep 2026	None	39 of 100
21 Sep 2026	None	32 of 100
18 Sep 2026	None	42 of 100
17 Sep 2026	None	37 of 100
16 Sep 2026	None	57 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, 51 of 147 Industrials names were bullish and 37 were bearish, paper trading.

Sector	Names	Bullish	Bearish	Neutral
Industrials	147	51	37	59

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

TRI closed at 97.33 on 28 Sep 2026.

Figure	Value
Last close	97.33
Change over 5 trading days	+2.0%
Change over 21 trading days	-7.1%
Change over 63 trading days	+17.7%
Change over 252 trading days	-39.3%
52 week high	166.88
52 week low	76.28
20 day moving average	100.78
50 day moving average	100.90
200 day moving average	100.02
RSI, 14 days	46

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

TRI 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 29 Jul 2026	-7.1%
Move after the report of 30 Apr 2026	-1.3%
Move after the report of 28 Jan 2026	-3.9%
Move after the report of 1 May 2025	-0.1%

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

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Seasonality

In the 23 Septembers on record, TRI's average change was minus 1.3 percent, and it rose in 52.2 percent of them.

Month	Average change	Middle change	Share of years up	Years
September	-1.3%	+0.2%	52.2%	23
October	+0.8%	+1.9%	56.5%	23
November	+0.8%	+0.3%	56.5%	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.

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Questions

What is TRI's IV rank?: TRI's IV rank is 88 of 100 on 28 Sep 2026.
What move are TRI options pricing?: On 28 Sep 2026, TRI options priced a move of 13.8 percent down and 12.6 percent up by 16 Oct 2026.
Where are TRI's call wall and put wall?: On 28 Sep 2026, TRI's call wall is the 110 strike and its put wall is the 105 strike.
What was the desk's latest view of TRI on the Free plan?: On 25 Sep 2026 the desk's view of TRI was bearish, paper trading.
When does TRI report earnings next?: TRI reports next on 3 Nov 2026, a date confirmed by the company.

More Industrials names

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