Consumer Discretionary

Ulta Beauty Inc (ULTA) options and signal

Figures as of 28 Sep 2026

ULTA is Ulta Beauty Inc, 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	56 of 100	28 Sep
At the money IV	35.3%	28 Sep
Priced move to 30 Oct	11.5% down, 11.2% up	28 Sep
Call wall and put wall	600 and 470	28 Sep
Signal and the desk's view	No signal, view bearish	25 Sep
Last close	549.13	28 Sep
Next report	3 Dec 2026	28 Sep

Options Snapshot

ULTA's IV rank is 56 of 100 on 28 Sep 2026.

Figure	Value
IV rank	56 of 100
At the money IV	35.3%, near month, 32 days
Put/call ratio, open interest	0.98
Call open interest, strikes captured near the price	13,300 contracts
Put open interest, strikes captured near the price	13,100 contracts
Cost to trade at the money	Wide, 43.2% of the option's mid price

IV rank is where the at the money IV sits among ULTA'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, ULTA options priced a move of 11.5 percent down and 11.2 percent up by 30 Oct 2026.

Expiry	Days	Down	Up	Range
2 Oct 2026	4	5.0%	3.7%	521.53 to 569.43
9 Oct 2026	11	8.4%	8.2%	503.13 to 593.93
16 Oct 2026	18	9.4%	8.9%	497.53 to 597.73
30 Oct 2026	32	11.5%	11.2%	486.23 to 610.63
20 Nov 2026	53	14.1%	14.5%	471.53 to 628.83
18 Dec 2026	81	19.7%	19.8%	441.13 to 658.13
19 Mar 2027	172	26.0%	29.9%	406.13 to 713.13

The range is one standard deviation either side of the close of 549.13, 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, ULTA's call wall is the 600 strike and its put wall is the 470 strike.

Figure	Value
Call wall, most open call gamma	600
Put wall, most open put gamma	470
Net dollar gamma, calls minus puts	$3.43 million
Total dollar gamma, both sides	$24.97 million
Close	549.13

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, ULTA's at the money IV is 35.3 percent against 20 day realized volatility of 28.6 percent.

Figure	Value
At the money IV	35.3%
Realized volatility, 20 trading days	28.6%
Realized volatility, 60 trading days	32.8%
IV against its own weekly record	In the middle
Weekly readings on record	846, from 21 May 2010
Weeks the price moved more than the one week priced move	26.2% of 252 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, ULTA's at the money IV runs from 46.5 percent at 4 days to 44.3 percent at 172 days.

Days to expiry	At the money IV
4	46.5%
11	42.5%
18	39.1%
25	38.1%
32	35.3%
53	36.0%
81	41.9%
172	44.3%

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, ULTA's IV ten percent below the price sits 4.0 points above at the money IV.

Strike area	Implied volatility	Against at the money
10% below the price	39.2%	+4.0 points
At the money	35.3%	0.0 points
10% above the price	36.4%	+1.1 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, ULTA's surface spans 9 expiries out to 172 days, with IV from 32.6 to 61.0 percent near the price.

Figure	Value
Expiries captured	9
Nearest expiry	2 Oct 2026, 4 days
Farthest expiry	19 Mar 2027, 172 days
Points within 10% of the price, 7 days out or more	148
Lowest IV among them	32.6%
Highest IV among them	61.0%

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, ULTA has 9 captured expiries, from 2 Oct 2026 to 19 Mar 2027.

Expiry	Days	At the money IV	Call open interest	Put open interest
2 Oct 2026	4	46.5%	939	619
9 Oct 2026	11	42.5%	530	3,872
16 Oct 2026	18	39.1%	1,075	1,482
23 Oct 2026	25	38.1%	69	110
30 Oct 2026	32	35.3%	178	38
20 Nov 2026	53	36.0%	1,853	949
18 Dec 2026	81	41.9%	930	1,548
15 Jan 2027	109	39.9%	4,710	4,131
19 Mar 2027	172	44.3%	2,977	399

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, ULTA's largest open interest sits at the 470 strike, with 2,397 contracts across the captured expiries.

Strike	Call open interest	Put open interest	Total
470	78	2,319	2,397
465	10	2,033	2,043
410	1,361	230	1,591
600	1,454	107	1,561
420	1,275	253	1,528
540	624	186	810

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, ULTA's at the money IV moved from 32.5 percent to 35.3 percent.

Figure	25 Sep	28 Sep	Change
At the money IV	32.5%	35.3%	+2.8 points
Open interest, strikes captured near the price	26,133	26,409	+276
Put/call ratio, open interest	1.03	0.99	-0.03

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, 8,633 ULTA option contracts traded, 1.2 times its own recent average.

Figure	Value
Calls traded	5,150
Puts traded	3,483
Against its recent average	1.2 times
Busier than	12 of its last 20 trading days
Open interest, whole chain	35,834 contracts
Volume to open interest	0.24
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 ULTA'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	541.35	$4.37 million	550	550
21 Sep 2026	557.86	$3.02 million	600	470
28 Sep 2026	549.13	$3.43 million	600	470

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 ULTA was bearish, paper trading.

Figure	Value
Side	Bearish at 45 trading days, no signal
Level above the close	555.59, the swing high of 15 Sep 2026, a close past it runs against the view
Level below the close	530.80, the swing low of 10 Sep 2026
The chart	Sits against 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.

Open Read-out in RingMaster The Read-out guide

Rank by Timeframe

On 25 Sep 2026 ULTA sat at the 11th percentile of the model's 45 trading day ranking, paper trading.

Timeframe	Percentile	Side
10 trading days	7 of 100	Bearish
20 trading days	5 of 100	Bearish
45 trading days	11 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, 3 of 3 timeframes put ULTA on the bearish side, paper trading.

Group	Timeframes	Side	On that side
Near	10 day, 20 day	Bearish	2 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 ULTA had carried no signal for at least 18 trading days, paper trading.

Trading day	Signal	45 day percentile
25 Sep 2026	None	11 of 100
24 Sep 2026	None	13 of 100
23 Sep 2026	None	20 of 100
22 Sep 2026	None	13 of 100
21 Sep 2026	None	42 of 100
18 Sep 2026	None	15 of 100
17 Sep 2026	None	35 of 100
16 Sep 2026	None	8 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, 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

ULTA closed at 549.13 on 28 Sep 2026.

Figure	Value
Last close	549.13
Change over 5 trading days	-1.6%
Change over 21 trading days	+1.7%
Change over 63 trading days	+19.6%
Change over 252 trading days	+1.8%
52 week high	714.97
52 week low	443.60
20 day moving average	546.80
50 day moving average	529.83
200 day moving average	556.73
RSI, 14 days	54

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

ULTA reports next on 3 Dec 2026, a date confirmed by the company.

Figure	Value
Next report	3 Dec 2026
Date	Confirmed by the company

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

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Short Volume

On 25 Sep 2026, 55.8 percent of ULTA's reported volume at the covered venues was marked short.

Figure	Value
Short sale share, 25 Sep	55.8%
Five day average	59.0%
52 week median	60.2%
Short interest, share of shares outstanding	5.7% at the 15 Sep 2026 settlement
Days to cover	4.3

Short sale volume counts trades marked short at the covered venues, mostly off exchange. It is not the same as short interest.

Short volume as of 25 Sep 2026. Current on every plan.

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Seasonality

In the 18 Septembers on record, ULTA's average change was plus 9.0 percent, and it rose in 72.2 percent of them.

Month	Average change	Middle change	Share of years up	Years
September	+9.0%	+5.4%	72.2%	18
October	-2.8%	-3.5%	44.4%	18
November	+6.1%	+5.7%	83.3%	18

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 2 headlines naming ULTA in the 3 days to 28 Sep 2026.

Figure	Value
Headlines in the window	2
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 ULTA's IV rank?: ULTA's IV rank is 56 of 100 on 28 Sep 2026.
What move are ULTA options pricing?: On 28 Sep 2026, ULTA options priced a move of 11.5 percent down and 11.2 percent up by 30 Oct 2026.
Where are ULTA's call wall and put wall?: On 28 Sep 2026, ULTA's call wall is the 600 strike and its put wall is the 470 strike.
What was the desk's latest view of ULTA on the Free plan?: On 25 Sep 2026 the desk's view of ULTA was bearish, paper trading.
When does ULTA report earnings next?: ULTA reports next on 3 Dec 2026, a date confirmed by the company.

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