Consumer Discretionary

Wingstop Inc. (WING) options and signal

Figures as of 28 Sep 2026

WING is Wingstop 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	97 of 100	28 Sep
At the money IV	66.5%	28 Sep
Priced move to 16 Oct	14.3% down, 13.7% up	28 Sep
Call wall and put wall	110 and 100	28 Sep
Signal and the desk's view	No signal, view bullish	25 Sep
Last close	101.80	28 Sep
Next report	3 Nov 2026	28 Sep

Options Snapshot

WING's IV rank is 97 of 100 on 28 Sep 2026.

Figure	Value
IV rank	97 of 100
At the money IV	66.5%, near month, 18 days
Put/call ratio, open interest	1.21
Call open interest, strikes captured near the price	8,240 contracts
Put open interest, strikes captured near the price	9,930 contracts
Cost to trade at the money	Fair, 30.0% of the option's mid price

IV rank is where the at the money IV sits among WING'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, WING options priced a move of 14.3 percent down and 13.7 percent up by 16 Oct 2026.

Expiry	Days	Down	Up	Range
16 Oct 2026	18	14.3%	13.7%	87.20 to 115.70
20 Nov 2026	53	28.0%	26.5%	73.30 to 128.80
18 Dec 2026	81	33.0%	34.1%	68.20 to 136.50
15 Jan 2027	109	36.3%	37.3%	64.80 to 139.80
19 Mar 2027	172	45.0%	47.8%	56.00 to 150.50

The range is one standard deviation either side of the close of 101.80, 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, WING's call wall is the 110 strike and its put wall is the 100 strike.

Figure	Value
Call wall, most open call gamma	110
Put wall, most open put gamma	100
Net dollar gamma, calls minus puts	minus $320,385
Total dollar gamma, both sides	$2.13 million
Close	101.80

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, WING's at the money IV is 66.5 percent against 20 day realized volatility of 62.9 percent.

Figure	Value
At the money IV	66.5%
Realized volatility, 20 trading days	62.9%
Realized volatility, 60 trading days	59.4%
IV against its own weekly record	High, in the top fifth
Weekly readings on record	564, from 26 Jun 2015
Weeks the price moved more than the one week priced move	30.1% 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, WING's at the money IV runs from 66.5 percent at 18 days to 68.9 percent at 172 days.

Days to expiry	At the money IV
18	66.5%
53	73.2%
81	71.5%
109	69.2%
172	68.9%

Far expiries price more volatility than near ones, an upward sloping 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, WING's IV ten percent below the price sits 3.5 points above at the money IV.

Strike area	Implied volatility	Against at the money
10% below the price	76.7%	+3.5 points
At the money	73.2%	0.0 points
10% above the price	75.0%	+1.8 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, WING's surface spans 5 expiries out to 172 days, with IV from 59.0 to 75.8 percent near the price.

Figure	Value
Expiries captured	5
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	20
Lowest IV among them	59.0%
Highest IV among them	75.8%

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, WING has 5 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	66.5%	2,058	2,992
20 Nov 2026	53	73.2%	1,604	2,558
18 Dec 2026	81	71.5%	1,249	1,455
15 Jan 2027	109	69.2%	2,065	2,506
19 Mar 2027	172	68.9%	1,264	417

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, WING's largest open interest sits at the 115 strike, with 1,926 contracts across the captured expiries.

Strike	Call open interest	Put open interest	Total
115	969	957	1,926
110	805	878	1,683
100	618	981	1,599
120	798	338	1,136
80	101	1,005	1,106
105	280	779	1,059

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, WING's at the money IV moved from 63.9 percent to 66.5 percent.

Figure	25 Sep	28 Sep	Change
At the money IV	63.9%	66.5%	+2.6 points
Open interest, strikes captured near the price	17,618	18,168	+550
Put/call ratio, open interest	1.23	1.20	-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.

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Changed Hands

On 28 Sep 2026, 2,972 WING option contracts traded, 1.0 times its own recent average.

Figure	Value
Calls traded	1,546
Puts traded	1,426
Against its recent average	1.0 times
Busier than	2 of its last 20 trading days
Open interest, whole chain	22,591 contracts
Volume to open interest	0.13
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 WING'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	111.36	minus $1.3 million	115	130
21 Sep 2026	107.33	minus $323,859	110	115
28 Sep 2026	101.80	minus $320,385	110	100

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 WING was bullish, paper trading.

Figure	Value
Side	Bullish at 45 trading days, no signal
Level above the close	105.88, the swing high of 9 Sep 2026
Level below the close	100.13, the swing low of 15 Sep 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.

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Rank by Timeframe

On 25 Sep 2026 WING sat at the 83rd percentile of the model's 45 trading day ranking, paper trading.

Timeframe	Percentile	Side
10 trading days	70 of 100	Neutral
20 trading days	81 of 100	Bullish
45 trading days	83 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.

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Timeframe Agreement

On 25 Sep 2026, 2 of 3 timeframes put WING on the bullish side, paper trading.

Group	Timeframes	Side	On that side
Near	10 day, 20 day	Bullish	1 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 WING had carried no signal for 6 trading days, paper trading.

Trading day	Signal	45 day percentile
25 Sep 2026	None	83 of 100
24 Sep 2026	None	62 of 100
23 Sep 2026	None	85 of 100
22 Sep 2026	None	51 of 100
21 Sep 2026	None	91 of 100
18 Sep 2026	None	80 of 100
17 Sep 2026	Bullish	97 of 100
16 Sep 2026	None	70 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

WING closed at 101.80 on 28 Sep 2026.

Figure	Value
Last close	101.80
Change over 5 trading days	-5.2%
Change over 21 trading days	-7.4%
Change over 63 trading days	-38.5%
Change over 252 trading days	-59.2%
52 week high	302.80
52 week low	95.82
20 day moving average	106.51
50 day moving average	116.52
200 day moving average	179.28
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

WING 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	+3.4%
Move after the report of 30 Apr 2026	-2.0%
Move after the report of 28 Jan 2026	-0.1%
Move after the report of 30 Apr 2025	+14.5%

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

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Seasonality

In the 11 Septembers on record, WING's average change was minus 3.5 percent, and it rose in 45.5 percent of them.

Month	Average change	Middle change	Share of years up	Years
September	-3.5%	-3.3%	45.5%	11
October	-4.5%	-4.4%	36.4%	11
November	+9.0%	+9.4%	72.7%	11

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 WING 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 WING's IV rank?: WING's IV rank is 97 of 100 on 28 Sep 2026.
What move are WING options pricing?: On 28 Sep 2026, WING options priced a move of 14.3 percent down and 13.7 percent up by 16 Oct 2026.
Where are WING's call wall and put wall?: On 28 Sep 2026, WING's call wall is the 110 strike and its put wall is the 100 strike.
What was the desk's latest view of WING on the Free plan?: On 25 Sep 2026 the desk's view of WING was bullish, paper trading.
When does WING report earnings next?: WING reports next on 3 Nov 2026, a date confirmed by the company.

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