Industrials

XPO, Inc. (XPO) options and signal

Figures as of 28 Sep 2026

XPO is XPO, Inc., 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	67 of 100	28 Sep
At the money IV	47.0%	28 Sep
Priced move to 16 Oct	10.2% down, 10.8% up	28 Sep
Call wall and put wall	220 and 155	28 Sep
Signal and the desk's view	No signal, view bullish	25 Sep
Last close	176.66	28 Sep
Next report	29 Oct 2026	28 Sep

Options Snapshot

XPO's IV rank is 67 of 100 on 28 Sep 2026.

Figure	Value
IV rank	67 of 100
At the money IV	47.0%, near month, 18 days
Put/call ratio, open interest	4.50
Call open interest, strikes captured near the price	3,580 contracts
Put open interest, strikes captured near the price	16,100 contracts
Cost to trade at the money	Fair, 37.0% of the option's mid price

IV rank is where the at the money IV sits among XPO'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, XPO options priced a move of 10.2 percent down and 10.8 percent up by 16 Oct 2026.

Expiry	Days	Down	Up	Range
16 Oct 2026	18	10.2%	10.8%	158.66 to 195.76
20 Nov 2026	53	18.3%	20.2%	144.36 to 212.36
18 Dec 2026	81	23.7%	23.5%	134.86 to 218.26
15 Jan 2027	109	24.5%	26.4%	133.46 to 223.36
19 Feb 2027	144	28.1%	31.4%	126.96 to 232.06
19 Mar 2027	172	28.0%	29.3%	127.16 to 228.46

The range is one standard deviation either side of the close of 176.66, 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, XPO's call wall is the 220 strike and its put wall is the 155 strike.

Figure	Value
Call wall, most open call gamma	220
Put wall, most open put gamma	155
Net dollar gamma, calls minus puts	minus $3.65 million
Total dollar gamma, both sides	$5.35 million
Close	176.66

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, XPO's at the money IV is 47.0 percent against 20 day realized volatility of 33.7 percent.

Figure	Value
At the money IV	47.0%
Realized volatility, 20 trading days	33.7%
Realized volatility, 60 trading days	32.6%
IV against its own weekly record	In the middle
Weekly readings on record	737, from 23 Sep 2011
Weeks the price moved more than the one week priced move	30.9% 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, XPO's at the money IV runs from 47.0 percent at 18 days to 42.7 percent at 172 days.

Days to expiry	At the money IV
18	47.0%
53	51.4%
81	48.3%
109	43.9%
144	48.6%
172	42.7%

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, XPO's IV ten percent below the price sits 5.6 points below at the money IV.

Strike area	Implied volatility	Against at the money
10% below the price	45.8%	-5.6 points
At the money	51.4%	0.0 points
10% above the price	49.3%	-2.1 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, XPO's surface spans 6 expiries out to 172 days, with IV from 39.1 to 118.9 percent near the price.

Figure	Value
Expiries captured	6
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	39
Lowest IV among them	39.1%
Highest IV among them	118.9%

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, XPO has 6 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	47.0%	612	9,257
20 Nov 2026	53	51.4%	315	4,553
18 Dec 2026	81	48.3%	373	341
15 Jan 2027	109	43.9%	1,425	1,661
19 Feb 2027	144	48.6%	195	104
19 Mar 2027	172	42.7%	662	155

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, XPO's largest open interest sits at the 155 strike, with 7,771 contracts across the captured expiries.

Strike	Call open interest	Put open interest	Total
155	33	7,738	7,771
145	52	4,286	4,338
105	5	1,501	1,506
185	201	981	1,182
220	1,010	17	1,027
230	598	2	600

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, XPO's at the money IV moved from 46.7 percent to 47.0 percent.

Figure	25 Sep	28 Sep	Change
At the money IV	46.7%	47.0%	+0.3 points
Open interest, strikes captured near the price	15,304	19,653	+4,349
Put/call ratio, open interest	3.29	4.49	+1.20

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, 7,007 XPO option contracts traded, 1.9 times its own recent average.

Figure	Value
Calls traded	552
Puts traded	6,455
Against its recent average	1.9 times
Busier than	17 of its last 20 trading days
Open interest, whole chain	20,836 contracts
Volume to open interest	0.34
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 XPO'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	203.40	minus $1.4 million	230	170
21 Sep 2026	174.34	minus $3.35 million	180	155
28 Sep 2026	176.66	minus $3.65 million	220	155

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 XPO was bullish, paper trading.

Figure	Value
Side	Bullish at 45 trading days, no signal
Level above the close	183.97, the swing high of 23 Sep 2026
Level below the close	171.59, the swing low of 16 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.

Open Read-out in RingMaster The Read-out guide

Rank by Timeframe

On 25 Sep 2026 XPO sat at the 82nd percentile of the model's 45 trading day ranking, paper trading.

Timeframe	Percentile	Side
10 trading days	95 of 100	Bullish
20 trading days	74 of 100	Neutral
45 trading days	82 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 XPO 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.

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Signal History

On 25 Sep 2026 XPO had carried no signal for 12 trading days, paper trading.

Trading day	Signal	45 day percentile
25 Sep 2026	None	82 of 100
24 Sep 2026	None	70 of 100
23 Sep 2026	None	65 of 100
22 Sep 2026	None	49 of 100
21 Sep 2026	None	72 of 100
18 Sep 2026	None	60 of 100
17 Sep 2026	None	82 of 100
16 Sep 2026	None	56 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

XPO closed at 176.66 on 28 Sep 2026.

Figure	Value
Last close	176.66
Change over 5 trading days	+1.3%
Change over 21 trading days	-7.8%
Change over 63 trading days	-14.3%
Change over 252 trading days	+36.8%
52 week high	232.05
52 week low	121.48
20 day moving average	181.12
50 day moving average	193.95
200 day moving average	191.99
RSI, 14 days	40

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

XPO reports next on 29 Oct 2026, a date confirmed by the company.

Figure	Value
Next report	29 Oct 2026, before the open
Date	Confirmed by the company
Move after the report of 30 Jul 2026	-0.1%
Move after the report of 30 Apr 2026	-2.2%
Move after the report of 28 Jan 2026	+1.8%
Move after the report of 30 Apr 2025	+8.9%

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

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Seasonality

In the 22 Septembers on record, XPO's average change was plus 0.2 percent, and it rose in 50.0 percent of them.

Month	Average change	Middle change	Share of years up	Years
September	+0.2%	-0.1%	50.0%	22
October	+6.6%	+6.5%	72.7%	22
November	+4.5%	+8.7%	60.9%	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 XPO's IV rank?: XPO's IV rank is 67 of 100 on 28 Sep 2026.
What move are XPO options pricing?: On 28 Sep 2026, XPO options priced a move of 10.2 percent down and 10.8 percent up by 16 Oct 2026.
Where are XPO's call wall and put wall?: On 28 Sep 2026, XPO's call wall is the 220 strike and its put wall is the 155 strike.
What was the desk's latest view of XPO on the Free plan?: On 25 Sep 2026 the desk's view of XPO was bullish, paper trading.
When does XPO report earnings next?: XPO reports next on 29 Oct 2026, a date confirmed by the company.

More Industrials names

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