Armada Acquisition Corp. II (XRPN) Options Statistics & Positioning

Armada Acquisition Corp. II (XRPN) options trade at a 30-day at-the-money implied volatility of 163.7%, an IV rank of 0 out of 100 over the past year. The options market prices a ±$3.85 (±22.7%) move in XRPN for the front expiration. Max pain sits at $20 and the put/call open interest ratio is 0.56. Statistics are computed by OptiView from delayed OPRA options data and refresh every trading day.

Data as of Oct 9, 2026, 3:55 PM ET · OPRA data 15 minutes delayed · For information only — not investment advice.

Last close

$16.97

52-week range

$16.97 – $16.97

ATM IV (30d)

163.7%

IV rank

0 / 100

Low

Expected move

±$3.85 (±22.7%)

Put/call OI

0.56

Call-heavy

Max pain

$20

↑ 17.9% above close

Next earnings

Aug 11, 2027

What's XRPN's IV rank right now?Where's the max pain for XRPN?Explain what gamma exposure means for XRPN.

Most Active XRPN Contracts

Contract	Expiration	DTE	Last	IV	Volume
XRPN $10 call	Oct 16, 2026	7d	$6.70	0.0%	3,042
XRPN $17.5 call	Oct 16, 2026	7d	$1.15	163.7%	2,459
XRPN $22.5 call	Oct 16, 2026	7d	$0.65	220.0%	1,582
XRPN $15 call	Oct 16, 2026	7d	$1.90	90.2%	1,567
XRPN $12.5 call	Oct 16, 2026	7d	$4.00	30.2%	1,318

See all active XRPN contracts →

Explore XRPN Options Statistics

XRPN Implied Volatility

163.7% ATM IV (30d)

An IV rank of 0 places implied volatility in the lower part of its 52-week range.

Full implied volatility analysis →

XRPN Open Interest

0.56 put/call OI ratio

18,243 calls and 10,283 puts outstanding across all expirations.

Full open interest analysis →

XRPN Max Pain

$20 max pain

17.9% above the last close — see how max pain has moved over the past year.

Full max pain analysis →

XRPN Gamma Exposure

$20.24M net GEX

Positive dealer gamma — hedging currently leans against price swings.

Full gamma exposure analysis →

XRPN Options Volume

21,771 contracts traded

Put/call volume ratio 0.19 — plus contracts running far above their usual volume.

Full volume & flow analysis →

XRPN Most Active Options

$10 top volume strike

The 25 most actively traded XRPN contracts with price, IV, greeks, and volume vs. average.

Full active contracts analysis →

Upcoming Earnings

XRPN's next expected earnings date is Aug 11, 2027. Options currently price a ±$3.85 (±22.7%) move for the front expiration.

Explore the payoff profile of option on XRPN for free

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XRPN Options FAQ

When is XRPN's next earnings date?

XRPN's next expected earnings date is Aug 11, 2027. Options currently price a ±$3.85 (±22.7%) move for the front expiration.

How often is XRPN options data on this page updated?

All XRPN statistics on this page are computed by OptiView from delayed OPRA options data and refresh every trading day after the session close.

Where can I see XRPN max pain, open interest, and implied volatility in detail?

OptiView publishes dedicated XRPN pages for implied volatility, max pain, open interest, gamma exposure, options volume, and the most active contracts — each with charts, history, and a plain-English explanation of what the numbers mean.

Methodology. IV rank compares the current 30-day at-the-money implied volatility with its highest and lowest values over the past 52 weeks. Max pain is the strike that minimizes the total payout to option holders at expiration. The call and put walls are the strikes carrying the largest call and put open interest across all expirations. Net gamma exposure (GEX) is measured from the dealer perspective. All statistics are derived from delayed OPRA options data.

Options trading involves significant risk, and losses can exceed your initial investment. Always consult a licensed financial professional before making investment decisions. OptiView does not provide financial advice; all figures on this page are descriptive statistics, not recommendations.