TRU-SENTIMENT · DeltaNeutral
ONON Trading Analysis - 09/14/2026 11:47 AM — TRU-SENTIMENT
Options chain · Stock chart · Baseline chart
ONON (On Holding AG) at $27.50. True Sentiment Bearish, delta 40-60 call 5% / put 95%, call $129,095 vs put $2,360,966. RSI 30.7.
- Symbol
- ONON
- Price
- $27.50
- Article bias (separate from True Sentiment)
- bearish
- Conviction
- medium
- Published
- 2026-09-14 11:47:00 ET
- Author
- DeltaNeutral staff
TRUE SENTIMENT ANALYSIS (DELTA 40-60 OPTIONS)
True Sentiment Analysis (Delta 40-60 Options):Based on the provided true sentiment options data, the overall sentiment is bearish.
The call dollar volume is $129,095, and the put dollar volume is $2,360,966, indicating a strong bearish bias.
The put/call ratio is 94.8%, suggesting that traders are more bearish than bullish on ONON.
Key Statistics: ONON
📈 Analysis
News Headlines & Context:
Recent news headlines for ONON include:
- ONON's recent partnership with a major athletic brand has been seen as a positive development by analysts.
- The company has been investing heavily in digital marketing, which has helped to increase brand awareness.
- ONON's supply chain has been impacted by recent global events, leading to concerns about potential delays.
These headlines suggest that ONON is actively working to expand its business and improve its brand presence, but may face challenges related to its supply chain.
Fundamental Analysis:
Based on the provided data, a comprehensive fundamental analysis cannot be conducted. However, key fundamental metrics that would be analyzed include:
- Revenue growth rate (YoY and recent trends)
- Profit margins (gross, operating, net margins)
- Earnings per share (EPS) and recent earnings trends
- P/E ratio and valuation compared to sector/peers
- Key fundamental strengths or concerns (Debt/Equity, ROE, Free Cash Flow)
- Analyst consensus and target price context
Current Market Position:
Based on the provided daily history data, ONON's current price is $27.45.
Recent price action has shown a decline from $39.05 on 2026-08-10 to $27.45 on 2026-09-14.
Technical Analysis:
Technical Indicators
The RSI (14) of 30.71 indicates that ONON is currently oversold.
The MACD of -1.82 suggests a bearish trend.
The 50-day SMA of $33.41 and 20-day SMA of $28.75 indicate a downtrend.
True Sentiment Analysis (Delta 40-60 Options):
Based on the provided true sentiment options data, the overall sentiment is bearish.
The call dollar volume is $129,095, and the put dollar volume is $2,360,966, indicating a strong bearish bias.
The put/call ratio is 94.8%, suggesting that traders are more bearish than bullish on ONON.
Key Price Levels (observational only):
25-Day Price Forecast:
Based on the current technical trends, momentum, and indicators, ONON is projected for $25.00 to $30.00.
This range is based on the current SMA trends, RSI momentum, MACD signals, and recent volatility (ATR).
Defined Risk Strategy Recommendations:
Based on the price forecast, the following defined risk strategies are recommended:
- Bear Put Spread: Buy PUT at $28.00 and sell PUT at $26.00
- Bull Call Spread: Buy CALL at $25.00 and sell CALL at $27.00
- Iron Condor: Sell CALL at $30.00, buy CALL at $32.00, sell PUT at $24.00, and buy PUT at $22.00
Risk Factors:
- Technical warning signs or weaknesses: oversold RSI and bearish MACD
- Sentiment divergences from price action: strong bearish bias in options flow
- Volatility and ATR considerations: recent increase in volatility
Summary & Conviction Level:
The overall bias is bearish.
The conviction level is high based on the alignment of indicators.
One-line trade idea: ONON may continue to decline due to bearish sentiment and technical indicators.
View ONON Options Chain