VRT — Nov 260/330 call spread
Vertiv fell 8.4% on the week while the business under it held: 2025 revenue was $10.23B at a 37% gross margin, and on Sep 3 it agreed to buy Utility Innovations for up to $2.6B to own the grid connection outside the building. The Oct 21 Q3 print lands inside November expiry, where the chain prices a 21% move with IV in the 30th percentile of its 52-week range, so the 260/330 call spread buys the rebound for $19.22 on a $70 width.
- Ticker: VRT
- Direction: Bullish
- Risk profile: directional
- Confidence: medium
- Catalyst: Q3 2026 earnings (date est.) (2026-10-21)
- Cohort: 2026-09-13
- Expires: 2026-09-20
- Max loss: $19.22
- Max gain: $50.78
Structure
- long call 260 2026-11-20
- short call 330 2026-11-20
Signals
- 2025 revenue / gross margin: $10.23B / 37.2% (DB)
- Utility Innovations acquisition: Up to $2.6B (Motley Fool, Sep 3) (web_search)
- Week return: -8.4% (52w position 50%) (DB)
- IV percentile (52w): 30 (DB)
What invalidates this thesis
A Q3 order print that shows hyperscaler pull-ins finishing, or another leg down in NVDA-linked hardware, keeps the stock under the $279.22 breakeven through Nov 20.