American Airlines Group (AAL) Options Chain

NASDAQ: AALConsumer DiscretionaryAir Freight/Delivery ServicesUSD

12.76-0.04 (-0.31%)

At close: Oct 9, 4:00 PM ET · Delayed 15 min

Expiration date

Expiration: Dec 18, 2026
Days to expiration: 68
Share price: $12.76
Put/call ratio (OI): 1.27
Put/call ratio (volume): 0.96
ATM implied volatility: 44.0%
Expected move: ±$2.42
Open interest (C / P): 137.25K / 174.89K

AAL options summary

The AAL options chain for the December 18, 2026 expiration lists 28 call and 26 put contracts, with 68 days until expiration. Open interest stands at 137,245 calls and 174,893 puts, a put/call ratio of 1.27, which is more bearish, with puts outnumbering calls. At-the-money implied volatility near the $13.00 strike is 44.0%, which implies the market expects a move of about ±$2.42 (19.0%) in American Airlines Group stock by expiration.

The most open interest sits at the $15.00 call (34.60K contracts) and the $10.00 put (39.86K contracts).

Summary generated from market data by MetaCap's automated system. Methodology

AAL options chain · December 18, 2026

AAL calls and puts by strike price. Shaded cells are in the money.
Calls							Puts
OI	Vol	IV	Last	Bid	Ask	Strike	Bid	Ask	Last	IV	Vol	OI
29	23	409.4%	11.80	10.65	13.20	1.00	0.00	0.01	0.01	225.0%	1	576
57	16	387.5%	10.75	10.35	12.10	2.00	0.00	0.00	0.05	50.0%	1	0
78	36	231.3%	9.65	8.80	11.10	3.00	0.00	0.02	0.01	137.5%	2	110
214	1	257.8%	8.70	8.65	10.00	4.00	0.00	0.02	0.01	112.5%	65	172
495	9	130.5%	7.75	6.90	8.80	5.00	0.00	0.02	0.01	90.6%	2	34,483
48	1	194.5%	6.75	6.35	8.60	6.00	0.00	0.04	0.04	82.8%	1	229
42	1	88.3%	5.80	4.65	7.05	7.00	0.00	0.05	0.01	69.5%	50	567
933	7	71.5%	4.88	4.70	5.00	8.00	0.01	0.06	0.02	59.0%	12	24,429
122	50	56.3%	4.80	3.60	4.10	9.00	0.01	0.07	0.08	53.1%	1	7,145
1,376	112	57.0%	2.91	2.85	3.15	10.00	0.10	0.12	0.11	45.9%	17	39,864
674	1	56.7%	2.25	1.88	2.25	11.00	0.24	0.29	0.28	44.4%	20	7,280
7,184	35	54.7%	1.37	1.39	1.59	12.00	0.52	0.56	0.55	41.5%	1,163	36,775
AAL $12.76
3,358	252	46.9%	0.84	0.84	0.93	13.00	0.97	1.04	1.00	41.0%	1,791	8,998
10,052	246	44.1%	0.49	0.49	0.52	14.00	1.40	1.70	1.65	41.2%	5	2,392
34,601	374	44.4%	0.27	0.26	0.30	15.00	2.31	2.56	2.55	45.6%	18	8,340
6,160	715	44.1%	0.14	0.14	0.16	16.00	2.84	3.50	3.42	51.6%	171	442
18,352	1,990	43.8%	0.08	0.06	0.08	17.00	4.10	4.50	4.35	59.9%	4	2,592
2,518	36	53.1%	0.06	0.04	0.17	18.00	5.10	5.50	5.33	67.4%	4	1
311	50	52.7%	0.04	0.01	0.06	19.00	5.75	6.85	6.34	52.7%	—	0
19,788	301	52.7%	0.04	0.02	0.05	20.00	7.05	7.65	7.48	65.4%	852	496
16	2	58.6%	0.20	0.01	0.07	21.00	—	—	—	—	—	—
10,163	100	61.7%	0.02	0.01	0.06	22.00	8.45	9.65	9.05	103.7%	1	1
0	—	25.0%	0.13	0.00	0.00	23.00	8.45	10.80	10.34	119.6%	—	0
0	—	25.0%	0.10	0.00	0.00	24.00	—	—	—	—	—	—
8,589	1	68.0%	0.01	0.00	0.04	25.00	0.00	0.00	10.30	—	5	0
5,432	5	74.2%	0.01	0.00	0.04	27.00	12.95	13.55	12.00	—	1	1
2,865	4	82.8%	0.01	0.00	0.04	30.00	0.00	0.00	19.70	—	2	0
3,788	10	87.5%	0.02	0.00	0.02	35.00	0.00	0.00	18.73	—	1	0

In-the-money callsIn-the-money puts. IV = implied volatility, OI = open interest (contracts). Each contract covers 100 shares. Quotes delayed at least 15 minutes.

Frequently asked questions

What is the AAL put/call ratio?

For the December 18, 2026 expiration, the AAL put/call ratio based on open interest is 1.27 (174,893 puts vs 137,245 calls), and 0.96 based on today's volume. A ratio above 1 means more puts than calls.

What is AAL's implied volatility?

At-the-money implied volatility for AAL options expiring December 18, 2026 is about 44.0%, an annualized estimate of how much the market expects American Airlines Group stock to move.

How many AAL option expiration dates are there?

AAL has 19 listed expiration dates, from Oct 16, 2026 to Jan 19, 2029.

What does "in the money" mean?

A call is in the money when the strike price is below the current share price; a put is in the money when the strike is above it. In-the-money contracts have intrinsic value and are shaded in the table.