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 15, 2028
Days to expiration: 796
Share price: $12.76
Put/call ratio (OI): 1.53
Put/call ratio (volume): 0.55
ATM implied volatility: 48.9%
Expected move: ±$9.21
Open interest (C / P): 38.21K / 58.31K

AAL options summary

The AAL options chain for the December 15, 2028 expiration lists 16 call and 16 put contracts, with 796 days until expiration. Open interest stands at 38,208 calls and 58,308 puts, a put/call ratio of 1.53, which is more bearish, with puts outnumbering calls. At-the-money implied volatility near the $13.00 strike is 48.9%, which implies the market expects a move of about ±$9.21 (72.2%) in American Airlines Group stock by expiration.

The most open interest sits at the $10.00 call (14.30K contracts) and the $2.00 put (13.38K contracts).

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

AAL options chain · December 15, 2028

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
0	1	—	15.00	0.00	0.00	1.00	0.00	0.00	0.05	50.0%	2	0
18	4	184.2%	13.85	10.50	13.50	2.00	0.05	0.20	0.06	79.1%	10	13,385
28	1	86.2%	10.65	8.75	11.65	3.00	0.05	0.90	0.13	88.5%	1	8,086
34	1	81.6%	9.75	8.15	10.75	4.00	0.00	0.50	0.27	59.2%	2	7,029
347	1	72.2%	8.40	8.30	8.85	5.00	0.22	0.37	0.35	51.1%	3	2,402
539	1	69.6%	6.94	6.25	7.40	8.00	0.88	1.05	0.98	47.8%	4	9,654
14,303	3	59.8%	5.30	5.20	5.60	10.00	1.40	1.85	1.62	46.4%	124	8,438
AAL $12.76
489	4	55.8%	3.90	3.65	4.35	13.00	2.70	3.25	3.03	41.9%	28	4,126
11,879	18	54.0%	3.25	2.99	3.55	15.00	3.90	4.35	4.21	38.6%	30	2,455
2,190	10	59.4%	2.58	2.59	3.75	17.00	4.35	5.75	5.50	37.2%	10	393
897	1	51.3%	1.90	1.75	2.23	20.00	6.70	8.30	7.80	38.2%	2	1,094
1,268	1	52.0%	1.60	1.46	2.02	22.00	9.10	9.35	7.75	22.4%	10	41
2,351	5	50.8%	1.20	1.15	1.45	25.00	11.70	12.70	11.75	36.2%	3	1,203
1,451	371	51.6%	1.25	0.90	1.16	27.00	10.00	15.00	13.75	44.9%	2	0
2,369	1	49.7%	0.87	0.55	0.83	30.00	16.00	17.20	14.62	—	1	2
45	1	65.1%	0.66	0.00	2.86	35.00	19.80	24.50	21.15	77.4%	2	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 15, 2028 expiration, the AAL put/call ratio based on open interest is 1.53 (58,308 puts vs 38,208 calls), and 0.55 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 15, 2028 is about 48.9%, 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.