Caterpillar (CAT) Options Chain

NYSE: CATIndustrialsConstruction/Ag Equipment/TrucksUSD

800.47+4.29 (+0.54%)

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

Expiration date

Expiration: Jan 21, 2028
Days to expiration: 468
Share price: $800.47
Put/call ratio (OI): 0.74
Put/call ratio (volume): 0.86
ATM implied volatility: 40.2%
Expected move: ±$364.60
Open interest (C / P): 12.79K / 9.43K

CAT options summary

The CAT options chain for the January 21, 2028 expiration lists 91 call and 78 put contracts, with 468 days until expiration. Open interest stands at 12,793 calls and 9,428 puts, a put/call ratio of 0.74, which is fairly balanced between calls and puts. At-the-money implied volatility near the $800.00 strike is 40.2%, which implies the market expects a move of about ±$364.60 (45.5%) in Caterpillar stock by expiration.

The most open interest sits at the $1,580.00 call (1.03K contracts) and the $230.00 put (1.34K contracts).

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

CAT options chain · January 21, 2028

CAT 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
16	1	91.3%	713.60	584.00	602.00	230.00	0.10	1.69	1.71	52.9%	1	1,344
6	1	73.7%	550.41	564.00	580.00	240.00	0.15	1.85	1.26	51.9%	2	29
7	1	184.8%	666.00	670.00	688.00	250.00	0.41	1.58	2.50	49.0%	5	45
4	2	51.0%	453.97	534.00	552.00	260.00	0.29	1.94	1.10	49.0%	1	12
17	1	84.6%	700.00	548.00	566.00	270.00	0.50	20.00	6.62	65.2%	2	45
6	1	67.6%	522.76	524.00	544.00	280.00	0.75	2.60	5.25	48.1%	3	14
4	1	65.6%	513.76	514.00	534.00	290.00	0.95	2.64	1.90	46.8%	1	10
20	1	66.0%	527.85	508.00	524.00	300.00	1.28	2.76	2.22	45.7%	10	45
20	1	65.0%	526.29	499.70	514.00	310.00	4.35	11.00	5.00	54.0%	7	10
25	3	77.1%	523.82	502.00	522.00	320.00	1.95	3.65	2.99	45.1%	1	21
33	3	63.4%	472.62	481.80	496.20	330.00	2.45	5.35	5.16	47.0%	1	17
62	1	62.0%	474.99	472.00	487.10	340.00	2.87	4.70	3.90	44.5%	5	67
14	12	61.4%	482.20	464.00	477.70	350.00	2.62	5.35	5.85	44.2%	2	35
8	12	60.6%	455.50	454.00	470.00	360.00	3.35	7.30	6.10	45.8%	4	10
7	1	71.7%	534.35	460.00	478.00	370.00	0.00	0.00	10.27	12.5%	18	0
23	4	69.7%	511.30	450.00	468.00	380.00	2.90	9.60	6.83	45.9%	1	21
0	1	—	511.05	0.00	0.00	390.00	5.85	10.65	8.40	45.7%	5	36
31	1	58.2%	422.34	420.00	435.45	400.00	6.70	8.35	7.91	41.8%	2	909
16	1	56.7%	440.92	410.00	426.00	410.00	7.60	12.25	8.45	44.6%	1	14
38	1	56.1%	402.94	402.00	417.05	420.00	7.25	13.35	12.22	44.3%	2	62
9	1	55.5%	412.13	392.00	410.00	430.00	8.70	15.25	8.50	44.5%	2	35
19	1	55.8%	393.50	386.00	402.00	440.00	10.30	14.15	11.50	42.3%	1	62
34	4	54.4%	390.75	378.00	390.70	450.00	8.85	17.40	12.90	43.5%	2	266
23	6	63.6%	412.65	384.00	404.00	460.00	12.80	14.65	16.78	40.1%	2	31
19	3	53.3%	355.58	360.00	376.00	470.00	9.70	20.35	19.13	43.0%	18	37
10	2	52.9%	363.00	352.00	368.00	480.00	14.65	21.30	19.85	42.3%	2	114
0	7	—	371.10	0.00	0.00	490.00	16.10	20.10	25.40	40.2%	18	26
47	1	51.2%	393.50	336.00	349.65	500.00	18.20	22.85	18.85	40.6%	15	202
16	4	51.5%	330.31	330.00	342.70	510.00	19.55	25.50	20.01	40.9%	10	27
32	10	51.5%	322.13	322.00	337.45	520.00	19.40	24.85	21.40	39.2%	1	102
68	1	50.9%	366.70	313.50	330.00	530.00	23.15	26.65	28.80	38.9%	4	49
88	1	50.4%	324.88	306.00	322.00	540.00	25.45	29.40	21.95	39.1%	5	85
148	2	52.6%	307.09	298.00	312.50	550.00	27.30	34.25	29.25	40.2%	10	326
45	1	53.2%	310.03	292.00	307.75	560.00	24.60	37.65	29.75	40.4%	1	89
52	4	58.7%	386.95	301.50	318.20	580.00	29.45	37.00	34.60	37.5%	20	89
191	2	51.5%	288.39	264.00	279.45	600.00	34.60	48.20	41.57	39.6%	13	904
103	1	49.9%	269.08	250.00	263.65	620.00	45.00	47.75	45.15	36.7%	3	182
231	1	49.9%	253.95	237.50	252.55	640.00	49.15	56.60	53.25	37.3%	10	605
150	2	49.4%	243.53	224.00	240.40	660.00	56.20	63.25	58.90	37.0%	1	277
392	2	48.5%	264.86	212.00	227.30	680.00	65.05	68.40	60.92	35.9%	2	96
756	7	47.8%	218.00	202.00	215.20	700.00	71.20	76.05	76.05	35.6%	3	538
287	1	47.5%	196.00	193.65	204.50	720.00	79.95	84.20	84.78	35.2%	5	440
503	2	46.5%	201.50	183.90	192.10	740.00	86.65	94.75	89.48	35.5%	2	328
163	2	46.8%	174.98	170.70	184.30	760.00	96.20	102.15	103.76	34.6%	2	81
984	7	45.7%	165.87	163.75	172.00	780.00	107.15	112.10	112.30	34.4%	2	137
121	1	45.9%	163.86	154.00	168.70	790.00	112.05	119.50	112.60	34.9%	1	77
238	2	45.6%	159.60	150.00	163.45	800.00	117.05	125.05	118.20	34.9%	18	427
CAT $800.47
115	1	46.4%	200.15	145.25	162.50	810.00	122.35	128.05	111.67	34.1%	1	20
28	5	45.4%	166.00	140.95	155.00	820.00	127.05	133.35	130.00	33.9%	1	33
23	1	46.7%	151.40	136.00	155.75	830.00	128.70	144.50	141.40	35.3%	1	70
19	2	46.1%	155.13	132.00	150.00	840.00	136.25	147.30	127.50	34.4%	1	209
201	3	44.7%	172.85	134.15	141.50	850.00	141.20	153.45	118.00	34.3%	2	35
59	1	44.6%	132.15	124.00	137.55	860.00	149.45	156.15	128.09	33.3%	2	63
25	2	44.5%	163.85	125.65	133.95	870.00	0.00	0.00	170.77	—	4	0
37	1	44.4%	123.75	122.50	129.95	880.00	161.20	170.90	137.76	33.7%	2	89
534	10	43.8%	146.15	113.85	124.75	890.00	162.50	182.00	185.50	34.9%	1	46
228	1	44.3%	119.00	115.05	123.45	900.00	171.10	186.60	151.45	34.3%	2	61
811	55	45.6%	111.50	103.25	121.95	920.00	186.00	194.10	175.00	32.5%	1	16
254	6	43.7%	114.40	102.50	109.05	940.00	194.35	212.70	197.15	33.7%	8	217
75	2	43.4%	133.84	94.10	102.60	960.00	213.00	225.35	224.85	33.1%	10	68
72	7	45.3%	94.00	88.15	104.00	980.00	0.00	0.00	236.33	—	29	0
196	1	43.6%	94.55	84.50	92.90	1,000.00	242.25	252.30	226.00	31.9%	1	34
59	6	43.8%	82.03	78.50	88.85	1,020.00	269.50	284.00	225.65	36.7%	2	12
122	2	43.7%	77.40	74.85	84.10	1,040.00	285.50	298.45	196.14	36.3%	2	4
208	2	44.5%	72.89	66.70	82.75	1,060.00	284.00	302.00	270.00	32.3%	1	3
74	2	43.5%	78.37	64.40	75.25	1,080.00	308.00	328.00	309.95	35.4%	29	24
118	16	43.5%	65.95	58.80	71.35	1,100.00	329.50	344.00	311.04	35.1%	1	2
13	1	43.0%	66.85	56.70	66.25	1,120.00	0.00	0.00	354.25	—	2	0
427	1	42.5%	75.70	53.80	61.20	1,140.00	362.00	376.00	339.44	34.4%	1	1
167	1	42.7%	62.59	51.30	58.50	1,160.00	0.00	0.00	363.60	—	13	0
665	15	42.5%	74.95	47.70	54.90	1,180.00	0.00	0.00	380.00	—	2	0
164	1	42.4%	68.40	43.05	51.75	1,200.00	0.00	0.00	395.95	—	10	0
76	1	43.0%	46.45	40.95	50.60	1,220.00	0.00	0.00	413.95	—	10	0
34	1	42.1%	47.46	38.50	45.40	1,240.00	—	—	—	—	—	—
47	8	42.6%	39.53	38.00	44.55	1,260.00	—	—	—	—	—	—
87	52	42.5%	56.15	32.60	41.80	1,280.00	480.20	494.00	363.90	30.9%	1	1
279	11	42.6%	35.90	32.25	39.95	1,300.00	—	—	—	—	—	—
416	2	42.1%	33.78	32.60	36.70	1,320.00	508.00	528.00	518.75	28.5%	8	8
55	2	41.9%	39.60	28.40	34.10	1,340.00	528.00	546.00	536.50	27.6%	8	8
712	2	42.3%	30.70	28.30	33.45	1,360.00	550.00	566.00	421.15	28.2%	11	11
39	4	42.6%	35.00	24.95	32.25	1,380.00	568.00	584.00	435.95	26.8%	15	15
0	1	6.3%	48.60	0.00	0.00	1,400.00	—	—	—	—	—	—
0	2	45.4%	26.26	16.00	35.95	1,420.00	—	—	—	—	—	—
20	12	44.8%	24.20	21.00	32.70	1,440.00	—	—	—	—	—	—
26	28	42.7%	29.70	21.25	26.50	1,460.00	—	—	—	—	—	—
24	2	42.9%	40.65	18.05	25.45	1,480.00	—	—	—	—	—	—
36	1	43.4%	26.80	14.85	25.30	1,500.00	—	—	—	—	—	—
25	2	42.9%	25.15	14.80	22.90	1,520.00	—	—	—	—	—	—
22	3	45.3%	20.05	11.25	26.70	1,540.00	—	—	—	—	—	—
89	85	43.2%	26.40	16.40	21.40	1,560.00	—	—	—	—	—	—
1,026	9	41.9%	16.80	13.60	17.85	1,580.00	—	—	—	—	—	—

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 CAT put/call ratio?

For the January 21, 2028 expiration, the CAT put/call ratio based on open interest is 0.74 (9,428 puts vs 12,793 calls), and 0.86 based on today's volume. A ratio above 1 means more puts than calls.

What is CAT's implied volatility?

At-the-money implied volatility for CAT options expiring January 21, 2028 is about 40.2%, an annualized estimate of how much the market expects Caterpillar stock to move.

How many CAT option expiration dates are there?

CAT has 17 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.