Cummins (CMI) Options Chain

NYSE: CMIIndustrialsIndustrial Machinery/ComponentsUSD

523.39+2.99 (+0.57%)

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

Expiration date

Expiration: Nov 20, 2026
Days to expiration: 40
Share price: $523.39
Put/call ratio (OI): 2.56
Put/call ratio (volume): 0.25
ATM implied volatility: 40.8%
Expected move: ±$70.64
Open interest (C / P): 577 / 1.48K

CMI options summary

The CMI options chain for the November 20, 2026 expiration lists 21 call and 21 put contracts, with 40 days until expiration. Open interest stands at 577 calls and 1,475 puts, a put/call ratio of 2.56, which is more bearish, with puts outnumbering calls. At-the-money implied volatility near the $520.00 strike is 40.8%, which implies the market expects a move of about ±$70.64 (13.5%) in Cummins stock by expiration.

The most open interest sits at the $560.00 call (85 contracts) and the $510.00 put (535 contracts).

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

CMI options chain · November 20, 2026

CMI 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
3	2	53.8%	126.00	124.50	127.20	400.00	0.30	1.10	0.80	45.6%	10	6
—	—	—	—	—	—	410.00	0.75	1.50	1.23	44.7%	7	11
—	—	—	—	—	—	420.00	0.05	3.60	2.25	50.5%	9	10
—	—	—	—	—	—	430.00	1.20	2.70	2.60	43.0%	1	11
—	—	—	—	—	—	440.00	1.00	4.90	4.17	46.3%	3	13
—	—	—	—	—	—	450.00	2.65	6.20	3.80	45.3%	2	32
—	—	—	—	—	—	460.00	4.20	7.20	6.22	43.1%	1	6
—	—	—	—	—	—	470.00	6.10	9.20	7.83	42.6%	1	12
—	—	—	—	—	—	480.00	8.50	11.50	11.39	41.8%	10	61
—	—	—	—	—	—	490.00	12.10	13.80	14.00	40.4%	1	134
50	—	42.8%	47.97	39.60	42.40	500.00	14.50	17.90	20.00	41.0%	1	60
—	—	—	—	—	—	510.00	18.90	21.80	20.30	40.5%	1	535
12	1	41.9%	28.79	28.10	30.90	520.00	23.40	26.00	29.20	39.7%	1	28
CMI $523.39
19	1	41.6%	24.50	23.10	26.10	530.00	28.00	31.10	29.60	39.3%	1	532
31	2	41.8%	24.35	18.80	22.10	540.00	34.10	36.90	41.71	39.1%	1	15
16	4	41.5%	17.40	15.00	18.30	550.00	40.20	43.00	41.50	38.6%	1	3
85	8	40.9%	13.40	12.20	14.80	560.00	—	—	42.71	—	—	—
15	4	40.6%	10.40	9.00	12.00	570.00	—	—	—	—	—	—
42	1	41.1%	7.65	6.50	10.00	580.00	61.70	65.50	65.81	39.0%	1	1
30	123	40.1%	6.23	5.30	7.60	590.00	70.50	73.60	74.72	38.9%	1	1
53	1	41.7%	4.40	3.20	6.80	600.00	—	—	—	—	—	—
12	1	42.3%	3.46	1.95	5.70	610.00	—	—	—	—	—	—
69	1	40.7%	2.60	1.55	4.00	620.00	—	—	—	—	—	—
17	3	38.5%	2.10	1.50	2.50	630.00	106.50	109.10	108.55	38.5%	3	4
15	10	38.9%	1.95	0.10	2.00	640.00	—	—	—	—	—	—
11	1	45.8%	2.00	0.05	3.20	650.00	—	—	—	—	—	—
39	30	47.4%	1.20	0.00	3.00	660.00	134.90	139.00	148.70	45.1%	1	0
48	30	49.7%	1.00	0.00	3.00	670.00	—	—	—	—	—	—
3	7	43.8%	0.50	0.00	1.30	680.00	—	—	—	—	—	—
5	—	52.6%	1.31	0.00	2.65	690.00	—	—	—	—	—	—
2	1	54.0%	1.43	0.00	2.50	700.00	—	—	—	—	—	—

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 CMI put/call ratio?

For the November 20, 2026 expiration, the CMI put/call ratio based on open interest is 2.56 (1,475 puts vs 577 calls), and 0.25 based on today's volume. A ratio above 1 means more puts than calls.

What is CMI's implied volatility?

At-the-money implied volatility for CMI options expiring November 20, 2026 is about 40.8%, an annualized estimate of how much the market expects Cummins stock to move.

How many CMI option expiration dates are there?

CMI has 6 listed expiration dates, from Oct 16, 2026 to Sep 17, 2027.

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.