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: Mar 19, 2027
Days to expiration: 159
Share price: $523.39
Put/call ratio (OI): 0.83
Put/call ratio (volume): 3.03
ATM implied volatility: 36.4%
Expected move: ±$125.60
Open interest (C / P): 1.91K / 1.58K

CMI options summary

The CMI options chain for the March 19, 2027 expiration lists 69 call and 59 put contracts, with 159 days until expiration. Open interest stands at 1,911 calls and 1,580 puts, a put/call ratio of 0.83, which is fairly balanced between calls and puts. At-the-money implied volatility near the $520.00 strike is 36.4%, which implies the market expects a move of about ±$125.60 (24.0%) in Cummins stock by expiration.

The most open interest sits at the $620.00 call (214 contracts) and the $700.00 put (262 contracts).

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

CMI options chain · March 19, 2027

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
6	1	58.0%	256.51	253.60	258.10	270.00	0.00	2.35	0.95	50.9%	2	9
0	1	—	330.18	0.00	0.00	280.00	0.00	2.45	2.80	55.2%	1	2
5	1	54.6%	271.30	234.50	238.30	290.00	0.00	3.20	2.65	55.4%	—	2
4	2	52.5%	277.00	224.50	228.60	300.00	0.00	2.80	1.70	51.2%	1	48
0	5	—	292.00	0.00	0.00	310.00	2.00	6.00	3.48	52.5%	2	1
6	1	55.0%	210.96	205.50	209.40	320.00	0.05	4.00	3.13	49.8%	10	12
4	2	53.3%	213.10	196.00	199.90	330.00	0.15	4.50	3.26	48.6%	11	12
16	4	51.5%	202.60	186.60	190.40	340.00	0.55	4.80	4.40	46.7%	5	8
85	1	51.2%	184.58	177.50	181.70	350.00	0.50	4.80	3.30	44.2%	2	13
5	1	49.3%	164.00	168.00	172.20	360.00	1.00	5.40	3.80	43.0%	1	24
2	1	47.7%	151.00	158.90	162.90	370.00	1.80	6.30	5.20	42.2%	10	13
0	1	—	254.10	0.00	0.00	380.00	2.95	7.30	6.59	41.5%	5	35
7	1	45.7%	142.70	141.60	145.30	390.00	4.00	8.30	7.55	40.5%	10	67
20	1	44.7%	134.40	133.30	136.70	400.00	5.20	9.50	8.10	39.6%	2	41
3	1	43.9%	139.92	125.20	128.40	410.00	7.40	11.00	10.00	39.0%	7	22
34	2	43.2%	112.60	117.00	120.30	420.00	9.00	12.70	10.90	38.4%	1	39
0	22	—	204.10	0.00	0.00	430.00	11.70	14.90	12.80	38.2%	1	22
19	1	42.0%	98.10	101.50	104.90	440.00	13.60	16.50	12.90	37.0%	1	73
7	6	41.5%	119.05	93.80	97.70	450.00	15.30	19.50	17.00	37.1%	5	49
14	1	70.0%	198.20	123.80	126.60	460.00	18.20	22.50	16.20	36.8%	1	212
3	1	40.6%	75.40	80.70	84.00	470.00	21.30	25.50	26.00	36.3%	1	21
2	1	40.1%	94.50	73.80	77.50	480.00	24.90	28.80	30.40	35.9%	1	33
4	6	39.8%	74.03	67.90	71.40	490.00	28.70	32.30	31.80	35.3%	12	23
51	7	39.3%	69.50	61.70	65.50	500.00	32.60	36.80	35.83	35.3%	1	35
10	3	39.1%	57.00	56.40	60.20	510.00	37.10	41.00	36.50	34.8%	2	22
19	4	38.5%	50.60	52.00	54.60	520.00	42.00	45.40	48.50	34.2%	1	22
CMI $523.39
14	1	37.9%	57.30	46.10	49.40	530.00	46.70	50.70	49.47	34.1%	1	35
9	1	37.6%	37.80	41.90	44.80	540.00	52.30	55.60	53.05	33.4%	1	37
20	1	37.4%	38.30	37.60	40.60	550.00	58.00	61.40	64.75	33.2%	3	20
20	2	37.1%	41.15	33.80	36.70	560.00	64.20	67.70	71.37	33.0%	3	39
30	1	36.9%	35.60	29.70	33.10	570.00	70.10	74.20	71.64	32.8%	3	8
13	2	36.7%	28.23	27.00	29.70	580.00	76.80	80.50	78.08	32.3%	3	22
15	2	36.5%	24.90	23.80	26.70	590.00	84.40	87.60	72.20	32.1%	3	15
21	1	36.8%	24.25	20.30	24.40	600.00	91.00	95.10	96.00	32.0%	1	29
8	1	36.6%	23.21	17.90	21.90	610.00	0.00	0.00	51.10	—	6	0
214	9	36.5%	16.50	15.40	19.60	620.00	0.00	0.00	77.20	—	1	0
38	1	36.6%	17.73	13.40	17.70	630.00	114.60	118.30	118.61	31.0%	1	131
43	1	36.5%	15.00	11.50	15.80	640.00	122.90	127.00	131.76	31.2%	4	11
86	1	36.2%	11.85	10.10	13.90	650.00	131.40	135.40	144.50	30.9%	6	57
42	8	36.4%	13.34	8.40	12.60	660.00	140.10	144.20	139.81	30.8%	1	10
27	1	36.4%	11.00	7.10	11.30	670.00	123.00	126.60	98.70	—	1	19
85	1	36.4%	9.90	6.00	10.10	680.00	0.00	0.00	114.92	—	320	0
25	1	36.4%	8.26	5.00	9.00	690.00	139.50	141.60	105.60	—	2	9
187	1	36.9%	6.60	4.10	8.40	700.00	176.60	180.50	177.10	30.2%	2	262
19	6	36.9%	5.60	3.20	7.50	710.00	148.50	151.90	106.00	—	1	1
57	2	37.0%	5.20	2.55	6.80	720.00	195.50	199.50	204.50	30.3%	1	4
10	4	37.2%	5.70	1.90	6.20	730.00	205.20	209.20	182.10	30.6%	—	2
140	3	37.3%	3.80	1.45	5.60	740.00	126.50	129.50	130.80	—	1	3
13	2	37.7%	3.32	0.95	5.20	750.00	224.90	228.90	217.40	31.7%	—	0
21	2	38.0%	8.95	0.50	4.80	760.00	0.00	0.00	150.80	—	2	0
13	4	38.2%	3.50	0.25	4.40	770.00	—	—	—	—	—	—
43	1	38.5%	2.70	0.05	4.10	780.00	254.70	258.80	229.80	34.1%	—	3
1	—	39.0%	2.30	0.25	3.90	790.00	—	—	—	—	—	—
139	1	39.5%	5.53	0.05	3.70	800.00	166.70	171.00	134.80	—	—	3
0	—	12.5%	14.00	0.00	0.00	810.00	—	—	—	—	—	—
27	1	40.3%	1.77	0.00	3.30	820.00	—	—	—	—	—	—
3	1	41.4%	2.70	0.00	3.10	840.00	—	—	—	—	—	—
23	2	42.4%	1.50	0.00	2.90	860.00	—	—	—	—	—	—
62	1	43.5%	2.55	0.00	2.75	880.00	—	—	—	—	—	—
8	1	44.7%	1.25	0.00	2.65	900.00	337.00	341.30	248.40	—	—	0
13	1	51.8%	27.30	1.00	4.90	920.00	394.60	398.70	343.60	44.4%	—	0
0	—	12.5%	18.80	0.00	0.00	940.00	—	—	—	—	—	—
53	1	48.1%	1.66	0.00	2.45	960.00	434.60	438.70	384.50	47.0%	1	0
24	1	49.2%	1.50	0.00	2.40	980.00	0.00	0.00	344.10	—	—	0
12	1	54.9%	12.00	0.00	3.90	1,000.00	0.00	0.00	375.30	—	—	0
0	1	25.0%	4.70	0.00	0.00	1,020.00	—	—	—	—	—	—
4	1	53.9%	6.10	0.00	2.70	1,040.00	—	—	—	—	—	—
0	1	25.0%	12.70	0.00	0.00	1,060.00	486.40	490.50	375.60	—	1	0
3	2	54.8%	0.35	0.00	2.30	1,080.00	554.70	558.70	544.00	54.1%	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 CMI put/call ratio?

For the March 19, 2027 expiration, the CMI put/call ratio based on open interest is 0.83 (1,580 puts vs 1,911 calls), and 3.03 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 March 19, 2027 is about 36.4%, 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.