CMS Energy (CMS) Options Chain

NYSE: CMSUtilitiesPower GenerationUSD

65.49+0.15 (+0.23%)

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

Expiration date

Expiration: Mar 19, 2027
Days to expiration: 160
Share price: $65.49
Put/call ratio (OI): 0.16
Put/call ratio (volume): 0.53
ATM implied volatility: 21.7%
Expected move: ±$9.40
Open interest (C / P): 528 / 83

CMS options summary

The CMS options chain for the March 19, 2027 expiration lists 12 call and 8 put contracts, with 160 days until expiration. Open interest stands at 528 calls and 83 puts, a put/call ratio of 0.16, which is tilted bullish, with calls outnumbering puts. At-the-money implied volatility near the $65.00 strike is 21.7%, which implies the market expects a move of about ±$9.40 (14.4%) in CMS Energy stock by expiration.

The most open interest sits at the $70.00 call (268 contracts) and the $55.00 put (38 contracts).

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

CMS options chain · March 19, 2027

CMS 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
10	—	69.7%	25.00	23.50	27.20	40.00	—	—	—	—	—	—
3	1	42.0%	17.89	14.60	16.90	50.00	—	—	—	—	—	—
3	1	35.7%	9.34	10.10	12.40	55.00	0.45	1.20	1.05	29.5%	1	38
5	2	26.6%	6.95	6.20	7.70	60.00	1.25	1.90	1.62	24.5%	1	23
165	1	21.1%	3.80	3.60	3.90	65.00	3.00	3.60	3.40	22.2%	2	8
CMS $65.49
268	12	21.4%	1.45	0.55	2.00	70.00	3.80	5.10	3.53	11.9%	—	4
21	2	21.4%	0.58	0.50	0.90	75.00	9.90	11.00	10.91	26.0%	6	5
44	8	23.1%	0.55	0.05	0.50	80.00	14.00	16.90	11.98	39.3%	—	2
3	2	31.0%	0.50	0.00	0.75	85.00	—	—	20.62	—	—	—
0	—	12.5%	0.18	0.00	0.00	90.00	—	—	—	—	—	—
4	1	39.8%	0.05	0.00	0.75	95.00	—	—	—	—	—	—
—	—	—	—	—	—	100.00	32.80	36.90	35.50	60.3%	6	3
2	—	49.9%	0.23	0.00	0.70	110.00	—	—	—	—	—	—

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 CMS put/call ratio?

For the March 19, 2027 expiration, the CMS put/call ratio based on open interest is 0.16 (83 puts vs 528 calls), and 0.53 based on today's volume. A ratio above 1 means more puts than calls.

What is CMS's implied volatility?

At-the-money implied volatility for CMS options expiring March 19, 2027 is about 21.7%, an annualized estimate of how much the market expects CMS Energy stock to move.

How many CMS option expiration dates are there?

CMS has 4 listed expiration dates, from Oct 16, 2026 to Mar 19, 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.