Canadian National Railway (CNI) Options Chain

NYSE: CNIIndustrialsRailroadsUSD

117.78+0.94 (+0.80%)

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

Expiration date

Expiration: Jan 15, 2027
Days to expiration: 96
Share price: $117.78
Put/call ratio (OI): 0.20
Put/call ratio (volume): 1.07
ATM implied volatility: 23.3%
Expected move: ±$14.04
Open interest (C / P): 2.25K / 450

CNI options summary

The CNI options chain for the January 15, 2027 expiration lists 14 call and 12 put contracts, with 96 days until expiration. Open interest stands at 2,250 calls and 450 puts, a put/call ratio of 0.20, which is tilted bullish, with calls outnumbering puts. At-the-money implied volatility near the $120.00 strike is 23.3%, which implies the market expects a move of about ±$14.04 (11.9%) in Canadian National Railway stock by expiration.

The most open interest sits at the $110.00 call (662 contracts) and the $125.00 put (187 contracts).

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

CNI options chain · January 15, 2027

CNI 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
—	—	—	—	—	—	75.00	0.00	0.75	0.10	57.2%	21	21
—	—	—	—	—	—	85.00	0.00	1.15	0.30	48.8%	2	3
—	—	—	—	—	—	90.00	0.00	0.75	0.17	37.6%	1	3
3	2	70.5%	34.86	28.00	30.60	95.00	0.00	0.75	0.35	31.6%	2	7
56	50	32.8%	21.00	16.90	19.40	100.00	0.15	2.50	0.65	38.7%	1	9
—	—	—	—	—	—	105.00	0.75	1.60	1.15	25.9%	2	33
662	2	28.6%	10.90	9.10	11.30	110.00	1.50	2.45	2.00	23.4%	7	56
12	1	28.5%	9.50	6.30	8.30	115.00	3.20	4.00	4.00	22.1%	1	30
CNI $117.78
161	1	25.1%	3.95	3.00	5.10	120.00	5.50	6.40	5.40	21.4%	5	14
177	7	22.6%	2.50	1.85	2.75	125.00	7.00	10.50	7.00	25.0%	69	187
125	27	25.9%	1.40	0.40	2.20	130.00	11.70	15.30	9.80	30.3%	33	84
236	9	23.9%	1.65	0.30	1.05	135.00	10.10	11.80	12.20	—	—	3
169	1	25.6%	1.90	0.05	0.75	140.00	—	—	—	—	—	—
548	3	29.2%	0.40	0.00	0.75	145.00	—	—	—	—	—	—
92	2	28.4%	1.10	0.00	0.40	150.00	—	—	—	—	—	—
—	—	—	0.10	—	—	155.00	—	—	—	—	—	—
0	7	12.5%	0.47	0.00	0.00	160.00	—	—	—	—	—	—
9	22	46.0%	0.22	0.00	1.15	165.00	—	—	—	—	—	—

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 CNI put/call ratio?

For the January 15, 2027 expiration, the CNI put/call ratio based on open interest is 0.20 (450 puts vs 2,250 calls), and 1.07 based on today's volume. A ratio above 1 means more puts than calls.

What is CNI's implied volatility?

At-the-money implied volatility for CNI options expiring January 15, 2027 is about 23.3%, an annualized estimate of how much the market expects Canadian National Railway stock to move.

How many CNI option expiration dates are there?

CNI has 7 listed expiration dates, from Oct 16, 2026 to Apr 16, 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.