Hess Midstream (HESM) Options Chain

NYSE: HESMEnergyOil & Gas ProductionUSD

32.26-1.74 (-5.12%)

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

Expiration date

Expiration: Nov 20, 2026
Days to expiration: 40
Share price: $32.26
Put/call ratio (OI): 1.57
Put/call ratio (volume): 1.90
ATM implied volatility: 44.3%
Expected move: ±$4.73
Open interest (C / P): 3.21K / 5.05K

HESM options summary

The HESM options chain for the November 20, 2026 expiration lists 18 call and 16 put contracts, with 40 days until expiration. Open interest stands at 3,215 calls and 5,050 puts, a put/call ratio of 1.57, which is more bearish, with puts outnumbering calls. At-the-money implied volatility near the $32.00 strike is 44.3%, which implies the market expects a move of about ±$4.73 (14.7%) in Hess Midstream stock by expiration.

The most open interest sits at the $43.00 call (698 contracts) and the $36.00 put (2.97K contracts).

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

HESM options chain · November 20, 2026

HESM 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
26	4	50.6%	3.00	2.40	3.40	30.00	0.40	0.75	0.55	39.9%	5	280
—	—	—	—	—	—	31.00	0.80	1.25	0.96	43.4%	79	305
—	—	—	—	—	—	32.00	1.35	1.75	1.45	44.3%	62	212
HESM $32.26
323	9	31.1%	0.71	0.65	1.00	33.00	1.90	2.50	1.98	49.0%	18	126
48	2	32.0%	0.45	0.20	0.70	34.00	2.55	3.10	2.76	48.4%	25	83
32	16	30.4%	0.35	0.05	0.40	35.00	2.45	3.90	2.60	51.3%	10	453
94	19	30.8%	0.20	0.00	0.25	36.00	3.50	4.80	4.45	55.5%	23	2,974
19	13	33.5%	0.14	0.10	0.20	37.00	5.30	5.80	4.84	54.7%	4	146
169	2	38.0%	0.20	0.00	0.20	38.00	5.90	6.70	6.20	52.4%	1	151
113	32	35.9%	0.05	0.00	0.10	39.00	6.20	7.80	7.09	73.2%	2	208
520	1	51.4%	0.07	0.00	0.30	40.00	7.60	8.70	7.20	56.3%	3	77
499	1	38.1%	0.05	0.00	0.05	41.00	7.70	9.80	2.00	83.3%	1	11
220	2	55.3%	0.06	0.00	0.45	42.00	8.70	11.50	2.81	62.3%	2	10
698	2	58.9%	0.14	0.00	0.45	43.00	4.50	6.90	6.85	—	10	14
89	8	62.3%	0.03	0.00	0.45	44.00	—	—	—	—	—	—
67	3	65.6%	0.07	0.00	0.45	45.00	0.00	0.00	8.80	—	—	0
225	3	68.8%	0.29	0.00	0.45	46.00	—	—	—	—	—	—
69	13	72.0%	0.15	0.00	0.45	47.00	—	—	—	—	—	—
3	—	78.3%	0.11	0.00	0.55	48.00	—	—	—	—	—	—
1	—	78.8%	0.05	0.00	0.40	50.00	0.00	0.00	12.05	—	2	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 HESM put/call ratio?

For the November 20, 2026 expiration, the HESM put/call ratio based on open interest is 1.57 (5,050 puts vs 3,215 calls), and 1.90 based on today's volume. A ratio above 1 means more puts than calls.

What is HESM's implied volatility?

At-the-money implied volatility for HESM options expiring November 20, 2026 is about 44.3%, an annualized estimate of how much the market expects Hess Midstream stock to move.

How many HESM option expiration dates are there?

HESM has 5 listed expiration dates, from Oct 16, 2026 to May 21, 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.