Kinder Morgan (KMI) Options Chain

NYSE: KMIUtilitiesNatural Gas DistributionUSD

32.49+0.24 (+0.74%)

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

Expiration date

Expiration: Dec 18, 2026
Days to expiration: 68
Share price: $32.49
Put/call ratio (OI): 0.36
Put/call ratio (volume): 0.18
ATM implied volatility: 25.1%
Expected move: ±$3.52
Open interest (C / P): 33.74K / 12.09K

KMI options summary

The KMI options chain for the December 18, 2026 expiration lists 23 call and 18 put contracts, with 68 days until expiration. Open interest stands at 33,745 calls and 12,093 puts, a put/call ratio of 0.36, which is tilted bullish, with calls outnumbering puts. At-the-money implied volatility near the $32.00 strike is 25.1%, which implies the market expects a move of about ±$3.52 (10.8%) in Kinder Morgan stock by expiration.

The most open interest sits at the $35.00 call (9.05K contracts) and the $31.00 put (2.45K contracts).

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

KMI options chain · December 18, 2026

KMI 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
0	1	—	19.70	17.70	19.05	13.00	0.00	0.20	0.03	109.8%	2	2
0	1	—	13.99	12.85	14.00	18.00	0.00	0.14	0.05	69.5%	1	71
21	1	60.5%	11.41	11.90	13.25	20.00	0.00	0.06	0.01	51.6%	2	85
0	1	—	8.98	0.00	0.00	23.00	0.00	0.29	0.06	50.3%	26	1,389
10	16	—	7.52	7.20	7.85	24.00	0.00	0.10	0.07	41.8%	1	80
161	4	50.7%	7.60	7.40	7.85	25.00	0.01	0.12	0.08	38.5%	1	1,658
6	1	46.9%	4.94	5.95	6.90	26.00	0.04	0.15	0.12	35.5%	6	178
297	10	35.6%	4.03	5.15	5.75	27.00	0.10	0.20	0.15	33.1%	2	1,385
614	12	32.1%	4.55	4.25	4.80	28.00	0.19	0.22	0.21	28.9%	5	1,129
149	7	31.0%	3.78	3.65	3.95	29.00	0.27	0.34	0.33	27.6%	14	709
1,554	1	28.6%	2.85	2.74	3.10	30.00	0.43	0.51	0.46	26.3%	34	2,045
1,273	10	27.1%	2.20	2.03	2.35	31.00	0.73	0.79	0.72	25.7%	6	2,452
1,222	108	24.7%	1.50	1.42	1.64	32.00	1.13	1.19	1.14	25.4%	26	337
KMI $32.49
2,662	349	23.9%	1.08	1.06	1.12	33.00	1.57	1.71	1.62	25.4%	7	119
2,261	59	24.1%	0.73	0.67	0.76	34.00	1.99	2.51	2.26	28.6%	4	331
9,053	157	23.7%	0.45	0.44	0.48	35.00	4.20	4.80	3.55	52.8%	1	73
5,659	2	24.9%	0.28	0.26	0.34	36.00	4.75	5.30	4.97	54.9%	1	50
781	3	24.9%	0.18	0.17	0.21	37.00	—	—	—	—	—	—
5,826	1	26.0%	0.05	0.08	0.15	38.00	—	—	—	—	—	—
1,267	2	27.6%	0.07	0.02	0.12	39.00	—	—	—	—	—	—
807	2	30.5%	0.07	0.00	0.12	40.00	0.00	0.00	6.79	—	—	0
122	20	32.0%	0.06	0.00	0.10	41.00	—	—	—	—	—	—
0	1	12.5%	0.04	0.00	0.00	45.00	—	—	—	—	—	—

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 KMI put/call ratio?

For the December 18, 2026 expiration, the KMI put/call ratio based on open interest is 0.36 (12,093 puts vs 33,745 calls), and 0.18 based on today's volume. A ratio above 1 means more puts than calls.

What is KMI's implied volatility?

At-the-money implied volatility for KMI options expiring December 18, 2026 is about 25.1%, an annualized estimate of how much the market expects Kinder Morgan stock to move.

How many KMI option expiration dates are there?

KMI has 13 listed expiration dates, from Oct 16, 2026 to Jan 19, 2029.

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.