Macy's (M) Options Chain

NYSE: MConsumer DiscretionaryDepartment/Specialty Retail StoresUSD

22.67-0.12 (-0.53%)

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

Expiration date

Expiration: Dec 18, 2026
Days to expiration: 68
Share price: $22.67
Put/call ratio (OI): 1.01
Put/call ratio (volume): 0.34
ATM implied volatility: 49.5%
Expected move: ±$4.84
Open interest (C / P): 7.15K / 7.21K

M options summary

The M options chain for the December 18, 2026 expiration lists 25 call and 20 put contracts, with 68 days until expiration. Open interest stands at 7,147 calls and 7,210 puts, a put/call ratio of 1.01, which is fairly balanced between calls and puts. At-the-money implied volatility near the $23.00 strike is 49.5%, which implies the market expects a move of about ±$4.84 (21.4%) in Macy's stock by expiration.

The most open interest sits at the $22.00 call (1.49K contracts) and the $10.00 put (1.21K contracts).

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

M options chain · December 18, 2026

M 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	100	347.7%	19.58	18.45	21.75	3.00	—	—	—	—	—	—
0	1	260.2%	17.87	16.50	19.75	5.00	0.00	0.00	0.02	50.0%	2	0
0	1	132.4%	14.48	13.50	16.05	8.00	0.00	0.00	0.23	50.0%	10	0
5	2	110.7%	11.90	11.55	14.05	10.00	0.00	0.23	0.03	108.2%	4	1,207
1	1	95.1%	10.90	9.60	12.10	12.00	0.00	0.06	0.05	68.8%	35	723
230	91	92.5%	7.90	6.65	9.85	15.00	0.05	1.24	0.08	96.0%	2	266
68	2	57.6%	5.20	4.75	7.20	17.00	0.10	0.38	0.10	53.7%	10	1,173
55	7	56.1%	4.68	3.85	6.40	18.00	0.18	0.31	0.30	49.3%	3	94
1	—	79.3%	5.14	4.75	5.35	19.00	0.01	0.85	0.48	61.7%	3	171
367	12	72.1%	3.54	2.27	4.20	20.00	0.50	1.74	0.63	59.8%	10	592
54	16	57.3%	2.81	1.59	3.10	21.00	0.50	1.20	1.08	50.8%	2	606
1,485	17	51.1%	2.20	1.32	2.33	22.00	1.16	1.58	1.53	49.0%	5	730
M $22.67
1,099	1	48.8%	1.30	1.42	1.77	23.00	0.71	2.15	1.90	50.1%	40	240
314	259	47.9%	1.37	0.10	1.34	24.00	1.27	2.74	2.46	49.7%	25	401
899	10	49.4%	1.05	0.05	1.08	25.00	2.99	4.20	3.15	54.4%	10	562
789	2	49.3%	0.70	0.01	0.82	26.00	2.68	5.05	5.58	74.0%	4	151
334	20	49.4%	0.57	0.03	0.62	27.00	3.45	4.95	5.25	49.4%	1	231
495	2	49.6%	0.38	0.01	0.47	28.00	5.55	6.55	5.20	58.3%	3	9
355	3	53.8%	0.35	0.01	0.45	29.00	6.30	6.80	5.45	54.6%	—	5
210	10	52.3%	0.23	0.01	0.31	30.00	6.45	8.25	5.40	75.2%	22	49
21	2	55.7%	0.13	0.01	0.58	31.00	—	—	—	—	—	—
77	1	53.5%	0.13	0.00	0.19	32.00	—	—	—	—	—	—
134	5	56.3%	0.11	0.00	0.36	33.00	—	—	—	—	—	—
6	4	50.8%	0.08	0.02	0.14	34.00	—	—	—	—	—	—
148	5	58.2%	0.08	0.00	0.25	35.00	14.70	16.75	17.30	168.5%	4	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 M put/call ratio?

For the December 18, 2026 expiration, the M put/call ratio based on open interest is 1.01 (7,210 puts vs 7,147 calls), and 0.34 based on today's volume. A ratio above 1 means more puts than calls.

What is M's implied volatility?

At-the-money implied volatility for M options expiring December 18, 2026 is about 49.5%, an annualized estimate of how much the market expects Macy's stock to move.

How many M option expiration dates are there?

M has 15 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.