McDonald's (MCD) Options Chain

NYSE: MCDConsumer DiscretionaryRestaurantsUSD

235.23-1.67 (-0.70%)

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

Expiration date

Expiration: Dec 18, 2026
Days to expiration: 69
Share price: $235.23
Put/call ratio (OI): 0.62
Put/call ratio (volume): 1.91
ATM implied volatility: 24.6%
Expected move: ±$25.16
Open interest (C / P): 30.39K / 18.89K

MCD options summary

The MCD options chain for the December 18, 2026 expiration lists 61 call and 52 put contracts, with 69 days until expiration. Open interest stands at 30,385 calls and 18,891 puts, a put/call ratio of 0.62, which is tilted bullish, with calls outnumbering puts. At-the-money implied volatility near the $235.00 strike is 24.6%, which implies the market expects a move of about ±$25.16 (10.7%) in McDonald's stock by expiration.

The most open interest sits at the $300.00 call (4.08K contracts) and the $220.00 put (1.83K contracts).

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

MCD options chain · December 18, 2026

MCD 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
5	4	76.8%	102.88	99.45	103.45	135.00	0.00	0.35	0.08	56.0%	5	176
6	3	247.9%	135.69	130.65	134.75	140.00	0.00	0.00	0.03	25.0%	5	0
0	—	341.9%	150.15	151.00	155.50	145.00	0.00	0.97	0.11	57.5%	8	130
2	1	65.3%	91.00	84.55	88.55	150.00	0.00	0.67	0.19	50.9%	2	152
1	—	243.5%	130.65	123.35	126.05	155.00	0.00	0.68	0.22	53.7%	2	55
1	1	57.9%	72.70	74.60	78.60	160.00	0.00	0.70	0.09	50.5%	10	158
0	1	200.0%	116.00	106.00	109.90	165.00	0.00	0.15	0.07	36.6%	1	54
5	2	52.4%	79.00	65.75	67.95	170.00	0.00	0.19	0.05	35.1%	3	16
2	1	50.4%	82.03	60.75	63.45	175.00	0.00	0.19	0.11	32.3%	25	122
14	5	54.8%	56.09	55.75	58.50	180.00	0.00	0.24	0.18	30.7%	84	167
13	4	49.6%	50.50	50.90	53.30	185.00	0.01	0.23	0.20	27.8%	239	418
23	2	47.3%	45.48	45.95	48.65	190.00	0.04	0.32	0.35	26.6%	10	228
28	1	42.1%	42.00	41.15	43.40	195.00	0.23	0.52	0.45	26.1%	24	190
58	8	38.9%	39.65	36.65	38.60	200.00	0.60	0.83	0.68	25.8%	3	953
8	1	35.7%	29.65	31.30	33.80	205.00	1.01	1.23	1.12	25.2%	2	416
32	2	31.8%	25.08	27.50	28.85	210.00	1.63	1.75	1.61	24.4%	17	314
32	6	30.9%	21.95	23.30	24.85	215.00	2.27	2.61	2.45	24.1%	34	353
152	1	29.3%	20.67	19.30	20.80	220.00	3.35	3.80	3.40	24.0%	65	1,831
65	16	26.7%	16.85	15.65	16.60	225.00	4.75	5.35	5.10	23.9%	94	1,808
255	11	26.5%	13.45	12.55	13.60	230.00	6.60	7.25	7.00	23.7%	47	1,150
968	70	25.8%	10.53	10.00	10.70	235.00	8.85	9.50	9.10	23.4%	15	1,326
MCD $235.23
1,357	190	24.6%	7.82	7.65	8.00	240.00	11.50	12.40	11.73	23.7%	29	1,689
1,193	55	25.1%	6.00	5.80	6.35	245.00	14.85	15.65	15.00	23.9%	20	799
2,347	378	24.6%	4.50	4.35	4.65	250.00	18.10	19.25	19.10	24.1%	7	1,809
1,127	49	24.7%	3.31	3.05	3.50	255.00	21.75	23.25	23.37	24.7%	7	573
1,491	168	24.9%	2.45	2.33	2.62	260.00	25.85	28.20	27.57	27.7%	3	824
2,705	17	25.3%	1.83	1.65	2.00	265.00	30.20	32.65	30.66	28.7%	3	522
1,628	13	25.4%	1.39	1.28	1.45	270.00	34.70	36.45	35.57	26.5%	1	470
1,191	1	27.1%	1.01	0.90	1.33	275.00	39.25	41.10	38.77	27.1%	3	716
1,588	59	26.5%	0.81	0.74	0.87	280.00	43.85	45.90	48.12	28.2%	3	402
762	11	27.4%	0.62	0.39	0.72	285.00	48.95	50.55	54.88	27.9%	1	408
2,395	14	27.8%	0.50	0.43	0.55	290.00	53.50	55.40	53.23	28.6%	1	4
307	16	28.5%	0.38	0.35	0.45	295.00	58.55	60.70	60.95	32.9%	96	98
4,081	7	29.1%	0.31	0.30	0.37	300.00	63.45	65.65	65.40	34.3%	1	3
293	2	30.3%	0.30	0.12	0.34	305.00	68.35	70.55	55.94	35.2%	1	5
805	1	31.9%	0.22	0.15	0.34	310.00	73.20	75.60	73.30	37.4%	680	256
268	37	31.7%	0.18	0.14	0.24	315.00	78.30	80.45	78.25	37.6%	60	23
484	1	32.2%	0.16	0.08	0.20	320.00	83.30	85.15	83.40	35.6%	40	12
565	10	33.1%	0.16	0.10	0.18	325.00	88.30	90.20	88.25	37.7%	630	200
296	1	35.6%	0.12	0.05	0.23	330.00	93.30	95.15	93.20	38.5%	170	60
267	2	36.7%	0.11	0.03	0.22	335.00	0.00	0.00	59.29	—	2	0
677	14	37.7%	0.06	0.01	0.21	340.00	0.00	0.00	60.98	—	1	0
354	1	38.8%	0.06	0.00	0.20	345.00	81.95	84.50	59.65	—	2	0
604	2	36.7%	0.12	0.00	0.10	350.00	86.75	89.45	64.53	—	5	0
143	1	40.0%	0.21	0.00	0.16	355.00	117.50	121.25	103.40	57.0%	1	0
259	10	48.4%	0.07	0.00	0.51	360.00	123.20	126.40	101.40	59.6%	1	1
118	1	52.1%	0.13	0.00	0.69	365.00	128.20	131.40	106.42	61.1%	—	0
0	1	25.0%	0.44	0.00	0.00	370.00	—	—	—	—	—	—
102	6	54.5%	0.04	0.00	0.68	375.00	92.00	96.50	78.36	—	—	0
350	2	50.1%	0.05	0.00	0.67	380.00	100.70	104.40	69.00	—	1	0
—	—	—	—	—	—	385.00	112.50	115.80	107.85	—	4	0
0	7	25.0%	0.17	0.00	0.00	390.00	—	—	—	—	—	—
23	1	53.5%	0.20	0.00	0.67	395.00	—	—	—	—	—	—
37	3	54.4%	0.03	0.00	0.66	400.00	0.00	0.00	90.22	—	2	0
179	4	56.5%	0.15	0.00	0.66	410.00	—	—	—	—	—	—
0	1	25.0%	0.08	0.00	0.00	420.00	—	—	—	—	—	—
27	3	65.4%	1.17	0.00	1.15	430.00	—	—	—	—	—	—
58	18	68.0%	0.10	0.00	1.22	440.00	—	—	—	—	—	—
325	8	64.2%	0.07	0.00	0.65	450.00	—	—	—	—	—	—
0	27	25.0%	0.06	0.00	0.00	460.00	—	—	—	—	—	—
0	12	25.0%	0.09	0.00	0.00	470.00	187.00	191.50	173.07	—	—	0
309	1	60.5%	0.13	0.00	0.19	480.00	—	—	—	—	—	—

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 MCD put/call ratio?

For the December 18, 2026 expiration, the MCD put/call ratio based on open interest is 0.62 (18,891 puts vs 30,385 calls), and 1.91 based on today's volume. A ratio above 1 means more puts than calls.

What is MCD's implied volatility?

At-the-money implied volatility for MCD options expiring December 18, 2026 is about 24.6%, an annualized estimate of how much the market expects McDonald's stock to move.

How many MCD option expiration dates are there?

MCD has 14 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.