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: Jan 15, 2027
Days to expiration: 97
Share price: $235.23
Put/call ratio (OI): 0.40
Put/call ratio (volume): 2.92
ATM implied volatility: 24.2%
Expected move: ±$29.33
Open interest (C / P): 55.83K / 22.51K

MCD options summary

The MCD options chain for the January 15, 2027 expiration lists 41 call and 38 put contracts, with 97 days until expiration. Open interest stands at 55,833 calls and 22,509 puts, a put/call ratio of 0.40, which is tilted bullish, with calls outnumbering puts. At-the-money implied volatility near the $240.00 strike is 24.2%, which implies the market expects a move of about ±$29.33 (12.5%) in McDonald's stock by expiration.

The most open interest sits at the $300.00 call (18.95K contracts) and the $230.00 put (3.24K contracts).

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

MCD options chain · January 15, 2027

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
1	1	61.2%	97.97	94.70	98.20	140.00	0.00	0.21	0.03	45.6%	2	575
0	10	—	191.20	0.00	0.00	145.00	0.00	0.27	0.18	44.4%	8	161
2	1	56.3%	102.00	84.70	88.65	150.00	0.01	0.08	0.05	35.5%	2	250
1	1	53.4%	87.43	80.55	82.95	155.00	0.00	0.17	0.07	36.4%	100	117
0	1	—	113.26	0.00	0.00	160.00	0.01	0.20	0.11	34.7%	2	220
2	1	56.6%	81.15	70.75	73.40	165.00	0.05	0.20	0.12	32.3%	30	66
7	1	51.2%	63.30	65.70	68.05	170.00	0.01	0.23	0.18	30.5%	32	82
0	2	—	164.50	0.00	0.00	175.00	0.15	0.28	0.21	29.0%	10	60
3	2	45.8%	56.00	55.95	58.40	180.00	0.21	0.36	0.29	27.7%	15	79
0	1	—	87.26	0.00	0.00	185.00	0.33	0.49	0.50	26.8%	10	43
71	38	40.5%	47.70	46.30	48.80	190.00	0.50	0.73	0.57	26.4%	21	146
36	5	37.4%	44.33	41.65	43.90	195.00	0.76	1.03	0.89	25.7%	1	189
254	58	34.3%	38.00	36.55	39.00	200.00	1.15	1.33	1.22	24.6%	23	764
220	4	30.1%	29.85	28.50	29.95	210.00	2.45	2.67	2.58	23.9%	74	1,010
232	10	27.0%	21.49	20.95	21.75	220.00	4.70	4.95	4.82	23.2%	159	2,191
699	31	26.1%	15.14	14.55	15.35	230.00	8.25	8.50	8.37	22.7%	68	3,236
MCD $235.23
1,159	192	25.3%	10.08	9.80	10.20	240.00	13.45	13.85	13.47	23.0%	39	2,396
2,643	305	25.1%	6.30	6.20	6.55	250.00	19.30	20.35	20.75	22.9%	4	2,805
3,714	124	25.2%	3.95	3.85	4.10	260.00	26.85	28.15	27.90	23.3%	19	1,622
2,418	105	25.5%	2.45	2.34	2.55	270.00	35.35	36.75	36.35	23.6%	51	1,360
4,816	47	26.1%	1.50	1.42	1.63	280.00	44.40	46.10	44.85	24.8%	2	1,606
2,985	113	26.9%	1.02	0.92	1.06	290.00	54.00	56.20	58.59	28.9%	1	988
18,952	290	27.6%	0.67	0.64	0.69	300.00	63.30	65.45	63.33	27.6%	4	1,070
1,812	119	28.9%	0.50	0.48	0.52	310.00	73.35	75.60	73.70	31.6%	1	408
1,746	2	30.0%	0.39	0.29	0.38	320.00	83.35	85.60	83.30	34.4%	1,940	715
4,144	14	31.6%	0.25	0.20	0.32	330.00	93.20	95.10	93.05	31.8%	1,400	219
4,599	3	33.7%	0.22	0.16	0.31	340.00	103.30	105.50	103.00	38.8%	510	68
1,319	1	34.8%	0.17	0.11	0.25	350.00	42.80	44.85	46.49	—	1	62
551	10	35.3%	0.22	0.00	0.18	360.00	123.35	125.50	110.96	43.5%	1	0
363	2	37.0%	0.10	0.00	0.17	370.00	0.00	0.00	44.22	—	1	0
285	2	37.2%	0.13	0.03	0.12	380.00	122.30	125.00	105.50	—	20	0
908	2	40.6%	0.13	0.00	0.17	390.00	132.30	136.00	115.49	—	20	0
197	2	42.3%	0.06	0.00	0.17	400.00	0.00	0.00	75.00	—	10	0
23	2	52.3%	0.38	0.00	0.62	410.00	152.35	156.20	141.90	—	1	0
34	1	52.9%	0.02	0.00	0.53	420.00	153.20	156.55	143.40	—	1	0
64	6	51.3%	0.02	0.00	0.67	430.00	163.15	166.70	153.37	—	1	1
149	26	46.4%	0.04	0.00	0.11	440.00	0.00	0.00	105.80	—	2	0
0	14	25.0%	0.11	0.00	0.00	450.00	142.65	145.95	159.00	—	—	0
1,040	10	50.9%	0.04	0.00	0.15	460.00	—	—	—	—	—	—
0	12	25.0%	0.13	0.00	0.00	470.00	—	—	—	—	—	—
384	1	50.2%	0.04	0.01	0.08	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 January 15, 2027 expiration, the MCD put/call ratio based on open interest is 0.40 (22,509 puts vs 55,833 calls), and 2.92 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 January 15, 2027 is about 24.2%, 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.