Plains All American Pipeline L.P. (PAA) Options Chain
NASDAQ: PAAEnergyNatural Gas DistributionUSD
At close: Oct 9, 4:00 PM ET · Delayed 15 min
Expiration date
- Expiration
- Oct 16, 2026
- Days to expiration
- 5
- Share price
- $24.34
- Put/call ratio (OI)
- 1.31
- Put/call ratio (volume)
- 0.41
- Expected move
- ±$1.07
- Open interest (C / P)
- 3.81K / 5.00K
PAA options summary
The PAA options chain for the October 16, 2026 expiration lists 14 call and 14 put contracts, with 5 days until expiration. Open interest stands at 3,810 calls and 4,995 puts, a put/call ratio of 1.31, which is more bearish, with puts outnumbering calls. At-the-money implied volatility near the $24.50 strike is 37.6%, which implies the market expects a move of about ±$1.07 (4.4%) in Plains All American Pipeline L.P. stock by expiration.
The most open interest sits at the $27.00 call (1.82K contracts) and the $25.00 put (2.94K contracts).
Summary generated from market data by MetaCap's automated system. Methodology
PAA options chain · October 16, 2026
| Calls | Puts | ||||||||||
|---|---|---|---|---|---|---|---|---|---|---|---|
| Last | Bid | Ask | Strike | Bid | Ask | Last | |||||
| 9.56 | 9.10 | 10.00 | 15.00 | — | — | — | |||||
| 10.10 | 7.80 | 9.10 | 16.00 | — | — | — | |||||
| — | — | — | 18.00 | 0.00 | 0.30 | 0.05 | |||||
| — | — | — | 19.00 | 0.00 | 0.30 | 0.05 | |||||
| 5.80 | 3.60 | 5.10 | 20.00 | — | — | — | |||||
| — | — | — | 21.00 | 0.00 | 0.30 | 0.05 | |||||
| 0.92 | 0.80 | 1.95 | 23.00 | 0.00 | 0.25 | 0.13 | |||||
| 0.70 | 0.60 | 1.35 | 23.50 | 0.00 | 0.20 | 0.15 | |||||
| 0.45 | 0.35 | 0.55 | 24.00 | 0.00 | 0.25 | 0.25 | |||||
| 0.20 | 0.05 | 0.30 | 24.50 | 0.05 | 0.65 | 0.30 | |||||
| 0.08 | 0.00 | 0.10 | 25.00 | 0.45 | 0.80 | 0.75 | |||||
| 0.03 | 0.00 | 0.05 | 25.50 | — | — | — | |||||
| 0.03 | 0.00 | 0.05 | 26.00 | 1.20 | 2.30 | 1.27 | |||||
| 0.03 | 0.00 | 0.05 | 27.00 | 1.95 | 3.40 | 1.20 | |||||
| 0.20 | 0.00 | 0.15 | 28.00 | — | — | — | |||||
| 0.14 | 0.00 | 0.30 | 29.00 | 3.90 | 5.40 | 3.97 | |||||
| 0.05 | 0.00 | 0.30 | 30.00 | — | — | — | |||||
| — | — | — | 31.00 | 5.90 | 7.40 | 5.49 | |||||
| — | — | — | 32.00 | 6.90 | 8.40 | 6.58 | |||||
| — | — | — | 33.00 | 7.90 | 9.40 | 9.20 | |||||
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 PAA put/call ratio?
For the October 16, 2026 expiration, the PAA put/call ratio based on open interest is 1.31 (4,995 puts vs 3,810 calls), and 0.41 based on today's volume. A ratio above 1 means more puts than calls.
What is PAA's implied volatility?
At-the-money implied volatility for PAA options expiring October 16, 2026 is about 37.6%, an annualized estimate of how much the market expects Plains All American Pipeline L.P. stock to move.
How many PAA option expiration dates are there?
PAA 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.