Philip Morris International (PM) Options Chain

NYSE: PMHealth Care Medicinal Chemicals and Botanical Products USD

201.19+0.69 (+0.34%)

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

Expiration date

Expiration: Mar 19, 2027
Days to expiration: 159
Share price: $201.19
Put/call ratio (OI): 1.50
Put/call ratio (volume): 0.12
ATM implied volatility: 29.9%
Expected move: ±$39.77
Open interest (C / P): 6.06K / 9.09K

PM options summary

The PM options chain for the March 19, 2027 expiration lists 29 call and 25 put contracts, with 159 days until expiration. Open interest stands at 6,057 calls and 9,094 puts, a put/call ratio of 1.50, which is more bearish, with puts outnumbering calls. At-the-money implied volatility near the $200.00 strike is 29.9%, which implies the market expects a move of about ±$39.77 (19.8%) in Philip Morris International stock by expiration.

The most open interest sits at the $195.00 call (2.28K contracts) and the $160.00 put (1.54K contracts).

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

PM options chain · March 19, 2027

PM 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
—	—	—	—	—	—	80.00	0.00	0.40	0.10	61.2%	12	40
—	—	—	—	—	—	85.00	0.00	0.00	1.50	25.0%	2	0
—	—	—	—	—	—	90.00	0.30	1.95	1.65	71.3%	1	20
0	5	—	85.74	85.10	88.40	95.00	0.00	0.00	0.39	25.0%	8	0
—	—	—	—	—	—	100.00	0.00	0.35	0.21	51.4%	2	22
—	—	—	—	—	—	105.00	0.30	0.75	0.55	51.4%	4	29
—	—	—	—	—	—	110.00	0.10	0.45	0.67	46.9%	3	155
10	5	—	74.96	75.30	77.90	115.00	0.00	0.50	0.43	44.6%	1	14
13	8	56.6%	72.75	80.30	83.40	120.00	0.25	0.45	0.90	40.9%	1	42
3	—	—	44.55	51.80	55.60	125.00	0.15	0.55	0.50	39.4%	1	32
1	1	—	51.35	61.70	65.70	130.00	0.45	0.75	1.05	38.8%	1	71
10	1	45.4%	56.29	65.80	68.30	135.00	0.60	1.05	1.22	38.5%	1	122
0	1	—	50.97	0.00	0.00	140.00	0.60	1.10	1.10	35.9%	11	280
4	3	45.1%	49.45	57.30	59.70	145.00	0.90	1.50	1.35	35.6%	3	634
12	1	40.9%	45.18	52.00	54.50	150.00	1.10	2.45	1.70	37.3%	26	260
47	14	39.4%	40.25	47.40	50.00	155.00	1.95	2.35	2.20	33.7%	34	699
31	4	37.3%	36.64	43.20	45.40	160.00	2.45	2.85	2.75	32.6%	5	1,542
32	4	36.3%	32.35	39.00	41.20	165.00	2.10	3.60	3.70	32.0%	50	966
44	1	35.2%	37.11	34.90	37.10	170.00	3.90	4.40	4.35	31.1%	5	674
40	2	34.3%	23.34	30.80	33.20	175.00	4.90	6.10	5.50	32.1%	46	333
65	11	33.3%	21.30	27.50	29.40	180.00	4.80	7.10	6.70	30.8%	59	639
159	4	32.8%	19.60	24.10	26.00	185.00	7.70	8.50	8.50	30.0%	10	332
103	4	31.6%	22.74	21.00	22.50	190.00	8.00	11.10	9.80	31.2%	14	1,104
2,282	4	30.9%	18.70	17.90	19.40	195.00	11.30	12.30	12.10	29.1%	9	1,033
1,219	2,040	30.2%	16.50	16.40	16.60	200.00	13.20	15.10	14.50	29.7%	7	51
PM $201.19
421	4	30.5%	11.70	11.00	12.50	210.00	—	—	—	—	—	—
493	10	29.8%	7.80	7.50	8.80	220.00	—	—	—	—	—	—
824	452	29.9%	6.49	3.70	6.30	230.00	—	—	—	—	—	—
139	100	29.8%	4.50	1.75	4.40	240.00	—	—	—	—	—	—
55	20	29.6%	2.70	1.55	2.95	250.00	—	—	—	—	—	—
34	3	29.8%	1.20	0.80	2.05	260.00	—	—	—	—	—	—
7	4	30.2%	1.45	0.50	1.45	270.00	—	—	—	—	—	—
2	1	30.7%	0.75	0.50	1.05	280.00	—	—	—	—	—	—
3	1	31.1%	0.52	0.30	0.75	290.00	—	—	—	—	—	—
4	1	32.1%	0.40	0.05	0.60	300.00	—	—	—	—	—	—

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 PM put/call ratio?

For the March 19, 2027 expiration, the PM put/call ratio based on open interest is 1.50 (9,094 puts vs 6,057 calls), and 0.12 based on today's volume. A ratio above 1 means more puts than calls.

What is PM's implied volatility?

At-the-money implied volatility for PM options expiring March 19, 2027 is about 29.9%, an annualized estimate of how much the market expects Philip Morris International stock to move.

How many PM option expiration dates are there?

PM 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.