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: Jan 21, 2028
Days to expiration: 468
Share price: $201.19
Put/call ratio (OI): 0.71
Put/call ratio (volume): 1.50
ATM implied volatility: 29.4%
Expected move: ±$66.98
Open interest (C / P): 5.69K / 4.02K

PM options summary

The PM options chain for the January 21, 2028 expiration lists 35 call and 30 put contracts, with 468 days until expiration. Open interest stands at 5,690 calls and 4,017 puts, a put/call ratio of 0.71, which is fairly balanced between calls and puts. At-the-money implied volatility near the $200.00 strike is 29.4%, which implies the market expects a move of about ±$66.98 (33.3%) in Philip Morris International stock by expiration.

The most open interest sits at the $210.00 call (1.15K contracts) and the $200.00 put (545 contracts).

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

PM options chain · January 21, 2028

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
0	2	—	95.60	107.50	112.50	75.00	0.15	0.65	0.38	45.4%	8	41
—	—	—	—	—	—	80.00	0.00	1.25	0.79	48.1%	1	15
1	1	—	109.50	104.50	109.00	85.00	1.15	2.15	2.10	50.8%	1	7
0	55	45.9%	98.50	109.50	113.00	90.00	0.05	3.50	2.66	53.9%	1	36
93	1	47.9%	95.10	104.50	109.00	95.00	1.20	1.75	1.55	42.9%	4	21
144	3	43.0%	90.87	99.50	103.50	100.00	0.00	1.60	1.40	39.6%	3	118
29	9	38.2%	84.47	95.00	98.00	105.00	1.00	4.50	3.80	48.4%	1	12
47	1	38.4%	80.52	90.50	93.60	110.00	0.65	2.95	1.63	40.5%	1	29
45	1	37.5%	75.62	86.00	89.00	115.00	0.05	2.10	2.09	34.9%	3	31
74	13	36.8%	71.20	81.50	84.50	120.00	1.05	3.30	2.95	36.8%	2	267
37	1	37.3%	66.00	77.00	80.50	125.00	2.60	3.60	3.00	35.3%	12	335
125	4	36.1%	57.85	73.00	76.00	130.00	2.65	3.60	3.35	33.0%	1	96
33	2	36.1%	63.11	69.00	72.00	135.00	3.60	4.70	4.08	33.6%	11	30
100	1	35.7%	66.60	65.00	68.00	140.00	2.50	6.40	6.35	34.9%	4	244
206	7	34.8%	55.10	61.00	63.80	145.00	3.00	7.20	5.81	34.1%	1	172
175	1	35.4%	51.45	57.00	60.50	150.00	4.80	7.40	10.20	32.0%	1	401
173	6	34.5%	44.30	53.50	56.50	155.00	6.30	7.80	11.00	30.4%	1	168
244	18	34.2%	51.47	50.00	53.00	160.00	7.40	10.60	11.50	32.4%	1	197
504	2	33.5%	47.97	46.00	49.30	165.00	8.00	10.20	12.78	29.3%	100	201
165	3	33.1%	38.78	43.00	45.90	170.00	9.70	12.50	15.10	30.1%	5	72
112	1	32.6%	40.35	40.20	42.60	175.00	12.60	14.00	13.66	29.5%	1	456
126	14	32.4%	39.90	37.20	39.60	180.00	14.30	15.80	20.31	29.1%	6	201
190	3	33.0%	27.00	34.20	37.50	185.00	15.90	17.70	16.50	28.8%	1	57
117	2	32.2%	24.70	31.50	34.30	190.00	18.00	19.70	23.35	28.3%	3	181
126	22	31.4%	25.11	28.00	31.20	195.00	18.50	22.00	30.00	28.0%	1	24
247	7	31.5%	29.08	25.50	29.00	200.00	20.50	24.10	27.80	27.3%	500	545
PM $201.19
1,153	28	31.7%	24.20	22.10	25.10	210.00	26.00	29.60	27.95	27.0%	2	53
541	46	31.2%	20.00	18.10	21.10	220.00	32.00	35.40	33.61	26.3%	2	6
267	50	29.3%	10.00	14.80	16.30	230.00	—	—	—	—	—	—
91	10	29.5%	12.60	10.50	13.80	240.00	—	—	—	—	—	—
276	3	29.4%	10.00	8.80	11.50	250.00	68.50	71.50	56.20	42.5%	2	1
19	2	29.3%	8.60	7.40	9.50	260.00	—	—	—	—	—	—
0	1	6.3%	5.00	0.00	0.00	270.00	—	—	—	—	—	—
150	6	30.1%	3.30	3.10	7.10	280.00	0.00	0.00	106.20	—	—	0
0	100	6.3%	3.00	0.00	0.00	290.00	—	—	—	—	—	—
80	28	27.7%	3.80	2.75	3.70	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 January 21, 2028 expiration, the PM put/call ratio based on open interest is 0.71 (4,017 puts vs 5,690 calls), and 1.50 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 January 21, 2028 is about 29.4%, 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.