Texas Pacific Land (TPL) Options Chain

NYSE: TPLEnergyOil & Gas ProductionUSD

360.98+3.20 (+0.89%)

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

Expiration date

Expiration: Jan 15, 2027
Days to expiration: 96
Share price: $360.98
Put/call ratio (OI): 0.60
Put/call ratio (volume): 0.55
ATM implied volatility: 45.6%
Expected move: ±$84.40
Open interest (C / P): 7.23K / 4.33K

TPL options summary

The TPL options chain for the January 15, 2027 expiration lists 38 call and 33 put contracts, with 96 days until expiration. Open interest stands at 7,228 calls and 4,325 puts, a put/call ratio of 0.60, which is tilted bullish, with calls outnumbering puts. At-the-money implied volatility near the $360.00 strike is 45.6%, which implies the market expects a move of about ±$84.40 (23.4%) in Texas Pacific Land stock by expiration.

The most open interest sits at the $560.00 call (1.32K contracts) and the $350.00 put (1.61K contracts).

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

TPL options chain · January 15, 2027

TPL 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	—	204.50	0.00	0.00	190.00	0.00	4.90	0.20	78.5%	1	17
4	—	88.3%	209.60	166.70	174.70	195.00	0.00	0.00	0.80	25.0%	2	0
0	1	—	152.20	0.00	0.00	200.00	0.00	4.90	0.85	73.1%	5	6
—	—	—	—	—	—	210.00	0.00	4.90	1.35	67.9%	1	2
—	—	—	—	—	—	220.00	0.00	0.00	1.60	25.0%	4	0
—	—	—	—	—	—	230.00	0.00	4.90	0.25	58.2%	3	9
—	—	—	—	—	—	240.00	0.65	2.65	2.00	54.6%	1	28
0	1	—	150.00	0.00	0.00	250.00	1.50	4.00	2.80	50.6%	1	53
13	5	54.0%	124.00	101.70	110.00	260.00	0.05	8.80	5.10	52.5%	1	11
1	—	52.2%	104.30	92.70	101.00	270.00	0.85	8.80	4.10	59.9%	7	13
2	1	50.3%	67.00	84.00	92.00	280.00	3.30	6.20	4.90	48.3%	1	26
7	1	54.9%	72.00	77.10	82.30	290.00	5.10	8.10	7.44	48.0%	1	28
1,139	1	54.1%	66.10	68.70	74.70	300.00	7.20	9.70	8.00	46.3%	1	1,434
741	2	52.4%	48.70	60.00	66.90	310.00	9.60	13.70	10.35	48.5%	1	25
23	1	53.4%	59.30	54.50	61.10	320.00	10.80	14.70	16.72	44.6%	1	31
38	1	52.5%	41.07	47.10	54.50	330.00	15.60	18.00	16.00	44.1%	4	32
23	7	50.3%	39.72	40.30	47.40	340.00	18.40	21.70	19.46	43.4%	5	48
62	1	48.4%	40.37	36.70	40.90	350.00	23.40	26.60	24.35	43.8%	6	1,610
222	1	48.1%	28.01	29.50	35.90	360.00	26.70	31.20	29.10	43.1%	1	110
TPL $360.98
21	1	50.6%	30.35	25.40	33.40	370.00	32.20	36.70	46.50	42.9%	3	20
19	2	50.4%	25.60	22.20	29.30	380.00	37.50	42.80	50.25	42.9%	1	505
274	1	47.1%	21.95	17.60	23.40	390.00	44.00	49.30	44.15	42.8%	3	13
162	1	48.8%	16.30	14.50	21.50	400.00	51.90	56.00	79.50	42.4%	111	233
20	2	47.2%	13.62	13.30	17.60	410.00	0.00	0.00	61.90	—	—	0
40	10	47.1%	11.96	10.50	15.10	420.00	70.10	74.30	58.00	47.4%	3	4
71	1	48.6%	8.30	8.50	13.90	430.00	72.60	76.60	57.70	37.8%	—	1
232	200	47.4%	7.90	7.10	11.30	440.00	81.20	89.20	84.04	45.5%	6	43
234	1	48.4%	7.35	5.00	10.20	450.00	90.40	98.10	86.73	46.3%	3	5
47	13	47.7%	6.80	4.60	8.40	460.00	0.00	0.00	107.35	—	1	0
40	10	50.0%	9.90	2.45	8.30	470.00	107.90	116.00	133.20	47.3%	10	8
323	2	53.9%	5.00	2.80	9.00	480.00	110.90	118.60	86.00	—	10	10
120	50	52.3%	3.60	2.35	7.10	490.00	126.60	134.80	118.70	49.2%	1	0
442	4	54.5%	2.75	1.60	7.10	500.00	135.90	144.40	131.80	50.4%	5	0
8	1	51.9%	1.45	0.70	5.20	510.00	—	—	—	—	—	—
201	2	51.4%	2.47	0.70	4.30	520.00	—	—	—	—	—	—
19	1	53.9%	1.85	0.05	4.50	530.00	—	—	—	—	—	—
1,140	10	50.3%	2.28	0.05	5.70	540.00	—	—	—	—	—	—
1,325	2	55.0%	1.67	0.05	6.40	560.00	—	—	—	—	—	—
12	1	58.2%	0.50	0.05	6.40	580.00	—	—	—	—	—	—
166	4	58.0%	0.55	0.00	4.90	600.00	—	—	—	—	—	—
0	1	25.0%	2.45	0.00	0.00	620.00	—	—	—	—	—	—
37	25	63.5%	0.80	0.00	4.90	640.00	—	—	—	—	—	—

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 TPL put/call ratio?

For the January 15, 2027 expiration, the TPL put/call ratio based on open interest is 0.60 (4,325 puts vs 7,228 calls), and 0.55 based on today's volume. A ratio above 1 means more puts than calls.

What is TPL's implied volatility?

At-the-money implied volatility for TPL options expiring January 15, 2027 is about 45.6%, an annualized estimate of how much the market expects Texas Pacific Land stock to move.

How many TPL option expiration dates are there?

TPL has 4 listed expiration dates, from Oct 16, 2026 to Apr 16, 2027.

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.