CMS Options Chain by Expiration – Open Interest & Put/Call Ratio

Explore the CMS options chain aggregated by expiration date, with call and put open interest, total OI and put/call ratios. Use this overview to spot where options positioning is most concentrated and which expirations carry bullish, bearish or neutral sentiment for CMS.

Options Analysis Short-Term Forecast Short Interest Report

Market Sentiment from CMS Options by Expiration Date

The table below aggregates CMS options data by expiration date, including call volume, put volume, total open interest and the put/call ratio. Each row is assigned a sentiment label and numerical sentiment score, highlighting expirations where positioning is extremely bullish, defensive or balanced. Click on an expiration date to drill down into the detailed options chain for that maturity.

Expiration Date	Call OI	Put OI	Total Open Interest	Put/Call Ratio
2026-02-20	980	52	1032	0.053
2026-03-20	3536	2067	5603	0.585
2026-06-18	296	29	325	0.098
2026-09-18	1	3	4	3.000
2026-12-18	22	3	25	0.136
How the Options Sentiment Score Is Calculated This sentiment framework evaluates market bias for CMS based on aggregated options data by expiration date. The key metrics are: Put/Call Ratio (PCR): Compares put and call activity. A higher PCR usually indicates more defensive or bearish positioning, while a lower PCR suggests bullish call demand. Open Interest (OI): Represents the number of outstanding option contracts. Higher open interest reflects strong market attention, hedging activity or speculative positioning around CMS. Unusual activity ⚠️: Expirations with extreme PCR or unusually high OI are flagged with a warning icon, signaling concentrated bets, hedging pressure or potential event-driven risk. The sentiment score combines PCR and OI into a 0–100 scale, then classifies each expiration into intuitive labels such as Strong Bullish, Moderate Bullish, Neutral, Moderate Bearish, Strong Bearish. Higher scores reflect more aggressive bullish positioning in CMS options, while lower scores highlight more defensive or bearish structures.