PM Gamma Exposure, IV Rank & Implied Volatility
Philip Morris International (PM) options data — GEX, IV rank, options chain & Greeks
PM options trade with implied volatility typically in the 15% - 32% range, averaging N/A in daily volume with very good liquidity. Next earnings: See earnings calendar. Weekly options and LEAPS are available.
An IV rank near 40.0 (the value shown here is illustrative) would mean implied volatility is in roughly the 40.0th percentile of its 1-year range — middle range, neutral on premium selling vs buying. For today's live PM IV rank from ORATS, open the dashboard.
Chart shows simulated data for display purposes. View the real PM IV history on the live platform →
Comprehensive options market data for Philip Morris International (PM).
PM Options at a Glance
What's Covered in This Guide
1 About Philip Morris International (PM)
Philip Morris International (PM) is a tobacco company listed on NYSE.
Company Profile
Key Dates
Philip Morris International is a Tobacco) company in the Consumer Staples sector.
2 PM Options Market Overview
PM options provide trading opportunities for options traders.
Liquidity Assessment: Very Good
PM options provide trading opportunities across multiple expirations.
3 PM Implied Volatility & IV Rank
PM implied volatility patterns reflect the tobacco sector dynamics.
Earnings Impact
IV typically expands before earnings and contracts after the announcement.
The post-earnings volatility drop is known as IV crush. Holders of short PM options should also understand early assignment risk around dividends and expiration.
Historical Volatility vs IV
PM IV generally trades near historical volatility, with premiums expanding around earnings.
Term Structure
Typically upward sloping under normal conditions.
PM Gamma Exposure (GEX)
Gamma Exposure analysis for PM reveals dealer hedging dynamics at key strike levels.
Typical GEX Profile: PM tends to operate in a positive gamma environment during normal conditions.
Key Levels:
Dealer Hedging:
4 Common PM Options Strategies
These are strategies commonly used by traders on PM options, based on typical market characteristics. This is not investment advice.
Popular for PM shareholders seeking additional income.
Defined-risk directional exposure on PM.
Range-bound strategy for PM between events.
Key Considerations for PM Options
- Monitor PM earnings dates for IV expansion/contraction patterns
- Consider the stock's beta when sizing options positions
- PM options liquidity varies by expiration - prefer near-term and monthly expirations
Frequently Asked Questions: PM Options
What is PM's typical implied volatility?
PM implied volatility typically ranges from 15% - 32%. IV patterns are influenced by earnings, sector events, and market conditions.
Does PM have weekly options?
Yes, PM offers weekly options expirations.
What is PM's options trading profile?
PM (Philip Morris International) options trade with very good liquidity, averaging N/A in daily volume, typical bid-ask spreads of N/A. Implied volatility typically falls in the 15% - 32% range. The position sits in the Consumer Staples category for portfolio diversification and options strategy design.
How does PM implied volatility behave around earnings?
IV typically expands before earnings and contracts after the announcement. Next scheduled earnings: See earnings calendar. Traders often size short premium positions for the post-earnings IV crush, while long premium buyers should be aware that the IV decline can outweigh small directional moves.
What options strategies work well on PM?
Popular strategies on PM options include Covered Calls, Vertical Spreads, Iron Condors. Strategy selection depends on the current IV environment versus the 15% - 32% typical range, days to next earnings, and the trader's directional outlook. Higher IV regimes favour premium-selling strategies; lower IV regimes favour directional debit spreads or long premium plays.
What is PM's gamma exposure (GEX)?
Gamma exposure (GEX) measures how options dealers' hedging of their net gamma position can influence PM's intraday price action. PM tends to operate in a positive gamma environment during normal conditions. Positive GEX tends to dampen volatility and create mean-reverting moves, while negative GEX can amplify swings. View live PM GEX levels and the gamma-flip point on ApexVol.
What is PM's IV rank?
PM's IV rank shows where PM's current implied volatility sits within its trailing 1-year range, scored 0–100. A reading near 100 means IV is near its yearly high — options are relatively expensive, which favors premium-selling strategies like credit spreads and iron condors. A reading near 0 means IV is near its yearly low, favoring premium-buying. PM implied volatility typically ranges from 15% - 32%. Check PM's live IV rank and percentile on ApexVol's IV analytics.
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