PLAINS ALL AMERICAN PIPELINE LP (PAA) Options Statistics & Positioning

PLAINS ALL AMERICAN PIPELINE LP (PAA) options trade at a 30-day at-the-money implied volatility of 21.6%, an IV rank of 25 out of 100 over the past year. The options market prices a ±$1.18 (±5.2%) move in PAA for the front expiration. Max pain sits at $20 and the put/call open interest ratio is 0.16. Statistics are computed by OptiView from delayed OPRA options data and refresh every trading day.

Data as of Jul 10, 2026, 8:00 PM ET · OPRA data 15 minutes delayed · For information only — not investment advice.

Last close

$22.88

52-week range

$15.85 – $23.75

ATM IV (30d)

21.6%

IV rank

25 / 100

Low

Expected move

±$1.18 (±5.2%)

Put/call OI

0.16

Call-heavy

Max pain

$20

↓ 12.6% below close

Next earnings

Aug 9, 2026

Most Active PAA Contracts

Contract	Expiration	DTE	Last	IV	Volume
PAA $24 call	Aug 21, 2026	42d	$0.13	17.5%	230
PAA $23 call	Aug 21, 2026	42d	$0.35	16.7%	71
PAA $22.5 call	Jul 24, 2026	14d	$0.45	22.2%	55
PAA $23 put	Aug 21, 2026	42d	$0.95	25.1%	45
PAA $19 call	Feb 19, 2027	224d	$3.95	28.4%	35

See all active PAA contracts →

Explore PAA Options Statistics

PAA Implied Volatility

21.6% ATM IV (30d)

An IV rank of 25 places implied volatility in the lower part of its 52-week range.

Full implied volatility analysis →

PAA Open Interest

0.16 put/call OI ratio

167,288 calls and 26,113 puts outstanding across all expirations.

Full open interest analysis →

PAA Max Pain

$20 max pain

12.6% below the last close — see how max pain has moved over the past year.

Full max pain analysis →

PAA Gamma Exposure

$666.25M net GEX

Positive dealer gamma — hedging currently leans against price swings.

Full gamma exposure analysis →

PAA Options Volume

716 contracts traded

Put/call volume ratio 0.17 — plus contracts running far above their usual volume.

Full volume & flow analysis →

PAA Most Active Options

$24 top volume strike

The 25 most actively traded PAA contracts with price, IV, greeks, and volume vs. average.

Full active contracts analysis →

Upcoming Earnings

PAA's next expected earnings date is Aug 9, 2026. Options currently price a ±$1.18 (±5.2%) move for the front expiration.

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PAA Options FAQ

When is PAA's next earnings date?

PAA's next expected earnings date is Aug 9, 2026. Options currently price a ±$1.18 (±5.2%) move for the front expiration.

How often is PAA options data on this page updated?

All PAA statistics on this page are computed by OptiView from delayed OPRA options data and refresh every trading day after the session close.

Where can I see PAA max pain, open interest, and implied volatility in detail?

OptiView publishes dedicated PAA pages for implied volatility, max pain, open interest, gamma exposure, options volume, and the most active contracts — each with charts, history, and a plain-English explanation of what the numbers mean.

Methodology. IV rank compares the current 30-day at-the-money implied volatility with its highest and lowest values over the past 52 weeks. Max pain is the strike that minimizes the total payout to option holders at expiration. The call and put walls are the strikes carrying the largest call and put open interest across all expirations. Net gamma exposure (GEX) is measured from the dealer perspective. All statistics are derived from delayed OPRA options data.

Options trading involves significant risk, and losses can exceed your initial investment. Always consult a licensed financial professional before making investment decisions. OptiView does not provide financial advice; all figures on this page are descriptive statistics, not recommendations.