PLAINS ALL AMERICAN PIPELINE LP (PAA) Most Active Options
The 21 most actively traded PLAINS ALL AMERICAN PIPELINE LP (PAA) option contracts at the latest daily snapshot, ranked by volume. Each row shows the contract's price, implied volatility, delta, open interest, and how today's volume compares with its own 30-day average — click a contract to analyze it in the OptiView platform.
Data as of Jul 10, 2026, 8:00 PM ET · OPRA data 15 minutes delayed · For information only — not investment advice.
Most Active PAA Contracts
| Contract | Expiration | DTE | Last | IV | IV rank (30d) | Delta | Open interest | Volume | vs 30d avg |
|---|---|---|---|---|---|---|---|---|---|
| PAA $24 call | Aug 21, 2026 | 42d | $0.13 | 17.5% | 8 | 0.20 | 6,829 | 230 | 8.8× avg |
| PAA $23 call | Aug 21, 2026 | 42d | $0.35 | 16.7% | 2 | 0.45 | 3,258 | 71 | 2.7× avg |
| PAA $22.5 call | Jul 24, 2026 | 14d | $0.45 | 22.2% | 40 | 0.65 | 39 | 55 | 11.1× avg |
| PAA $23 put | Aug 21, 2026 | 42d | $0.95 | 25.1% | 68 | -0.52 | 22 | 45 | 0.6× avg |
| PAA $19 call | Feb 19, 2027 | 224d | $3.95 | 28.4% | 17 | 0.80 | 495 | 35 | 3.0× avg |
| PAA $23 call | Aug 14, 2026 | 35d | $0.55 | 18.1% | 12 | 0.45 | 1 | 30 | 1.1× avg |
| PAA $23 call | Jul 17, 2026 | 7d | $0.15 | 18.3% | 9 | 0.42 | 226 | 25 | 2.1× avg |
| PAA $23 put | Jul 17, 2026 | 7d | $0.40 | 20.4% | 42 | -0.57 | 2,934 | 15 | 3.8× avg |
| PAA $20 call | Jan 21, 2028 | 560d | $3.20 | 25.0% | 34 | 0.67 | 1,123 | 15 | 0.8× avg |
| PAA $13 call | Jan 15, 2027 | 189d | $9.90 | 65.8% | 10 | 0.92 | 18 | 14 | 1.5× avg |
| PAA $22 put | Aug 7, 2026 | 28d | $0.40 | 27.8% | 85 | -0.30 | 6 | 10 | 1.8× avg |
| PAA $22.5 put | Jul 24, 2026 | 14d | $0.20 | 15.1% | 13 | -0.29 | 11 | 9 | 4.7× avg |
| PAA $10 call | Jan 15, 2027 | 189d | $12.69 | 91.1% | 18 | 0.94 | 16 | 9 | 0.9× avg |
| PAA $22.5 call | Jul 17, 2026 | 7d | $0.37 | 16.9% | 33 | 0.76 | 90 | 8 | 0.8× avg |
| PAA $23.5 call | Jul 24, 2026 | 14d | $0.05 | 23.2% | 52 | 0.28 | 30 | 7 | 0.4× avg |
| PAA $11 call | Aug 21, 2026 | 42d | $11.86 | 106.8% | 60 | 0.99 | 1 | 6 | 0.9× avg |
| PAA $20 call | Jan 15, 2027 | 189d | $2.86 | 25.3% | 37 | 0.77 | 17,727 | 5 | 0.3× avg |
| PAA $18 call | Jul 17, 2026 | 7d | $4.88 | 90.9% | 53 | 0.98 | 4 | 4 | 2.4× avg |
| PAA $21 put | Aug 21, 2026 | 42d | $0.16 | 25.7% | 18 | -0.16 | 466 | 4 | 1.0× avg |
| PAA $21.5 put | Aug 28, 2026 | 49d | $0.32 | 29.8% | 26 | -0.28 | 0 | 4 | 1.0× avg |
| PAA $23 call | Nov 20, 2026 | 133d | $0.80 | 19.9% | 33 | 0.47 | 14,114 | 3 | 0.1× avg |
Ranked by volume at the latest daily snapshot. "vs 30d avg" compares today's volume with the contract's own 30-day average.
The most active PAA contract today is the $24 call expiring in 42 days, with 230 contracts traded. Calls dominate the most-active list (15 of the top 21), showing where trading interest concentrates.
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PAA Options FAQ
Which PAA option contract is most active today?
The most traded PAA contract is the $24 call expiring Aug 21, 2026, with 230 contracts traded as of Jul 10, 2026.
How does OptiView rank the most active PAA options?
The table lists the 21 PAA contracts with the highest volume at the latest daily snapshot, alongside price, implied volatility, delta, open interest, and each contract's volume versus its own 30-day average.
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.