CMI options flow: unusual options activity in Cummins Inc.
Updated 28 September 2026, 09:54 ET
Over the last week the tape recorded 17 unusual options prints in Cummins Inc. (CMI), $3.6M of tracked premium, leaning bearish. Bullish premium was $177K against $756K bearish; $2.8M went into calls and $801K into puts, a put call ratio of 0.29. The largest print was $2.4M of CMI 17 Sep 2027 $520 calls on 23 September 2026, executed at midpoint. The last session with prints, 25 September 2026, added 1 print and $51K of premium. CMI closed at $525.06 on 25 September 2026, up 0.8%.
This week's unusual flow
Prints from 21 September 2026 to 25 September 2026, 4 sessions. Delayed tier: every print is shown twenty minutes after it executed, and the page is rebuilt after each session.
Net premium is bullish minus bearish premium. The put call ratio is put premium divided by call premium, weighted by money rather than by contract count. Sweeps is the share of prints executed across several exchanges at once. Read the guide: Reading the Pulse.
Largest prints of the week
| Date | Contract | Type | Size | Open int. | Premium | Execution | Sentiment | Tier |
|---|---|---|---|---|---|---|---|---|
| 23 Sep 2026 | CMI 17 Sep 2027 $520 calls | Trade | 300 | 4 | $2.4M | At midpoint | Neutral | Whale |
| 22 Sep 2026 | CMI 18 Dec 2026 $550 puts | Trade | 60 | 135 | $310K | At ask | Bearish | Notable |
| 23 Sep 2026 | CMI 17 Sep 2027 $510 puts | Trade | 29 | 41 | $171K | At ask | Bearish | Notable |
| 21 Sep 2026 | CMI 16 Oct 2026 $530 puts | Sweep | 102 | 688 | $152K | At ask | Bearish | Notable |
| 21 Sep 2026 | CMI 17 Sep 2027 $400 calls | Trade | 5 | 1 | $82K | At ask | Neutral | |
| 22 Sep 2026 | CMI 18 Dec 2026 $500 calls | Sweep | 12 | 11 | $65K | At bid | Neutral | Notable |
| 21 Sep 2026 | CMI 19 Mar 2027 $340 calls | Trade | 3 | 16 | $61K | At bid | Bearish | |
| 25 Sep 2026 | CMI 16 Oct 2026 $560 calls | Sweep | 123 | 93 | $51K | At ask | Neutral | Notable |
| 21 Sep 2026 | CMI 16 Oct 2026 $510 calls | Trade | 13 | 11 | $43K | At ask | Bullish | Notable |
| 23 Sep 2026 | CMI 20 Nov 2026 $510 puts | Trade | 15 | 3 | $41K | At bid | Bullish | |
| 22 Sep 2026 | CMI 18 Dec 2026 $500 calls | Sweep | 7 | 11 | $37K | At ask | Bullish | Notable |
| 23 Sep 2026 | CMI 20 Nov 2026 $510 puts | Trade | 13 | 3 | $35K | At ask | Neutral |
Size above open interest means the trade opened a position larger than everything that existed in the contract the night before. Above ask and below bid are the most aggressive executions. Read the guide: Size versus open interest.
Where the money is aimed
| Expiry | Prints | Premium | Calls share | Net premium |
|---|---|---|---|---|
| 17 Sep 2027 | 6 | $2.7M | 90% | -$150K |
| 18 Dec 2026 | 3 | $412K | 25% | -$273K |
| 16 Oct 2026 | 5 | $299K | 49% | -$136K |
| 20 Nov 2026 | 2 | $76K | 0% | +$41K |
| 19 Mar 2027 | 1 | $61K | 100% | -$61K |
The most premium, $2.7M, is aimed at the 17 Sep 2027 expiry; the nearest expiry with unusual prints is 16 Oct 2026.
A print in a contract expiring this week is a view about the next few days, often about a known event; a print months out is a different kind of statement. Read the guide: 0DTE options flow.
The last session, 25 September 2026
| Date | Contract | Type | Size | Open int. | Premium | Execution | Sentiment | Tier |
|---|---|---|---|---|---|---|---|---|
| 25 Sep 2026 | CMI 16 Oct 2026 $560 calls | Sweep | 123 | 93 | $51K | At ask | Neutral | Notable |
Every print in CMI with its full detail, the live tape, one tap filters and saved screeners: open CMI in Options Sentiment Screener.
Price
The live quote and the price chart sit beside the ticker's flow in the app: open CMI in Options Sentiment Screener.
Analysts
The most recent analyst targets on file, from 10 firms, have a median of $776, 47.8% above the last close.
Calls bought at a strike above the average target are a bet that the analysts are too cautious; puts far below the price in a name they like are protection or a strong disagreement. Read the guide: Reading one ticker's flow.
About Cummins Inc.
- Exchange
- NYSE
- Sector
- Industrials
- Industry
- Machinery
- Headquarters
- Columbus, Indiana
- Website
- cummins.com
Cummins Inc. designs, manufactures, distributes, and services diesel and natural gas engines. It operates through five segments: Engine, Distribution, Components, Power Systems, and New Power. Cummins sells its products to original equipment manufacturers, distributors, dealers, and other customers.
In the same sector
Flow pages for other Industrials names in the S&P 500:
CAT Caterpillar Inc.GE General Electric Co.GEV GE Vernova Inc.RTX RTX Corp.DE Deere & Co.ETN Eaton Corp. plcUNP Union Pacific Corp.BA Boeing Co.
Learn
- What unusual options activity means
- Reading one ticker's flow
- Sweeps, blocks and where a trade printed
- Size versus open interest
- Bullish or bearish, how a print's sentiment is inferred
- The conviction score and whale prints
The live tape for CMI with every print's execution detail, one tap filters for calls, puts, sweeps and 0DTE, saved screeners and, for Realtime subscribers, push alerts and no delay. The same screen is in the iOS and Android apps.
Open CMI in Options Sentiment Screener