PM options flow: unusual options activity in Philip Morris International Inc.
Updated 28 September 2026, 09:54 ET
Over the last week the tape recorded 29 unusual options prints in Philip Morris International Inc. (PM), $2.5M of tracked premium, leaning firmly bullish. Bullish premium was $1.7M against $554K bearish; $2.2M went into calls and $291K into puts, a put call ratio of 0.13. The largest print was $825K of PM 18 Dec 2026 $200 calls on 25 September 2026, executed at ask. The last session with prints, 25 September 2026, added 10 prints and $1.3M of premium. PM closed at $190.48 on 25 September 2026, down 0.5%.
This week's unusual flow
Prints from 21 September 2026 to 25 September 2026, 5 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 |
|---|---|---|---|---|---|---|---|---|
| 25 Sep 2026 | PM 18 Dec 2026 $200 calls | Trade | 1,500 | 1,152 | $825K | At ask | Bullish | High conviction |
| 24 Sep 2026 | PM 19 Jan 2029 $140 calls | Sweep | 80 | 0 | $508K | At ask | Bullish | High conviction |
| 22 Sep 2026 | PM 19 Mar 2027 $195 calls | Sweep | 100 | 198 | $136K | At bid | Bearish | Notable |
| 25 Sep 2026 | PM 2 Oct 2026 $190 puts | Sweep | 237 | 62 | $92K | At ask | Bearish | High conviction |
| 21 Sep 2026 | PM 16 Oct 2026 $190 calls | Sweep | 222 | 537 | $87K | At ask | Bullish | Notable |
| 25 Sep 2026 | PM 2 Oct 2026 $190 calls | Trade | 323 | 138 | $73K | At ask | Bullish | Notable |
| 25 Sep 2026 | PM 18 Dec 2026 $195 calls | Sweep | 96 | 1,976 | $68K | At ask | Bullish | Notable |
| 25 Sep 2026 | PM 18 Dec 2026 $190 calls | Trade | 49 | 394 | $49K | At ask | Bullish | |
| 24 Sep 2026 | PM 19 Jan 2029 $175 calls | Trade | 10 | 5 | $44K | At midpoint | Neutral | |
| 25 Sep 2026 | PM 19 Mar 2027 $190 calls | Sweep | 31 | 103 | $43K | At bid | Neutral | |
| 24 Sep 2026 | PM 15 Jan 2027 $110 calls | Trade | 5 | 133 | $41K | At bid | Bearish | |
| 25 Sep 2026 | PM 18 Dec 2026 $195 calls | Sweep | 53 | 1,976 | $38K | At bid | Bearish | Notable |
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 |
|---|---|---|---|---|
| 18 Dec 2026 | 7 | $1.1M | 94% | +$880K |
| 19 Jan 2029 | 4 | $612K | 100% | +$474K |
| 2 Oct 2026 | 4 | $228K | 43% | +$6K |
| 19 Mar 2027 | 3 | $216K | 100% | -$100K |
| 16 Oct 2026 | 2 | $116K | 100% | +$116K |
| 15 Jan 2027 | 3 | $108K | 100% | -$108K |
The most premium, $1.1M, is aimed at the 18 Dec 2026 expiry; the nearest expiry with unusual prints is 2 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 | PM 18 Dec 2026 $200 calls | Trade | 1,500 | 1,152 | $825K | At ask | Bullish | High conviction |
| 25 Sep 2026 | PM 2 Oct 2026 $190 puts | Sweep | 237 | 62 | $92K | At ask | Bearish | High conviction |
| 25 Sep 2026 | PM 2 Oct 2026 $190 calls | Trade | 323 | 138 | $73K | At ask | Bullish | Notable |
| 25 Sep 2026 | PM 18 Dec 2026 $195 calls | Sweep | 96 | 1,976 | $68K | At ask | Bullish | Notable |
| 25 Sep 2026 | PM 18 Dec 2026 $190 calls | Trade | 49 | 394 | $49K | At ask | Bullish |
Every print in PM with its full detail, the live tape, one tap filters and saved screeners: open PM in Options Sentiment Screener.
Price
The live quote and the price chart sit beside the ticker's flow in the app: open PM in Options Sentiment Screener.
Analysts
The most recent analyst targets on file, from 6 firms, have a median of $215, 12.9% 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 Philip Morris International Inc.
- Exchange
- NYSE
- Sector
- Consumer Staples
- Industry
- Tobacco Products
- Headquarters
- New York, Connecticut
- Website
- pmi.com
Philip Morris International Inc. manufactures and sells cigarettes, other nicotine-containing products, smoke-free products and related electronic devices and accessories. The company also sells its products under the Marlboro, Parliament, Bond Street, Chesterfield, L&M, Lark, and Philip Morris brands.
In the same sector
Flow pages for other Consumer Staples names in the S&P 500:
WMT Walmart Inc.COST Costco Wholesale Corp.KO Coca Cola Co.PG Procter & Gamble Co.PEP PepsiCo Inc.MO Altria Group, Inc.MNST Monster Beverage Corp.MDLZ Mondelez International, Inc.
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 PM 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 PM in Options Sentiment Screener