Caterpillar Inc. (CAT)
Overview · Option chain · Volatility · Expected-move history · Earnings
Cboe delayed options data · as of 06:34 UTC · Figures derived from the full chain (3,232 contracts, 17 expirations) · IV own-history percentile appears after 60 recorded days (28 so far)
Expected move · Nov 20, 2026 (32 days)
Methodology →Read from option prices: the at-the-money straddle costs this much, so the market is pricing a move of about that size in either direction by this date. It is an estimate of movement, not a prediction of direction.
Options are pricing a move of about ±11.6% (range 645.58–815.58) by Nov 20, 2026. ATM straddle: 85.00 @ strike 730 · ATM IV: 47.1%.
Probability distribution
Model & assumptions →The curve shows where a lognormal model, fed with current implied volatility, puts the range of outcomes at this expiration. Shaded: the expected-move band.
| Level | vs price | P(above)Model-estimated chance the stock finishes above a level at expiration, derived from current IV under a lognormal model with stated assumptions — an estimate, not a prediction. | P(below) |
|---|---|---|---|
| 657.52 | -10% | 75.4% | 24.6% |
| 694.05 | -5% | 61.7% | 38.3% |
| 730.58 | +0% | 47.2% | 52.8% |
| 767.11 | +5% | 33.7% | 66.3% |
| 803.64 | +10% | 22.6% | 77.4% |
Model-estimated probabilities of finishing above/below each level at expiration: estimates under stated assumptions, not predictions.
Probability explorer
Drag the slider to any level and see the model-estimated chance the stock finishes above or below it at the selected expiration.
Horizon: Nov 20, 2026 · lognormal model with zero drift: an estimate, not a prediction. Assumptions
Expirations
Open the chain →| Expires | DTEDays to expiration, in calendar days. | Implied move | ATM IV | Open int. |
|---|---|---|---|---|
| Oct 23, 2026 | 4 | ±4.6% | 41.8% | 15.9K |
| Oct 30, 2026 | 11 | ±8.7% | 55.3% | 9,248 |
| Nov 06, 2026 | 18 | ±9.8% | 51.3% | 5,319 |
| Nov 13, 2026 | 25 | ±10.7% | 48.5% | 3,290 |
| Nov 20, 2026 | 32 | ±11.6% | 47.1% | 29.1K |
| Nov 27, 2026 | 39 | ±12.1% | 44.6% | 1,330 |
| Dec 18, 2026 | 60 | ±13.9% | 41.8% | 24.4K |
| Jan 15, 2027 | 88 | ±16.1% | 40.4% | 50.2K |
| Feb 19, 2027 | 123 | ±18.9% | 40.3% | 6,024 |
| Mar 19, 2027 | 151 | ±20.8% | 40.1% | 10.2K |
Open interest by strike · Nov 20
Where option positions are concentrated. Teal bars are calls, red bars are puts; the dashed line is the current price.
Largest open-interest concentrations (all expirations ≤ 60 days): 700 P · 2,198740 P · 2,192720 P · 2,177900 C · 2,079760 P · 1,787
IV term structure
Volatility page →At-the-money implied volatility for each expiration. A hump around a date often marks a scheduled event the market is pricing.
When does open interest expire?
Implied vs realized volatility
HV from our stored daily closes (annualized); IV30 interpolated from the chain. Method
Price, last 60 sessions
Daily closes; Financial Modeling Prep.
Track record
Full history →Of 93 recorded snapshot-versus-outcome comparisons so far, the close landed inside the expected range 81.7% of the time.
Past earnings reactions
Avg |reaction| 4.9% · median 4.4% (20 reports). Two-session close-to-close window; definition
About Caterpillar Inc.
Caterpillar Inc., a global enterprise founded in 1925 and headquartered in Deerfield, Illinois (having previously operated as Caterpillar Tractor Co. until its rebranding in 1986), is a premier manufacturer and vendor of heavy construction and mining equipment, diesel and natural gas power units, and industrial gas turbines across the world. The company's extensive offerings are organized into several operational divisions: Construction Industries: This segment delivers a broad spectrum of machinery for construction projects, including asphalt pavers, versatile backhoe and skid steer loaders, various sizes of excavators (from compact to heavy-duty), compactors, road-building equipment like cold planers and motorgraders, pipelayers, site preparation tractors, telehandlers, and utility vehicles, alongside a range of wheel loaders and track-type equipment. Resource Industries: Dedicated to the mining sector, this division supplies powerful equipment such as electric rope and hydraulic shovels, draglines, rotary drills, specialized hard rock vehicles, and a diverse fleet of mining, off-highway, and articulated trucks. It also offers longwall miners, wheel dozers, fleet management syste
Industrials · Agricultural - Machinery · NYSE · Profile: Financial Modeling Prep
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