1.54K calls and 1.92K puts traded on Nov 4, 2026, 3.46K contracts in total. Open interest was 19.34K contracts. Over the past 30 days, volume averaged 695 contracts per day. The TPL option volume chart shows volume by strike and expiration date.

Texas Pacific Land IV rank is 15, so its 30-day implied volatility of 57.6% is near the bottom of its one-year range. Over the past year it ranged from 34.9% on Dec 26, 2025 to 184.8% on Jul 17, 2026. See the TPL implied volatility history for a longer view.

The Texas Pacific Land put/call volume ratio was 1.24 on Nov 4, 2026, so puts outnumber calls. The put/call open interest ratio was 0.54. The TPL open interest chart shows calls and puts at each strike.

As of the Nov 4, 2026 close, max pain for Texas Pacific Land options about one week from expiration was $342.45, 19.0% above the $287.69 close. The TPL max pain chart shows it for every expiration date.

Based on 7-day implied volatility of 64.1%, options price a move of about ±$25.53 (±8.9%) over the next week, a range of roughly $262.16 to $313.22 from the Nov 4, 2026 close. The TPL expected move chart shows it for every expiration date.