Will the dividend impact the pricing of options and other derivatives on Marten Transport?

Yes – the $0.06 quarterly dividend will affect the pricing of options and other derivatives on Marten Transport (MRTN).

When the stock goes “ex‑dividend” on Sept 16, 2025 the underlying price will typically drop by roughly the dividend amount (≈ $0.06) as the right to the cash payment detaches from the share. In option‑pricing models (e.g., Black‑Scholes) this is treated as a known cash‑dividend, which reduces the forward price used to compute the option’s theoretical value. Consequently, the fair‑value of both calls and puts will be adjusted downward for calls (higher‑strike) and upward for puts (lower‑strike) by roughly the present value of the dividend.

Trading implications

• American‑style equity calls: Because the ex‑div date creates a small, predictable price drop, deep‑in‑the‑money calls may be exercised early (on or just before Sept 16) to capture the dividend. The early‑exercise premium is modest given the $0.06 size, but it can still affect the delta‑hedging of short‑call positions. Traders holding short calls should monitor the ex‑div date and be prepared to buy the stock early to avoid an unwanted exercise.
  
• European‑style options and cash‑settled derivatives: The dividend is already baked into the model‑implied forward price, so the market will price the contracts with a slightly lower forward. Implied volatility surfaces may show a small “dip” around the ex‑div date as the expected move is absorbed.
  
• Put‑call parity & spreads: The dividend reduces the forward price, tightening the parity relationship. When constructing calendar spreads or verticals that straddle the ex‑div date, adjust the strike selection to reflect the $0.06 forward shift; otherwise the spread may be mis‑priced and risk early‑exercise or carry‑over of the dividend‑adjusted delta.
  

Actionable take‑away:

If you are long or short MRTN options that expire after Sept 30, incorporate a $0.06 cash‑dividend into your pricing (or use the market‑provided dividend‑adjusted forward). For American calls, consider early exercise of deep‑ITM positions to capture the dividend, and for short‑call writers, be ready to buy the stock before the ex‑div date to avoid assignment. Adjust your delta‑hedges and volatility assumptions accordingly to reflect the modest but measurable impact of the quarterly dividend on derivative pricing.