IBM option chain International Business Machines Corporation

Expiration Cboe delayed options data · as of 12:37 UTC

Each row is one strike. The left half is the call, the right half the put. Bid/ask are what buyers and sellers currently quote; volume is contracts traded this session; open interest is standing contracts. The highlighted row sits closest to the stock price.

This expiration prices a move of about ±14.6% (198.64–266.44) · ATM IV 36.4% · P/C open interest 0.75

CALLS								Strike	PUTS
Bid	Ask	Vol	OIThe number of option contracts currently outstanding at a strike or expiration. High open interest shows where positions are concentrated.	IV	ΔModel sensitivity of an option's price to a $1 move in the stock; also used as a rough moneyness scale (a 25-delta option is well out of the money).	Γ	Θ		Bid	Ask	Vol	OI	IV	Δ	Γ	Θ
111.25	114.65		64	70.9%	1.00	0.0001	-0.002	120	0.0300	0.3000	2	621	57.6%	-0.00	0.0002	-0.004
106.25	109.35		2	62.1%	1.00	0.0001	-0.003	125	0	0.3400		144	54.6%	-0.01	0.0003	-0.005
101.25	104.70		7	62.5%	1.00	0.0002	-0.003	130	0.0500	0.2400		159	50.4%	-0.01	0.0003	-0.006
96.25	99.75		47	58.9%	1.00	0.0003	-0.005	135	0	0.3800		174	49.2%	-0.01	0.0004	-0.007
91.35	94.75		39	55.8%	0.99	0.0004	-0.006	140	0.1200	0.5100	14	620	49.6%	-0.01	0.0005	-0.008
86.35	89.85		46	52.8%	0.99	0.0006	-0.008	145	0.2000	0.5500	25	351	47.9%	-0.01	0.0007	-0.010
81.50	84.60		157	48.2%	0.99	0.0008	-0.011	150	0.1400	0.4100	64	1,655	42.8%	-0.02	0.0008	-0.012
76.55	79.90		169	47.2%	0.98	0.0011	-0.014	155	0.2100	0.5900		630	42.4%	-0.02	0.0011	-0.014
71.70	74.85	1	95	44.2%	0.97	0.0014	-0.018	160	0.3500	0.8900	2	1,182	42.6%	-0.03	0.0014	-0.017
66.95	70.00	1	120	42.9%	0.97	0.0018	-0.021	165	0.3000	1.32	1	320	41.8%	-0.04	0.0017	-0.021
62.20	65.40		250	42.3%	0.95	0.0022	-0.026	170	0.8000	1.09	11	5,033	40.0%	-0.05	0.0022	-0.026
57.60	60.70		388	41.3%	0.94	0.0027	-0.031	175	1.15	1.46	2	917	39.7%	-0.06	0.0027	-0.031
53.05	55.70	1	186	39.1%	0.92	0.0032	-0.036	180	1.45	2.16		1,787	39.7%	-0.08	0.0033	-0.036
48.55	52.10		146	40.5%	0.90	0.0039	-0.042	185	1.96	2.54	2	636	38.8%	-0.10	0.0039	-0.043
44.50	47.20		289	39.1%	0.88	0.0046	-0.049	190	2.61	3.10	34	2,323	38.1%	-0.12	0.0046	-0.050
40.90	42.70	2	188	38.9%	0.85	0.0053	-0.056	195	3.40	4.00	5	622	37.9%	-0.15	0.0054	-0.057
36.40	38.95	34	929	38.0%	0.82	0.0061	-0.063	200	4.35	5.30	61	3,900	38.0%	-0.18	0.0062	-0.064
32.85	35.40		251	38.3%	0.78	0.0068	-0.070	205	5.60	6.10	2	399	37.2%	-0.22	0.0069	-0.071
29.65	31.75	2	348	38.7%	0.74	0.0075	-0.076	210	6.95	7.75	53	1,918	37.3%	-0.26	0.0076	-0.077
25.90	28.25		296	37.4%	0.70	0.0081	-0.081	215	8.35	9.10	4	1,507	36.4%	-0.30	0.0083	-0.083
22.95	24.85	8	1,461	37.0%	0.66	0.0086	-0.086	220	10.25	11.55	53	3,794	37.0%	-0.35	0.0088	-0.088
20.50	22.10	34	625	37.5%	0.61	0.0090	-0.089	225	11.35	14.10	7	1,112	36.2%	-0.39	0.0093	-0.092
17.45	19.25	77	1,484	36.5%	0.57	0.0093	-0.091	230	13.85	16.20	6	4,727	35.9%	-0.44	0.0096	-0.094
15.25	16.85	118	1,603	36.6%	0.52	0.0094	-0.092	235	17.30	18.40	2	506	36.3%	-0.49	0.0098	-0.096
13.40	14.90	33	2,214	37.0%	0.48	0.0095	-0.092	240	20.05	21.85	3	2,765	36.7%	-0.54	0.0098	-0.096
11.55	12.35	39	1,636	36.4%	0.43	0.0094	-0.090	245	23.20	25.10	2	333	36.9%	-0.58	0.0098	-0.094
10.00	11.15	46	2,315	37.0%	0.39	0.0091	-0.088	250	26.50	28.55		2,917	36.9%	-0.63	0.0096	-0.092
8.50	9.45	31	1,102	36.8%	0.35	0.0088	-0.085	255	29.35	32.30		687	36.3%	-0.67	0.0092	-0.089
7.25	7.90	40	8,603	36.6%	0.31	0.0084	-0.081	260	33.65	36.05	19	1,890	37.1%	-0.71	0.0088	-0.085
6.10	6.75	4	482	36.5%	0.27	0.0079	-0.076	265	37.60	39.95		270	37.1%	-0.75	0.0083	-0.080
5.20	5.60	80	2,582	36.4%	0.24	0.0074	-0.071	270	41.55	43.65		973	36.5%	-0.79	0.0078	-0.075
4.35	4.75	17	829	36.5%	0.21	0.0068	-0.066	275	45.40	48.35		126	36.7%	-0.82	0.0072	-0.069
3.55	4.05	170	1,871	36.4%	0.18	0.0063	-0.061	280	49.40	52.80		1,379	36.3%	-0.84	0.0065	-0.063
3.05	4.20		291	38.0%	0.16	0.0057	-0.056	285	53.70	57.25		147	36.0%	-0.87	0.0059	-0.058
2.29	3.45	4	1,917	37.3%	0.14	0.0052	-0.051	290	58.30	61.85		850	36.2%	-0.89	0.0053	-0.052
1.69	2.66		196	36.4%	0.12	0.0047	-0.047	295	62.95	66.50		92	36.3%	-0.91	0.0047	-0.047
1.85	2.15	12	6,233	37.4%	0.11	0.0042	-0.043	300	67.90	71.25	1	2,642	37.3%	-0.92	0.0041	-0.041
1.53	1.83	3	2,128	37.5%	0.09	0.0038	-0.039	305	72.50	75.95		606	36.6%	-0.93	0.0036	-0.037
1.29	1.64	4	2,249	37.9%	0.08	0.0034	-0.035	310	77.15	80.75		1,111	35.9%	-0.95	0.0032	-0.033
0.7400	1.41	1	814	37.0%	0.07	0.0031	-0.032	315	82.20	85.60		117	37.0%	-0.95	0.0028	-0.029
1.01	1.23	1	2,459	38.8%	0.06	0.0028	-0.029	320	87.55	90.45		387	39.7%	-0.96	0.0024	-0.025
0.5600	1.07	11	1,546	39.2%	0.05	0.0022	-0.024	330	97.10	100.30		149	39.2%	-0.97	0.0018	-0.019
0.5500	0.8900		1,677	40.9%	0.04	0.0018	-0.021	340	107.40	110.15		48	43.3%	-0.98	0.0013	-0.015

Strikes shown: within ±50% of the underlying price. Intrinsic value = max(0, price − strike) for calls, max(0, strike − price) for puts; extrinsic = option price − intrinsic. Greeks and IV as computed by the exchange feed.

Volatility smile — Jan 15, 2027

Volatility page →

Implied volatility per strike for this expiration. Out-of-the-money puts usually price higher IV than calls — the skew.

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IBM option chain International Business Machines Corporation

Volatility smile — Jan 15, 2027

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