IBM option chain International Business Machines Corporation

Expiration Cboe delayed options data · as of 15:38 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 ±32.5% (161.79–317.44) · ATM IV 37.8% · 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
121.00	124.50		7	47.3%	0.96	0.0008	0.000	120	1.88	2.55		68	42.8%	-0.04	0.0008	-0.010
116.70	119.85		16	46.1%	0.96	0.0009	0.000	125	2.18	2.82	8	88	41.8%	-0.05	0.0009	-0.011
112.00	115.50		5	44.6%	0.95	0.0010	0.000	130	2.77	3.30		47	41.7%	-0.06	0.0010	-0.013
108.00	111.50		23	44.6%	0.94	0.0011	-0.001	135	2.91	3.90		120	40.8%	-0.06	0.0012	-0.014
103.80	107.50		29	44.0%	0.93	0.0013	-0.003	140	4.00	4.30		1,143	40.9%	-0.07	0.0013	-0.015
99.05	103.50		36	42.7%	0.92	0.0014	-0.005	145	4.30	5.35		177	40.6%	-0.08	0.0015	-0.017
95.20	99.50		93	42.4%	0.91	0.0016	-0.007	150	5.20	5.70		1,030	40.0%	-0.09	0.0016	-0.018
91.80	95.50		63	42.4%	0.90	0.0017	-0.009	155	5.80	6.70		65	39.7%	-0.11	0.0018	-0.020
87.90	91.25		119	41.4%	0.89	0.0019	-0.011	160	6.90	7.55		662	39.6%	-0.12	0.0019	-0.021
83.70	88.00		47	41.1%	0.87	0.0021	-0.013	165	7.60	8.70		316	39.2%	-0.13	0.0021	-0.023
80.10	84.50		42	40.9%	0.86	0.0022	-0.015	170	8.45	9.60		655	38.6%	-0.15	0.0023	-0.025
77.15	80.50		34	40.6%	0.84	0.0024	-0.017	175	10.05	10.80		519	38.8%	-0.16	0.0024	-0.026
73.85	77.50		64	40.8%	0.83	0.0025	-0.019	180	11.30	12.10		1,182	38.6%	-0.18	0.0026	-0.028
70.40	74.00		88	40.3%	0.81	0.0027	-0.021	185	12.80	13.45		580	38.4%	-0.19	0.0028	-0.029
67.00	69.80	2	309	39.3%	0.80	0.0028	-0.023	190	14.15	15.00		1,041	38.2%	-0.21	0.0029	-0.030
64.05	67.35		92	39.6%	0.78	0.0030	-0.025	195	15.85	16.55	1	357	38.1%	-0.23	0.0031	-0.032
61.55	62.60	5	416	38.7%	0.76	0.0031	-0.027	200	17.50	18.35	6	1,567	37.9%	-0.25	0.0032	-0.033
58.00	60.55	1	47	38.7%	0.74	0.0033	-0.028	205	19.35	20.35		160	37.9%	-0.27	0.0034	-0.034
55.30	57.80	3	116	38.6%	0.72	0.0034	-0.030	210	20.95	22.30		401	37.6%	-0.29	0.0035	-0.035
52.80	55.05	1	33	38.6%	0.71	0.0035	-0.031	215	23.30	24.15		116	37.6%	-0.31	0.0036	-0.036
49.50	52.25	1	473	38.0%	0.69	0.0036	-0.032	220	25.80	26.70		2,770	37.9%	-0.33	0.0038	-0.037
47.85	49.90		35	38.4%	0.67	0.0037	-0.033	225	28.05	28.85		114	37.7%	-0.34	0.0039	-0.037
44.50	47.90	1	556	38.0%	0.65	0.0038	-0.034	230	30.45	31.15		1,565	37.5%	-0.37	0.0040	-0.038
43.30	45.65	1	81	38.5%	0.63	0.0039	-0.035	235	33.05	33.60		46	37.5%	-0.39	0.0041	-0.039
41.10	42.80		302	38.1%	0.61	0.0039	-0.036	240	35.35	36.40		353	37.4%	-0.41	0.0042	-0.039
38.70	40.75		153	37.9%	0.59	0.0040	-0.037	245	37.95	39.15		17	37.3%	-0.43	0.0042	-0.039
37.15	37.75	10	859	37.6%	0.57	0.0040	-0.037	250	40.50	41.75	70	262	37.0%	-0.45	0.0043	-0.040
35.20	35.85		252	37.5%	0.55	0.0041	-0.038	255	43.45	44.75		19	37.0%	-0.47	0.0044	-0.040
33.20	33.95	8	1,701	37.4%	0.54	0.0041	-0.038	260	46.45	47.70		803	36.9%	-0.49	0.0044	-0.040
31.65	32.20		38	37.5%	0.52	0.0041	-0.038	265	49.50	50.85		31	36.9%	-0.51	0.0044	-0.040
29.95	30.50		384	37.3%	0.50	0.0041	-0.039	270	52.65	54.10		1,868	36.9%	-0.53	0.0045	-0.040
28.35	29.05		68	37.2%	0.48	0.0041	-0.039	275	55.65	57.30		19	36.6%	-0.55	0.0045	-0.039
26.85	27.35	8	516	37.2%	0.47	0.0041	-0.039	280	59.35	61.35		215	37.1%	-0.57	0.0045	-0.039
25.40	25.85		40	37.1%	0.45	0.0041	-0.039	285	61.90	64.35		17	36.4%	-0.59	0.0045	-0.038
23.75	25.55		240	37.5%	0.43	0.0041	-0.038	290	65.35	67.90		122	36.3%	-0.60	0.0045	-0.038
22.65	23.45		37	37.1%	0.42	0.0040	-0.038	295	69.70	71.45			36.6%	-0.62	0.0045	-0.037
21.45	22.25	17	6,883	37.1%	0.40	0.0040	-0.038	300	72.60	75.20		1,188	36.2%	-0.64	0.0045	-0.037
20.05	21.30		104	37.1%	0.38	0.0040	-0.038	305	77.25	78.95		27	36.6%	-0.66	0.0045	-0.036
19.15	19.80	2	4,546	37.0%	0.37	0.0039	-0.037	310	80.55	82.90		65	36.3%	-0.68	0.0045	-0.036
18.10	19.10		90	37.1%	0.35	0.0039	-0.037	315	84.90	86.85		10	36.5%	-0.69	0.0045	-0.035
17.10	17.85	9	323	37.0%	0.34	0.0038	-0.036	320	88.40	91.35		170	36.5%	-0.71	0.0045	-0.035
16.10	17.35		177	37.2%	0.33	0.0038	-0.036	325	93.00	95.05			36.6%	-0.73	0.0045	-0.034
15.25	16.05		244	37.0%	0.31	0.0037	-0.035	330	96.35	99.25		14	36.2%	-0.75	0.0045	-0.033
14.25	15.05	2	96	36.8%	0.30	0.0036	-0.035	335	101.30	103.45			36.7%	-0.76	0.0045	-0.033
13.60	14.65	31	182	37.1%	0.29	0.0036	-0.034	340	105.75	107.70		136	36.8%	-0.78	0.0044	-0.032
12.25	13.10	18	923	37.1%	0.27	0.0034	-0.033	350	114.20	117.05		381	37.2%	-0.81	0.0044	-0.031

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 21, 2028

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 21, 2028

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