Alaska Air Group (ALK) Options Chain

NYSE: ALKConsumer DiscretionaryAir Freight/Delivery ServicesUSD

39.36-0.16 (-0.40%)

At close: Oct 9, 4:00 PM ET · Delayed 15 min

Expiration date

Expiration: Jan 21, 2028
Days to expiration: 468
Share price: $39.36
Put/call ratio (OI): 0.26
Put/call ratio (volume): 0.13
ATM implied volatility: 51.0%
Expected move: ±$22.73
Open interest (C / P): 6.53K / 1.68K

ALK options summary

The ALK options chain for the January 21, 2028 expiration lists 27 call and 23 put contracts, with 468 days until expiration. Open interest stands at 6,533 calls and 1,683 puts, a put/call ratio of 0.26, which is tilted bullish, with calls outnumbering puts. At-the-money implied volatility near the $40.00 strike is 51.0%, which implies the market expects a move of about ±$22.73 (57.8%) in Alaska Air Group stock by expiration.

The most open interest sits at the $50.00 call (2.89K contracts) and the $35.00 put (315 contracts).

Summary generated from market data by MetaCap's automated system. Methodology

ALK options chain · January 21, 2028

ALK calls and puts by strike price. Shaded cells are in the money.
Calls							Puts
OI	Vol	IV	Last	Bid	Ask	Strike	Bid	Ask	Last	IV	Vol	OI
93	24	75.6%	21.48	21.20	23.10	20.00	0.95	1.40	1.20	54.7%	1	52
82	2	64.1%	23.00	18.70	20.30	22.50	0.45	1.90	1.71	56.0%	11	18
87	1	64.8%	18.00	15.50	20.50	25.00	1.75	2.50	2.00	50.4%	20	172
11	2	61.0%	16.12	15.40	16.80	27.50	2.35	3.10	2.55	51.6%	10	23
104	10	59.6%	14.00	13.80	15.30	30.00	3.10	3.90	3.45	50.0%	10	76
7	1	58.3%	14.50	12.50	13.70	32.50	4.40	4.90	4.65	49.1%	1	146
65	1	57.0%	11.80	11.20	12.30	35.00	5.00	6.00	5.80	48.2%	1	315
55	1	56.7%	10.55	10.00	11.30	37.50	6.20	7.20	7.04	47.2%	1	159
ALK $39.36
653	1	55.9%	9.20	9.00	10.10	40.00	7.50	8.50	8.65	46.1%	1	213
44	5	55.1%	8.90	8.00	9.10	42.50	8.90	10.00	10.10	45.6%	2	187
68	1	55.1%	7.57	7.20	8.30	45.00	10.70	11.70	11.06	45.6%	3	37
23	3	90.4%	8.87	11.60	14.80	47.50	12.20	13.20	12.95	44.0%	1	62
2,894	301	54.0%	6.30	5.70	6.70	50.00	13.90	15.30	14.03	45.3%	2	161
43	10	57.0%	7.23	4.30	8.00	52.50	14.10	19.00	17.04	55.4%	—	29
71	20	53.4%	5.30	3.50	6.50	55.00	16.00	19.80	18.15	48.5%	7	12
136	100	59.0%	4.60	4.30	6.70	57.50	—	—	—	—	—	—
263	10	52.4%	4.04	3.60	4.30	60.00	0.00	0.00	22.20	—	2	0
10	1	52.5%	4.50	3.30	3.90	62.50	24.30	25.50	25.22	44.4%	—	1
831	5	53.2%	3.50	2.15	4.60	65.00	0.00	0.00	17.82	—	—	0
0	6	12.5%	7.10	0.00	0.00	67.50	28.60	29.90	28.11	43.8%	1	4
434	10	52.4%	2.74	2.40	2.95	70.00	0.00	0.00	30.02	—	1	0
46	15	52.9%	2.83	2.10	2.90	72.50	32.40	33.90	32.35	37.7%	1	14
74	1	57.6%	3.20	2.05	3.80	75.00	—	—	—	—	—	—
146	50	52.9%	2.08	1.70	2.10	80.00	38.40	39.70	32.50	—	—	1
75	6	58.7%	2.80	1.15	3.40	85.00	—	—	—	—	—	—
103	1	60.1%	5.36	1.75	2.50	90.00	—	—	—	—	—	—
115	2	54.9%	1.26	0.05	1.30	95.00	52.30	54.40	50.90	—	1	1

In-the-money callsIn-the-money puts. IV = implied volatility, OI = open interest (contracts). Each contract covers 100 shares. Quotes delayed at least 15 minutes.

Frequently asked questions

What is the ALK put/call ratio?

For the January 21, 2028 expiration, the ALK put/call ratio based on open interest is 0.26 (1,683 puts vs 6,533 calls), and 0.13 based on today's volume. A ratio above 1 means more puts than calls.

What is ALK's implied volatility?

At-the-money implied volatility for ALK options expiring January 21, 2028 is about 51.0%, an annualized estimate of how much the market expects Alaska Air Group stock to move.

How many ALK option expiration dates are there?

ALK has 11 listed expiration dates, from Oct 16, 2026 to Jan 19, 2029.

What does "in the money" mean?

A call is in the money when the strike price is below the current share price; a put is in the money when the strike is above it. In-the-money contracts have intrinsic value and are shaded in the table.