Biogen (BIIB) Options Chain

NASDAQ: BIIBHealth CareBiotechnology: Biological Products (No Diagnostic Substances)USD

225.71+7.28 (+3.33%)

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

Expiration date

Expiration: Jan 21, 2028
Days to expiration: 467
Share price: $225.71
Put/call ratio (OI): 0.41
Put/call ratio (volume): 1.48
ATM implied volatility: 38.7%
Expected move: ±$98.73
Open interest (C / P): 3.19K / 1.30K

BIIB options summary

The BIIB options chain for the January 21, 2028 expiration lists 33 call and 30 put contracts, with 467 days until expiration. Open interest stands at 3,187 calls and 1,298 puts, a put/call ratio of 0.41, which is tilted bullish, with calls outnumbering puts. At-the-money implied volatility near the $230.00 strike is 38.7%, which implies the market expects a move of about ±$98.73 (43.7%) in Biogen stock by expiration.

The most open interest sits at the $150.00 call (2.10K contracts) and the $190.00 put (464 contracts).

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

BIIB options chain · January 21, 2028

BIIB 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
2	2	—	134.87	135.50	139.50	70.00	0.00	0.00	1.77	25.0%	4	0
—	—	—	—	—	—	75.00	1.50	6.00	4.14	70.5%	—	15
—	—	—	—	—	—	80.00	1.00	6.00	4.15	65.5%	1	2
—	—	—	—	—	—	85.00	3.00	7.50	5.38	69.2%	—	25
1	1	—	104.80	102.00	105.10	90.00	0.00	0.00	1.00	12.5%	3	0
—	—	—	—	—	—	95.00	5.00	9.50	5.15	68.7%	10	73
15	1	54.0%	120.27	125.00	129.50	100.00	0.50	5.50	2.58	50.9%	1	2
—	—	—	—	—	—	105.00	0.00	5.00	1.91	55.3%	1	5
5	1	64.0%	122.10	122.50	127.50	110.00	0.50	5.50	3.40	54.0%	4	31
—	—	—	—	—	—	115.00	0.80	4.10	3.80	47.0%	1	2
5	1	—	88.00	85.50	90.50	120.00	0.50	4.40	3.00	45.5%	1	16
2	1	51.6%	81.67	104.00	108.50	125.00	9.00	13.50	13.33	59.1%	—	1
6	1	58.2%	101.00	105.50	110.50	130.00	6.00	11.00	9.70	50.5%	1	2
3	1	50.5%	74.53	96.50	100.50	135.00	12.00	14.90	17.28	57.4%	—	1
30	26	55.5%	94.00	97.50	102.00	140.00	0.00	0.00	10.17	6.3%	7	0
5	1	—	72.75	55.50	60.00	145.00	10.00	14.50	14.20	53.5%	1	6
2,097	1	53.5%	83.00	89.50	94.40	150.00	4.00	8.30	7.77	40.2%	3	28
12	16	—	68.52	64.50	69.00	155.00	5.00	9.30	9.55	39.6%	1	2
3	1	51.4%	85.55	82.00	86.50	160.00	0.00	0.00	13.28	6.3%	—	0
12	1	50.8%	72.29	78.50	83.00	165.00	7.20	12.00	11.50	39.3%	60	109
0	1	—	57.00	0.00	0.00	170.00	0.00	0.00	13.50	6.3%	2	0
22	1	49.0%	68.84	69.00	73.50	175.00	20.50	25.00	23.80	51.8%	—	34
8	1	51.2%	70.69	68.00	72.50	180.00	0.00	0.00	17.90	3.1%	2	0
17	2	47.2%	63.22	62.50	66.50	185.00	0.00	0.00	21.00	3.1%	10	0
19	1	49.7%	65.53	61.00	66.00	190.00	14.00	19.00	18.70	36.5%	3	464
384	1	49.1%	60.19	58.00	63.00	195.00	0.00	0.00	25.00	3.1%	4	0
55	3	48.5%	54.80	55.00	60.00	200.00	17.50	22.50	23.50	35.5%	1	210
7	4	47.0%	53.92	49.00	54.00	210.00	—	—	—	—	—	—
29	1	45.8%	44.23	44.00	48.50	220.00	25.50	30.50	32.30	33.3%	1	269
BIIB $225.71
22	1	44.8%	38.60	39.00	43.50	230.00	30.50	35.50	35.32	32.6%	2	1
11	1	44.0%	32.60	34.00	39.00	240.00	—	—	—	—	—	—
287	1	42.9%	33.05	30.00	34.50	250.00	—	—	—	—	—	—
15	3	42.5%	26.50	26.00	31.00	260.00	—	—	—	—	—	—
15	1	41.9%	23.67	22.50	27.50	270.00	0.00	0.00	63.00	—	—	0
30	4	40.9%	23.88	19.00	24.00	280.00	—	—	—	—	—	—
55	1	40.7%	18.02	16.50	21.50	290.00	—	—	—	—	—	—
3	—	39.6%	15.40	11.50	16.50	310.00	—	—	—	—	—	—
6	2	39.8%	11.00	10.00	15.00	320.00	—	—	—	—	—	—
4	—	39.2%	11.90	8.00	13.00	330.00	—	—	—	—	—	—

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 BIIB put/call ratio?

For the January 21, 2028 expiration, the BIIB put/call ratio based on open interest is 0.41 (1,298 puts vs 3,187 calls), and 1.48 based on today's volume. A ratio above 1 means more puts than calls.

What is BIIB's implied volatility?

At-the-money implied volatility for BIIB options expiring January 21, 2028 is about 38.7%, an annualized estimate of how much the market expects Biogen stock to move.

How many BIIB option expiration dates are there?

BIIB has 14 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.