Diamondback Energy (FANG) Options Chain

NASDAQ: FANGEnergyOil & Gas ProductionUSD

192.13+0.45 (+0.23%)

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

Expiration date

Expiration: Jan 21, 2028
Days to expiration: 468
Share price: $192.13
Put/call ratio (OI): 0.58
Put/call ratio (volume): 2.85
ATM implied volatility: 37.3%
Expected move: ±$81.17
Open interest (C / P): 7.50K / 4.33K

FANG options summary

The FANG options chain for the January 21, 2028 expiration lists 35 call and 33 put contracts, with 468 days until expiration. Open interest stands at 7,499 calls and 4,328 puts, a put/call ratio of 0.58, which is tilted bullish, with calls outnumbering puts. At-the-money implied volatility near the $190.00 strike is 37.3%, which implies the market expects a move of about ±$81.17 (42.2%) in Diamondback Energy stock by expiration.

The most open interest sits at the $200.00 call (2.28K contracts) and the $165.00 put (890 contracts).

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

FANG options chain · January 21, 2028

FANG 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
3	1	—	113.30	108.50	113.00	70.00	0.00	0.00	0.80	12.5%	20	0
—	—	—	—	—	—	75.00	0.00	3.30	1.45	52.3%	15	30
3	2	92.0%	106.12	123.50	127.50	80.00	0.70	3.70	2.00	52.3%	6	9
—	—	—	—	—	—	85.00	0.15	3.50	1.75	55.2%	6	9
—	—	—	—	—	—	90.00	0.00	0.00	2.64	12.5%	8	0
0	—	—	82.55	0.00	0.00	95.00	3.00	7.00	7.20	54.1%	94	95
0	3	—	87.83	0.00	0.00	100.00	0.00	0.00	5.00	12.5%	1	0
9	1	76.7%	86.15	102.00	106.00	105.00	0.50	4.30	3.30	45.6%	2	5
2	1	49.9%	97.91	84.50	89.00	110.00	4.50	9.50	7.20	50.3%	1	1
2	2	—	75.40	71.50	76.00	115.00	12.00	15.50	14.11	62.1%	1	1
0	2	70.3%	75.08	90.00	94.00	120.00	4.00	9.00	7.50	48.8%	1	75
7	1	69.1%	71.43	86.50	90.50	125.00	5.90	9.50	8.50	46.8%	4	13
4	2	58.0%	84.10	77.50	81.20	130.00	—	—	7.60	—	—	—
1	—	—	33.25	49.00	53.00	135.00	5.00	8.80	6.59	39.7%	10	850
16	2	53.6%	60.20	68.50	73.00	140.00	0.00	0.00	9.80	6.3%	5	0
239	2	44.4%	53.62	58.10	62.00	145.00	7.90	11.40	10.30	38.7%	1	111
15	1	51.5%	63.20	61.50	66.00	150.00	8.50	12.50	10.93	37.7%	42	46
1	1	30.2%	29.00	43.50	46.60	155.00	10.00	14.50	11.90	37.9%	1	293
0	1	—	61.25	0.00	0.00	160.00	11.50	15.70	16.30	36.8%	80	356
0	1	—	63.00	0.00	0.00	165.00	13.20	18.00	18.50	37.0%	141	890
47	1	41.0%	39.00	41.50	45.50	170.00	15.00	19.10	20.67	35.5%	95	299
24	1	41.7%	37.15	39.70	43.50	175.00	17.20	22.00	22.73	36.2%	141	190
17	1	41.4%	41.60	36.50	40.90	180.00	19.50	24.00	20.70	35.5%	7	86
319	1	41.2%	31.30	34.00	38.50	185.00	0.00	0.00	25.90	0.8%	8	0
22	1	40.8%	31.30	31.50	36.00	190.00	24.00	28.00	28.87	33.9%	1	76
FANG $192.13
39	1	40.8%	29.00	29.00	34.00	195.00	26.50	31.00	28.82	34.0%	2	0
2,278	4	39.6%	28.20	27.00	31.00	200.00	29.50	34.00	35.45	34.0%	500	537
117	1	40.2%	25.50	23.00	28.00	210.00	35.00	40.00	37.60	33.5%	1	24
786	1	39.8%	30.41	19.50	24.50	220.00	41.60	44.60	43.85	30.8%	4	332
562	1	38.6%	18.90	16.50	20.60	230.00	0.00	0.00	48.20	—	3	0
407	50	38.0%	14.40	15.00	17.60	240.00	0.00	0.00	50.40	—	12	0
462	142	38.2%	14.30	12.30	15.60	250.00	0.00	0.00	56.14	—	—	0
933	80	38.1%	10.50	10.40	13.60	260.00	0.00	0.00	67.00	—	3	0
347	1	38.2%	13.20	8.60	12.00	270.00	—	—	—	—	—	—
0	9	6.3%	18.00	0.00	0.00	280.00	—	—	—	—	—	—
188	100	39.4%	11.25	5.20	10.00	290.00	—	—	—	—	—	—
625	1	38.4%	8.75	4.40	8.20	300.00	—	—	—	—	—	—
24	7	37.4%	5.50	3.90	6.60	310.00	—	—	—	—	—	—

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 FANG put/call ratio?

For the January 21, 2028 expiration, the FANG put/call ratio based on open interest is 0.58 (4,328 puts vs 7,499 calls), and 2.85 based on today's volume. A ratio above 1 means more puts than calls.

What is FANG's implied volatility?

At-the-money implied volatility for FANG options expiring January 21, 2028 is about 37.3%, an annualized estimate of how much the market expects Diamondback Energy stock to move.

How many FANG option expiration dates are there?

FANG 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.