Fermi (FRMI) Options Chain

NASDAQ: FRMIReal EstateReal Estate Investment TrustsUSD

3.43-0.23 (-6.28%)

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

Expiration date

Expiration: Nov 20, 2026
Days to expiration: 40
Share price: $3.43
Put/call ratio (OI): 0.16
Put/call ratio (volume): 0.10
ATM implied volatility: 112.9%
Expected move: ±$1.28
Open interest (C / P): 149.45K / 23.59K

FRMI options summary

The FRMI options chain for the November 20, 2026 expiration lists 20 call and 18 put contracts, with 40 days until expiration. Open interest stands at 149,454 calls and 23,595 puts, a put/call ratio of 0.16, which is tilted bullish, with calls outnumbering puts. At-the-money implied volatility near the $3.00 strike is 112.9%, which implies the market expects a move of about ±$1.28 (37.4%) in Fermi stock by expiration.

The most open interest sits at the $15.00 call (46.38K contracts) and the $6.00 put (8.63K contracts).

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

FRMI options chain · November 20, 2026

FRMI 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
205	4	250.0%	2.50	2.35	2.60	1.00	0.00	0.25	0.05	331.3%	—	1
172	13	150.8%	2.10	1.40	1.65	2.00	0.00	0.05	0.03	104.7%	1	36
259	229	125.0%	0.73	0.60	0.95	3.00	0.20	0.30	0.23	100.8%	95	2,943
FRMI $3.43
1,833	493	109.0%	0.32	0.25	0.35	4.00	0.75	0.90	0.78	98.8%	125	3,721
5,595	1,320	118.8%	0.16	0.10	0.20	5.00	1.60	1.75	1.64	105.1%	13	3,070
11,978	108	123.4%	0.09	0.05	0.10	6.00	2.50	2.70	2.53	100.0%	4	8,632
6,186	114	132.8%	0.07	0.00	0.10	7.00	3.40	3.70	3.59	168.0%	18	1,018
7,144	108	132.8%	0.05	0.00	0.05	8.00	4.20	4.70	3.62	187.5%	1	2,671
2,648	10	146.9%	0.04	0.00	0.05	9.00	5.20	5.70	4.93	203.9%	2	622
24,490	1	159.4%	0.05	0.00	0.05	10.00	6.30	6.70	6.14	218.0%	1	697
3,738	80	190.6%	0.03	0.00	0.10	11.00	0.00	0.00	5.53	—	10	0
7,918	3	178.1%	0.03	0.00	0.05	12.00	8.30	8.70	6.92	242.2%	1	122
584	7	187.5%	0.10	0.00	0.05	13.00	9.10	9.70	7.86	252.3%	2	52
2,983	2	196.9%	0.05	0.00	0.05	14.00	10.10	10.70	8.43	261.7%	8	10
46,375	1	268.0%	0.03	0.00	0.25	15.00	0.00	0.00	7.90	—	3	0
1,143	1	250.0%	0.04	0.00	0.15	16.00	12.10	12.80	11.70	315.6%	2	0
280	97	282.8%	0.71	0.05	0.20	17.00	—	—	—	—	—	—
4,063	344	245.3%	0.05	0.00	0.10	18.00	14.10	14.70	13.15	292.2%	2	0
0	3	50.0%	0.20	0.00	0.00	19.00	0.00	0.00	12.15	—	2	0
21,860	2	257.8%	0.05	0.00	0.10	20.00	—	—	—	—	—	—

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 FRMI put/call ratio?

For the November 20, 2026 expiration, the FRMI put/call ratio based on open interest is 0.16 (23,595 puts vs 149,454 calls), and 0.10 based on today's volume. A ratio above 1 means more puts than calls.

What is FRMI's implied volatility?

At-the-money implied volatility for FRMI options expiring November 20, 2026 is about 112.9%, an annualized estimate of how much the market expects Fermi stock to move.

How many FRMI option expiration dates are there?

FRMI has 15 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.