Howmet Aerospace (HWM) Options Chain

NYSE: HWMIndustrialsMetal FabricationsUSD

225.26+2.70 (+1.21%)

At close: Oct 9, 4:04 PM ET · Delayed 15 min

Expiration date

Expiration: Nov 20, 2026
Days to expiration: 40
Share price: $225.26
Put/call ratio (OI): 11.06
Put/call ratio (volume): 0.64
ATM implied volatility: 40.5%
Expected move: ±$30.17
Open interest (C / P): 801 / 8.86K

HWM options summary

The HWM options chain for the November 20, 2026 expiration lists 17 call and 16 put contracts, with 40 days until expiration. Open interest stands at 801 calls and 8,862 puts, a put/call ratio of 11.06, which is more bearish, with puts outnumbering calls. At-the-money implied volatility near the $230.00 strike is 40.5%, which implies the market expects a move of about ±$30.17 (13.4%) in Howmet Aerospace stock by expiration.

The most open interest sits at the $230.00 call (181 contracts) and the $195.00 put (5.42K contracts).

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

HWM options chain · November 20, 2026

HWM 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
1	—	71.0%	84.80	78.80	82.80	145.00	—	—	—	—	—	—
1	1	67.4%	75.92	73.70	78.00	150.00	0.00	1.15	0.35	67.1%	—	1
—	—	—	—	—	—	160.00	0.00	0.75	0.25	53.7%	—	12
—	—	—	—	—	—	165.00	0.00	0.75	0.75	56.3%	—	3
—	—	—	—	—	—	170.00	0.00	1.45	0.65	51.5%	4	8
35	29	61.7%	52.40	44.50	48.20	180.00	0.15	1.90	0.95	54.2%	10	32
—	—	—	—	—	—	185.00	0.05	2.00	1.38	49.9%	1	14
1	—	56.5%	40.90	36.00	39.20	190.00	1.30	1.55	1.60	41.6%	75	2,616
10	1	53.8%	32.00	31.80	34.80	195.00	1.60	3.40	1.90	48.0%	4	5,415
28	15	49.3%	32.60	27.50	30.10	200.00	2.55	3.10	2.80	40.9%	1	69
16	5	46.5%	21.66	19.90	22.50	210.00	4.80	6.30	6.15	42.9%	1	133
52	8	42.4%	13.50	14.20	15.40	220.00	8.40	9.10	9.80	38.8%	14	44
HWM $225.26
181	13	41.5%	9.49	9.50	10.40	230.00	13.30	14.50	13.50	39.4%	10	418
118	21	41.0%	6.40	5.90	6.70	240.00	18.80	21.70	20.10	41.9%	1	89
41	31	39.7%	3.80	3.50	3.90	250.00	26.00	29.70	26.00	44.1%	1	7
179	7	46.3%	2.15	0.75	3.60	260.00	34.80	38.00	34.85	44.7%	—	1
45	1	40.4%	2.05	0.00	1.40	270.00	—	—	—	—	—	—
10	15	44.5%	0.70	0.05	1.20	280.00	53.60	56.70	56.00	50.3%	5	0
41	15	45.0%	1.00	0.00	0.75	290.00	—	—	—	—	—	—
23	19	56.1%	0.40	0.00	1.35	300.00	—	—	—	—	—	—
19	19	62.7%	0.28	0.00	2.20	320.00	—	—	—	—	—	—

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 HWM put/call ratio?

For the November 20, 2026 expiration, the HWM put/call ratio based on open interest is 11.06 (8,862 puts vs 801 calls), and 0.64 based on today's volume. A ratio above 1 means more puts than calls.

What is HWM's implied volatility?

At-the-money implied volatility for HWM options expiring November 20, 2026 is about 40.5%, an annualized estimate of how much the market expects Howmet Aerospace stock to move.

How many HWM option expiration dates are there?

HWM 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.