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: Dec 18, 2026
Days to expiration: 68
Share price: $225.26
Put/call ratio (OI): 1.40
Put/call ratio (volume): 0.07
ATM implied volatility: 39.5%
Expected move: ±$38.43
Open interest (C / P): 3.41K / 4.76K

HWM options summary

The HWM options chain for the December 18, 2026 expiration lists 40 call and 33 put contracts, with 68 days until expiration. Open interest stands at 3,407 calls and 4,760 puts, a put/call ratio of 1.40, which is more bearish, with puts outnumbering calls. At-the-money implied volatility near the $230.00 strike is 39.5%, which implies the market expects a move of about ±$38.43 (17.1%) in Howmet Aerospace stock by expiration.

The most open interest sits at the $300.00 call (552 contracts) and the $280.00 put (1.05K contracts).

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

HWM options chain · December 18, 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
0	1	98.1%	155.60	124.00	127.90	100.00	0.00	1.15	0.91	95.2%	20	20
—	—	—	—	—	—	105.00	0.00	2.30	1.13	101.8%	12	29
—	—	—	—	—	—	110.00	0.00	0.00	1.48	25.0%	2	0
—	—	—	—	—	—	115.00	0.00	2.20	0.75	90.2%	2	11
0	1	—	169.70	0.00	0.00	120.00	0.00	0.00	2.15	25.0%	2	0
0	1	—	133.22	0.00	0.00	125.00	—	—	—	—	—	—
10	10	—	87.55	83.50	88.00	130.00	0.00	0.00	2.10	25.0%	4	0
0	1	—	155.18	0.00	0.00	135.00	0.00	0.00	0.27	25.0%	1	0
3	2	67.4%	93.00	84.40	88.40	140.00	0.00	2.20	0.22	66.9%	10	13
—	—	—	—	—	—	145.00	0.00	0.00	1.50	25.0%	—	0
7	1	60.7%	76.57	74.60	78.50	150.00	0.00	0.75	0.70	54.4%	3	5
5	1	57.6%	111.74	70.10	73.20	155.00	0.20	0.55	0.32	47.8%	1	5
6	4	56.1%	83.65	65.80	68.10	160.00	0.00	1.15	0.62	51.4%	5	38
6	2	51.7%	72.13	60.10	63.70	165.00	0.10	1.45	0.70	50.2%	10	36
0	2	—	138.60	0.00	0.00	170.00	0.00	2.70	1.25	54.8%	10	27
0	1	—	71.20	0.00	0.00	175.00	0.40	3.20	1.25	53.3%	2	7
5	1	53.4%	51.86	46.90	49.40	180.00	0.30	3.40	2.75	49.9%	5	11
14	1	51.5%	47.10	42.40	45.00	185.00	1.10	3.00	2.30	43.7%	1	9
24	1	51.5%	43.00	37.90	41.20	190.00	1.75	3.70	2.85	42.6%	1	39
7	1	48.8%	40.00	34.00	36.80	195.00	3.20	4.80	3.80	42.5%	1	288
31	1	46.4%	29.50	29.30	32.60	200.00	4.20	4.90	4.80	38.2%	6	256
38	7	44.0%	24.55	22.70	25.30	210.00	7.10	7.80	8.30	37.5%	1	141
109	12	42.9%	16.80	17.40	19.30	220.00	10.90	12.10	11.61	37.8%	2	728
HWM $225.26
266	3	40.2%	12.88	11.40	13.60	230.00	15.20	17.80	17.50	38.8%	1	349
119	3	39.2%	9.30	8.20	9.50	240.00	21.00	22.80	22.10	35.3%	1	115
287	6	39.0%	6.30	5.70	6.60	250.00	28.40	30.80	29.80	37.4%	1	311
241	1,095	38.5%	3.90	3.40	4.40	260.00	36.10	38.80	37.10	37.4%	1	319
102	1	38.2%	2.80	1.95	2.85	270.00	44.20	47.60	48.73	38.2%	1	942
421	24	41.7%	1.55	1.35	2.55	280.00	54.00	57.10	57.70	40.8%	1	1,054
187	3	46.2%	0.93	0.40	2.55	290.00	63.20	66.60	62.50	42.5%	1	4
552	11	46.8%	1.00	0.10	1.90	300.00	73.00	77.00	70.10	48.9%	1	0
143	1	46.9%	0.97	0.00	1.35	310.00	82.90	87.10	84.56	53.4%	1	0
76	25	57.1%	0.53	0.00	2.35	320.00	64.30	68.00	69.96	—	—	3
44	2	50.1%	0.42	0.00	0.95	330.00	—	—	—	—	—	—
76	1	54.8%	2.60	0.00	2.25	340.00	—	—	—	—	—	—
140	1	53.8%	0.38	0.00	0.75	350.00	—	—	—	—	—	—
45	158	58.0%	0.58	0.00	1.75	360.00	—	—	—	—	—	—
243	1	66.0%	5.68	0.00	2.80	370.00	—	—	—	—	—	—
118	20	65.5%	0.05	0.00	2.15	380.00	—	—	—	—	—	—
50	31	69.1%	2.65	0.00	2.35	390.00	—	—	—	—	—	—
25	30	60.5%	0.65	0.00	0.80	400.00	—	—	—	—	—	—
0	4	25.0%	0.85	0.00	0.00	410.00	—	—	—	—	—	—
6	3	65.2%	1.31	0.00	0.85	420.00	—	—	—	—	—	—
1	1	77.3%	0.40	0.00	2.15	430.00	0.00	0.00	125.60	—	—	0

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 December 18, 2026 expiration, the HWM put/call ratio based on open interest is 1.40 (4,760 puts vs 3,407 calls), and 0.07 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 December 18, 2026 is about 39.5%, 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.