International Business Machines (IBM) Options Chain

NYSE: IBMTechnologyComputer ManufacturingUSD

227.13+0.52 (+0.23%)

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

Expiration date

Expiration: Feb 19, 2027
Days to expiration: 131
Share price: $227.13
Put/call ratio (OI): 1.33
Put/call ratio (volume): 1.00
ATM implied volatility: 39.9%
Expected move: ±$54.28
Open interest (C / P): 3.22K / 4.27K

IBM options summary

The IBM options chain for the February 19, 2027 expiration lists 42 call and 39 put contracts, with 131 days until expiration. Open interest stands at 3,221 calls and 4,273 puts, a put/call ratio of 1.33, which is more bearish, with puts outnumbering calls. At-the-money implied volatility near the $225.00 strike is 39.9%, which implies the market expects a move of about ±$54.28 (23.9%) in International Business Machines stock by expiration.

The most open interest sits at the $225.00 call (481 contracts) and the $200.00 put (619 contracts).

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

IBM options chain · February 19, 2027

IBM 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
—	—	—	—	—	—	110.00	0.01	1.56	0.22	65.4%	4	54
1	1	98.7%	89.05	116.25	119.65	115.00	0.05	1.30	0.24	60.2%	2	17
1	—	107.3%	105.45	114.40	117.40	120.00	0.15	1.14	0.50	56.5%	10	49
—	—	—	—	—	—	125.00	0.00	1.48	0.51	54.5%	1	50
1	—	98.8%	95.15	105.10	107.75	130.00	0.00	1.00	0.36	54.4%	1	3
—	—	—	—	—	—	135.00	0.00	1.32	0.86	54.1%	1	7
—	—	—	—	—	—	140.00	0.01	1.51	0.97	52.4%	2	40
—	—	—	—	—	—	145.00	0.45	1.17	1.00	46.6%	2	99
1	2	51.8%	78.90	76.70	79.55	150.00	0.62	1.54	1.26	46.4%	4	56
—	—	—	—	—	—	155.00	1.13	1.90	1.64	45.6%	2	24
0	1	—	79.65	0.00	0.00	160.00	1.50	1.85	1.92	42.3%	2	89
2	5	68.8%	56.50	70.70	73.50	165.00	1.72	2.50	2.62	42.6%	4	74
2	1	46.6%	72.48	58.50	61.40	170.00	2.25	2.94	3.23	41.4%	5	91
9	16	64.4%	45.95	62.00	65.10	175.00	3.20	3.60	3.71	40.8%	1	446
21	1	44.6%	48.20	50.40	52.90	180.00	3.20	5.25	5.21	43.1%	1	97
19	1	43.6%	46.00	46.20	48.75	185.00	4.80	5.45	6.15	40.2%	1	263
14	1	43.5%	58.13	42.05	45.10	190.00	6.05	6.55	6.20	39.8%	6	290
40	2	42.8%	53.42	38.80	41.35	195.00	7.30	7.85	8.80	39.5%	4	312
87	1	42.5%	36.50	35.35	37.90	200.00	8.70	9.50	9.80	39.6%	5	619
31	5	41.9%	38.50	32.05	34.50	205.00	10.40	11.30	12.87	39.7%	5	179
69	1	41.6%	30.50	30.20	31.40	210.00	12.05	13.20	12.84	39.5%	34	245
92	2	41.0%	25.20	25.95	28.30	215.00	14.35	15.20	18.02	39.1%	1	140
83	4	40.2%	24.60	23.70	25.25	220.00	16.60	17.55	16.97	39.1%	24	286
481	12	40.7%	22.20	20.45	23.10	225.00	18.85	20.10	19.88	39.1%	1	208
IBM $227.13
174	2	40.4%	19.30	18.95	20.70	230.00	21.50	22.75	21.95	38.9%	10	210
166	2	39.6%	19.65	16.50	18.20	235.00	24.30	26.30	22.60	40.0%	4	109
139	6	39.8%	16.05	15.00	16.40	240.00	27.50	29.00	32.70	39.3%	21	83
59	10	39.3%	12.80	12.35	14.40	245.00	30.45	32.40	33.00	39.6%	2	26
185	9	39.5%	12.31	12.00	12.90	250.00	33.35	35.80	35.27	39.5%	1	60
36	2	39.5%	9.19	9.95	11.50	255.00	37.30	39.40	27.65	39.6%	2	14
123	1	39.3%	7.70	8.85	10.10	260.00	41.10	43.30	45.72	40.0%	1	17
48	1	39.4%	6.85	7.10	9.00	265.00	45.10	47.05	38.74	39.8%	—	2
122	6	40.0%	6.95	6.95	8.20	270.00	48.85	51.40	36.85	40.7%	—	1
57	1	39.3%	6.60	6.25	6.95	275.00	—	—	—	—	—	—
144	21	39.7%	4.50	4.50	6.30	280.00	57.05	59.70	55.90	41.0%	1	6
92	1	39.4%	4.60	4.95	5.40	285.00	61.40	64.05	59.80	41.4%	—	1
91	1	39.8%	4.84	4.20	4.90	290.00	63.70	66.00	86.90	34.6%	—	1
57	2	40.4%	3.50	2.95	4.50	295.00	—	—	—	—	—	—
131	1	39.9%	3.75	3.40	3.80	300.00	—	—	—	—	—	—
185	2	40.1%	6.88	2.74	3.40	305.00	—	—	—	—	—	—
58	1	41.0%	2.55	2.51	3.20	310.00	—	—	—	—	—	—
52	17	40.4%	2.38	2.00	2.66	315.00	—	—	—	—	—	—
129	10	41.1%	2.10	1.88	2.51	320.00	—	—	—	—	—	—
0	1	12.5%	7.75	0.00	0.00	325.00	98.35	101.45	95.90	46.6%	—	1
59	1	40.9%	2.15	1.49	1.87	330.00	103.00	106.30	97.58	47.4%	—	3
38	1	42.5%	1.65	1.31	1.97	335.00	108.15	111.15	97.96	48.1%	1	1
21	1	42.8%	1.45	1.28	1.79	340.00	—	—	—	—	—	—
101	10	42.6%	1.11	0.89	1.36	350.00	—	—	—	—	—	—

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 IBM put/call ratio?

For the February 19, 2027 expiration, the IBM put/call ratio based on open interest is 1.33 (4,273 puts vs 3,221 calls), and 1.00 based on today's volume. A ratio above 1 means more puts than calls.

What is IBM's implied volatility?

At-the-money implied volatility for IBM options expiring February 19, 2027 is about 39.9%, an annualized estimate of how much the market expects International Business Machines stock to move.

How many IBM option expiration dates are there?

IBM has 18 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.