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: Apr 16, 2027
Days to expiration: 187
Share price: $227.13
Put/call ratio (OI): 1.64
Put/call ratio (volume): 1.04
ATM implied volatility: 38.2%
Expected move: ±$62.07
Open interest (C / P): 1.29K / 2.12K

IBM options summary

The IBM options chain for the April 16, 2027 expiration lists 35 call and 30 put contracts, with 187 days until expiration. Open interest stands at 1,291 calls and 2,121 puts, a put/call ratio of 1.64, which is more bearish, with puts outnumbering calls. At-the-money implied volatility near the $225.00 strike is 38.2%, which implies the market expects a move of about ±$62.07 (27.3%) in International Business Machines stock by expiration.

The most open interest sits at the $280.00 call (181 contracts) and the $165.00 put (566 contracts).

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

IBM options chain · April 16, 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
—	—	—	—	—	—	125.00	0.37	0.52	0.54	43.0%	10	15
—	—	—	—	—	—	130.00	0.00	1.22	0.91	47.4%	—	2
—	—	—	—	—	—	135.00	0.00	2.13	1.08	50.5%	—	20
—	—	—	—	—	—	140.00	0.00	2.22	1.34	48.1%	20	33
—	—	—	—	—	—	145.00	0.62	2.16	1.79	44.9%	1	4
—	—	—	—	—	—	150.00	1.50	2.05	1.89	41.6%	2	18
—	—	—	—	—	—	155.00	2.04	2.52	2.56	41.1%	3	5
—	—	—	—	—	—	160.00	2.42	2.88	2.95	39.8%	8	34
—	—	—	—	—	—	165.00	3.15	3.45	3.40	39.2%	9	566
—	—	—	—	—	—	170.00	3.65	5.20	5.25	41.8%	5	50
1	—	43.5%	53.74	56.40	59.10	175.00	4.60	5.30	5.75	39.1%	1	136
—	—	—	49.50	—	—	180.00	5.65	6.25	7.37	38.6%	5	65
10	10	42.5%	44.79	48.95	51.45	185.00	5.70	7.35	7.30	38.2%	5	488
44	20	42.1%	43.15	44.95	47.80	190.00	7.85	8.85	8.55	38.3%	23	68
—	—	—	—	—	—	195.00	8.95	10.30	10.75	38.0%	3	132
22	1	41.0%	37.20	38.35	40.85	200.00	10.95	11.95	12.35	37.8%	5	82
33	—	40.9%	39.10	35.30	37.80	205.00	12.70	13.70	13.35	37.5%	5	40
6	1	41.0%	31.47	32.25	35.05	210.00	14.50	16.00	15.39	37.8%	10	127
3	1	40.7%	26.49	29.50	32.20	215.00	16.80	19.15	17.83	39.2%	4	10
8	8	40.5%	26.20	27.00	29.55	220.00	18.80	20.35	19.59	37.2%	11	36
50	4	39.2%	25.70	24.55	26.35	225.00	21.35	22.95	25.67	37.2%	1	2
IBM $227.13
129	3	40.3%	23.65	21.75	24.90	230.00	24.00	25.75	26.65	37.2%	2	20
32	1	39.3%	21.25	19.60	22.20	235.00	26.20	29.05	31.40	37.8%	4	150
32	6	39.1%	19.70	17.80	20.15	240.00	29.10	31.80	31.61	37.3%	4	4
89	1	39.2%	18.00	16.85	18.45	245.00	—	—	—	—	—	—
23	4	38.6%	14.80	14.95	16.40	250.00	35.80	38.90	40.70	38.0%	2	4
28	2	38.9%	14.35	12.65	15.10	255.00	39.75	41.80	45.22	37.1%	—	2
90	1	40.0%	12.83	11.25	14.35	260.00	42.90	45.60	41.40	37.4%	—	2
41	7	39.6%	12.00	10.00	12.85	265.00	—	—	—	—	—	—
19	1	38.6%	10.50	8.85	11.05	270.00	—	—	—	—	—	—
118	2	38.6%	8.90	7.80	10.00	275.00	—	—	—	—	—	—
181	9	38.6%	8.08	8.00	9.05	280.00	—	—	—	—	—	—
76	20	39.9%	8.15	6.30	8.80	285.00	—	—	—	—	—	—
8	2	39.7%	7.10	5.35	7.90	290.00	67.20	69.95	63.70	38.1%	—	4
10	1	38.8%	6.75	5.95	6.70	295.00	—	—	—	—	—	—
47	7	40.2%	5.65	4.65	6.65	300.00	75.60	78.90	82.80	38.8%	—	1
6	5	38.5%	7.14	4.75	5.30	305.00	—	—	—	—	—	—
6	1	38.6%	4.40	3.85	4.80	310.00	—	—	—	—	—	—
19	1	41.6%	4.40	3.20	5.50	315.00	—	—	—	—	—	—
46	1	39.3%	3.40	3.40	4.10	320.00	—	—	—	—	—	—
23	1	39.0%	2.68	2.21	3.60	325.00	—	—	—	—	—	—
5	4	42.3%	5.45	2.39	4.35	330.00	—	—	—	—	—	—
60	1	41.0%	3.81	2.26	3.50	335.00	—	—	—	—	—	—
2	—	39.7%	5.00	2.06	2.78	340.00	112.80	116.30	109.00	41.9%	—	1
23	12	42.2%	6.00	1.70	2.91	350.00	—	—	—	—	—	—
1	—	41.0%	1.79	1.35	2.10	360.00	—	—	—	—	—	—

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 April 16, 2027 expiration, the IBM put/call ratio based on open interest is 1.64 (2,121 puts vs 1,291 calls), and 1.04 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 April 16, 2027 is about 38.2%, 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.