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: Jan 19, 2029
Days to expiration: 831
Share price: $227.13
Put/call ratio (OI): 1.52
Put/call ratio (volume): 1.30
ATM implied volatility: 37.5%
Expected move: ±$128.55
Open interest (C / P): 669 / 1.02K

IBM options summary

The IBM options chain for the January 19, 2029 expiration lists 41 call and 28 put contracts, with 831 days until expiration. Open interest stands at 669 calls and 1,016 puts, a put/call ratio of 1.52, which is more bearish, with puts outnumbering calls. At-the-money implied volatility near the $225.00 strike is 37.5%, which implies the market expects a move of about ±$128.55 (56.6%) in International Business Machines stock by expiration.

The most open interest sits at the $320.00 call (153 contracts) and the $200.00 put (372 contracts).

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

IBM options chain · January 19, 2029

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
9	10	41.4%	118.17	115.05	119.00	115.00	5.50	6.30	6.15	40.3%	30	32
1	1	42.0%	109.00	111.50	115.50	120.00	—	—	—	—	—	—
5	1	41.5%	109.00	108.00	111.50	125.00	7.10	7.95	8.00	39.2%	3	13
3	1	42.1%	109.00	104.50	108.20	130.00	8.10	9.05	9.05	39.0%	10	19
—	—	—	—	—	—	135.00	8.90	10.00	10.00	38.4%	1	5
—	—	—	—	—	—	140.00	10.00	11.15	10.65	38.1%	1	2
2	1	42.3%	86.30	92.35	95.00	150.00	12.35	14.50	13.85	38.4%	1	27
1	1	41.6%	90.17	88.00	91.25	155.00	13.55	15.70	15.50	37.8%	—	1
19	1	42.1%	81.52	85.05	88.65	160.00	—	—	—	—	—	—
6	—	41.9%	94.70	82.00	85.60	165.00	—	—	—	—	—	—
5	1	42.1%	81.25	79.30	82.95	170.00	18.65	19.90	20.85	36.2%	15	16
1	—	41.9%	74.59	76.65	80.00	175.00	20.30	21.35	22.04	35.7%	4	7
2	1	42.0%	75.57	74.00	77.50	180.00	22.15	22.90	22.55	35.1%	8	314
6	1	42.1%	72.75	70.50	75.00	185.00	23.60	26.55	25.00	36.4%	1	2
6	—	41.4%	71.02	68.50	71.75	190.00	25.85	27.90	27.25	35.5%	—	1
—	—	—	—	—	—	195.00	27.80	29.15	28.99	34.6%	6	2
7	2	41.5%	65.80	64.00	67.15	200.00	29.15	31.35	30.65	34.3%	6	372
9	1	41.0%	63.56	61.65	64.25	205.00	32.15	33.30	32.60	33.8%	1	2
2	1	40.9%	57.50	59.40	61.95	210.00	34.70	36.85	35.15	34.5%	1	3
10	1	41.8%	56.04	56.50	61.00	215.00	—	—	—	—	—	—
20	2	41.2%	56.85	55.00	58.20	220.00	39.65	40.95	40.01	33.4%	1	100
6	1	41.7%	51.00	53.25	57.00	225.00	41.95	43.75	42.79	33.3%	2	73
IBM $227.13
13	1	40.9%	48.98	50.50	54.00	230.00	44.70	46.25	45.17	32.9%	2	2
14	1	41.3%	51.85	48.95	52.75	235.00	46.55	49.15	47.00	32.8%	—	1
18	1	40.7%	45.77	47.55	50.20	240.00	50.20	51.45	53.50	32.1%	2	3
16	5	41.1%	45.78	45.75	49.00	245.00	—	—	—	—	—	—
74	2	41.2%	45.80	44.25	47.50	250.00	54.50	58.75	60.30	32.7%	1	9
3	2	41.3%	39.15	40.00	44.50	260.00	—	—	—	—	—	—
2	2	40.5%	38.80	39.00	42.00	265.00	65.50	68.50	61.80	32.2%	—	0
16	10	40.4%	39.16	37.60	40.50	270.00	68.45	71.30	64.50	31.6%	—	1
2	—	40.1%	39.75	36.80	38.70	275.00	72.30	74.50	71.80	31.3%	5	5
2	1	40.0%	36.87	35.50	37.25	280.00	75.40	77.75	73.46	30.9%	1	1
3	1	40.8%	33.07	31.65	35.85	290.00	81.50	85.65	86.97	31.1%	—	1
5	3	40.2%	31.51	30.55	33.85	295.00	—	—	—	—	—	—
17	3	39.9%	29.90	30.50	32.30	300.00	89.45	93.00	93.96	30.8%	1	2
2	—	40.7%	32.35	29.50	32.25	305.00	—	—	—	—	—	—
150	1	40.5%	28.24	27.35	30.90	310.00	—	—	—	—	—	—
153	1	39.7%	24.57	25.65	27.90	320.00	—	—	—	—	—	—
1	—	40.0%	29.45	25.40	27.25	325.00	—	—	—	—	—	—
1	1	40.2%	25.50	23.75	26.70	330.00	—	—	—	—	—	—
3	3	39.9%	21.65	21.50	24.60	340.00	—	—	—	—	—	—
16	2	39.8%	21.00	20.15	22.80	350.00	—	—	—	—	—	—
3	4	40.2%	19.59	19.70	21.80	360.00	—	—	—	—	—	—
35	8	41.1%	19.30	17.45	21.50	370.00	—	—	—	—	—	—

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 January 19, 2029 expiration, the IBM put/call ratio based on open interest is 1.52 (1,016 puts vs 669 calls), and 1.30 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 January 19, 2029 is about 37.5%, 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.