Northern Oil and Gas (NOG) Options Chain

NYSE: NOGEnergyOil & Gas ProductionUSD

24.76-0.38 (-1.51%)

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

Expiration date

Expiration: Jan 15, 2027
Days to expiration: 96
Share price: $24.76
Put/call ratio (OI): 0.70
Put/call ratio (volume): 0.18
ATM implied volatility: 47.0%
Expected move: ±$5.96
Open interest (C / P): 2.95K / 2.06K

NOG options summary

The NOG options chain for the January 15, 2027 expiration lists 23 call and 19 put contracts, with 96 days until expiration. Open interest stands at 2,950 calls and 2,064 puts, a put/call ratio of 0.70, which is tilted bullish, with calls outnumbering puts. At-the-money implied volatility near the $25.00 strike is 47.0%, which implies the market expects a move of about ±$5.96 (24.1%) in Northern Oil and Gas stock by expiration.

The most open interest sits at the $35.00 call (380 contracts) and the $26.00 put (645 contracts).

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

NOG options chain · January 15, 2027

NOG 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	100	123.8%	13.50	13.80	16.40	10.00	0.00	0.00	0.28	50.0%	2	0
0	115	92.4%	10.30	11.00	13.20	13.00	0.00	0.00	0.38	25.0%	2	0
2	1	102.6%	9.30	10.40	12.50	14.00	0.00	0.00	0.20	25.0%	22	0
14	265	88.3%	8.40	9.60	11.10	15.00	0.00	0.00	0.35	25.0%	12	0
10	6	79.4%	9.87	8.60	10.10	16.00	0.00	0.50	0.30	62.1%	2	50
24	4	73.1%	8.74	7.90	8.90	17.00	0.05	0.45	0.24	55.1%	1	50
49	2	66.8%	8.50	6.70	8.20	18.00	0.20	0.60	0.50	55.5%	1	127
17	4	63.7%	7.36	5.90	7.30	19.00	0.30	0.55	0.80	54.0%	1	30
184	5	54.1%	5.75	5.10	6.00	20.00	0.25	0.65	0.55	49.9%	20	44
77	5	51.7%	3.37	4.30	5.20	21.00	0.65	0.85	0.71	48.0%	15	153
211	9	51.8%	4.10	3.70	4.10	22.00	0.90	1.15	1.24	47.4%	1	611
99	8	57.9%	2.35	3.00	3.80	23.00	1.20	1.60	2.25	48.5%	1	108
248	3	60.2%	2.24	2.35	3.40	24.00	1.60	2.00	2.95	47.2%	1	122
NOG $24.76
357	6	48.3%	2.20	1.95	2.35	25.00	2.10	2.45	3.75	45.6%	7	120
234	3	48.4%	1.75	1.50	1.95	26.00	2.45	3.20	4.30	48.6%	1	645
259	2	44.3%	1.67	1.15	1.40	27.00	0.00	0.00	4.03	—	10	0
134	1	48.2%	1.18	0.90	1.30	28.00	—	—	—	—	—	—
45	4	48.1%	0.75	0.65	1.05	29.00	—	—	—	—	—	—
373	4	49.4%	0.83	0.55	0.90	30.00	0.00	0.00	9.75	—	—	0
117	1	49.8%	0.30	0.30	0.60	32.00	10.50	12.80	9.66	131.3%	2	2
380	1	55.2%	0.20	0.15	0.45	35.00	11.10	13.10	9.80	91.9%	2	2
116	2	58.6%	0.22	0.00	0.45	40.00	—	—	—	—	—	—
0	20	25.0%	0.05	0.00	0.00	45.00	—	—	—	—	—	—

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 NOG put/call ratio?

For the January 15, 2027 expiration, the NOG put/call ratio based on open interest is 0.70 (2,064 puts vs 2,950 calls), and 0.18 based on today's volume. A ratio above 1 means more puts than calls.

What is NOG's implied volatility?

At-the-money implied volatility for NOG options expiring January 15, 2027 is about 47.0%, an annualized estimate of how much the market expects Northern Oil and Gas stock to move.

How many NOG option expiration dates are there?

NOG has 8 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.