Norfolk Southern (NSC) Options Chain

NYSE: NSCIndustrialsRailroadsUSD

317.79+0.80 (+0.25%)

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

Expiration date

Expiration: Mar 19, 2027
Days to expiration: 159
Share price: $317.79
Put/call ratio (OI): 3.85
Put/call ratio (volume): 1.36
ATM implied volatility: 25.5%
Expected move: ±$53.43
Open interest (C / P): 379 / 1.46K

NSC options summary

The NSC options chain for the March 19, 2027 expiration lists 23 call and 21 put contracts, with 159 days until expiration. Open interest stands at 379 calls and 1,460 puts, a put/call ratio of 3.85, which is more bearish, with puts outnumbering calls. At-the-money implied volatility near the $320.00 strike is 25.5%, which implies the market expects a move of about ±$53.43 (16.8%) in Norfolk Southern stock by expiration.

The most open interest sits at the $310.00 call (101 contracts) and the $250.00 put (472 contracts).

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

NSC options chain · March 19, 2027

NSC 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
—	—	—	—	—	—	160.00	0.00	4.20	1.20	64.1%	—	2
—	—	—	—	—	—	175.00	0.00	2.15	1.65	57.1%	2	110
—	—	—	—	—	—	185.00	0.00	2.65	2.20	55.0%	—	1
—	—	—	—	—	—	190.00	0.85	4.80	3.40	53.6%	—	4
—	—	—	—	—	—	200.00	0.00	2.25	1.30	46.6%	1	4
—	—	—	—	—	—	210.00	0.00	1.95	0.45	41.1%	1	4
—	—	—	—	—	—	220.00	0.00	2.65	0.75	40.1%	1	1
10	—	42.5%	106.50	88.50	92.50	230.00	0.00	3.00	1.53	37.4%	1	3
—	—	—	—	—	—	240.00	0.15	3.60	1.95	35.3%	5	8
—	—	—	—	—	—	250.00	1.75	3.00	2.35	29.8%	4	472
1	1	85.8%	97.90	95.30	99.40	260.00	2.25	4.30	2.00	29.2%	1	11
6	6	27.1%	38.00	48.00	53.00	270.00	3.30	5.60	4.90	27.9%	6	101
5	2	32.0%	58.00	44.80	48.50	280.00	4.90	8.50	6.70	28.6%	1	455
10	5	69.3%	62.58	68.00	72.20	290.00	4.50	8.50	5.50	24.1%	1	7
6	1	45.4%	34.27	43.00	46.50	300.00	9.00	12.50	8.30	24.8%	5	49
101	1	28.1%	24.52	23.50	27.40	310.00	12.70	16.10	17.73	23.9%	10	95
NSC $317.79
28	4	27.3%	19.70	17.90	21.90	320.00	17.00	21.00	13.90	23.6%	21	93
17	2	26.4%	15.90	13.60	17.00	330.00	22.60	26.00	25.40	22.6%	10	17
42	5	26.4%	12.30	9.70	13.50	340.00	28.90	32.00	15.70	21.7%	5	9
29	1	26.3%	7.43	6.70	10.50	350.00	35.90	39.50	20.30	21.9%	12	13
21	5	26.1%	5.40	4.30	8.00	360.00	43.70	47.50	20.80	21.9%	—	1
23	3	25.0%	3.70	2.90	5.50	370.00	—	—	—	—	—	—
10	1	25.0%	2.05	1.75	4.10	380.00	—	—	—	—	—	—
16	10	26.3%	1.90	1.10	3.60	390.00	—	—	—	—	—	—
20	2	26.9%	1.25	0.00	2.95	400.00	—	—	—	—	—	—
7	1	27.9%	1.45	0.00	2.55	410.00	—	—	—	—	—	—
6	2	29.2%	1.20	0.00	2.35	420.00	—	—	—	—	—	—
7	5	27.1%	0.41	0.00	1.25	430.00	—	—	—	—	—	—
9	6	28.2%	0.30	0.00	1.15	440.00	—	—	—	—	—	—
2	—	28.7%	0.50	0.00	0.95	450.00	—	—	—	—	—	—
1	—	36.8%	1.50	0.00	2.60	460.00	—	—	—	—	—	—
2	1	33.6%	0.75	0.00	1.35	470.00	—	—	—	—	—	—

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 NSC put/call ratio?

For the March 19, 2027 expiration, the NSC put/call ratio based on open interest is 3.85 (1,460 puts vs 379 calls), and 1.36 based on today's volume. A ratio above 1 means more puts than calls.

What is NSC's implied volatility?

At-the-money implied volatility for NSC options expiring March 19, 2027 is about 25.5%, an annualized estimate of how much the market expects Norfolk Southern stock to move.

How many NSC option expiration dates are there?

NSC has 8 listed expiration dates, from Oct 16, 2026 to Jan 21, 2028.

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.