Novo Nordisk A/S (NVO) Options Chain

NYSE: NVOHealth CareBiotechnology: Pharmaceutical PreparationsUSD

38.64+0.46 (+1.20%)

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

Expiration date

Expiration: Oct 16, 2026
Days to expiration: 5
Share price: $38.64
Put/call ratio (OI): 0.56
Put/call ratio (volume): 0.54
ATM implied volatility: 36.2%
Expected move: ±$1.64
Open interest (C / P): 117.18K / 66.00K

NVO options summary

The NVO options chain for the October 16, 2026 expiration lists 37 call and 34 put contracts, with 5 days until expiration. Open interest stands at 117,183 calls and 65,996 puts, a put/call ratio of 0.56, which is tilted bullish, with calls outnumbering puts. At-the-money implied volatility near the $38.50 strike is 36.2%, which implies the market expects a move of about ±$1.64 (4.2%) in Novo Nordisk A/S stock by expiration.

The most open interest sits at the $45.00 call (27.01K contracts) and the $40.00 put (18.57K contracts).

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

NVO options chain · October 16, 2026

NVO 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
24	3	292.6%	12.55	12.95	15.35	25.00	0.00	1.24	0.05	309.2%	8	10
—	—	—	—	—	—	27.50	0.00	0.23	0.03	169.9%	1	501
40	29	107.8%	8.22	8.30	9.05	30.00	0.00	0.05	0.03	101.6%	1	615
7	1	77.3%	4.90	6.05	6.30	32.50	0.00	0.13	0.01	86.7%	2	928
—	—	—	—	—	—	34.00	0.00	0.02	0.01	50.0%	2	1,284
399	11	62.5%	3.67	3.60	3.75	35.00	0.01	0.03	0.02	47.3%	432	4,135
141	8	47.5%	2.56	2.64	2.74	36.00	0.03	0.05	0.04	40.0%	440	3,070
804	112	39.3%	1.78	1.66	1.80	37.00	0.11	0.12	0.11	35.5%	376	6,335
1,218	67	38.5%	1.33	1.32	1.40	37.50	0.19	0.23	0.23	36.3%	308	6,694
1,210	390	38.2%	1.01	0.97	1.05	38.00	0.32	0.35	0.33	34.6%	876	2,959
1,193	517	36.5%	0.73	0.67	0.73	38.50	0.51	0.58	0.54	35.9%	220	8,077
NVO $38.64
3,340	1,044	36.7%	0.47	0.45	0.50	39.00	0.78	0.86	0.80	36.7%	166	1,161
1,200	770	37.0%	0.31	0.29	0.33	39.50	1.09	1.23	1.15	39.5%	246	211
21,872	1,988	36.6%	0.19	0.19	0.20	40.00	1.50	1.66	1.57	43.8%	53	18,569
601	517	37.9%	0.13	0.11	0.13	40.50	1.89	2.18	2.44	53.1%	1	88
3,661	280	38.7%	0.08	0.07	0.08	41.00	2.35	2.85	3.01	54.4%	1	434
893	16	43.0%	0.05	0.05	0.07	41.50	2.78	3.20	3.19	50.4%	1	26
402	50	44.9%	0.04	0.03	0.05	42.00	3.35	3.45	3.62	51.2%	2	38
4,014	45	44.9%	0.03	0.02	0.03	42.50	3.80	3.95	3.87	56.6%	44	5,740
783	7	55.5%	0.02	0.01	0.10	43.00	4.25	4.70	6.10	65.4%	12	1
235	6	50.0%	0.04	0.01	0.03	43.50	4.75	5.35	5.30	80.3%	2	0
845	1	52.3%	0.02	0.01	0.02	44.00	5.25	5.75	5.36	79.3%	1	0
241	1	56.3%	0.03	0.00	0.03	44.50	5.75	6.20	6.65	80.5%	2	0
27,013	118	59.4%	0.01	0.01	0.02	45.00	6.30	6.45	6.59	59.4%	19	5,113
164	1	65.6%	0.01	0.00	0.04	45.50	—	—	—	—	—	—
325	10	69.5%	0.02	0.00	0.04	46.00	7.20	7.70	7.80	89.8%	6	0
90	5	99.8%	0.02	0.00	0.24	46.50	—	—	—	—	—	—
30	2	76.6%	0.03	0.00	0.04	47.00	8.15	8.70	9.60	92.6%	5	0
9,955	9	68.8%	0.01	0.00	0.01	47.50	8.75	10.15	9.85	164.0%	52	5
16	—	112.9%	0.11	0.00	0.24	48.00	—	—	—	—	—	—
5	4	143.0%	0.07	0.00	0.51	49.00	—	—	—	—	—	—
18,117	15	81.3%	0.01	0.00	0.01	50.00	11.25	11.70	11.23	128.1%	3	2
1	—	168.6%	0.03	0.00	0.51	52.00	—	—	—	—	—	—
3,247	8	96.9%	0.01	0.00	0.01	52.50	13.75	14.20	9.78	146.9%	4	0
6,002	4	121.9%	0.01	0.00	0.03	55.00	16.25	17.65	11.71	234.6%	1	0
4,762	9	182.8%	0.01	0.00	0.15	60.00	21.25	22.60	19.55	270.3%	1	0
3,108	2	156.3%	0.01	0.00	0.01	65.00	26.25	28.45	21.54	350.8%	2	0
1,112	7	221.9%	0.01	0.00	0.10	70.00	0.00	0.00	23.40	—	3	0
113	20	266.4%	0.03	0.00	0.20	75.00	26.15	30.15	26.45	—	3	0

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 NVO put/call ratio?

For the October 16, 2026 expiration, the NVO put/call ratio based on open interest is 0.56 (65,996 puts vs 117,183 calls), and 0.54 based on today's volume. A ratio above 1 means more puts than calls.

What is NVO's implied volatility?

At-the-money implied volatility for NVO options expiring October 16, 2026 is about 36.2%, an annualized estimate of how much the market expects Novo Nordisk A/S stock to move.

How many NVO option expiration dates are there?

NVO has 16 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.