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 23, 2026
Days to expiration: 12
Share price: $38.64
Put/call ratio (OI): 0.85
Put/call ratio (volume): 0.10
ATM implied volatility: 33.3%
Expected move: ±$2.33
Open interest (C / P): 9.01K / 7.62K

NVO options summary

The NVO options chain for the October 23, 2026 expiration lists 25 call and 23 put contracts, with 12 days until expiration. Open interest stands at 9,006 calls and 7,624 puts, a put/call ratio of 0.85, which is fairly balanced between calls and puts. At-the-money implied volatility near the $39.00 strike is 33.3%, which implies the market expects a move of about ±$2.33 (6.0%) in Novo Nordisk A/S stock by expiration.

The most open interest sits at the $44.00 call (3.40K contracts) and the $38.00 put (1.64K contracts).

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

NVO options chain · October 23, 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
2	1	88.5%	8.70	8.25	8.80	30.00	—	—	—	—	—	—
2	—	85.2%	9.50	6.60	7.35	32.00	0.00	0.04	0.06	53.1%	5	7
—	—	—	—	—	—	33.00	0.00	0.05	0.06	47.3%	4	8
—	—	—	—	—	—	34.00	0.00	0.11	0.03	47.3%	1	519
7	1	49.8%	2.43	3.30	3.90	35.00	0.03	0.15	0.05	42.2%	22	1,239
22	20	47.6%	2.18	2.74	3.05	36.00	0.09	0.16	0.15	33.8%	32	958
146	16	41.2%	1.95	1.84	2.17	37.00	0.26	0.30	0.27	31.3%	296	1,003
301	238	34.6%	1.28	1.19	1.35	38.00	0.54	0.57	0.57	29.5%	61	1,642
NVO $38.64
300	60	34.2%	0.77	0.65	0.83	39.00	1.02	1.14	1.05	32.5%	110	883
1,810	1,480	33.6%	0.43	0.35	0.46	40.00	1.67	1.92	1.84	37.5%	2	434
393	141	33.7%	0.21	0.20	0.24	41.00	2.36	2.87	2.95	46.1%	2	369
306	38	38.3%	0.11	0.10	0.18	42.00	3.35	3.80	3.79	52.3%	2	331
368	240	57.6%	0.07	0.00	0.38	43.00	4.30	5.30	5.73	60.6%	2	231
3,401	3,412	44.3%	0.02	0.00	0.09	44.00	5.25	6.85	7.11	80.9%	6	0
109	1	44.9%	0.05	0.00	0.05	45.00	6.25	6.85	8.08	59.6%	3	0
125	5	56.5%	0.03	0.00	0.19	46.00	7.25	8.60	6.12	89.9%	3	0
110	1	93.3%	0.02	0.00	1.00	47.00	8.20	9.65	4.56	97.0%	1	0
148	4	98.5%	0.05	0.00	0.96	48.00	9.25	10.65	7.28	105.0%	1	0
1,114	3	97.1%	0.04	0.00	0.73	49.00	10.20	11.65	6.25	110.0%	2	0
151	1	61.7%	0.01	0.00	0.05	50.00	11.25	12.65	7.17	117.6%	2	0
44	5	66.0%	0.07	0.00	0.05	51.00	—	—	—	—	—	—
102	100	123.4%	0.09	0.00	1.00	52.00	13.20	14.55	9.02	124.5%	—	0
5	2	133.9%	0.15	0.00	1.15	53.00	14.20	16.30	10.34	152.4%	—	0
30	—	105.7%	0.30	0.00	0.35	54.00	—	—	—	—	—	—
3	1	144.5%	0.01	0.00	1.15	55.00	16.20	18.45	9.30	167.8%	—	0
2	1	162.7%	0.01	0.00	1.40	57.00	—	—	—	—	—	—
5	3	112.5%	0.01	0.00	0.05	65.00	26.20	28.45	22.01	216.0%	—	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 23, 2026 expiration, the NVO put/call ratio based on open interest is 0.85 (7,624 puts vs 9,006 calls), and 0.10 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 23, 2026 is about 33.3%, 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.