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: Nov 20, 2026
Days to expiration: 40
Share price: $38.64
Put/call ratio (OI): 1.34
Put/call ratio (volume): 0.52
ATM implied volatility: 39.4%
Expected move: ±$5.04
Open interest (C / P): 49.48K / 66.38K

NVO options summary

The NVO options chain for the November 20, 2026 expiration lists 17 call and 18 put contracts, with 40 days until expiration. Open interest stands at 49,484 calls and 66,381 puts, a put/call ratio of 1.34, which is more bearish, with puts outnumbering calls. At-the-money implied volatility near the $37.50 strike is 39.4%, which implies the market expects a move of about ±$5.04 (13.0%) in Novo Nordisk A/S stock by expiration.

The most open interest sits at the $40.00 call (7.98K contracts) and the $37.50 put (13.21K contracts).

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

NVO options chain · November 20, 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
—	—	—	—	—	—	22.50	0.00	1.30	0.05	129.9%	—	2
5	2	65.2%	12.08	11.75	15.65	25.00	0.00	0.04	0.02	56.3%	2	19
6	2	56.1%	11.14	9.25	13.20	27.50	0.01	0.05	0.03	51.2%	53	193
159	14	54.5%	8.60	8.80	8.95	30.00	0.05	0.10	0.07	45.1%	20	3,331
1,355	1	49.9%	6.45	6.45	6.60	32.50	0.18	0.22	0.19	40.0%	9	2,371
523	7	44.0%	4.15	4.30	4.45	35.00	0.55	0.59	0.57	38.1%	390	11,361
2,357	73	41.5%	2.80	2.66	2.73	37.50	1.34	1.38	1.35	37.3%	208	13,207
NVO $38.64
7,976	780	40.4%	1.49	1.47	1.51	40.00	2.64	2.71	2.69	37.2%	136	11,349
4,782	316	40.9%	0.79	0.76	0.80	42.50	4.40	4.50	4.46	37.1%	17	4,586
5,969	236	41.5%	0.39	0.38	0.40	45.00	6.50	6.85	6.65	44.3%	17	10,993
2,468	28	43.0%	0.19	0.19	0.21	47.50	8.80	9.25	9.40	50.5%	1	1,497
7,173	222	45.1%	0.12	0.11	0.12	50.00	11.25	11.70	11.52	56.9%	14	7,469
2,695	1	50.9%	0.08	0.07	0.11	52.50	13.55	14.20	14.00	64.5%	118	0
3,608	25	50.8%	0.06	0.04	0.07	55.00	14.85	18.30	17.56	64.7%	1	3
6,504	146	57.4%	0.04	0.03	0.04	60.00	19.90	23.15	21.40	72.8%	1	0
1,703	15	66.0%	0.03	0.02	0.05	65.00	24.50	28.45	25.12	78.1%	2	0
484	32	71.1%	0.01	0.01	0.04	70.00	0.00	0.00	23.60	—	3	0
1,717	6	81.3%	0.06	0.00	0.07	75.00	26.75	30.10	26.35	—	—	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 November 20, 2026 expiration, the NVO put/call ratio based on open interest is 1.34 (66,381 puts vs 49,484 calls), and 0.52 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 November 20, 2026 is about 39.4%, 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.