Novartis (NVS) Options Chain

NYSE: NVSHealth CareBiotechnology: Pharmaceutical PreparationsUSD

143.75+0.64 (+0.45%)

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

Expiration date

Expiration: Nov 20, 2026
Days to expiration: 40
Share price: $143.75
Put/call ratio (OI): 1.84
Put/call ratio (volume): 2.31
ATM implied volatility: 26.0%
Expected move: ±$12.39
Open interest (C / P): 5.76K / 10.62K

NVS options summary

The NVS options chain for the November 20, 2026 expiration lists 18 call and 17 put contracts, with 40 days until expiration. Open interest stands at 5,762 calls and 10,619 puts, a put/call ratio of 1.84, which is more bearish, with puts outnumbering calls. At-the-money implied volatility near the $145.00 strike is 26.0%, which implies the market expects a move of about ±$12.39 (8.6%) in Novartis stock by expiration.

The most open interest sits at the $155.00 call (1.31K contracts) and the $135.00 put (2.96K contracts).

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

NVS options chain · November 20, 2026

NVS 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
—	—	—	—	—	—	75.00	0.05	0.20	0.10	86.1%	—	3
—	—	—	—	—	—	95.00	0.00	0.45	0.10	62.7%	—	1
10	—	67.0%	42.75	43.30	45.40	100.00	0.00	0.15	0.05	52.4%	2	2
—	—	—	—	—	—	105.00	0.00	0.20	0.06	48.4%	1	14
—	—	—	—	—	—	110.00	0.00	0.25	0.10	43.9%	1	5
—	—	—	—	—	—	115.00	0.05	0.30	0.52	39.0%	3	29
—	—	—	—	—	—	120.00	0.15	0.40	0.35	34.8%	1	210
24	1	40.7%	17.86	18.80	20.20	125.00	0.25	0.50	0.45	29.9%	2	219
3	1	38.1%	16.50	14.30	15.90	130.00	0.60	0.90	0.77	27.7%	1	1,537
88	2	31.8%	10.50	10.40	11.30	135.00	1.45	1.70	1.60	26.2%	3	2,962
258	15	28.6%	7.01	7.10	7.50	140.00	2.90	3.10	4.10	25.0%	39	2,595
NVS $143.75
624	5	27.5%	4.60	4.40	4.70	145.00	5.00	5.40	5.44	24.6%	5	686
292	58	33.4%	2.55	2.45	3.90	150.00	8.00	8.60	6.80	24.7%	1	710
1,314	77	33.1%	1.35	1.25	2.45	155.00	11.80	12.70	14.28	26.4%	1	513
848	5	27.0%	0.73	0.60	0.80	160.00	16.20	17.40	21.43	30.3%	653	783
794	34	27.2%	0.36	0.30	0.40	165.00	20.70	22.30	25.50	34.9%	1	350
994	36	30.7%	0.20	0.05	0.35	170.00	25.20	27.30	12.20	40.0%	—	0
141	1	32.7%	0.31	0.00	0.25	175.00	—	—	—	—	—	—
129	1	35.0%	0.05	0.00	0.20	180.00	—	—	—	—	—	—
7	1	36.8%	0.10	0.00	0.15	185.00	—	—	—	—	—	—
224	4	39.9%	0.75	0.00	0.15	190.00	—	—	—	—	—	—
3	3	53.6%	0.45	0.00	1.10	195.00	—	—	—	—	—	—
0	64	25.0%	0.50	0.00	0.00	210.00	—	—	—	—	—	—
9	1	65.1%	0.15	0.00	0.75	220.00	—	—	—	—	—	—

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 NVS put/call ratio?

For the November 20, 2026 expiration, the NVS put/call ratio based on open interest is 1.84 (10,619 puts vs 5,762 calls), and 2.31 based on today's volume. A ratio above 1 means more puts than calls.

What is NVS's implied volatility?

At-the-money implied volatility for NVS options expiring November 20, 2026 is about 26.0%, an annualized estimate of how much the market expects Novartis stock to move.

How many NVS option expiration dates are there?

NVS has 9 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.