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: Dec 17, 2027
Days to expiration: 432
Share price: $143.75
Put/call ratio (OI): 1.66
Put/call ratio (volume): 1.40
ATM implied volatility: 25.1%
Expected move: ±$39.24
Open interest (C / P): 1.28K / 2.13K

NVS options summary

The NVS options chain for the December 17, 2027 expiration lists 27 call and 21 put contracts, with 432 days until expiration. Open interest stands at 1,283 calls and 2,129 puts, a put/call ratio of 1.66, which is more bearish, with puts outnumbering calls. At-the-money implied volatility near the $145.00 strike is 25.1%, which implies the market expects a move of about ±$39.24 (27.3%) in Novartis stock by expiration.

The most open interest sits at the $185.00 call (201 contracts) and the $155.00 put (353 contracts).

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

NVS options chain · December 17, 2027

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
0	—	91.2%	97.40	87.00	92.00	65.00	0.00	0.00	0.49	12.5%	1	0
2	3	84.4%	92.60	82.00	87.00	70.00	0.15	0.60	0.29	37.1%	2	0
—	—	—	—	—	—	80.00	0.00	0.00	0.74	12.5%	3	0
—	—	—	—	—	—	85.00	0.85	1.45	1.10	34.2%	10	12
—	—	—	—	—	—	90.00	1.10	1.70	1.34	32.4%	—	20
—	—	—	—	—	—	95.00	0.90	1.45	1.55	28.1%	1	51
1	1	37.1%	46.55	46.30	48.60	100.00	1.25	2.00	1.52	27.7%	2	139
7	1	35.5%	37.82	42.10	44.30	105.00	1.75	2.25	2.20	25.7%	2	247
6	1	34.0%	37.07	38.00	40.10	110.00	1.60	4.80	3.00	30.2%	3	17
5	1	58.8%	43.91	47.50	50.00	115.00	2.90	3.70	4.36	24.1%	—	60
0	12	—	52.07	0.00	0.00	120.00	2.60	4.80	4.60	23.6%	2	97
5	1	30.6%	25.80	27.10	28.70	125.00	5.20	6.10	6.40	23.1%	5	41
5	2	29.7%	22.60	23.90	25.30	130.00	4.90	7.60	7.30	22.6%	92	195
12	3	28.8%	18.50	20.90	22.10	135.00	8.30	9.40	10.00	22.1%	5	292
10	2	27.9%	16.55	16.00	19.10	140.00	10.70	13.40	10.60	24.8%	15	65
NVS $143.75
189	1	27.2%	15.50	15.70	16.40	145.00	13.10	15.00	9.40	23.0%	5	21
162	4	29.8%	11.00	13.30	16.00	150.00	15.80	17.10	17.51	21.6%	2	192
0	1	1.6%	19.88	0.00	0.00	155.00	17.30	21.60	20.70	23.7%	5	353
35	2	28.2%	19.84	9.60	11.50	160.00	—	—	—	—	—	—
0	2	3.1%	17.25	0.00	0.00	165.00	17.30	18.80	20.10	—	110	110
47	1	26.0%	6.89	6.80	7.50	170.00	20.20	22.40	23.10	—	—	10
173	2	25.9%	6.20	5.70	6.40	175.00	—	—	—	—	—	—
80	1	25.8%	4.45	4.70	5.40	180.00	37.50	39.20	42.70	20.6%	3	207
201	1	29.6%	3.81	3.90	6.50	185.00	—	—	—	—	—	—
1	—	28.4%	2.63	3.30	5.10	190.00	—	—	—	—	—	—
0	12	6.3%	11.50	0.00	0.00	195.00	—	—	—	—	—	—
6	5	30.5%	2.25	2.25	4.70	200.00	—	—	—	—	—	—
197	2	29.1%	2.10	1.55	3.10	210.00	—	—	—	—	—	—
134	130	30.0%	0.90	0.60	2.60	220.00	—	—	—	—	—	—
5	—	34.2%	2.95	0.70	3.30	230.00	—	—	—	—	—	—
0	1	12.5%	1.90	0.00	0.00	240.00	—	—	—	—	—	—

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 December 17, 2027 expiration, the NVS put/call ratio based on open interest is 1.66 (2,129 puts vs 1,283 calls), and 1.40 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 December 17, 2027 is about 25.1%, 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.