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: Jan 21, 2028
Days to expiration: 469
Share price: $143.75
Put/call ratio (OI): 1.50
Put/call ratio (volume): 3.89
ATM implied volatility: 25.4%
Expected move: ±$41.45
Open interest (C / P): 2.49K / 3.75K

NVS options summary

The NVS options chain for the January 21, 2028 expiration lists 31 call and 26 put contracts, with 469 days until expiration. Open interest stands at 2,494 calls and 3,748 puts, a put/call ratio of 1.50, which is more bearish, with puts outnumbering calls. At-the-money implied volatility near the $145.00 strike is 25.4%, which implies the market expects a move of about ±$41.45 (28.8%) in Novartis stock by expiration.

The most open interest sits at the $155.00 call (342 contracts) and the $120.00 put (829 contracts).

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

NVS options chain · January 21, 2028

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
1	1	54.1%	76.10	79.00	81.40	65.00	0.15	0.55	0.40	38.3%	121	25
1	—	50.8%	69.80	74.10	76.60	70.00	—	—	—	—	—	—
—	—	—	—	—	—	75.00	0.70	1.05	1.10	36.5%	—	2
10	1	68.4%	71.50	73.00	75.20	80.00	0.40	0.90	0.80	32.3%	8	14
20	—	—	43.65	46.50	51.50	85.00	0.55	1.05	0.70	30.4%	1	32
25	5	41.6%	51.50	55.60	58.20	90.00	0.75	1.40	1.30	29.6%	18	14
27	17	43.2%	54.05	51.20	55.00	95.00	0.00	0.00	1.33	6.3%	1	0
79	1	37.6%	47.00	46.90	49.30	100.00	1.35	2.10	1.75	27.0%	3	124
52	4	67.4%	54.43	57.70	60.90	105.00	1.90	2.40	2.40	25.2%	5	380
53	2	34.5%	36.50	38.70	40.90	110.00	2.60	3.10	2.89	24.5%	1	132
70	2	33.1%	32.00	34.90	36.90	115.00	3.30	4.00	4.90	23.9%	4	137
194	1	31.9%	33.25	31.30	33.10	120.00	4.40	5.00	4.40	23.2%	800	829
64	1	30.9%	26.50	27.90	29.50	125.00	5.70	6.30	6.60	22.6%	5	129
190	49	29.7%	25.10	24.70	26.00	130.00	7.20	7.80	8.25	22.0%	1	113
145	94	29.0%	22.20	21.80	22.90	135.00	9.00	9.60	9.14	21.5%	1	246
220	17	28.3%	21.00	19.00	20.00	140.00	11.00	11.70	8.00	21.1%	3	15
NVS $143.75
10	1	30.2%	18.15	16.50	19.00	145.00	13.40	14.10	16.50	20.7%	1	57
39	10	27.1%	14.90	14.10	15.00	150.00	16.10	18.90	20.20	23.5%	10	773
342	2	26.6%	11.20	12.10	12.80	155.00	17.70	22.00	20.70	23.4%	5	209
50	1	26.3%	10.50	10.30	11.00	160.00	22.30	23.30	25.13	20.0%	1	98
189	1	40.8%	16.00	17.50	18.80	165.00	25.80	26.90	28.10	19.8%	1	237
240	1	25.9%	7.20	7.50	8.10	170.00	20.40	21.40	23.00	—	—	1
32	6	26.0%	6.80	6.30	7.00	175.00	31.00	34.50	28.88	18.9%	6	2
93	1	25.9%	6.09	4.00	6.00	180.00	—	—	—	—	—	—
103	1	27.4%	5.40	3.10	5.90	185.00	41.90	43.80	36.80	20.3%	10	123
8	4	25.9%	10.20	3.70	4.40	190.00	33.90	35.70	35.39	—	2	1
6	1	25.9%	8.80	3.10	3.80	195.00	50.90	53.00	45.00	20.7%	10	55
22	1	25.8%	3.36	2.45	3.20	200.00	—	—	—	—	—	—
64	20	25.9%	1.90	1.85	2.35	210.00	—	—	—	—	—	—
2	1	26.4%	1.43	1.30	1.85	220.00	74.00	78.50	59.76	27.8%	—	0
33	15	27.0%	0.81	0.95	1.50	230.00	—	—	—	—	—	—
110	1	27.7%	0.94	0.70	1.25	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 January 21, 2028 expiration, the NVS put/call ratio based on open interest is 1.50 (3,748 puts vs 2,494 calls), and 3.89 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 January 21, 2028 is about 25.4%, 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.