SAP (SAP) Options Chain

NYSE: SAPTechnologyComputer Software: Prepackaged SoftwareUSD

214.78+2.38 (+1.12%)

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

Expiration date

Expiration: Nov 20, 2026
Days to expiration: 40
Share price: $214.78
Put/call ratio (OI): 1.05
Put/call ratio (volume): 1.72
ATM implied volatility: 42.8%
Expected move: ±$30.44
Open interest (C / P): 1.95K / 2.04K

SAP options summary

The SAP options chain for the November 20, 2026 expiration lists 12 call and 16 put contracts, with 40 days until expiration. Open interest stands at 1,946 calls and 2,044 puts, a put/call ratio of 1.05, which is fairly balanced between calls and puts. At-the-money implied volatility near the $210.00 strike is 42.8%, which implies the market expects a move of about ±$30.44 (14.2%) in SAP stock by expiration.

The most open interest sits at the $240.00 call (479 contracts) and the $210.00 put (442 contracts).

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

SAP options chain · November 20, 2026

SAP 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
—	—	—	—	—	—	140.00	0.00	0.35	0.35	59.3%	4	3
—	—	—	—	—	—	145.00	0.00	0.40	0.65	56.0%	—	2
—	—	—	—	—	—	160.00	0.30	0.65	0.68	50.3%	1	244
—	—	—	—	—	—	165.00	0.45	0.80	0.67	50.9%	7	13
—	—	—	—	—	—	170.00	0.45	1.20	0.85	50.8%	1	153
—	—	—	—	—	—	175.00	0.95	2.25	1.22	54.6%	7	35
—	—	—	—	—	—	180.00	1.35	2.75	2.05	52.5%	3	80
—	—	—	—	—	—	185.00	1.95	2.60	2.28	45.9%	1	103
—	—	—	—	—	—	190.00	2.75	3.20	2.95	43.6%	136	62
100	—	49.8%	22.70	23.80	25.60	195.00	3.80	4.20	4.00	42.5%	428	276
51	5	47.9%	19.70	20.40	21.80	200.00	5.10	5.60	5.35	42.1%	208	182
91	18	44.8%	14.20	13.80	15.10	210.00	8.70	9.20	9.10	40.8%	21	442
SAP $214.78
346	259	43.7%	9.84	9.10	10.10	220.00	13.80	14.30	13.86	40.1%	25	294
444	177	43.2%	6.25	6.00	6.50	230.00	20.00	20.90	25.40	40.1%	15	110
479	5	42.9%	3.85	2.35	4.00	240.00	27.40	28.90	33.60	41.5%	15	45
159	24	43.5%	2.32	2.15	2.50	250.00	—	—	42.60	—	—	—
22	2	44.6%	1.43	1.20	1.60	260.00	—	—	—	—	—	—
18	10	45.8%	0.96	0.70	1.05	270.00	—	—	—	—	—	—
149	1	50.5%	0.35	0.10	0.60	290.00	—	—	—	—	—	—
9	5	50.0%	0.15	0.00	0.40	310.00	—	—	—	—	—	—
78	1	52.7%	0.30	0.00	0.35	320.00	—	—	—	—	—	—

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 SAP put/call ratio?

For the November 20, 2026 expiration, the SAP put/call ratio based on open interest is 1.05 (2,044 puts vs 1,946 calls), and 1.72 based on today's volume. A ratio above 1 means more puts than calls.

What is SAP's implied volatility?

At-the-money implied volatility for SAP options expiring November 20, 2026 is about 42.8%, an annualized estimate of how much the market expects SAP stock to move.

How many SAP option expiration dates are there?

SAP has 15 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.