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: Dec 18, 2026
Days to expiration: 68
Share price: $214.78
Put/call ratio (OI): 0.95
Put/call ratio (volume): 1.29
ATM implied volatility: 39.8%
Expected move: ±$36.85
Open interest (C / P): 7.61K / 7.26K

SAP options summary

The SAP options chain for the December 18, 2026 expiration lists 40 call and 33 put contracts, with 68 days until expiration. Open interest stands at 7,608 calls and 7,258 puts, a put/call ratio of 0.95, which is fairly balanced between calls and puts. At-the-money implied volatility near the $210.00 strike is 39.8%, which implies the market expects a move of about ±$36.85 (17.2%) in SAP stock by expiration.

The most open interest sits at the $240.00 call (800 contracts) and the $160.00 put (653 contracts).

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

SAP options chain · December 18, 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
—	—	—	—	—	—	80.00	0.00	0.00	0.13	50.0%	3	0
—	—	—	—	—	—	85.00	0.00	2.15	0.10	120.8%	14	19
1	—	164.0%	77.10	127.80	132.00	90.00	0.00	2.15	0.09	114.0%	3	107
—	—	—	—	—	—	95.00	0.00	2.15	0.05	107.6%	1	3
2	2	148.7%	67.83	118.00	122.20	100.00	0.00	1.10	0.29	90.2%	5	38
—	—	—	—	—	—	105.00	0.00	0.95	0.08	83.0%	1	11
2	2	134.7%	41.50	108.20	112.40	110.00	0.00	0.00	0.45	25.0%	1	0
—	—	—	—	—	—	115.00	0.00	0.75	0.30	70.8%	1	318
—	—	—	—	—	—	120.00	0.00	0.30	0.22	58.3%	1	25
4	3	87.2%	72.33	90.20	93.60	125.00	0.00	0.00	0.95	25.0%	1	0
1	1	85.2%	60.27	85.70	88.80	130.00	0.10	1.20	0.20	64.0%	1	506
10	1	71.6%	84.85	80.00	82.70	135.00	0.15	0.45	0.25	52.5%	2	556
18	1	64.9%	74.18	74.60	77.70	140.00	0.20	0.55	0.30	50.6%	6	227
19	1	76.0%	36.50	71.70	74.50	145.00	0.30	0.60	0.82	51.0%	14	237
218	1	59.3%	65.25	64.90	68.10	150.00	0.40	0.70	0.45	48.7%	60	226
24	1	56.9%	65.47	60.10	63.40	155.00	0.50	0.80	0.60	46.2%	11	129
275	2	56.6%	54.80	56.20	58.50	160.00	0.70	1.10	1.65	45.5%	1	653
239	1	52.7%	51.40	51.30	53.60	165.00	0.80	1.55	1.95	45.3%	70	420
176	5	51.8%	45.40	47.00	49.20	170.00	1.35	1.75	2.36	42.7%	7	170
164	1	54.1%	43.60	41.90	44.60	175.00	1.85	3.50	3.00	48.1%	3	493
224	25	51.7%	37.93	38.40	40.20	180.00	2.55	4.70	2.59	48.7%	1	368
584	1	49.3%	33.40	33.80	35.90	185.00	3.30	3.80	3.50	40.2%	20	424
404	4	47.6%	28.35	30.50	31.90	190.00	4.40	4.80	4.70	39.4%	1	513
508	1	45.8%	32.40	26.50	28.00	195.00	5.60	6.10	8.40	38.9%	4	421
481	15	44.4%	21.20	23.20	24.40	200.00	7.20	7.60	10.10	38.3%	12	207
342	19	42.1%	14.80	17.50	18.00	210.00	11.00	11.50	11.40	37.4%	33	191
SAP $214.78
621	17	41.1%	12.90	12.40	13.00	220.00	16.10	16.60	18.50	36.7%	4	70
505	18	40.6%	8.80	8.70	9.20	230.00	22.30	22.90	26.30	36.3%	4	581
800	5	40.5%	6.40	5.80	6.40	240.00	29.20	30.60	35.10	37.3%	1	131
389	3	40.6%	4.30	3.80	4.40	250.00	37.00	38.50	35.30	36.4%	2	184
531	2	40.8%	3.00	2.60	3.00	260.00	45.50	47.40	54.00	37.0%	15	15
145	1	41.4%	1.50	1.70	2.10	270.00	54.60	56.80	63.60	38.5%	15	15
48	9	42.3%	1.19	1.15	1.50	280.00	0.00	0.00	112.90	—	1	0
225	1	43.3%	1.50	0.55	1.10	290.00	—	—	—	—	—	—
89	3	45.1%	1.08	0.45	0.90	300.00	—	—	—	—	—	—
53	22	46.9%	1.34	0.20	0.75	310.00	—	—	—	—	—	—
27	6	48.9%	0.70	0.15	0.65	320.00	—	—	—	—	—	—
83	1	50.4%	0.33	0.00	0.55	330.00	—	—	—	—	—	—
0	1	25.0%	1.05	0.00	0.00	340.00	—	—	—	—	—	—
119	10	53.3%	0.61	0.10	0.70	350.00	—	—	—	—	—	—
8	7	54.7%	0.55	0.00	0.35	360.00	—	—	—	—	—	—
0	38	25.0%	0.73	0.00	0.00	370.00	—	—	—	—	—	—
0	1	25.0%	0.50	0.00	0.00	380.00	—	—	—	—	—	—
0	2	25.0%	0.75	0.00	0.00	390.00	—	—	—	—	—	—
159	13	57.4%	0.47	0.00	0.30	400.00	—	—	—	—	—	—
110	1	56.7%	0.10	0.00	0.20	410.00	—	—	—	—	—	—

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 December 18, 2026 expiration, the SAP put/call ratio based on open interest is 0.95 (7,258 puts vs 7,608 calls), and 1.29 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 December 18, 2026 is about 39.8%, 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.