Saratoga Investment New (SAR) Options Chain

NYSE: SARFinanceInvestment ManagersUSD

15.03+0.06 (+0.40%)

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

Expiration date

Expiration: Nov 20, 2026
Days to expiration: 40
Share price: $15.03
Put/call ratio (OI): 4.39
Put/call ratio (volume): 0.63
ATM implied volatility: 57.4%
Expected move: ±$2.85
Open interest (C / P): 1.09K / 4.81K

SAR options summary

The SAR options chain for the November 20, 2026 expiration lists 9 call and 8 put contracts, with 40 days until expiration. Open interest stands at 1,094 calls and 4,806 puts, a put/call ratio of 4.39, which is more bearish, with puts outnumbering calls. At-the-money implied volatility near the $15.00 strike is 57.4%, which implies the market expects a move of about ±$2.85 (19.0%) in Saratoga Investment New stock by expiration.

The most open interest sits at the $25.00 call (754 contracts) and the $20.00 put (2.59K contracts).

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

SAR options chain · November 20, 2026

SAR 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	5	674.2%	14.27	11.30	13.70	2.50	—	—	—	—	—	—
0	1	216.8%	11.82	9.20	11.20	5.00	—	—	—	—	—	—
—	—	—	—	—	—	10.00	0.00	2.15	0.05	180.1%	—	1
0	4	—	9.86	0.00	0.00	12.50	0.00	0.75	0.15	68.6%	1	25
13	10	76.7%	0.37	0.20	1.55	15.00	0.55	0.75	1.30	38.1%	18	93
SAR $15.03
113	1	55.5%	0.05	0.00	0.35	17.50	1.70	3.30	2.60	83.3%	1	1,266
29	10	57.4%	0.05	0.00	0.10	20.00	5.10	5.60	5.30	83.0%	1	2,589
183	1	77.7%	0.04	0.00	0.25	22.50	7.10	8.60	5.45	103.3%	1	152
754	48	70.3%	0.05	0.00	0.05	25.00	9.60	11.10	7.95	120.3%	2	334
2	—	120.3%	0.01	0.00	0.30	30.00	11.20	12.70	12.95	—	26	346

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 SAR put/call ratio?

For the November 20, 2026 expiration, the SAR put/call ratio based on open interest is 4.39 (4,806 puts vs 1,094 calls), and 0.63 based on today's volume. A ratio above 1 means more puts than calls.

What is SAR's implied volatility?

At-the-money implied volatility for SAR options expiring November 20, 2026 is about 57.4%, an annualized estimate of how much the market expects Saratoga Investment New stock to move.

How many SAR option expiration dates are there?

SAR has 4 listed expiration dates, from Oct 16, 2026 to May 21, 2027.

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.