Shopify (SHOP) Options Chain

NASDAQ: SHOPTechnologyComputer Software: Prepackaged SoftwareUSD

170.85+6.29 (+3.82%)

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

Expiration date

Expiration: Mar 19, 2027
Days to expiration: 159
Share price: $170.85
Put/call ratio (OI): 0.73
Put/call ratio (volume): 0.27
ATM implied volatility: 55.1%
Expected move: ±$62.19
Open interest (C / P): 12.08K / 8.78K

SHOP options summary

The SHOP options chain for the March 19, 2027 expiration lists 34 call and 30 put contracts, with 159 days until expiration. Open interest stands at 12,078 calls and 8,779 puts, a put/call ratio of 0.73, which is fairly balanced between calls and puts. At-the-money implied volatility near the $170.00 strike is 55.1%, which implies the market expects a move of about ±$62.19 (36.4%) in Shopify stock by expiration.

The most open interest sits at the $165.00 call (1.26K contracts) and the $165.00 put (1.05K contracts).

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

SHOP options chain · March 19, 2027

SHOP 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	1	107.0%	82.70	120.10	123.70	50.00	0.00	1.05	0.28	94.6%	1	96
6	1	103.9%	104.95	115.55	118.80	55.00	0.00	0.62	0.15	80.9%	2	32
26	1	96.5%	84.54	110.40	113.95	60.00	0.00	0.46	0.19	71.9%	1	470
4	1	95.0%	95.20	106.05	109.10	65.00	0.25	0.77	0.30	75.2%	1	466
0	1	—	87.38	0.00	0.00	70.00	0.06	0.65	0.35	66.0%	10	272
23	1	88.4%	77.43	96.80	99.55	75.00	0.00	1.05	1.24	65.3%	1	313
16	10	84.5%	51.70	92.05	94.80	80.00	0.61	0.74	0.66	63.4%	10	363
59	1	81.1%	83.80	87.35	90.10	85.00	0.32	1.51	0.94	62.4%	4	201
52	3	72.6%	78.26	81.95	84.70	90.00	0.54	1.50	1.17	59.2%	14	189
18	1	72.9%	77.37	77.35	80.90	95.00	0.89	2.04	1.46	59.3%	1	182
161	1	69.2%	70.85	73.10	75.65	100.00	1.65	2.34	2.09	59.2%	3	673
185	2	69.9%	70.46	68.50	72.40	105.00	1.90	2.51	2.40	56.2%	12	339
829	1	66.8%	62.75	64.25	67.50	110.00	2.53	3.20	3.00	55.9%	1	275
229	1	68.2%	59.60	60.90	63.85	115.00	2.89	4.20	4.35	55.0%	10	424
1,050	2	65.1%	56.45	56.60	59.25	120.00	4.55	6.05	4.90	58.2%	4	609
1,117	2	63.5%	49.75	52.25	55.55	125.00	4.95	6.00	5.85	54.1%	8	492
330	5	63.3%	50.04	48.65	52.15	130.00	6.20	7.90	8.00	55.0%	3	413
210	4	63.0%	41.64	45.50	48.55	135.00	7.80	10.15	8.75	56.3%	4	262
340	22	60.5%	43.70	42.15	43.90	140.00	9.40	10.20	9.95	53.7%	12	287
210	32	61.7%	40.52	40.00	40.95	145.00	10.75	12.65	12.57	53.8%	1	439
669	206	59.9%	35.45	36.05	37.90	150.00	12.90	14.65	13.68	53.9%	12	378
551	16	60.1%	31.63	33.10	35.65	155.00	14.50	16.50	17.45	52.7%	1	370
662	4	59.6%	28.82	30.35	33.00	160.00	16.80	19.05	18.03	52.8%	10	84
1,260	19	59.6%	28.49	28.15	30.45	165.00	19.60	20.30	23.05	51.6%	1	1,048
455	10	58.7%	26.49	25.70	27.70	170.00	21.70	23.65	23.13	51.6%	3	24
SHOP $170.85
408	10	59.2%	23.30	23.25	26.40	175.00	25.00	26.95	26.39	52.5%	2	23
405	43	58.4%	21.75	22.05	23.05	180.00	28.10	29.85	29.20	52.4%	5	9
837	41	58.8%	19.87	20.40	21.50	185.00	30.35	32.90	35.24	51.1%	1	30
240	3	58.5%	17.75	18.65	19.65	190.00	33.85	36.05	36.55	51.0%	1	14
559	1	58.2%	16.40	16.40	18.55	195.00	—	—	—	—	—	—
283	28	58.1%	16.00	15.45	16.60	200.00	—	—	—	—	—	—
131	25	57.7%	13.30	12.80	13.85	210.00	—	—	—	—	—	—
153	6	57.1%	10.75	9.85	12.05	220.00	—	—	—	—	—	—
600	11	57.4%	8.29	8.10	10.40	230.00	64.25	66.95	87.49	53.5%	1	2

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 SHOP put/call ratio?

For the March 19, 2027 expiration, the SHOP put/call ratio based on open interest is 0.73 (8,779 puts vs 12,078 calls), and 0.27 based on today's volume. A ratio above 1 means more puts than calls.

What is SHOP's implied volatility?

At-the-money implied volatility for SHOP options expiring March 19, 2027 is about 55.1%, an annualized estimate of how much the market expects Shopify stock to move.

How many SHOP option expiration dates are there?

SHOP has 16 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.