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: Dec 15, 2028
Days to expiration: 796
Share price: $170.85
Put/call ratio (OI): 1.72
Put/call ratio (volume): 1.59
ATM implied volatility: 57.4%
Expected move: ±$144.89
Open interest (C / P): 9.87K / 16.98K

SHOP options summary

The SHOP options chain for the December 15, 2028 expiration lists 35 call and 34 put contracts, with 796 days until expiration. Open interest stands at 9,871 calls and 16,980 puts, a put/call ratio of 1.72, which is more bearish, with puts outnumbering calls. At-the-money implied volatility near the $170.00 strike is 57.4%, which implies the market expects a move of about ±$144.89 (84.8%) in Shopify stock by expiration.

The most open interest sits at the $240.00 call (1.58K contracts) and the $100.00 put (2.48K contracts).

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

SHOP options chain · December 15, 2028

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
62	2	83.1%	123.20	127.00	131.50	50.00	0.50	4.05	3.30	56.6%	1	187
137	1	80.4%	121.10	123.00	127.50	55.00	3.05	3.95	3.50	58.5%	1	1,094
83	1	79.3%	101.33	119.50	124.00	60.00	2.98	4.85	4.04	56.2%	1	1,624
17	1	77.3%	100.25	116.00	119.90	65.00	4.55	5.90	5.83	57.0%	6	951
69	1	76.7%	85.95	112.50	117.00	70.00	5.60	6.90	6.50	56.4%	1	500
34	4	75.3%	107.20	109.00	113.50	75.00	6.80	8.10	7.50	56.0%	10	815
71	1	73.8%	99.00	105.50	109.95	80.00	7.65	8.95	8.50	54.5%	1	236
146	1	73.3%	99.00	102.50	107.00	85.00	9.25	10.65	10.30	54.7%	6	1,142
54	7	72.2%	96.00	99.00	104.00	90.00	9.70	12.15	12.95	53.3%	2	1,063
187	1	71.4%	74.76	96.00	101.00	95.00	12.05	13.80	14.30	53.8%	1	1,584
277	1	70.7%	92.13	93.50	97.65	100.00	13.05	15.25	15.19	52.6%	2	2,484
99	1	70.1%	91.00	90.50	95.00	105.00	14.70	17.70	20.78	52.7%	1	120
169	1	69.5%	89.50	87.50	92.50	110.00	16.60	18.90	19.95	51.9%	100	1,570
191	2	68.8%	80.51	85.00	89.50	115.00	18.40	21.75	24.00	52.1%	1	187
435	1	68.0%	84.65	82.50	86.40	120.00	21.10	22.60	22.86	51.3%	1	1,111
50	2	67.9%	79.40	80.00	84.50	125.00	22.20	25.40	25.30	50.8%	1	284
215	2	67.0%	78.61	77.50	81.40	130.00	25.45	27.35	26.72	50.9%	1	122
52	2	67.1%	76.24	75.00	80.00	135.00	27.60	30.60	34.80	51.1%	6	81
1,387	2	66.7%	69.70	73.00	77.50	140.00	30.15	32.20	30.95	50.4%	18	300
127	2	65.9%	68.94	71.00	74.50	145.00	31.55	35.50	41.98	52.2%	2	78
405	6	66.0%	71.00	68.50	73.50	150.00	34.65	38.10	37.80	51.9%	1	197
129	9	65.8%	64.25	66.50	71.50	155.00	36.05	40.85	43.90	51.6%	1	68
378	1	65.5%	64.12	64.50	69.50	160.00	40.10	42.45	41.80	50.0%	1	134
229	1	65.4%	64.00	63.00	67.50	165.00	41.70	46.50	46.00	51.1%	25	122
67	6	64.7%	61.25	61.00	65.00	170.00	45.20	48.85	63.85	50.2%	3	26
SHOP $170.85
80	1	64.3%	46.89	59.25	63.00	175.00	47.50	52.00	59.29	50.1%	12	19
431	5	64.5%	55.55	57.50	62.00	180.00	59.50	64.00	76.00	56.8%	1	13
298	1	64.3%	54.65	56.00	60.25	185.00	—	—	—	—	—	—
104	1	64.1%	55.10	54.00	59.00	190.00	57.85	61.30	76.22	49.2%	1	2
69	8	64.8%	49.00	54.25	57.50	195.00	94.00	97.50	100.24	82.0%	1	2
519	26	63.5%	50.00	51.00	55.50	200.00	0.00	0.00	76.04	—	1	0
143	1	64.1%	49.98	49.55	53.00	210.00	69.50	74.45	80.08	48.0%	1	1
181	1	62.7%	41.49	45.50	49.60	220.00	77.65	81.35	90.06	47.4%	1	854
1,393	1	62.9%	42.92	43.00	48.00	230.00	84.00	88.50	90.00	46.9%	1	1
1,583	31	61.2%	41.75	40.50	42.95	240.00	91.00	95.50	97.45	46.0%	1	8

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 December 15, 2028 expiration, the SHOP put/call ratio based on open interest is 1.72 (16,980 puts vs 9,871 calls), and 1.59 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 December 15, 2028 is about 57.4%, 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.