SM Energy (SM) Options Chain

NYSE: SMEnergyOil & Gas ProductionUSD

37.20+1.95 (+5.53%)

Market open · Delayed 15 min · as of Oct 8, 3:31 PM ET

Expiration date

Expiration: Oct 16, 2026
Days to expiration: 8
Share price: $37.15
Put/call ratio (OI): 0.75
Put/call ratio (volume): 0.48
ATM implied volatility: 48.8%
Expected move: ±$2.69
Open interest (C / P): 4.97K / 3.71K

SM options summary

The SM options chain for the October 16, 2026 expiration lists 10 call and 8 put contracts, with 8 days until expiration. Open interest stands at 4,971 calls and 3,713 puts, a put/call ratio of 0.75, which is fairly balanced between calls and puts. At-the-money implied volatility near the $37.50 strike is 48.8%, which implies the market expects a move of about ±$2.69 (7.2%) in SM Energy stock by expiration.

The most open interest sits at the $40.00 call (1.73K contracts) and the $32.50 put (1.47K contracts).

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

SM options chain · October 16, 2026

SM 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
—	—	—	—	—	—	20.00	0.00	0.25	0.15	216.8%	—	2
12	13	50.0%	9.91	11.30	13.00	25.00	—	—	—	—	—	—
—	—	—	—	—	—	27.50	0.00	0.60	0.05	143.2%	1	2
21	2	115.0%	5.05	6.30	7.50	30.00	0.00	0.30	0.05	92.2%	10	624
42	30	96.9%	1.70	4.00	5.20	32.50	0.05	0.15	0.09	58.0%	8	1,468
413	43	50.6%	2.55	2.35	2.70	35.00	0.25	0.40	0.30	52.0%	91	981
SM $37.15
1,024	18	49.9%	0.92	0.85	1.00	37.50	1.15	1.30	1.22	47.8%	5	597
1,727	106	51.2%	0.25	0.20	0.30	40.00	2.85	3.60	3.30	55.8%	1	39
552	1	56.6%	0.08	0.00	0.10	42.50	4.80	6.20	5.70	62.3%	8	0
376	2	58.6%	0.04	0.00	0.05	45.00	—	—	—	—	—	—
439	1	71.9%	0.05	0.00	0.05	47.50	—	—	—	—	—	—
365	45	84.4%	0.05	0.00	0.05	50.00	—	—	—	—	—	—

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 SM put/call ratio?

For the October 16, 2026 expiration, the SM put/call ratio based on open interest is 0.75 (3,713 puts vs 4,971 calls), and 0.48 based on today's volume. A ratio above 1 means more puts than calls.

What is SM's implied volatility?

At-the-money implied volatility for SM options expiring October 16, 2026 is about 48.8%, an annualized estimate of how much the market expects SM Energy stock to move.

How many SM option expiration dates are there?

SM has 8 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.