SM Energy (SM) Options Chain

NYSE: SMEnergyOil & Gas ProductionUSD

37.00-0.08 (-0.22%)

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

Expiration date

Expiration: May 21, 2027
Days to expiration: 223
Share price: $37.00
Put/call ratio (OI): 1.06
Put/call ratio (volume): 0.91
ATM implied volatility: 51.9%
Expected move: ±$15.00
Open interest (C / P): 308 / 328

SM options summary

The SM options chain for the May 21, 2027 expiration lists 14 call and 7 put contracts, with 223 days until expiration. Open interest stands at 308 calls and 328 puts, a put/call ratio of 1.06, which is fairly balanced between calls and puts. At-the-money implied volatility near the $37.50 strike is 51.9%, which implies the market expects a move of about ±$15.00 (40.5%) in SM Energy stock by expiration.

The most open interest sits at the $60.00 call (85 contracts) and the $32.50 put (116 contracts).

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

SM options chain · May 21, 2027

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
2	—	73.5%	14.90	19.00	21.30	17.50	—	—	—	—	—	—
10	—	69.8%	16.29	17.10	18.80	20.00	—	—	—	—	—	—
—	—	—	—	—	—	22.50	0.50	1.25	0.70	57.6%	44	44
1	1	61.6%	11.60	13.00	14.40	25.00	—	—	—	—	—	—
10	—	59.2%	11.16	11.10	12.50	27.50	1.40	2.05	1.42	51.7%	1	22
38	1	54.8%	10.10	9.50	10.20	30.00	2.05	2.80	2.75	50.1%	3	25
9	9	56.6%	6.55	8.00	9.20	32.50	2.95	3.80	3.90	53.6%	4	116
32	48	55.1%	5.90	6.50	7.90	35.00	4.00	4.50	5.80	48.7%	30	110
SM $37.00
41	2	54.9%	6.00	5.50	6.70	37.50	5.50	5.90	5.60	48.8%	6	8
41	5	51.8%	4.88	4.40	5.20	40.00	6.70	7.70	8.20	50.9%	2	3
15	17	53.9%	4.00	3.80	4.70	42.50	—	—	—	—	—	—
12	1	53.3%	3.10	3.00	4.00	45.00	—	—	—	—	—	—
7	3	53.5%	2.20	2.50	3.40	47.50	—	—	—	—	—	—
5	5	52.4%	1.05	1.15	2.10	55.00	—	—	—	—	—	—
85	7	51.8%	1.05	0.90	1.25	60.00	—	—	—	—	—	—

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 May 21, 2027 expiration, the SM put/call ratio based on open interest is 1.06 (328 puts vs 308 calls), and 0.91 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 May 21, 2027 is about 51.9%, 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.