Steel Dynamics (STLD) Options Chain

NASDAQ: STLDIndustrialsSteel/Iron OreUSD

238.38+4.21 (+1.80%)

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

Expiration date

Expiration: Jan 21, 2028
Days to expiration: 469
Share price: $238.38
Put/call ratio (OI): 0.61
Put/call ratio (volume): 0.95
ATM implied volatility: 40.8%
Expected move: ±$110.32
Open interest (C / P): 1.77K / 1.07K

STLD options summary

The STLD options chain for the January 21, 2028 expiration lists 46 call and 28 put contracts, with 469 days until expiration. Open interest stands at 1,767 calls and 1,071 puts, a put/call ratio of 0.61, which is tilted bullish, with calls outnumbering puts. At-the-money implied volatility near the $240.00 strike is 40.8%, which implies the market expects a move of about ±$110.32 (46.3%) in Steel Dynamics stock by expiration.

The most open interest sits at the $310.00 call (655 contracts) and the $195.00 put (630 contracts).

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

STLD options chain · January 21, 2028

STLD 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
30	30	—	100.00	105.00	108.50	70.00	0.00	4.50	1.80	68.0%	28	14
1	—	84.9%	199.00	167.60	172.50	75.00	—	—	—	—	—	—
4	4	69.3%	153.58	160.00	164.50	80.00	0.00	2.35	1.03	53.7%	1	1
82	81	67.9%	160.50	155.50	160.00	85.00	—	—	—	—	—	—
11	1	66.5%	154.00	151.00	155.50	90.00	4.80	5.90	5.25	68.3%	2	3
5	1	63.4%	152.30	142.00	146.50	100.00	5.80	8.90	5.40	68.0%	2	0
4	3	—	85.04	103.00	107.10	105.00	1.50	6.00	4.60	53.4%	2	3
5	2	—	85.35	98.50	102.50	110.00	9.00	13.10	11.85	70.9%	—	1
3	1	120.9%	120.52	159.00	163.50	115.00	1.10	4.10	2.85	49.4%	4	10
0	1	—	114.50	0.00	0.00	120.00	0.00	0.00	5.40	12.5%	—	0
6	4	—	82.50	63.00	67.50	125.00	0.00	0.00	5.00	12.5%	—	0
0	1	—	106.50	0.00	0.00	130.00	4.50	8.90	7.38	54.1%	1	0
8	1	54.6%	113.45	108.00	112.50	140.00	—	—	—	—	—	—
10	1	53.7%	100.70	104.00	108.50	145.00	—	—	—	—	—	—
55	3	52.8%	109.02	100.00	104.50	150.00	—	—	—	—	—	—
0	1	—	112.00	0.00	0.00	155.00	—	—	—	—	—	—
0	1	—	119.00	0.00	0.00	160.00	0.00	0.00	12.40	6.3%	—	0
0	—	—	60.60	0.00	0.00	165.00	7.50	12.00	9.80	42.5%	1	19
2	1	—	54.65	38.50	42.90	170.00	8.60	13.00	13.40	41.6%	32	42
0	6	—	71.00	0.00	0.00	175.00	—	—	—	—	—	—
0	1	—	99.88	0.00	0.00	180.00	11.60	15.50	13.40	40.5%	—	2
10	16	53.1%	110.77	76.50	80.10	190.00	—	—	—	—	—	—
16	2	50.0%	68.50	69.30	73.00	195.00	20.00	24.50	26.15	44.2%	168	630
0	1	—	82.00	0.00	0.00	200.00	22.00	26.50	29.50	44.0%	1	32
153	1	48.5%	60.60	60.40	64.00	210.00	21.60	25.40	22.41	37.7%	3	5
11	10	51.9%	84.00	58.50	62.70	220.00	24.50	29.50	33.00	37.0%	1	32
0	1	—	79.04	0.00	0.00	230.00	29.00	34.00	32.89	36.2%	30	31
STLD $238.38
109	3	46.1%	48.00	44.90	48.50	240.00	34.30	39.00	37.10	35.6%	11	12
153	11	45.9%	45.00	40.00	44.50	250.00	39.90	44.50	45.00	35.0%	9	18
99	100	45.4%	32.25	36.00	40.50	260.00	56.40	59.50	48.80	43.0%	2	21
11	5	45.1%	33.60	34.00	37.00	270.00	62.60	66.00	49.60	42.7%	7	22
12	1	43.2%	41.40	27.50	32.00	280.00	58.50	63.00	60.60	33.3%	2	154
24	1	44.4%	28.00	27.50	30.50	290.00	74.50	79.00	56.50	41.5%	1	3
16	3	44.4%	26.00	24.50	28.00	300.00	82.50	86.00	63.30	41.0%	—	14
655	1	44.2%	21.00	20.50	25.50	310.00	80.00	84.50	81.60	31.5%	—	1
121	9	43.8%	24.20	18.50	23.00	320.00	88.00	92.50	93.50	31.1%	1	1
16	2	43.7%	22.00	16.50	21.00	330.00	—	—	—	—	—	—
6	1	43.4%	19.70	14.50	19.00	340.00	—	—	—	—	—	—
67	2	43.5%	19.32	12.50	17.50	350.00	—	—	—	—	—	—
6	—	43.5%	17.60	11.50	16.00	360.00	—	—	—	—	—	—
1	—	43.6%	18.50	10.50	14.80	370.00	—	—	—	—	—	—
0	1	6.3%	23.40	0.00	0.00	380.00	—	—	—	—	—	—
1	1	43.5%	12.00	7.40	11.30	400.00	—	—	—	—	—	—
51	8	43.9%	14.10	7.00	10.70	410.00	—	—	—	—	—	—
2	1	43.5%	8.30	5.80	9.50	420.00	—	—	—	—	—	—
1	—	44.9%	12.00	5.50	9.70	430.00	—	—	—	—	—	—

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 STLD put/call ratio?

For the January 21, 2028 expiration, the STLD put/call ratio based on open interest is 0.61 (1,071 puts vs 1,767 calls), and 0.95 based on today's volume. A ratio above 1 means more puts than calls.

What is STLD's implied volatility?

At-the-money implied volatility for STLD options expiring January 21, 2028 is about 40.8%, an annualized estimate of how much the market expects Steel Dynamics stock to move.

How many STLD option expiration dates are there?

STLD has 11 listed expiration dates, from Oct 16, 2026 to Dec 15, 2028.

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.