USA Rare Earth (USAR) Options Chain

NASDAQ: USARBasic MaterialsMetal MiningUSD

12.56-0.07 (-0.55%)

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

Expiration date

Expiration: Nov 20, 2026
Days to expiration: 40
Share price: $12.56
Put/call ratio (OI): 0.89
Put/call ratio (volume): 0.70
ATM implied volatility: 75.5%
Expected move: ±$3.14
Open interest (C / P): 13.63K / 12.20K

USAR options summary

The USAR options chain for the November 20, 2026 expiration lists 21 call and 21 put contracts, with 40 days until expiration. Open interest stands at 13,635 calls and 12,198 puts, a put/call ratio of 0.89, which is fairly balanced between calls and puts. At-the-money implied volatility near the $13.00 strike is 75.5%, which implies the market expects a move of about ±$3.14 (25.0%) in USA Rare Earth stock by expiration.

The most open interest sits at the $18.00 call (4.84K contracts) and the $14.00 put (5.58K contracts).

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

USAR options chain · November 20, 2026

USAR 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
18	2	118.8%	7.00	5.20	6.15	7.00	0.00	0.06	0.02	90.6%	—	15
—	—	—	—	—	—	8.00	0.02	0.25	0.03	99.6%	1	5
—	—	—	—	—	—	9.00	0.06	0.18	0.12	75.8%	1	42
227	1	83.0%	2.84	2.74	3.10	10.00	0.26	0.27	0.27	73.6%	83	72
49	3	81.0%	2.13	2.00	2.40	11.00	0.49	0.65	0.54	76.0%	64	513
15	45	78.5%	1.75	1.53	1.64	12.00	0.92	1.00	0.95	74.5%	76	800
USAR $12.56
317	85	78.3%	1.19	1.07	1.18	13.00	1.44	1.50	1.49	72.7%	886	2,764
774	247	78.1%	0.78	0.75	0.81	14.00	2.13	2.22	2.18	75.4%	130	5,581
1,563	795	78.4%	0.55	0.52	0.55	15.00	2.75	3.10	2.81	75.0%	221	1,054
968	201	80.2%	0.39	0.36	0.40	16.00	3.70	3.85	3.75	76.6%	41	857
1,215	53	82.6%	0.28	0.21	0.35	17.00	4.45	4.75	4.45	70.1%	23	222
4,837	39	83.4%	0.19	0.18	0.21	18.00	5.30	5.75	5.69	68.4%	1	85
333	7	87.5%	0.16	0.12	0.20	19.00	6.25	6.75	6.20	71.1%	1	83
2,008	623	89.8%	0.12	0.10	0.15	20.00	7.30	7.75	7.40	82.8%	8	61
178	8	90.2%	0.13	0.06	0.12	21.00	8.20	8.70	8.45	64.1%	2	14
107	33	97.7%	0.10	0.05	0.14	22.00	9.20	9.85	9.15	95.7%	2	22
97	10	98.8%	0.11	0.01	0.14	23.00	10.15	10.75	10.60	73.4%	1	6
393	1	101.6%	0.09	0.00	0.13	24.00	11.15	11.85	8.85	100.4%	1	1
394	1	105.5%	0.04	0.01	0.11	25.00	11.95	12.75	9.82	146.5%	—	1
—	—	—	0.07	—	—	26.00	—	—	—	—	—	—
75	45	111.3%	0.03	0.00	0.10	27.00	—	—	13.40	—	—	—
15	1	113.7%	0.01	0.00	0.09	28.00	—	—	—	—	—	—
52	1	123.4%	0.04	0.00	0.10	30.00	16.95	18.05	16.00	126.6%	—	0

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 USAR put/call ratio?

For the November 20, 2026 expiration, the USAR put/call ratio based on open interest is 0.89 (12,198 puts vs 13,635 calls), and 0.70 based on today's volume. A ratio above 1 means more puts than calls.

What is USAR's implied volatility?

At-the-money implied volatility for USAR options expiring November 20, 2026 is about 75.5%, an annualized estimate of how much the market expects USA Rare Earth stock to move.

How many USAR option expiration dates are there?

USAR has 11 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.