Look at an options chain
On this page
An option is a contract that gives its holder the right, but not the duty, to buy or sell a stock at a set price before a set date. The Options tab shows every such contract listed for a stock or ETF, laid out as an options chain.
#Open the chain
Open a stock or ETF's page and select Options. Stocks and ETFs have this tab; indexes, coins and currencies do not.
The options chain for one expiration. Calls are on the left, puts on the right, and the strike prices are in the middle.
- 1Choose an expiration date
- 2Calls
- 3Strike price
- 4Puts
- 5Shaded rows are in the money
- Use the Expiration menu to choose a date. Each date shows how many days are left, such as (2d). The chain changes in place.
- Read the line beside the menu: the Underlying price of the stock and its 30-day implied volatility.
- Find the strike price you want in the middle column. Calls are to its left and puts to its right.
#What the columns mean
| Column | Meaning |
|---|---|
| Strike | The price at which the holder could buy (a call) or sell (a put) the stock |
| Last | The price of the most recent trade of the contract |
| Bid and Ask | The highest price a buyer offers and the lowest a seller wants |
| Vol | Contracts traded today |
| OI | Open interest: contracts that are still open |
| IV | Implied volatility: how much the contract's price implies the stock will move |
Calls gain value when the stock rises; puts gain when it falls. A row is shaded when its contract is in the money, meaning it would already have value if used now. The chain shows about fifteen strikes below and above the current price.
#Keep in mind
The data is delayed, and the page says so under the table together with the time of the last snapshot. Option prices can differ a lot from the last trade, and contracts that rarely trade may show dashes. Options are risky and this is not advice to trade them.
#Common questions
Why does the page say no options were found?
Not every stock has listed options. The page says when none were found for the symbol.
Can I place a trade from here?
No. Finance is for information; it does not trade.
Why are some IV figures blank?
Implied volatility is left blank for a contract when none is available for it, which happens most often with contracts that rarely trade.