IBM Options
IBM $252.57 · Updated Oct 26, 4:00 PM ET
IBM is at $252.57. The nearest expiration, Oct 30, 2026 (4 days out), lists 63 strikes, with 9,447 calls and 3,294 puts traded in the latest session. At-the-money implied volatility is 38.0%. The at-the-money straddle prices a move of about $8.13 (3.2%) by expiration.
IBM Options Chain
IBM is at $252.57. The nearest expiration, Oct 30, 2026 (4 days out), lists 63 strikes, with 9,447 calls and 3,294 puts traded in the latest session. At-the-money implied volatility is 38.0%. The at-the-money straddle prices a move of about $8.13 (3.2%) by expiration.
IBM Gamma Exposure (GEX)
IBM total dealer gamma exposure is $51M across all listed expirations. Positive GEX means dealers are net long gamma; their hedging tends to dampen price moves. The gamma flip is $232.73, with spot 8.5% above it. The call wall is $260.00 and the put wall $250.00.
IBM Max Pain
IBM max pain for Oct 30, 2026 (4 days out) is $240.00, 5.0% below the current $252.57. That is the settlement price at which the open contracts on that date would pay holders the least. For Nov 27, 2026, max pain is $240.00.
IBM Put/Call Ratio
Across every listed IBM expiration, the put/call ratio is 0.45 by volume and 0.74 by open interest. More calls than puts are trading. 162,324 puts and 218,421 calls are open in total.
IBM Implied Volatility
IBM at-the-money implied volatility is 38.0% for Oct 30, 2026 (4 days out). For Nov 27, 2026 it is 32.5%. Near-term volatility is priced above longer-dated volatility, an inverted term structure that usually accompanies an event or stress.
IBM Open Interest by Strike
Across all IBM expirations, the largest call open interest near the current $252.57 sits at the $260.00 strike (16,878 contracts) and the largest put open interest at $220.00 (14,432). 218,421 calls and 162,324 puts are open in total.
IBM Expected Move
The options market prices IBM to move about $8.13 (3.2%) by Oct 30, 2026, a range of $244.44 to $260.69. For Nov 27, 2026 (32 days out) the expected move is $19.63 (7.8%).