An option chain is a table (or grid) showing all available options for a stock. Every broker shows option chains when you select a stock.
Left side: All available put options Right side: All available call options Rows: Different strike prices Columns: Columns for each expiration date (monthly, weekly, etc.)
Bid/Ask: The current buy/sell prices
IV (Implied Volatility): The market's volatility forecast
Delta: How much the option moves with the stock
Gamma: How fast delta changes
Theta: Time decay per day
Vega: Volatility sensitivity
Find the row where strike price equals current stock price. That's the at-the-money (ATM) options. All strikes above ATM are OTM calls or ITM puts. All strikes below ATM are ITM calls or OTM puts.
Most traders browse the chain, find a strategy (e.g., "sell puts"), click the strike they want, enter an order.
The chain shows volume (today's trades) and open interest (total open contracts). Choose high volume strikes for better prices.
Related: Options Exchange, Strike Price, Expiration Date
