The last price of the SPY ET is 151.76 as quote on the top right. So that being said we have noted what calls and puts are: ITM, ATM and OTM. There is a bid and ask for both the call side on the left and the put side on the right.
What you don't see on this options chain photo is the greeks. Depending on how advanced your trading gets you may or may not need them. For many of our courses and for many retail traders, they are simply not that important and can get a bit confusing.
We like to focus on Delta. The delta is a ratio comparing the change in the price of an asset to the corresponding change in the price of its option. For example, if Apple Stock has a delta value of 0.65, this means that if the underlying stock increases in price by $1 per share, the option it will rise by $0.65 per share, all else being equal.
There is a lot that goes into option pricing so I’ll just cover the basics here. The main factors contributing to option pricing are time to expiration, implied volatility and its intrinsic value. The longer the time till expiration the more expensive the contracts will be because it has more time to reach or go past the strike price. As time goes by time decay (theta) will start to erode the option prices which will really start to kick in on the last week before it expires.
Implied volatility is what the market thinks about the price range of the underlying security. So if there is a high implied volatility then the market thinks there will be a big move in the underlying and vice versa for low implied volatility. When a company is coming close to releasing their earnings you will see implied volatility levels climbing into the earnings announcement and then deflate after it is released sucking a lot of premium out of the option prices. Shark Bite: You want to avoid buying calls and puts the day off earnings because the IV increases so much that the likely hood of making money is slim, even while getting the direction right.