A chain is just a menu of option choices at different strikes. Watch how picking a longer-dated versus shorter-dated expiration changes every price. Spot is a fixed $420 on TSLA (illustrative), so you can focus on one thing at a time.
The chain
Strike
Call price
Call delta
Put price
Put delta
Moneyness
Choose your expiration
A call row is labelled by where the stock is versus its strike: ITM (already in the money), ATM (at the money, nearest spot), OTM (out of the money).
Long-dated vs short-dated
Plain EnglishA longer expiration costs more because you are buying more time for the move to happen; that extra money is time value. A short-dated option is cheaper, but its time value bleeds away fast as the clock runs down. Same strike, same stock- the only thing you changed was how long you gave yourself to be right.
Three things to know about the options chain:
Longer-dated is pricier but more forgiving. In practice a further-out expiration costs more up front, and in return it generally gives the stock more time to move your way before it expires.
Every call row still has a capped max loss. As a rough guide, not a promise, the most a long call can lose is the premium you paid for it, no matter which strike or expiration you pick.
The chain is a menu, not a recommendation. It lays out the choices and their prices; which one fits depends on your view and your risk, and none of these rows is advice to buy.
Taxes are not shown here. Options and the underlying stock are taxed differently, and it depends on your holding period and account type. None of this is tax advice.