SourcePut open interest divided by call open interest
As ofCboe delayed snapshot Nov 10, 10:17 PM ET
How7 put contracts / 67 call contracts = 0.10 for the 2027-03-19 expiration. Open interest is published once a day, before the open, so it describes the previous session.
Too thin to read: 74 open contracts across 20 strikes. Max pain, walls and gamma print from 100 contracts across 5 strikes.
Event risk before this expiration:Jobs report Fri, Dec 4 · FOMC decision Wed, Dec 9 · CPI release Thu, Dec 10 — macro releases historically overwhelm pinning effects; max pain reads weakest in event weeks.
Too thin to read: 74 open contracts across 20 strikes. Max pain, walls and gamma print from 100 contracts across 5 strikes.
Open interest by strike · Fri, Mar 19
■ calls (up)■ puts (down)AIZ open contracts per strike for Fri, Mar 19.
Open-interest change: building vs unwinding
Needs two observed snapshot days for this expiration; the comparison appears automatically once the next weekday snapshot lands. We diff real observations only; nothing is estimated.
Volume by strike · Fri, Mar 19
Implied volatility by strike · Fri, Mar 19
— call IV— put IVATM ≈ 23.4% · Quoted strikes only; illiquid wings with junk fits are dropped, not smoothed.
Greeks by strike · Fri, Mar 19
Call Δ
Call Θ
Strike
Γ
Vega
Put Θ
Put Δ
0.94
-0.02
240
0.0017
0.21
-0.03
-0.06
0.93
-0.02
250
0.0022
0.27
-0.03
-0.07
0.90
-0.03
260
0.0029
0.33
-0.04
-0.10
0.87
-0.04
270
0.0037
0.40
-0.04
-0.13
0.79
-0.05
290
0.0057
0.56
-0.06
-0.21
0.73
-0.06
300
0.0069
0.63
-0.06
-0.28
0.65
-0.06
310
0.0079
0.70
-0.07
-0.35
0.57
-0.07
320
0.0088
0.75
-0.07
-0.44
0.48
-0.07
330
0.0092
0.76
-0.07
-0.53
0.39
-0.06
340
0.0091
0.73
-0.06
-0.63
0.31
-0.06
350
0.0084
0.67
-0.06
-0.72
0.23
-0.05
360
0.0074
0.59
-0.05
-0.80
0.17
-0.04
370
0.0062
0.50
-0.04
-0.87
Quoted contract greeks from the delayed feed (not modeled here); the highlighted row is nearest to spot. Showing 13 strikes around the money — all 20 are in the CSV. Δ per $1 of underlying · Θ per day · vega per IV point.
Stacked — layer the expirations
Call open interest per strike, stacked across the checked expirations — each color is one expiry. Strikes are pruned to the liquid center of each chain.
Max pain is arithmetic, not prophecy: the settle price that would minimize what option writers pay out at expiration, computed from open interest alone. Prices sometimes gravitate toward heavy strikes into expiry — dealer hedging is a real flow — but the evidence that max pain predicts settlement better than chance is mixed, and we are not going to pretend otherwise. Use it as a map of where positioning is stacked, next to the fundamentals and the earnings calendar, not as a target.
Max pain, walls and gamma print only when an expiration holds at least 100 open contracts across 5 strikes, and max pain also needs to stay within 5% of spot when its single heaviest strike is removed. Below that the expiration reads as thin rather than printing a level one trade could move.
Data: Cboe delayed public feed (~15 minutes), refreshed here about every 15 minutes. Open interest itself updates once daily, before the open. Educational information, not investment advice.