SourcePut open interest divided by call open interest
As ofCboe delayed snapshot Nov 10, 8:24 PM ET
How23 put contracts / 63 call contracts = 0.37 for the 2026-12-18 expiration. Open interest is published once a day, before the open, so it describes the previous session.
Too thin to read: 86 open contracts across 14 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: 86 open contracts across 14 strikes. Max pain, walls and gamma print from 100 contracts across 5 strikes.
Open interest by strike · Fri, Dec 18
■ calls (up)■ puts (down)ALG open contracts per strike for Fri, Dec 18.
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, Dec 18
Implied volatility by strike · Fri, Dec 18
— call IV— put IVATM ≈ 27.0% · Quoted strikes only; illiquid wings with junk fits are dropped, not smoothed.
Greeks by strike · Fri, Dec 18
Call Δ
Call Θ
Strike
Γ
Vega
Put Θ
Put Δ
0.95
-0.03
105
0.0039
0.05
-0.03
-0.05
0.94
-0.04
110
0.0053
0.06
-0.04
-0.06
0.92
-0.04
115
0.0072
0.07
-0.04
-0.08
0.78
-0.06
130
0.0197
0.14
-0.06
-0.22
0.68
-0.06
135
0.0269
0.16
-0.06
-0.33
0.53
-0.06
140
0.0325
0.18
-0.07
-0.47
0.37
-0.06
145
0.0310
0.17
-0.06
-0.64
0.26
-0.06
150
0.0246
0.15
-0.06
-0.76
0.18
-0.05
155
0.0184
0.12
-0.05
-0.83
0.07
-0.03
175
0.0066
0.06
-0.03
-0.95
0.06
-0.03
180
0.0053
0.05
-0.03
-0.96
0.05
-0.03
185
0.0044
0.04
-0.03
-0.97
0.04
-0.02
195
0.0032
0.04
-0.02
-0.98
Quoted contract greeks from the delayed feed (not modeled here); the highlighted row is nearest to spot. Showing 13 strikes around the money — all 14 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.