SourcePut open interest divided by call open interest
As ofCboe delayed snapshot Nov 3, 6:09 AM ET
How45 put contracts / 11 call contracts = 4.09 for the 2026-12-11 expiration. Open interest is published once a day, before the open, so it describes the previous session.
Too thin to read: 56 open contracts across 13 strikes. Max pain, walls and gamma print from 100 contracts across 5 strikes.
Event risk before this expiration:Jobs report Fri, Nov 6 · CPI release Tue, Nov 10 · 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: 56 open contracts across 13 strikes. Max pain, walls and gamma print from 100 contracts across 5 strikes.
Open interest by strike · Fri, Dec 11
■ calls (up)■ puts (down)BOIL open contracts per strike for Fri, Dec 11.
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 11
■ calls (up)■ puts (down)Today's traded contracts per strike (delayed).
Implied volatility by strike · Fri, Dec 11
— call IV— put IVATM ≈ 113.4% · Quoted strikes only; illiquid wings with junk fits are dropped, not smoothed.
Greeks by strike · Fri, Dec 11
Call Δ
Call Θ
Strike
Γ
Vega
Put Θ
Put Δ
0.94
-0.01
10
0.0222
0.01
-0.01
-0.07
0.80
-0.02
13
0.0521
0.01
-0.02
-0.21
0.77
-0.02
13.5
0.0567
0.02
-0.02
-0.24
0.73
-0.02
14
0.0607
0.02
-0.02
-0.28
0.70
-0.03
14.5
0.0640
0.02
-0.03
-0.31
0.63
-0.03
15.5
0.0684
0.02
-0.03
-0.39
0.59
-0.03
16
0.0696
0.02
-0.03
-0.42
0.50
-0.03
17.5
0.0694
0.02
-0.03
-0.52
0.47
-0.03
18
0.0685
0.02
-0.03
-0.55
0.44
-0.03
18.5
0.0672
0.02
-0.03
-0.58
0.41
-0.03
19
0.0657
0.02
-0.03
-0.60
0.36
-0.03
20
0.0621
0.02
-0.03
-0.65
0.29
-0.03
22
0.0541
0.02
-0.03
-0.73
Quoted contract greeks from the delayed feed (not modeled here); the highlighted row is nearest to spot. 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.