SourcePut open interest divided by call open interest
As ofCboe delayed snapshot Nov 10, 6:38 PM ET
How5,701 put contracts / 10,039 call contracts = 0.57 for the 2026-11-20 expiration. Open interest is published once a day, before the open, so it describes the previous session.
SourceNet gamma exposure from Cboe greeks and open interest
As ofCboe delayed snapshot Nov 10, 6:38 PM ET
HowOver every strike with open interest for the 2026-11-20 expiration: (call gamma × call OI minus put gamma × put OI) × 100 × spot² × 1%, summed. Calls count as positive and puts as negative, a convention about who holds the other side, not a measurement.
Max pain is not shown: without its single heaviest strike it moves 7.1% of spot, more than the 5% we allow, so one strike decides it. Walls and gamma still print.
Max pain is not shown: without its single heaviest strike it moves 7.1% of spot, more than the 5% we allow, so one strike decides it. Walls and gamma still print.
Open interest by strike · Fri, Nov 20
■ calls (up)■ puts (down)BROS open contracts per strike for Fri, Nov 20.
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, Nov 20
■ calls (up)■ puts (down)Today's traded contracts per strike (delayed).
Implied volatility by strike · Fri, Nov 20
— call IV— put IVATM ≈ 48.4% · Quoted strikes only; illiquid wings with junk fits are dropped, not smoothed.
Gamma exposure by strike · Fri, Nov 20
Net dealer gamma per strike, in dollars per 1% move, assuming the standard convention (dealers long calls, short puts) — an assumption, not an observation. Above the amber flip level hedging tends to dampen moves; below it, to amplify them.
Greeks by strike · Fri, Nov 20
Call Δ
Call Θ
Strike
Γ
Vega
Put Θ
Put Δ
0.87
-0.03
32
0.0646
0.01
-0.04
-0.13
0.83
-0.04
32.5
0.0770
0.01
-0.04
-0.17
0.79
-0.04
33
0.0900
0.02
-0.05
-0.21
0.75
-0.05
33.5
0.1028
0.02
-0.05
-0.26
0.69
-0.06
34
0.1145
0.02
-0.06
-0.31
0.63
-0.06
34.5
0.1241
0.02
-0.06
-0.37
0.57
-0.06
35
0.1307
0.02
-0.06
-0.44
0.50
-0.06
35.5
0.1335
0.02
-0.06
-0.50
0.44
-0.06
36
0.1324
0.02
-0.06
-0.57
0.37
-0.06
36.5
0.1274
0.02
-0.06
-0.63
0.31
-0.05
37
0.1193
0.02
-0.05
-0.69
0.26
-0.05
37.5
0.1088
0.02
-0.05
-0.75
0.21
-0.04
38
0.0970
0.02
-0.04
-0.80
0.17
-0.04
38.5
0.0847
0.01
-0.04
-0.84
0.14
-0.03
39
0.0727
0.01
-0.03
-0.87
Quoted contract greeks from the delayed feed (not modeled here); the highlighted row is nearest to spot. Showing 15 strikes around the money — all 42 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.