SourcePut open interest divided by call open interest
As ofCboe delayed snapshot Nov 10, 8:58 PM ET
How22 put contracts / 74 call contracts = 0.30 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: 96 open contracts across 18 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: 96 open contracts across 18 strikes. Max pain, walls and gamma print from 100 contracts across 5 strikes.
Open interest by strike · Fri, Mar 19
■ calls (up)■ puts (down)DCO 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 ≈ 50.4% · 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
90
0.0022
0.10
-0.02
-0.06
0.93
-0.02
95
0.0028
0.12
-0.03
-0.08
0.91
-0.03
100
0.0034
0.15
-0.03
-0.09
0.86
-0.04
110
0.0047
0.20
-0.04
-0.14
0.83
-0.04
115
0.0054
0.22
-0.05
-0.17
0.72
-0.06
130
0.0076
0.29
-0.06
-0.28
0.68
-0.06
135
0.0081
0.31
-0.06
-0.33
0.54
-0.06
150
0.0092
0.34
-0.07
-0.47
0.41
-0.06
165
0.0092
0.34
-0.06
-0.60
0.30
-0.06
180
0.0082
0.30
-0.06
-0.72
0.27
-0.05
185
0.0078
0.29
-0.05
-0.76
0.24
-0.05
190
0.0073
0.27
-0.05
-0.79
0.21
-0.05
195
0.0069
0.25
-0.05
-0.82
0.19
-0.04
200
0.0064
0.23
-0.04
-0.85
0.15
-0.04
210
0.0054
0.20
-0.04
-0.89
Quoted contract greeks from the delayed feed (not modeled here); the highlighted row is nearest to spot. Showing 15 strikes around the money — all 18 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.