SourcePut open interest divided by call open interest
As ofCboe delayed snapshot Nov 8, 7:02 PM ET
How66 put contracts / 21 call contracts = 3.14 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: 87 open contracts across 22 strikes. Max pain, walls and gamma print from 100 contracts across 5 strikes.
Event risk before this expiration: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: 87 open contracts across 22 strikes. Max pain, walls and gamma print from 100 contracts across 5 strikes.
Open interest by strike · Fri, Dec 11
■ calls (up)■ puts (down)DE 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 ≈ 42.6% · 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
0.89
-0.26
570
0.0019
0.39
-0.26
-0.11
0.87
-0.29
580
0.0022
0.45
-0.29
-0.13
0.84
-0.32
590
0.0025
0.50
-0.32
-0.15
0.79
-0.39
610
0.0031
0.61
-0.39
-0.21
0.75
-0.41
620
0.0034
0.66
-0.42
-0.25
0.72
-0.44
630
0.0037
0.70
-0.45
-0.28
0.68
-0.46
640
0.0040
0.75
-0.47
-0.32
0.55
-0.50
670
0.0045
0.82
-0.51
-0.46
0.50
-0.50
680
0.0046
0.83
-0.51
-0.50
0.46
-0.50
690
0.0046
0.83
-0.50
-0.55
0.41
-0.48
700
0.0045
0.81
-0.49
-0.59
0.29
-0.42
730
0.0040
0.72
-0.43
-0.72
0.22
-0.36
750
0.0035
0.63
-0.38
-0.79
0.20
-0.34
760
0.0032
0.58
-0.35
-0.82
0.17
-0.30
770
0.0029
0.53
-0.32
-0.85
Quoted contract greeks from the delayed feed (not modeled here); the highlighted row is nearest to spot. Showing 15 strikes around the money — all 22 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.