SourcePut open interest divided by call open interest
As ofCboe delayed snapshot Nov 10, 8:20 PM ET
How7 put contracts / 24 call contracts = 0.29 for the 2027-01-15 expiration. Open interest is published once a day, before the open, so it describes the previous session.
Too thin to read: 31 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, 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: 31 open contracts across 13 strikes. Max pain, walls and gamma print from 100 contracts across 5 strikes.
Open interest by strike · Fri, Jan 15
■ calls (up)■ puts (down)DJP open contracts per strike for Fri, Jan 15.
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, Jan 15
Implied volatility by strike · Fri, Jan 15
— call IV— put IVATM ≈ 23.0% · Quoted strikes only; illiquid wings with junk fits are dropped, not smoothed.
Greeks by strike · Fri, Jan 15
Call Δ
Call Θ
Strike
Γ
Vega
Put Θ
Put Δ
0.82
-0.01
42
0.0325
0.05
-0.02
-0.18
0.76
-0.01
44
0.0449
0.06
-0.01
-0.23
0.46
-0.01
49
0.0792
0.08
-0.01
-0.54
0.39
-0.01
50
0.0737
0.08
-0.01
-0.61
0.34
-0.01
51
0.0658
0.07
-0.01
-0.66
0.29
-0.01
52
0.0580
0.07
-0.01
-0.71
0.26
-0.01
53
0.0511
0.07
-0.01
-0.74
0.23
-0.01
54
0.0452
0.06
-0.01
-0.77
0.21
-0.01
55
0.0402
0.06
-0.01
-0.79
0.19
-0.01
56
0.0361
0.06
-0.01
-0.81
Quoted contract greeks from the delayed feed (not modeled here); the highlighted row is nearest to spot. Showing 10 strikes around the money — all 13 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.