SourcePut open interest divided by call open interest
As ofCboe delayed snapshot Nov 10, 7:07 PM ET
How40 put contracts / 57 call contracts = 0.70 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: 97 open contracts across 28 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: 97 open contracts across 28 strikes. Max pain, walls and gamma print from 100 contracts across 5 strikes.
Open interest by strike · Fri, Dec 11
■ calls (up)■ puts (down)ETSY 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 ≈ 52.8% · 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
0.75
-0.07
79
0.0233
0.08
-0.07
-0.25
0.72
-0.07
80
0.0247
0.08
-0.07
-0.28
0.70
-0.07
81
0.0260
0.09
-0.07
-0.30
0.67
-0.08
82
0.0272
0.09
-0.08
-0.33
0.64
-0.08
83
0.0282
0.09
-0.08
-0.36
0.61
-0.08
84
0.0292
0.10
-0.08
-0.39
0.58
-0.08
85
0.0299
0.10
-0.08
-0.42
0.55
-0.08
86
0.0304
0.10
-0.08
-0.45
0.49
-0.08
88
0.0309
0.10
-0.08
-0.51
0.46
-0.08
89
0.0308
0.10
-0.08
-0.54
0.43
-0.08
90
0.0306
0.10
-0.08
-0.57
0.40
-0.08
91
0.0301
0.10
-0.08
-0.60
0.37
-0.08
92
0.0295
0.10
-0.08
-0.63
0.35
-0.08
93
0.0287
0.09
-0.08
-0.66
0.32
-0.07
94
0.0278
0.09
-0.07
-0.68
Quoted contract greeks from the delayed feed (not modeled here); the highlighted row is nearest to spot. Showing 15 strikes around the money — all 28 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.