SourcePut open interest divided by call open interest
As ofCboe delayed snapshot Nov 2, 6:24 PM ET
How37 put contracts / 9 call contracts = 4.11 for the 2026-12-04 expiration. Open interest is published once a day, before the open, so it describes the previous session.
Too thin to read: 46 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, Nov 6 · CPI release Tue, Nov 10 · Jobs report Fri, Dec 4 — macro releases historically overwhelm pinning effects; max pain reads weakest in event weeks.
Too thin to read: 46 open contracts across 13 strikes. Max pain, walls and gamma print from 100 contracts across 5 strikes.
Open interest by strike · Fri, Dec 4
■ calls (up)■ puts (down)EWJ open contracts per strike for Fri, Dec 4.
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 4
■ calls (up)■ puts (down)Today's traded contracts per strike (delayed).
Implied volatility by strike · Fri, Dec 4
— call IV— put IVATM ≈ 23.4% · Quoted strikes only; illiquid wings with junk fits are dropped, not smoothed.
Greeks by strike · Fri, Dec 4
Call Δ
Call Θ
Strike
Γ
Vega
Put Θ
Put Δ
0.80
-0.03
87
0.0346
0.08
-0.04
-0.20
0.74
-0.04
89
0.0442
0.09
-0.04
-0.27
0.69
-0.04
90
0.0493
0.10
-0.04
-0.31
0.65
-0.04
91
0.0542
0.10
-0.04
-0.36
0.62
-0.04
91.5
0.0564
0.10
-0.04
-0.39
0.47
-0.04
94
0.0619
0.11
-0.04
-0.54
0.26
-0.03
98
0.0485
0.09
-0.04
-0.76
0.24
-0.03
98.5
0.0460
0.09
-0.03
-0.79
0.22
-0.03
99
0.0435
0.08
-0.03
-0.80
0.15
-0.03
101.5
0.0322
0.07
-0.03
-0.88
0.14
-0.03
102
0.0302
0.06
-0.03
-0.89
0.13
-0.02
103
0.0267
0.06
-0.03
-0.91
0.06
-0.02
109
0.0133
0.03
-0.02
-0.97
Quoted contract greeks from the delayed feed (not modeled here); the highlighted row is nearest to spot. 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.