SourcePut open interest divided by call open interest
As ofCboe delayed snapshot Nov 2, 11:48 PM ET
How67 put contracts / 15 call contracts = 4.47 for the 2026-11-20 expiration. Open interest is published once a day, before the open, so it describes the previous session.
Too thin to read: 82 open contracts across 12 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 — macro releases historically overwhelm pinning effects; max pain reads weakest in event weeks.
Too thin to read: 82 open contracts across 12 strikes. Max pain, walls and gamma print from 100 contracts across 5 strikes.
Open interest by strike · Fri, Nov 20
■ calls (up)■ puts (down)FNDE open contracts per strike for Fri, Nov 20.
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, Nov 20
■ calls (up)■ puts (down)Today's traded contracts per strike (delayed).
Implied volatility by strike · Fri, Nov 20
— call IV— put IVATM ≈ 27.3% · Quoted strikes only; illiquid wings with junk fits are dropped, not smoothed.
Greeks by strike · Fri, Nov 20
Call Δ
Call Θ
Strike
Γ
Vega
Put Θ
Put Δ
0.99
-0.00
29
0.0037
0.00
-0.00
-0.01
0.99
-0.00
30
0.0050
0.00
-0.00
-0.01
0.97
-0.01
33
0.0127
0.01
-0.01
-0.02
0.97
-0.01
34
0.0179
0.01
-0.01
-0.03
0.95
-0.01
35
0.0257
0.01
-0.01
-0.05
0.77
-0.02
39
0.1243
0.03
-0.02
-0.24
0.63
-0.02
40
0.1656
0.03
-0.02
-0.37
0.30
-0.02
42
0.1484
0.03
-0.02
-0.71
0.20
-0.02
43
0.1090
0.03
-0.02
-0.81
0.13
-0.02
44
0.0772
0.02
-0.02
-0.88
0.09
-0.01
45
0.0550
0.01
-0.01
-0.92
0.05
-0.01
47
0.0295
0.01
-0.01
-0.96
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.