SourcePut open interest divided by call open interest
As ofCboe delayed snapshot Nov 3, 9:46 AM ET
How15 put contracts / 31 call contracts = 0.48 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: 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 · 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: 46 open contracts across 13 strikes. Max pain, walls and gamma print from 100 contracts across 5 strikes.
Open interest by strike · Fri, Dec 11
■ calls (up)■ puts (down)FXI 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
Implied volatility by strike · Fri, Dec 11
— call IV— put IVATM ≈ 24.5% · 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
0.91
-0.01
29
0.0429
0.02
-0.01
-0.09
0.89
-0.01
29.5
0.0513
0.02
-0.01
-0.11
0.81
-0.01
31
0.0860
0.03
-0.01
-0.19
0.77
-0.01
31.5
0.1006
0.03
-0.01
-0.23
0.72
-0.01
32
0.1160
0.04
-0.01
-0.28
0.66
-0.01
32.5
0.1309
0.04
-0.01
-0.34
0.52
-0.01
33.5
0.1502
0.04
-0.01
-0.49
0.38
-0.01
34.5
0.1437
0.04
-0.01
-0.64
0.26
-0.01
35.5
0.1181
0.04
-0.01
-0.76
0.21
-0.01
36
0.1035
0.03
-0.01
-0.81
0.17
-0.01
36.5
0.0893
0.03
-0.01
-0.85
0.14
-0.01
37
0.0763
0.02
-0.01
-0.89
0.11
-0.01
37.5
0.0646
0.02
-0.01
-0.92
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.