SourcePut open interest divided by call open interest
As ofCboe delayed snapshot Nov 10, 8:28 PM ET
How35 put contracts / 58 call contracts = 0.60 for the 2027-02-19 expiration. Open interest is published once a day, before the open, so it describes the previous session.
Too thin to read: 93 open contracts across 21 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: 93 open contracts across 21 strikes. Max pain, walls and gamma print from 100 contracts across 5 strikes.
Open interest by strike · Fri, Feb 19
■ calls (up)■ puts (down)GL open contracts per strike for Fri, Feb 19.
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, Feb 19
Implied volatility by strike · Fri, Feb 19
— call IV— put IVATM ≈ 24.1% · Quoted strikes only; illiquid wings with junk fits are dropped, not smoothed.
Greeks by strike · Fri, Feb 19
Call Δ
Call Θ
Strike
Γ
Vega
Put Θ
Put Δ
0.91
-0.02
130
0.0052
0.15
-0.03
-0.10
0.88
-0.02
135
0.0065
0.17
-0.03
-0.12
0.85
-0.03
140
0.0082
0.20
-0.03
-0.15
0.82
-0.03
145
0.0103
0.23
-0.03
-0.18
0.77
-0.03
150
0.0128
0.26
-0.04
-0.23
0.70
-0.04
155
0.0155
0.30
-0.04
-0.30
0.62
-0.04
160
0.0180
0.33
-0.04
-0.39
0.53
-0.04
165
0.0194
0.34
-0.04
-0.48
0.43
-0.04
170
0.0193
0.34
-0.04
-0.58
0.35
-0.04
175
0.0179
0.32
-0.04
-0.67
0.22
-0.03
185
0.0135
0.26
-0.03
-0.81
0.18
-0.03
190
0.0113
0.23
-0.03
-0.86
0.12
-0.02
200
0.0080
0.17
-0.02
-0.93
0.08
-0.02
210
0.0056
0.13
-0.03
-0.98
0.06
-0.01
220
0.0040
0.10
-0.02
-1.00
Quoted contract greeks from the delayed feed (not modeled here); the highlighted row is nearest to spot. Showing 15 strikes around the money — all 21 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.