SourcePut open interest divided by call open interest
As ofCboe delayed snapshot Nov 10, 8:53 PM ET
How16 put contracts / 18 call contracts = 0.89 for the 2027-04-16 expiration. Open interest is published once a day, before the open, so it describes the previous session.
Too thin to read: 34 open contracts across 11 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: 34 open contracts across 11 strikes. Max pain, walls and gamma print from 100 contracts across 5 strikes.
Open interest by strike · Fri, Apr 16
■ calls (up)■ puts (down)GPOR open contracts per strike for Fri, Apr 16.
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, Apr 16
Implied volatility by strike · Fri, Apr 16
— call IV— put IVATM ≈ 31.8% · Quoted strikes only; illiquid wings with junk fits are dropped, not smoothed.
Greeks by strike · Fri, Apr 16
Call Δ
Call Θ
Strike
Γ
Vega
Put Θ
Put Δ
0.89
-0.01
125
0.0047
0.20
-0.02
-0.11
0.86
-0.02
130
0.0056
0.23
-0.03
-0.14
0.83
-0.02
135
0.0066
0.27
-0.03
-0.17
0.79
-0.03
140
0.0078
0.30
-0.03
-0.21
0.75
-0.03
145
0.0089
0.33
-0.04
-0.25
0.70
-0.03
150
0.0100
0.36
-0.04
-0.30
0.65
-0.04
155
0.0109
0.39
-0.04
-0.36
0.42
-0.04
175
0.0118
0.41
-0.04
-0.60
0.37
-0.04
180
0.0113
0.40
-0.04
-0.65
0.21
-0.03
200
0.0082
0.31
-0.03
-0.82
0.13
-0.03
220
0.0056
0.23
-0.02
-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.