SourcePut open interest divided by call open interest
As ofCboe delayed snapshot Nov 4, 10:30 PM ET
How10 put contracts / 31 call contracts = 0.32 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: 41 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: 41 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)HSBC 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 ≈ 26.4% · 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
0.93
-0.03
77
0.0210
0.04
-0.02
-0.08
0.90
-0.03
79
0.0239
0.05
-0.03
-0.11
0.86
-0.03
81
0.0276
0.06
-0.03
-0.14
0.83
-0.03
82
0.0311
0.06
-0.03
-0.17
0.73
-0.04
85
0.0446
0.08
-0.04
-0.27
0.64
-0.04
87
0.0538
0.10
-0.04
-0.36
0.59
-0.04
88
0.0574
0.10
-0.04
-0.42
0.53
-0.04
89
0.0596
0.10
-0.04
-0.48
0.47
-0.04
90
0.0603
0.10
-0.04
-0.54
0.26
-0.04
94
0.0483
0.08
-0.04
-0.76
0.21
-0.03
95
0.0434
0.07
-0.03
-0.80
Quoted contract greeks from the delayed feed (not modeled here); the highlighted row is nearest to spot. Showing 11 strikes around the money — all 13 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.