SourcePut open interest divided by call open interest
As ofCboe delayed snapshot Nov 10, 9:08 PM ET
How9 put contracts / 24 call contracts = 0.38 for the 2027-06-17 expiration. Open interest is published once a day, before the open, so it describes the previous session.
Too thin to read: 33 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: 33 open contracts across 11 strikes. Max pain, walls and gamma print from 100 contracts across 5 strikes.
Open interest by strike · Thu, Jun 17
■ calls (up)■ puts (down)HXL open contracts per strike for Thu, Jun 17.
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 · Thu, Jun 17
Implied volatility by strike · Thu, Jun 17
— call IV— put IVATM ≈ 38.0% · Quoted strikes only; illiquid wings with junk fits are dropped, not smoothed.
Greeks by strike · Thu, Jun 17
Call Δ
Call Θ
Strike
Γ
Vega
Put Θ
Put Δ
0.95
0.00
45
0.0028
0.06
-0.01
-0.04
0.93
-0.00
50
0.0041
0.08
-0.01
-0.06
0.90
-0.01
55
0.0057
0.10
-0.01
-0.09
0.86
-0.01
60
0.0076
0.13
-0.01
-0.13
0.81
-0.01
65
0.0099
0.16
-0.01
-0.18
0.68
-0.02
75
0.0144
0.22
-0.02
-0.32
0.60
-0.02
80
0.0161
0.24
-0.02
-0.40
0.52
-0.02
85
0.0170
0.25
-0.02
-0.48
0.37
-0.02
95
0.0162
0.24
-0.02
-0.65
0.30
-0.02
100
0.0150
0.22
-0.02
-0.72
0.11
-0.01
125
0.0078
0.12
-0.01
-0.95
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.