SourcePut open interest divided by call open interest
As ofCboe delayed snapshot Nov 9, 7:13 PM ET
How36 put contracts / 18 call contracts = 2.00 for the 2026-11-20 expiration. Open interest is published once a day, before the open, so it describes the previous session.
Too thin to read: 54 open contracts across 13 strikes. Max pain, walls and gamma print from 100 contracts across 5 strikes.
Open interest by strike · Fri, Nov 20
■ calls (up)■ puts (down)ICVT open contracts per strike for Fri, Nov 20.
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, Nov 20
Implied volatility by strike · Fri, Nov 20
— call IV— put IVATM ≈ 36.0% · Quoted strikes only; illiquid wings with junk fits are dropped, not smoothed.
Greeks by strike · Fri, Nov 20
Call Δ
Call Θ
Strike
Γ
Vega
Put Θ
Put Δ
0.88
-0.06
96
0.0284
0.04
-0.06
-0.12
0.78
-0.07
100
0.0577
0.05
-0.07
-0.23
0.48
-0.07
104
0.0980
0.07
-0.08
-0.53
0.39
-0.07
105
0.0920
0.07
-0.07
-0.62
0.26
-0.07
107
0.0681
0.06
-0.07
-0.75
0.18
-0.07
109
0.0483
0.05
-0.07
-0.83
0.16
-0.06
110
0.0412
0.04
-0.07
-0.85
0.11
-0.06
113
0.0268
0.03
-0.06
-0.90
0.10
-0.06
114
0.0237
0.03
-0.06
-0.91
0.09
-0.06
115
0.0210
0.03
-0.06
-0.92
Quoted contract greeks from the delayed feed (not modeled here); the highlighted row is nearest to spot. Showing 10 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.