SourcePut open interest divided by call open interest
As ofCboe delayed snapshot Nov 10, 7:54 PM ET
How14 put contracts / 18 call contracts = 0.78 for the 2027-03-19 expiration. Open interest is published once a day, before the open, so it describes the previous session.
Too thin to read: 32 open contracts across 12 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: 32 open contracts across 12 strikes. Max pain, walls and gamma print from 100 contracts across 5 strikes.
Open interest by strike · Fri, Mar 19
■ calls (up)■ puts (down)IEV open contracts per strike for Fri, Mar 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, Mar 19
■ calls (up)■ puts (down)Today's traded contracts per strike (delayed).
Implied volatility by strike · Fri, Mar 19
— call IV— put IVATM ≈ 20.4% · Quoted strikes only; illiquid wings with junk fits are dropped, not smoothed.
Greeks by strike · Fri, Mar 19
Call Δ
Call Θ
Strike
Γ
Vega
Put Θ
Put Δ
0.94
-0.01
45
0.0050
0.05
-0.01
-0.06
0.85
-0.01
60
0.0148
0.10
-0.01
-0.15
0.81
-0.01
63
0.0191
0.11
-0.01
-0.18
0.75
-0.01
67
0.0276
0.14
-0.01
-0.25
0.55
-0.01
73
0.0480
0.17
-0.01
-0.45
0.50
-0.01
74
0.0504
0.17
-0.01
-0.50
0.45
-0.01
75
0.0514
0.17
-0.01
-0.56
0.40
-0.01
76
0.0505
0.17
-0.01
-0.61
0.35
-0.01
77
0.0482
0.16
-0.01
-0.66
0.31
-0.01
78
0.0449
0.15
-0.01
-0.70
0.28
-0.01
79
0.0414
0.15
-0.01
-0.73
0.25
-0.01
80
0.0379
0.14
-0.01
-0.76
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.