SourcePut open interest divided by call open interest
As ofCboe delayed snapshot Nov 3, 11:10 AM ET
How49 put contracts / 497 call contracts = 0.10 for the 2027-06-17 expiration. Open interest is published once a day, before the open, so it describes the previous session.
SourceNet gamma exposure from Cboe greeks and open interest
As ofCboe delayed snapshot Nov 3, 11:10 AM ET
HowOver every strike with open interest for the 2027-06-17 expiration: (call gamma × call OI minus put gamma × put OI) × 100 × spot² × 1%, summed. Calls count as positive and puts as negative, a convention about who holds the other side, not a measurement.
Max pain is not shown: without its single heaviest strike it moves 35.3% of spot, more than the 5% we allow, so one strike decides it. Walls and gamma still print.
Event risk before this expiration:Jobs report Fri, Nov 6 · CPI release Tue, Nov 10 · 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.
Max pain is not shown: without its single heaviest strike it moves 35.3% of spot, more than the 5% we allow, so one strike decides it. Walls and gamma still print.
Open interest by strike · Thu, Jun 17
■ calls (up)■ puts (down)IR 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 ≈ 33.0% · Quoted strikes only; illiquid wings with junk fits are dropped, not smoothed.
Gamma exposure by strike · Thu, Jun 17
Net dealer gamma per strike, in dollars per 1% move, assuming the standard convention (dealers long calls, short puts) — an assumption, not an observation. Above the amber flip level hedging tends to dampen moves; below it, to amplify them.
Greeks by strike · Thu, Jun 17
Call Δ
Call Θ
Strike
Γ
Vega
Put Θ
Put Δ
0.93
-0.00
50
0.0035
0.08
-0.01
-0.06
0.91
-0.01
55
0.0047
0.10
-0.01
-0.08
0.88
-0.01
60
0.0063
0.13
-0.01
-0.11
0.84
-0.01
65
0.0083
0.15
-0.01
-0.15
0.80
-0.01
70
0.0106
0.18
-0.02
-0.20
0.73
-0.01
75
0.0131
0.21
-0.02
-0.26
0.66
-0.02
80
0.0156
0.24
-0.02
-0.34
0.58
-0.02
85
0.0176
0.26
-0.02
-0.43
0.49
-0.02
90
0.0186
0.26
-0.02
-0.53
0.40
-0.02
95
0.0183
0.26
-0.02
-0.62
0.32
-0.02
100
0.0170
0.24
-0.02
-0.71
0.26
-0.01
105
0.0152
0.22
-0.01
-0.78
Quoted contract greeks from the delayed feed (not modeled here); the highlighted row is nearest to spot. Showing 12 strikes around the money — all 14 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.