SourcePut open interest divided by call open interest
As ofCboe delayed snapshot Nov 2, 7:34 PM ET
How15 put contracts / 8 call contracts = 1.88 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: 23 open contracts across 10 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 · 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: 23 open contracts across 10 strikes. Max pain, walls and gamma print from 100 contracts across 5 strikes.
Open interest by strike · Thu, Jun 17
■ calls (up)■ puts (down)JDST 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 ≈ 94.6% · 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
-0.01
15
0.0078
0.02
-0.01
-0.09
0.75
-0.02
25
0.0146
0.07
-0.01
-0.24
0.69
-0.02
28
0.0155
0.08
-0.02
-0.29
0.60
-0.02
33
0.0164
0.09
-0.02
-0.36
0.56
-0.02
36
0.0166
0.09
-0.02
-0.41
0.54
-0.02
37
0.0166
0.10
-0.02
-0.42
0.53
-0.02
38
0.0166
0.10
-0.02
-0.43
0.52
-0.02
39
0.0166
0.10
-0.02
-0.45
0.50
-0.02
40
0.0165
0.10
-0.02
-0.46
0.44
-0.02
45
0.0162
0.10
-0.02
-0.52
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.