SourcePut open interest divided by call open interest
As ofCboe delayed snapshot Nov 8, 7:22 PM ET
How49 put contracts / 32 call contracts = 1.53 for the 2027-01-15 expiration. Open interest is published once a day, before the open, so it describes the previous session.
Too thin to read: 81 open contracts across 14 strikes. Max pain, walls and gamma print from 100 contracts across 5 strikes.
Event risk before this expiration: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: 81 open contracts across 14 strikes. Max pain, walls and gamma print from 100 contracts across 5 strikes.
Open interest by strike · Fri, Jan 15
■ calls (up)■ puts (down)KAI open contracts per strike for Fri, Jan 15.
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, Jan 15
Implied volatility by strike · Fri, Jan 15
— call IV— put IVATM ≈ 35.5% · Quoted strikes only; illiquid wings with junk fits are dropped, not smoothed.
Greeks by strike · Fri, Jan 15
Call Δ
Call Θ
Strike
Γ
Vega
Put Θ
Put Δ
0.99
-0.02
150
0.0003
0.04
-0.02
-0.01
0.97
-0.03
185
0.0008
0.08
-0.03
-0.03
0.79
-0.10
260
0.0057
0.37
-0.10
-0.21
0.73
-0.11
270
0.0069
0.42
-0.11
-0.27
0.65
-0.12
280
0.0080
0.47
-0.12
-0.35
0.57
-0.13
290
0.0087
0.50
-0.13
-0.43
0.48
-0.13
300
0.0090
0.51
-0.13
-0.52
0.39
-0.12
310
0.0087
0.49
-0.12
-0.61
0.32
-0.11
320
0.0080
0.46
-0.12
-0.69
0.25
-0.10
330
0.0071
0.41
-0.10
-0.76
0.12
-0.07
360
0.0043
0.27
-0.08
-0.89
0.07
-0.04
390
0.0025
0.17
-0.06
-0.96
0.01
-0.01
480
0.0006
0.05
not quoted
-1.00
Quoted contract greeks from the delayed feed (not modeled here); the highlighted row is nearest to spot. Showing 13 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.