SourcePut open interest divided by call open interest
As ofCboe delayed snapshot Nov 3, 6:07 AM ET
How26 put contracts / 32 call contracts = 0.81 for the 2026-12-04 expiration. Open interest is published once a day, before the open, so it describes the previous session.
Too thin to read: 58 open contracts across 21 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 — macro releases historically overwhelm pinning effects; max pain reads weakest in event weeks.
Too thin to read: 58 open contracts across 21 strikes. Max pain, walls and gamma print from 100 contracts across 5 strikes.
Open interest by strike · Fri, Dec 4
■ calls (up)■ puts (down)LABU open contracts per strike for Fri, Dec 4.
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, Dec 4
■ calls (up)■ puts (down)Today's traded contracts per strike (delayed).
Implied volatility by strike · Fri, Dec 4
— call IV— put IVATM ≈ 103.7% · Quoted strikes only; illiquid wings with junk fits are dropped, not smoothed.
Greeks by strike · Fri, Dec 4
Call Δ
Call Θ
Strike
Γ
Vega
Put Θ
Put Δ
0.87
-0.24
165
0.0027
0.14
-0.24
-0.13
0.85
-0.26
170
0.0030
0.15
-0.27
-0.14
0.83
-0.28
175
0.0033
0.17
-0.29
-0.16
0.81
-0.30
180
0.0036
0.18
-0.31
-0.18
0.72
-0.38
200
0.0046
0.23
-0.38
-0.28
0.66
-0.40
210
0.0051
0.25
-0.41
-0.33
0.61
-0.42
220
0.0054
0.26
-0.42
-0.39
0.55
-0.43
230
0.0056
0.27
-0.43
-0.45
0.46
-0.42
247.5
0.0057
0.27
-0.42
-0.54
0.39
-0.41
260
0.0056
0.26
-0.40
-0.61
0.32
-0.37
275
0.0052
0.24
-0.37
-0.68
0.24
-0.32
295
0.0046
0.21
-0.32
-0.76
0.22
-0.31
300
0.0044
0.20
-0.30
-0.78
0.20
-0.29
305
0.0042
0.19
-0.29
-0.80
0.19
-0.28
310
0.0040
0.18
-0.27
-0.81
Quoted contract greeks from the delayed feed (not modeled here); the highlighted row is nearest to spot. Showing 15 strikes around the money — all 21 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.