SourcePut open interest divided by call open interest
As ofCboe delayed snapshot Nov 3, 6:07 AM ET
How17 put contracts / 11 call contracts = 1.55 for the 2026-12-11 expiration. Open interest is published once a day, before the open, so it describes the previous session.
Too thin to read: 28 open contracts across 11 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: 28 open contracts across 11 strikes. Max pain, walls and gamma print from 100 contracts across 5 strikes.
Open interest by strike · Fri, Dec 11
■ calls (up)■ puts (down)LABU open contracts per strike for Fri, Dec 11.
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 11
■ calls (up)■ puts (down)Today's traded contracts per strike (delayed).
Implied volatility by strike · Fri, Dec 11
— call IV— put IVATM ≈ 103.4% · Quoted strikes only; illiquid wings with junk fits are dropped, not smoothed.
Greeks by strike · Fri, Dec 11
Call Δ
Call Θ
Strike
Γ
Vega
Put Θ
Put Δ
0.91
-0.17
150
0.0020
0.12
-0.17
-0.09
0.78
-0.30
185
0.0037
0.22
-0.30
-0.22
0.69
-0.35
205
0.0045
0.26
-0.35
-0.31
0.66
-0.36
210
0.0047
0.27
-0.36
-0.34
0.57
-0.38
227.5
0.0051
0.29
-0.39
-0.42
0.55
-0.39
232.5
0.0052
0.29
-0.39
-0.45
0.51
-0.39
240
0.0052
0.30
-0.39
-0.49
0.41
-0.37
260
0.0052
0.29
-0.37
-0.59
0.40
-0.37
262.5
0.0051
0.29
-0.37
-0.60
0.39
-0.36
265
0.0051
0.28
-0.36
-0.61
0.30
-0.33
285
0.0047
0.26
-0.33
-0.69
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.