SourcePut open interest divided by call open interest
As ofCboe delayed snapshot Nov 4, 11:48 AM ET
How37 put contracts / 50 call contracts = 0.74 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: 87 open contracts across 18 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: 87 open contracts across 18 strikes. Max pain, walls and gamma print from 100 contracts across 5 strikes.
Open interest by strike · Fri, Dec 11
■ calls (up)■ puts (down)MA 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 ≈ 22.3% · 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
0.78
-0.20
635
0.0058
0.64
-0.21
-0.23
0.75
-0.21
640
0.0063
0.69
-0.22
-0.26
0.72
-0.22
645
0.0067
0.73
-0.23
-0.29
0.68
-0.23
650
0.0072
0.76
-0.24
-0.32
0.65
-0.24
655
0.0076
0.80
-0.25
-0.36
0.61
-0.25
660
0.0080
0.82
-0.25
-0.40
0.57
-0.25
665
0.0082
0.84
-0.26
-0.44
0.53
-0.25
670
0.0084
0.85
-0.26
-0.48
0.48
-0.25
675
0.0085
0.85
-0.26
-0.52
0.44
-0.24
680
0.0085
0.84
-0.25
-0.57
0.40
-0.24
685
0.0084
0.82
-0.24
-0.61
0.32
-0.22
695
0.0079
0.77
-0.22
-0.69
0.15
-0.14
720
0.0054
0.52
-0.15
-0.87
Quoted contract greeks from the delayed feed (not modeled here); the highlighted row is nearest to spot. Showing 13 strikes around the money — all 18 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.