SourcePut open interest divided by call open interest
As ofCboe delayed snapshot Nov 10, 6:04 PM ET
How16 put contracts / 66 call contracts = 0.24 for the 2028-01-21 expiration. Open interest is published once a day, before the open, so it describes the previous session.
Too thin to read: 82 open contracts across 25 strikes. Max pain, walls and gamma print from 100 contracts across 5 strikes.
Event risk before this expiration: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: 82 open contracts across 25 strikes. Max pain, walls and gamma print from 100 contracts across 5 strikes.
Open interest by strike · Fri, Jan 21
■ calls (up)■ puts (down)MATX open contracts per strike for Fri, Jan 21.
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 21
Implied volatility by strike · Fri, Jan 21
— call IV— put IVATM ≈ 37.2% · Quoted strikes only; illiquid wings with junk fits are dropped, not smoothed.
Greeks by strike · Fri, Jan 21
Call Δ
Call Θ
Strike
Γ
Vega
Put Θ
Put Δ
0.81
-0.02
165
0.0031
0.62
-0.03
-0.20
0.79
-0.02
170
0.0033
0.65
-0.03
-0.22
0.77
-0.02
175
0.0035
0.69
-0.03
-0.24
0.75
-0.03
180
0.0037
0.72
-0.03
-0.26
0.73
-0.03
185
0.0039
0.75
-0.03
-0.29
0.71
-0.03
190
0.0040
0.78
-0.03
-0.31
0.68
-0.03
195
0.0042
0.80
-0.04
-0.33
0.62
-0.03
210
0.0046
0.86
-0.04
-0.41
0.57
-0.03
220
0.0047
0.88
-0.04
-0.46
0.53
-0.03
230
0.0048
0.89
-0.04
-0.51
0.48
-0.03
240
0.0049
0.90
-0.04
-0.56
0.44
-0.03
250
0.0049
0.89
-0.04
-0.61
0.36
-0.03
270
0.0047
0.84
-0.04
-0.71
0.17
-0.02
340
0.0032
0.57
-0.03
-0.99
Quoted contract greeks from the delayed feed (not modeled here); the highlighted row is nearest to spot. Showing 14 strikes around the money — all 25 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.