SourcePut open interest divided by call open interest
As ofCboe delayed snapshot Nov 10, 7:55 PM ET
How37 put contracts / 7 call contracts = 5.29 for the 2026-12-18 expiration. Open interest is published once a day, before the open, so it describes the previous session.
Too thin to read: 44 open contracts across 12 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: 44 open contracts across 12 strikes. Max pain, walls and gamma print from 100 contracts across 5 strikes.
Open interest by strike · Fri, Dec 18
■ calls (up)■ puts (down)MXI open contracts per strike for Fri, Dec 18.
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 18
Implied volatility by strike · Fri, Dec 18
— call IV— put IVATM ≈ 24.2% · Quoted strikes only; illiquid wings with junk fits are dropped, not smoothed.
Greeks by strike · Fri, Dec 18
Call Δ
Call Θ
Strike
Γ
Vega
Put Θ
Put Δ
0.92
-0.04
85
0.0069
0.05
-0.04
-0.08
0.90
-0.04
90
0.0097
0.06
-0.04
-0.11
0.87
-0.04
95
0.0143
0.07
-0.04
-0.14
0.68
-0.04
106
0.0405
0.12
-0.04
-0.36
0.59
-0.04
108
0.0468
0.14
-0.04
-0.44
0.31
-0.05
115
0.0365
0.12
-0.04
-0.71
0.29
-0.05
116
0.0337
0.12
-0.04
-0.73
0.27
-0.05
117
0.0312
0.11
-0.04
-0.75
0.20
-0.05
121
0.0232
0.10
-0.04
-0.80
0.17
-0.05
125
0.0179
0.09
-0.04
-0.84
0.14
-0.04
130
0.0137
0.08
-0.04
-0.87
0.11
-0.04
135
0.0109
0.07
-0.04
-0.89
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.