SourcePut open interest divided by call open interest
As ofCboe delayed snapshot Nov 9, 7:27 PM ET
How443 put contracts / 444 call contracts = 1.00 for the 2026-11-20 expiration. Open interest is published once a day, before the open, so it describes the previous session.
SourceNet gamma exposure from Cboe greeks and open interest
As ofCboe delayed snapshot Nov 9, 7:27 PM ET
HowOver every strike with open interest for the 2026-11-20 expiration: (call gamma × call OI minus put gamma × put OI) × 100 × spot² × 1%, summed. Calls count as positive and puts as negative, a convention about who holds the other side, not a measurement.
Max pain is not shown: without its single heaviest strike it moves 22.1% of spot, more than the 5% we allow, so one strike decides it. Walls and gamma still print.
Max pain is not shown: without its single heaviest strike it moves 22.1% of spot, more than the 5% we allow, so one strike decides it. Walls and gamma still print.
Open interest by strike · Fri, Nov 20
■ calls (up)■ puts (down)NVTX open contracts per strike for Fri, Nov 20.
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, Nov 20
■ calls (up)■ puts (down)Today's traded contracts per strike (delayed).
Implied volatility by strike · Fri, Nov 20
— call IV— put IVATM ≈ 201.3% · Quoted strikes only; illiquid wings with junk fits are dropped, not smoothed.
Gamma exposure by strike · Fri, Nov 20
Net dealer gamma per strike, in dollars per 1% move, assuming the standard convention (dealers long calls, short puts) — an assumption, not an observation. Above the amber flip level hedging tends to dampen moves; below it, to amplify them.
Greeks by strike · Fri, Nov 20
Call Δ
Call Θ
Strike
Γ
Vega
Put Θ
Put Δ
0.93
-0.03
5
0.0314
0.00
-0.03
-0.07
0.88
-0.03
6
0.0527
0.00
-0.03
-0.12
0.80
-0.04
7
0.0808
0.00
-0.04
-0.20
0.70
-0.05
8
0.1100
0.01
-0.05
-0.30
0.57
-0.06
9
0.1293
0.01
-0.06
-0.43
0.44
-0.06
10
0.1313
0.01
-0.05
-0.56
0.34
-0.05
11
0.1196
0.01
-0.05
-0.66
0.26
-0.05
12
0.1028
0.01
-0.05
-0.74
0.20
-0.04
13
0.0864
0.00
-0.04
-0.80
0.16
-0.04
14
0.0722
0.00
-0.04
-0.84
0.13
-0.03
15
0.0607
0.00
-0.03
-0.87
0.11
-0.03
16
0.0514
0.00
-0.03
-0.89
Quoted contract greeks from the delayed feed (not modeled here); the highlighted row is nearest to spot. Showing 12 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.