SourcePut open interest divided by call open interest
As ofCboe delayed snapshot Nov 10, 6:48 PM ET
How29 put contracts / 47 call contracts = 0.62 for the 2027-01-15 expiration. Open interest is published once a day, before the open, so it describes the previous session.
Too thin to read: 76 open contracts across 16 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: 76 open contracts across 16 strikes. Max pain, walls and gamma print from 100 contracts across 5 strikes.
Open interest by strike · Fri, Jan 15
■ calls (up)■ puts (down)PHIN open contracts per strike for Fri, Jan 15.
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 15
Implied volatility by strike · Fri, Jan 15
— call IV— put IVATM ≈ 36.1% · Quoted strikes only; illiquid wings with junk fits are dropped, not smoothed.
Greeks by strike · Fri, Jan 15
Call Δ
Call Θ
Strike
Γ
Vega
Put Θ
Put Δ
0.95
-0.02
45
0.0056
0.03
-0.02
-0.06
0.92
-0.02
50
0.0083
0.04
-0.02
-0.08
0.89
-0.02
55
0.0122
0.06
-0.02
-0.12
0.83
-0.03
60
0.0184
0.08
-0.03
-0.17
0.79
-0.03
62.5
0.0228
0.09
-0.03
-0.21
0.73
-0.03
65
0.0279
0.10
-0.03
-0.27
0.66
-0.03
67.5
0.0335
0.11
-0.03
-0.34
0.47
-0.03
72.5
0.0389
0.12
-0.03
-0.53
0.32
-0.03
77.5
0.0322
0.11
-0.03
-0.69
0.26
-0.03
80
0.0279
0.10
-0.03
-0.74
0.19
-0.03
85
0.0207
0.08
-0.03
-0.81
0.17
-0.03
87.5
0.0180
0.08
-0.03
-0.84
0.15
-0.03
90
0.0158
0.07
-0.02
-0.86
0.12
-0.02
95
0.0124
0.06
-0.02
-0.89
0.08
-0.02
105
0.0084
0.05
-0.02
-0.92
Quoted contract greeks from the delayed feed (not modeled here); the highlighted row is nearest to spot. Showing 15 strikes around the money — all 16 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.