SourcePut open interest divided by call open interest
As ofCboe delayed snapshot Nov 10, 6:49 PM ET
How2 put contracts / 12 call contracts = 0.17 for the 2027-06-17 expiration. Open interest is published once a day, before the open, so it describes the previous session.
Too thin to read: 14 open contracts across 10 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: 14 open contracts across 10 strikes. Max pain, walls and gamma print from 100 contracts across 5 strikes.
Open interest by strike · Thu, Jun 17
■ calls (up)■ puts (down)PJT open contracts per strike for Thu, Jun 17.
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 · Thu, Jun 17
Implied volatility by strike · Thu, Jun 17
— call IV— put IVATM ≈ 36.1% · Quoted strikes only; illiquid wings with junk fits are dropped, not smoothed.
Greeks by strike · Thu, Jun 17
Call Δ
Call Θ
Strike
Γ
Vega
Put Θ
Put Δ
0.93
-0.00
100
0.0024
0.15
-0.01
-0.07
0.91
-0.01
105
0.0030
0.18
-0.02
-0.08
0.70
-0.03
140
0.0076
0.41
-0.03
-0.30
0.62
-0.03
150
0.0086
0.45
-0.04
-0.38
0.57
-0.04
155
0.0090
0.46
-0.04
-0.43
0.44
-0.04
170
0.0094
0.47
-0.04
-0.58
0.24
-0.03
195
0.0078
0.37
-0.03
-0.80
0.21
-0.03
200
0.0073
0.34
-0.02
-0.84
0.15
-0.02
210
0.0061
0.28
-0.01
-0.91
0.11
-0.02
220
0.0049
0.23
-0.01
-0.96
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.