SourcePut open interest divided by call open interest
As ofCboe delayed snapshot Nov 10, 4:46 PM ET
How28 put contracts / 61 call contracts = 0.46 for the 2027-02-19 expiration. Open interest is published once a day, before the open, so it describes the previous session.
Too thin to read: 89 open contracts across 27 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: 89 open contracts across 27 strikes. Max pain, walls and gamma print from 100 contracts across 5 strikes.
Open interest by strike · Fri, Feb 19
■ calls (up)■ puts (down)ROM open contracts per strike for Fri, Feb 19.
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, Feb 19
Implied volatility by strike · Fri, Feb 19
— call IV— put IVATM ≈ 59.8% · Quoted strikes only; illiquid wings with junk fits are dropped, not smoothed.
Greeks by strike · Fri, Feb 19
Call Δ
Call Θ
Strike
Γ
Vega
Put Θ
Put Δ
0.92
-0.03
70
0.0032
0.09
-0.04
-0.08
0.90
-0.04
75
0.0039
0.10
-0.04
-0.10
0.81
-0.05
90
0.0066
0.16
-0.05
-0.19
0.56
-0.07
115
0.0109
0.24
-0.07
-0.43
0.51
-0.07
120
0.0113
0.24
-0.07
-0.48
0.45
-0.07
125
0.0114
0.24
-0.07
-0.54
0.40
-0.06
130
0.0112
0.23
-0.06
-0.59
0.35
-0.06
135
0.0109
0.22
-0.06
-0.64
0.30
-0.06
140
0.0103
0.21
-0.05
-0.69
0.27
-0.05
144
0.0098
0.20
-0.05
-0.72
0.26
-0.05
145
0.0096
0.20
-0.05
-0.73
Quoted contract greeks from the delayed feed (not modeled here); the highlighted row is nearest to spot. Showing 11 strikes around the money — all 27 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.