SourcePut open interest divided by call open interest
As ofCboe delayed snapshot Nov 10, 7:30 PM ET
How30 put contracts / 46 call contracts = 0.65 for the 2026-12-04 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 17 strikes. Max pain, walls and gamma print from 100 contracts across 5 strikes.
Event risk before this expiration:Jobs report Fri, Dec 4 — macro releases historically overwhelm pinning effects; max pain reads weakest in event weeks.
Too thin to read: 76 open contracts across 17 strikes. Max pain, walls and gamma print from 100 contracts across 5 strikes.
Open interest by strike · Fri, Dec 4
■ calls (up)■ puts (down)SAP open contracts per strike for Fri, Dec 4.
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 4
Implied volatility by strike · Fri, Dec 4
— call IV— put IVATM ≈ 33.2% · Quoted strikes only; illiquid wings with junk fits are dropped, not smoothed.
Greeks by strike · Fri, Dec 4
Call Δ
Call Θ
Strike
Γ
Vega
Put Θ
Put Δ
0.95
-0.05
190
0.0031
0.06
-0.06
-0.04
0.94
-0.06
195
0.0041
0.07
-0.07
-0.06
0.90
-0.09
205
0.0068
0.11
-0.09
-0.10
0.87
-0.10
210
0.0088
0.13
-0.11
-0.13
0.77
-0.14
220
0.0140
0.18
-0.14
-0.23
0.69
-0.15
225
0.0169
0.21
-0.15
-0.31
0.60
-0.16
230
0.0192
0.23
-0.16
-0.40
0.51
-0.16
235
0.0204
0.24
-0.16
-0.50
0.41
-0.16
240
0.0199
0.23
-0.16
-0.60
0.32
-0.14
245
0.0181
0.21
-0.15
-0.69
0.24
-0.13
250
0.0155
0.19
-0.13
-0.77
0.18
-0.11
255
0.0128
0.16
-0.11
-0.82
0.14
-0.10
260
0.0103
0.13
-0.10
-0.87
0.08
-0.07
270
0.0066
0.09
-0.07
-0.93
0.07
-0.06
275
0.0053
0.08
-0.06
-0.95
Quoted contract greeks from the delayed feed (not modeled here); the highlighted row is nearest to spot. Showing 15 strikes around the money — all 17 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.