SourcePut open interest divided by call open interest
As ofCboe delayed snapshot Nov 10, 5:37 PM ET
How45 put contracts / 31 call contracts = 1.45 for the 2026-12-18 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 19 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 19 strikes. Max pain, walls and gamma print from 100 contracts across 5 strikes.
Open interest by strike · Fri, Dec 18
■ calls (up)■ puts (down)THD open contracts per strike for Fri, Dec 18.
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 18
Implied volatility by strike · Fri, Dec 18
— call IV— put IVATM ≈ 28.1% · Quoted strikes only; illiquid wings with junk fits are dropped, not smoothed.
Greeks by strike · Fri, Dec 18
Call Δ
Call Θ
Strike
Γ
Vega
Put Θ
Put Δ
0.89
-0.02
60
0.0258
0.04
-0.02
-0.14
0.82
-0.02
63
0.0427
0.06
-0.02
-0.21
0.79
-0.02
64
0.0511
0.06
-0.03
-0.25
0.74
-0.02
65
0.0607
0.07
-0.03
-0.30
0.69
-0.03
66
0.0710
0.08
-0.03
-0.36
0.61
-0.03
67
0.0795
0.08
-0.03
-0.44
0.53
-0.03
68
0.0830
0.09
-0.03
-0.52
0.45
-0.03
69
0.0805
0.09
-0.03
-0.59
0.38
-0.03
70
0.0737
0.08
-0.03
-0.66
0.33
-0.03
71
0.0655
0.08
-0.03
-0.71
0.28
-0.03
72
0.0575
0.07
-0.03
-0.75
0.24
-0.03
73
0.0504
0.07
-0.02
-0.78
0.22
-0.03
74
0.0443
0.06
-0.02
-0.80
0.19
-0.03
75
0.0391
0.06
-0.02
-0.82
Quoted contract greeks from the delayed feed (not modeled here); the highlighted row is nearest to spot. Showing 14 strikes around the money — all 19 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.