SourcePut open interest divided by call open interest
As ofCboe delayed snapshot Nov 10, 12:29 AM ET
How35 put contracts / 45 call contracts = 0.78 for the 2026-11-20 expiration. Open interest is published once a day, before the open, so it describes the previous session.
Too thin to read: 80 open contracts across 10 strikes. Max pain, walls and gamma print from 100 contracts across 5 strikes.
Open interest by strike · Fri, Nov 20
■ calls (up)■ puts (down)UFPT open contracts per strike for Fri, Nov 20.
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, Nov 20
■ calls (up)■ puts (down)Today's traded contracts per strike (delayed).
Implied volatility by strike · Fri, Nov 20
— call IV— put IVATM ≈ 36.8% · Quoted strikes only; illiquid wings with junk fits are dropped, not smoothed.
Greeks by strike · Fri, Nov 20
Call Δ
Call Θ
Strike
Γ
Vega
Put Θ
Put Δ
0.97
-0.27
190
0.0007
0.04
-0.28
-0.03
0.94
-0.35
240
0.0020
0.07
-0.35
-0.07
0.91
-0.38
260
0.0032
0.09
-0.39
-0.09
0.85
-0.43
280
0.0055
0.13
-0.43
-0.14
0.81
-0.45
290
0.0074
0.15
-0.45
-0.19
0.74
-0.46
300
0.0101
0.18
-0.46
-0.25
0.64
-0.47
310
0.0135
0.21
-0.47
-0.35
0.25
-0.41
340
0.0112
0.18
-0.40
-0.75
0.18
-0.38
350
0.0085
0.15
-0.37
-0.81
0.12
-0.33
370
0.0052
0.11
-0.32
-0.88
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.