SourcePut open interest divided by call open interest
As ofCboe delayed snapshot Nov 10, 6:48 PM ET
How43 put contracts / 19 call contracts = 2.26 for the 2027-04-16 expiration. Open interest is published once a day, before the open, so it describes the previous session.
Too thin to read: 62 open contracts across 14 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: 62 open contracts across 14 strikes. Max pain, walls and gamma print from 100 contracts across 5 strikes.
Open interest by strike · Fri, Apr 16
■ calls (up)■ puts (down)USL open contracts per strike for Fri, Apr 16.
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, Apr 16
Implied volatility by strike · Fri, Apr 16
— call IV— put IVATM ≈ 33.0% · Quoted strikes only; illiquid wings with junk fits are dropped, not smoothed.
Greeks by strike · Fri, Apr 16
Call Δ
Call Θ
Strike
Γ
Vega
Put Θ
Put Δ
0.89
-0.01
40
0.0103
0.06
-0.01
-0.10
0.80
-0.01
47
0.0196
0.10
-0.01
-0.19
0.68
-0.01
52
0.0279
0.13
-0.01
-0.32
0.65
-0.01
53
0.0292
0.13
-0.01
-0.35
0.62
-0.01
54
0.0303
0.14
-0.01
-0.38
0.55
-0.01
56
0.0316
0.14
-0.01
-0.44
0.49
-0.01
58
0.0318
0.14
-0.01
-0.51
0.43
-0.01
60
0.0309
0.14
-0.01
-0.57
0.41
-0.01
61
0.0301
0.14
-0.01
-0.59
0.36
-0.01
63
0.0283
0.14
-0.01
-0.64
0.32
-0.01
65
0.0263
0.13
-0.01
-0.69
0.19
-0.01
75
0.0172
0.10
-0.01
-0.83
0.15
-0.01
80
0.0141
0.09
-0.01
-0.87
Quoted contract greeks from the delayed feed (not modeled here); the highlighted row is nearest to spot. Showing 13 strikes around the money — all 14 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.