SourcePut open interest divided by call open interest
As ofCboe delayed snapshot Nov 10, 4:21 PM ET
How32 put contracts / 32 call contracts = 1.00 for the 2027-03-19 expiration. Open interest is published once a day, before the open, so it describes the previous session.
Too thin to read: 64 open contracts across 25 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: 64 open contracts across 25 strikes. Max pain, walls and gamma print from 100 contracts across 5 strikes.
Open interest by strike · Fri, Mar 19
■ calls (up)■ puts (down)VMI open contracts per strike for Fri, Mar 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, Mar 19
Implied volatility by strike · Fri, Mar 19
— call IV— put IVATM ≈ 32.3% · Quoted strikes only; illiquid wings with junk fits are dropped, not smoothed.
Greeks by strike · Fri, Mar 19
Call Δ
Call Θ
Strike
Γ
Vega
Put Θ
Put Δ
0.91
-0.05
320
0.0016
0.40
-0.06
-0.09
0.90
-0.05
330
0.0019
0.46
-0.07
-0.10
0.87
-0.06
340
0.0022
0.52
-0.07
-0.13
0.85
-0.07
350
0.0025
0.58
-0.08
-0.15
0.82
-0.08
360
0.0029
0.65
-0.09
-0.18
0.79
-0.09
370
0.0032
0.72
-0.10
-0.21
0.72
-0.10
390
0.0040
0.85
-0.11
-0.29
0.58
-0.12
420
0.0048
0.98
-0.12
-0.43
0.48
-0.12
440
0.0050
1.00
-0.13
-0.53
0.44
-0.12
450
0.0049
0.99
-0.12
-0.58
0.39
-0.12
460
0.0048
0.96
-0.12
-0.63
0.35
-0.11
470
0.0046
0.93
-0.11
-0.67
0.31
-0.11
480
0.0044
0.89
-0.11
-0.71
0.24
-0.09
500
0.0039
0.78
-0.10
-0.79
0.21
-0.09
510
0.0036
0.73
-0.09
-0.82
Quoted contract greeks from the delayed feed (not modeled here); the highlighted row is nearest to spot. Showing 15 strikes around the money — all 25 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.