SourcePut open interest divided by call open interest
As ofCboe delayed snapshot Nov 10, 5:51 PM ET
How5 put contracts / 15 call contracts = 0.33 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: 20 open contracts across 13 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: 20 open contracts across 13 strikes. Max pain, walls and gamma print from 100 contracts across 5 strikes.
Open interest by strike · Fri, Apr 16
■ calls (up)■ puts (down)XSW 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 ≈ 31.4% · 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
0.67
-0.04
191
0.0080
0.48
-0.05
-0.32
0.66
-0.04
192
0.0081
0.48
-0.05
-0.33
0.65
-0.04
194
0.0084
0.49
-0.05
-0.34
0.63
-0.05
196
0.0086
0.50
-0.05
-0.36
0.62
-0.05
197
0.0087
0.50
-0.05
-0.37
0.61
-0.05
198
0.0088
0.51
-0.05
-0.38
0.60
-0.05
199
0.0089
0.51
-0.05
-0.39
0.59
-0.05
200
0.0090
0.51
-0.05
-0.40
0.41
-0.05
220
0.0094
0.52
-0.04
-0.59
0.29
-0.04
235
0.0082
0.46
-0.04
-0.71
0.23
-0.04
245
0.0071
0.40
-0.03
-0.78
Quoted contract greeks from the delayed feed (not modeled here); the highlighted row is nearest to spot. Showing 11 strikes around the money — all 13 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.