SourcePut open interest divided by call open interest
As ofCboe delayed snapshot Nov 10, 6:53 PM ET
How12 put contracts / 59 call contracts = 0.20 for the 2027-02-19 expiration. Open interest is published once a day, before the open, so it describes the previous session.
Too thin to read: 71 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: 71 open contracts across 19 strikes. Max pain, walls and gamma print from 100 contracts across 5 strikes.
Open interest by strike · Fri, Feb 19
■ calls (up)■ puts (down)YCS open contracts per strike for Fri, Feb 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, Feb 19
Implied volatility by strike · Fri, Feb 19
— call IV— put IVATM ≈ 22.3% · Quoted strikes only; illiquid wings with junk fits are dropped, not smoothed.
Greeks by strike · Fri, Feb 19
Call Δ
Call Θ
Strike
Γ
Vega
Put Θ
Put Δ
0.95
-0.01
30
0.0049
0.03
-0.01
-0.05
0.85
-0.01
45
0.0196
0.07
-0.01
-0.15
0.75
-0.01
50
0.0353
0.09
-0.01
-0.24
0.69
-0.01
52
0.0453
0.10
-0.01
-0.30
0.64
-0.01
53
0.0509
0.11
-0.01
-0.35
0.59
-0.01
54
0.0563
0.11
-0.01
-0.40
0.54
-0.01
55
0.0601
0.11
-0.01
-0.46
0.47
-0.01
56
0.0613
0.12
-0.01
-0.52
0.41
-0.01
57
0.0595
0.11
-0.01
-0.57
0.36
-0.01
58
0.0556
0.11
-0.01
-0.63
0.32
-0.01
59
0.0508
0.10
-0.01
-0.67
0.29
-0.01
60
0.0461
0.10
-0.01
-0.70
0.24
-0.01
62
0.0378
0.09
-0.01
-0.75
0.22
-0.01
63
0.0343
0.09
-0.01
-0.77
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.