Max Pain
The strike where the most options expire worthless for their holders. Often acts as a price magnet toward expiration.
How to read: price gravitates to the Max Pain line closer to expiration.
Option walls
Strikes with the largest open interest. Call walls above act as resistance, put walls below as support.
How to read: expect a price reaction near large walls.
Put/Call Ratio
The ratio of put to call open interest. Shows the balance of sentiment and its day-to-day shift.
How to read: a rising PCR means stronger protective positioning.
Open-interest flows
OI dynamics at levels: where positions build up (progress), where they shrink (regress), and where they just hold.
How to read: inflow at a level increases its significance.
Margin zones
Price ranges derived from the contract exchange margin — a guide to where large positions are held.
How to read: zone boundaries are potential reversal points.
Total OI and volume
The overall options picture for an instrument: total open interest, volume and their accumulation history.
How to read: rising total OI means growing interest in the instrument.
