Strike Table

This pane counts the open option contracts on one stock, strike by strike, from last night's capture. See Reading The Options Suite for how to read it.

At a glance

You are looking at one stock's option contracts, grouped by the price they are written at, one expiry date at a time.

• An option. A contract giving someone the right to buy or sell a stock at a set price, up to a set date. This pane lists those contracts for one stock.
• A strike. The fixed price an option contract is written at. This pane shows one row per strike.
• An expiry. The date an option contract ends. The tabs across the top pick which date you are looking at.
• Open interest. How many contracts are still open at that strike, for the date you have selected. Think of it as a count of standing positions, not a record of today's trading.
• From price. How far the strike sits from the share price at the capture, written as a percent. It saves you doing that sum on every row.
• Put/Call. How many put contracts are open at that strike for every open call contract. It is one count divided by the other, and nothing more.
• Implied volatility. How much movement the contract's price assumes. A higher number means the contract is priced for bigger swings. It says nothing about which way.
• Call delta and Put delta. The average delta of the open contracts at that strike. A 0.16 delta call is one the market prices as finishing in the money roughly one time in six. That reading is the quotes' own read, not a forecast.
• Heat view. A shaded grid of the 41 strikes nearest the share price, against the captured dates. A darker cell holds more open interest.
• Where the figures come from. Last night's options capture, shown again as it was taken. The numbers do not change during the day. There is no bid or ask here. Key difference: the table prints exact numbers for one date. The heat view shades the strikes nearest the share price across the captured dates, so you can see the shape at a glance. The "largest" tag counts contracts. It says nothing about where the share price will go.

What it shows

The expiry strip

A segmented control across the top chooses the date; it replaced a row of tabs on 2026-09-16, arrow keys move between the choices the same way. The pane shows up to ten of the captured expiry dates. It opens on the date nearest 30 days out. The capture covers the strikes nearest the share price, and expiry dates out to about seven months.

The table

Each row is one strike. Click any column header to sort by it. A totals row closes the table. Delta is how much a contract's price moves when the share price moves. Gamma is how fast that delta itself changes. Two more terms sit on the screen. Dollar gamma is gamma put into dollars, so strikes can be compared with each other. Delta weighted open interest is the count of open contracts scaled by how much each one moves with the share price. There are fifteen columns. Seven of them show by default. A toggle labelled "full set" adds the other eight.

Each column is a number printed on the row. None of them is a view about the stock. Taking one side away from the other is a display convention. It shows which side is bigger. It says nothing about who holds either side. A cell the capture carried no figure for prints a dash. Dashes sort to the bottom of the column. A zero is never printed in place of a figure we do not have.

The heat view

The heat toggle swaps the table for a grid.

• Rows are strikes, cut down to the 41 nearest the share price.
• Columns are the captured expiry dates in the tabs.
• Shading is a choice. Shade by open contracts colours each cell by the total open interest at that strike and date. Shade by net gamma colours it by call gamma minus put gamma. One colour marks more call gamma, the other more put gamma, deeper for larger. Calls minus puts is a counting rule. It does not say who holds the contracts.
• The "largest" tag marks the three heaviest cells on the whole grid, by whichever figure the grid is shaded by.
• The share price at capture. A line marks the row nearest it.
• The exact counts. Hover a cell to read its open call and put contracts. The "largest" tag is a ranking by the shaded figure, and nothing else. It says nothing about where the share price will go.

Play forward

A strip under the header moves the pane to a later date. Every options pane that shows the chain moves with it.

• What rolls off. Every expiry on or before the date leaves the expiry strip and the heat view. A date chosen before it moves to one still open.
• Two more columns. Call value and Put value. Each prints the option's model value per share today, then at the date, like $4.10 to $2.95.
• How the value is worked out. Black Scholes at no interest rate, from that strike's own implied volatility. The share price and the volatility are held where they are, so only time moves.
• What the gap is. Time decay, also called theta, carried to the date. Sorting either column orders the strikes by the share of value lost.
• The line under the strip. It names the at the money call and put on the expiry shown and their value today and at the date.
• At today. The two columns are gone and the pane is unchanged.

Using it for a decision:

• Strikes at an exit date. Set the date to the planned exit. The two columns show what each strike would be worth then if nothing else moved.
• How fast a position decays. Compare the two figures in a row. A near expiry loses a larger share of its value per day than a later one.
• Choosing an expiry. Step through the expiry strip at the same date. The expiry that keeps more of its value costs less to hold to that date. These values are arithmetic on last night's quotes. A move in the share price or in volatility changes them.

Reading it well

• Comparing dates. Use the tabs to read one date against another. Then use the heat view to see the dates side by side.
• The extra columns. Turn on "full set" for the gamma and delta columns. The default view is the contract counts and implied volatility only.
• Sorting by size. Total OI is the one column that ranks strikes by how many contracts of both kinds are open there.
• Sorting by the balance. Put/Call finds the strikes where one kind of contract outnumbers the other. The two counts sit beside it, so you can always see how big the numbers behind the ratio are.
• Sorting by distance. From price runs from the strike nearest the share price outward, in both directions at once.

Two common misreadings. - "Largest" ranks cells by open interest. It is arithmetic on contract counts. It is not a price level the stock respects. - No bid or ask means no live quote. Every figure comes from last night's capture.

Frequently asked questions

What does the "largest" tag mean? It marks the three cells on the grid with the most open interest. It is a rank by contract count, nothing more. Does a big open interest cell stop the share price there? No. This table is a straight count, a fact about positions people already hold. The Gamma Map's Hedging pressure tab names a call wall and a put wall from the same kind of count. Even there it never promises a price stops or turns at either one. Does this show a bid or an ask? No. These figures come from the options capture taken last night. They do not change during the trading day. What does "full set" add? It adds the eight gamma and delta columns. The table above lists every column and says which set it belongs to. What does the Put/Call column mean on one row? It is the open put contracts at that strike divided by the open calls. Above 1 means more puts than calls are open there. It cannot show who bought or sold either one. What does a dash in a cell mean? The capture carried no figure for it. A strike with no open calls has no Put/Call figure, for instance, because there is nothing to divide by. Does this pane tell me which strikes to trade? No. It is a count of open contracts and their pricing, taken from last night's capture. It names no trade to put on.

Related panes

• Reading The Options Suite is the shared primer for the words and the rules every options pane follows.
• The Panes is the full map of the panes, by workspace.
• Options Screener is where you pick a name to send into this pane.
• Expiry Ladder is the same capture added up by date instead of broken out strike by strike.