SPY Options Chain by Expiration – Open Interest & Put/Call Ratio

Explore the SPY options chain aggregated by expiration date, with call and put open interest, total OI and put/call ratios. Use this overview to spot where options positioning is most concentrated and which expirations carry bullish, bearish or neutral sentiment for SPY.

Options Analysis Short-Term Forecast Short Interest Report

Market Sentiment from SPY Options by Expiration Date

The table below aggregates SPY options data by expiration date, including call volume, put volume, total open interest and the put/call ratio. Each row is assigned a sentiment label and numerical sentiment score, highlighting expirations where positioning is extremely bullish, defensive or balanced. Click on an expiration date to drill down into the detailed options chain for that maturity.

Expiration Date	Call OI	Put OI	Total Open Interest	Put/Call Ratio
2026-08-17	159404	212165	371569	1.331
2026-08-18	59442	77280	136722	1.300
2026-08-19	52247	49544	101791	0.948
2026-08-20	33200	75837	109037	2.284
2026-08-21	933060	2759243	3692303	2.957
2026-08-24	22355	36458	58813	1.631
2026-08-25	9542	25827	35369	2.707
2026-08-26	13275	61603	74878	4.641
2026-08-27	7007	3856	10863	0.550
2026-08-28	115172	181894	297066	1.579
2026-08-31	285778	588895	874673	2.061
2026-09-04	169200	125909	295109	0.744
2026-09-11	49807	90578	140385	1.819
2026-09-18	811315	3110137	3921452	3.833
2026-09-25	8463	16334	24797	1.930
2026-09-30	343685	940754	1284439	2.737
2026-10-02	1696	1667	3363	0.983
2026-10-16	208850	1137113	1345963	5.445
2026-10-30	121273	436171	557444	3.597
2026-11-20	121808	1512981	1634789	12.421
2026-11-30	50734	36892	87626	0.727
2026-12-18	494159	1655435	2149594	3.350
2026-12-31	104554	130854	235408	1.252
2027-01-15	471482	770708	1242190	1.635
2027-01-29	7650	6555	14205	0.857
2027-03-19	273547	255599	529146	0.934
2027-03-31	44954	40924	85878	0.910
2027-06-17	248419	280612	529031	1.130
2027-06-30	26478	28576	55054	1.079
2027-09-17	102973	78850	181823	0.766
2027-12-17	348021	267959	615980	0.770
2028-01-21	154229	157682	311911	1.022
2028-06-16	55917	51507	107424	0.921
2028-12-15	101924	79397	181321	0.779
How the Options Sentiment Score Is Calculated This sentiment framework evaluates market bias for SPY based on aggregated options data by expiration date. The key metrics are: Put/Call Ratio (PCR): Compares put and call activity. A higher PCR usually indicates more defensive or bearish positioning, while a lower PCR suggests bullish call demand. Open Interest (OI): Represents the number of outstanding option contracts. Higher open interest reflects strong market attention, hedging activity or speculative positioning around SPY. Unusual activity ⚠️: Expirations with extreme PCR or unusually high OI are flagged with a warning icon, signaling concentrated bets, hedging pressure or potential event-driven risk. The sentiment score combines PCR and OI into a 0–100 scale, then classifies each expiration into intuitive labels such as Strong Bullish, Moderate Bullish, Neutral, Moderate Bearish, Strong Bearish. Higher scores reflect more aggressive bullish positioning in SPY options, while lower scores highlight more defensive or bearish structures.