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
2026-03-25	236664	336016	572680	1.420
2026-03-26	116088	147486	263574	1.270
2026-03-27	455437	548308	1003745	1.204
2026-03-30	85124	97337	182461	1.143
2026-03-31	411013	1376167	1787180	3.348
2026-04-01	34777	36840	71617	1.059
2026-04-02	190701	605066	795767	3.173
2026-04-10	136815	221513	358328	1.619
2026-04-17	551735	2135933	2687668	3.871
2026-04-24	69741	71138	140879	1.020
2026-04-30	221877	345997	567874	1.559
2026-05-01	25626	28568	54194	1.115
2026-05-15	277055	535673	812728	1.933
2026-05-29	91962	190698	282660	2.074
2026-06-18	515328	1094935	1610263	2.125
2026-06-30	105390	118028	223418	1.120
2026-07-17	16207	27357	43564	1.688
2026-07-31	47762	46311	94073	0.970
2026-08-21	63498	64229	127727	1.012
2026-08-31	17786	9616	27402	0.541
2026-09-18	357608	424399	782007	1.187
2026-09-30	63190	48821	112011	0.773
2026-12-18	344178	590424	934602	1.715
2026-12-31	51216	28172	79388	0.550
2027-01-15	342236	416959	759195	1.218
2027-03-19	194930	104315	299245	0.535
2027-06-17	68434	55822	124256	0.816
2027-12-17	127927	212857	340784	1.664
2028-01-21	58622	85038	143660	1.451
2028-06-16	29541	19663	49204	0.666
2028-12-15	41343	27243	68586	0.659
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.