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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
2026-06-16 193465 357969 551434 1.850
2026-06-17 125338 139568 264906 1.114
2026-06-18 1256106 2842797 4098903 2.263
2026-06-22 65514 74090 139604 1.131
2026-06-23 44539 42439 86978 0.953
2026-06-24 26696 25090 51786 0.940
2026-06-25 21805 14143 35948 0.649
2026-06-26 148351 611529 759880 4.122
2026-06-29 4594 4491 9085 0.978
2026-06-30 312846 1193820 1506666 3.816
2026-07-02 74337 140010 214347 1.883
2026-07-10 66223 86483 152706 1.306
2026-07-17 458492 1920623 2379115 4.189
2026-07-24 20902 21068 41970 1.008
2026-07-31 174169 966611 1140780 5.550
2026-08-21 300296 1343935 1644231 4.475
2026-08-31 120030 209008 329038 1.741
2026-09-18 483865 836076 1319941 1.728
2026-09-30 279150 150619 429769 0.540
2026-10-16 68530 96199 164729 1.404
2026-10-30 47327 38044 85371 0.804
2026-11-20 58208 49598 107806 0.852
2026-11-30 13010 13739 26749 1.056
2026-12-18 406887 874023 1280910 2.148
2026-12-31 95831 91049 186880 0.950
2027-01-15 405922 650550 1056472 1.603
2027-03-19 233092 186349 419441 0.799
2027-03-31 32341 22490 54831 0.695
2027-06-17 180162 140651 320813 0.781
2027-09-17 70808 25645 96453 0.362
2027-12-17 347751 230030 577781 0.661
2028-01-21 95559 131205 226764 1.373
2028-06-16 42788 36732 79520 0.858
2028-12-15 77159 63373 140532 0.821

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.