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
2026-02-06	451693	1009785	1461478	2.236
2026-02-09	149250	111468	260718	0.747
2026-02-10	96724	73432	170156	0.759
2026-02-11	105419	94977	200396	0.901
2026-02-12	55334	56795	112129	1.026
2026-02-13	192699	633987	826686	3.290
2026-02-17	32013	32334	64347	1.010
2026-02-18	12972	15119	28091	1.166
2026-02-19	1753	1371	3124	0.782
2026-02-20	578010	2171009	2749019	3.756
2026-02-27	254554	851726	1106280	3.346
2026-03-06	58898	78122	137020	1.326
2026-03-13	28654	33248	61902	1.160
2026-03-20	684402	1596991	2281393	2.333
2026-03-27	358	424	782	1.184
2026-03-31	180566	972307	1152873	5.385
2026-04-17	94349	284825	379174	3.019
2026-04-30	126626	195688	322314	1.545
2026-05-15	30051	60055	90106	1.998
2026-05-29	22952	95382	118334	4.156
2026-06-18	405271	974729	1380000	2.405
2026-06-30	64457	83595	148052	1.297
2026-07-31	6948	13185	20133	1.898
2026-09-18	294840	268341	563181	0.910
2026-09-30	46959	35384	82343	0.754
2026-12-18	309166	476435	785601	1.541
2026-12-31	16240	18177	34417	1.119
2027-01-15	319190	344387	663577	1.079
2027-03-19	102489	66173	168662	0.646
2027-06-17	35393	38678	74071	1.093
2027-12-17	123286	203079	326365	1.647
2028-01-21	47313	65900	113213	1.393
2028-06-16	25036	13000	38036	0.519
2028-12-15	17859	15104	32963	0.846
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.