XLK put/call ratio — latest available snapshot
The XLK put/call open-interest ratio was 1.54 for the 2026-09-04 expiry — 17,678 puts against 11,464 calls, from open interest settled on 2026-08-31 · XLK (the technology sector SPDR) · last price $183.44 on 2026-09-01
Latest available snapshot — open interest settled on 2026-08-31. This is a dated positioning read, not a live number. The static page is rebuilt nightly from the latest upstream chain available; intraday volume is not reflected until the next settlement.
What did the 2026-08-31 snapshot show?
For XLK options expiring 2026-09-04, 17,678 put contracts were outstanding against 11,464 calls — a put/call ratio of 1.54, meaning more put contracts than calls were outstanding. Across every listed expiration inside 45 days, the whole chain carried 170,589 puts against 85,824 calls, a ratio of 1.99. The ratio counts contracts, not intent: hedges, income selling and spreads all add to the same totals, so the number describes positioning without implying a direction.
How to read XLK's put/call ratio
Start with the headline expiration in the 2026-08-31 snapshot. For XLK options expiring 2026-09-04, 17,678 put contracts divided by 11,464 calls produced a put/call ratio of 1.54. Across all 7 listed expirations inside 45 days, the chain-wide ratio was 1.99, from 170,589 puts and 85,824 calls. The headline ratio was 0.45 lower than the chain-wide ratio, so this expiration was relatively more call-heavy than the 45-day chain overall. This comparison describes contract mix, not who bought or sold the options.
For historical context, we store the nearest-expiration ratio each night. For XLK, that is 20 readings since 2026-07-10. The latest was 1.54 on 2026-08-31 for the 2026-09-04 expiration: 8 recorded days came in below it and 11 above it. The recorded range was 0.72 to 23.12, with a median of 2.12. This is a short record published with its sample size, not a claim about what is normal.
A rolling set of expirations is not one continuous sentiment series, and none of these counts carries directional meaning on its own. Read why open-interest ratios count contracts, not bullish or bearish intent.
XLK put/call ratio by expiration
| Expiration | Put OI | Call OI | Put/Call |
|---|---|---|---|
| 2026-09-04 | 17,678 | 11,464 | 1.54 |
| 2026-09-11 | 6,503 | 4,567 | 1.42 |
| 2026-09-18 | 125,683 | 60,210 | 2.09 |
| 2026-09-25 | 3,881 | 4,105 | 0.94 |
| 2026-10-02 | 795 | 569 | 1.40 |
| 2026-10-09 | 211 | 16 | 13.19 |
| 2026-10-16 | 15,838 | 4,893 | 3.24 |
XLK put/call ratio history
Daily front-expiry readings from our own nightly snapshots, oldest data from 2026-07-10. Each row states the settlement date it describes.
| Settled | Front expiry | Put/Call | Last price |
|---|---|---|---|
| 2026-08-31 | 2026-09-04 | 1.54 | $183.44 |
| 2026-08-28 | 2026-09-04 | 1.87 | $185.69 |
| 2026-08-27 | 2026-09-04 | 0.72 | $185.69 |
| 2026-08-14 | 2026-08-21 | 1.25 | $190.01 |
| 2026-08-13 | 2026-08-14 | 10.10 | $190.01 |
| 2026-08-12 | 2026-08-14 | 11.41 | $190.77 |
| 2026-08-11 | 2026-08-14 | 15.40 | $188.86 |
| 2026-08-10 | 2026-08-14 | 23.12 | $186.09 |
| 2026-08-07 | 2026-08-14 | 3.53 | $186.32 |
| 2026-08-06 | 2026-08-07 | 8.20 | $187.97 |
| 2026-08-05 | 2026-08-07 | 6.57 | $185.33 |
| 2026-08-04 | 2026-08-07 | 5.14 | $185.91 |
| 2026-07-31 | 2026-08-07 | 2.85 | $178.04 |
| 2026-07-30 | 2026-07-31 | 1.00 | $175.35 |
| 2026-07-29 | 2026-07-31 | 0.96 | $175.73 |
| 2026-07-28 | 2026-07-31 | 1.09 | $166.57 |
| 2026-07-27 | 2026-07-31 | 1.18 | $171.09 |
| 2026-07-24 | 2026-07-31 | 1.17 | $171.09 |
| 2026-07-23 | 2026-07-24 | 2.37 | $175.88 |
| 2026-07-10 | 2026-07-17 | 1.06 | $185.78 |
The same XLK chain, other lenses
These figures come from the same nightly open-interest file as the rest of the XLK pages. XLK max pain turns the chain into the settlement price that would pay option holders the least; XLK open interest shows where the contracts actually sit, strike by strike; XLK gamma exposure estimates how dealers are positioned against the same book.
Common questions
What was the XLK put/call ratio in the latest available snapshot?
Using open interest settled at the close on 2026-08-31, the XLK put/call open-interest ratio was 1.54 for the 2026-09-04 expiration: 17,678 put contracts against 11,464 calls. Across every listed expiration inside 45 days the chain carried 170,589 puts against 85,824 calls, a ratio of 1.99.
What does a put/call open-interest ratio measure?
It divides the number of put contracts still outstanding by the number of call contracts still outstanding for the same expiration. It counts contracts, not trades and not intent: a put bought as portfolio insurance, a put sold for income, and a put inside a spread all add one contract to the same total. A ratio above 1 means more puts than calls exist; that is all the number itself says.
Is a high XLK put/call ratio bearish?
The ratio cannot answer that on its own, and we do not attach a direction to it. Open interest counts both sides of every contract — every put someone bought is a put someone else sold — and hedging, income selling and spreads all inflate the count without expressing a view on XLK. We publish the ratio as a description of how the chain is positioned, alongside max pain and the open-interest walls, and leave the interpretation to you.
Is the latest available XLK put/call ratio high or low for XLK?
We can only answer that against our own record, and we will say how short it is. Since 2026-07-10 we have stored 20 daily readings for XLK, each taken on whichever expiration was nearest that night: the lowest was 0.72, the median 2.12 and the highest 23.12. The most recent, 1.54 on 2026-08-31 for the 2026-09-04 expiration, came in above 8 of those days and below 11 of them. 20 days is not enough history to establish what is normal for XLK, and where a ratio sits inside a range does not imply a direction — open interest counts contracts on both sides of every trade.
When does the XLK put/call ratio update?
Open interest is settled once per trading day by the clearing house, so the ratio can only change once a day. This page is rebuilt nightly from that end-of-day file; intraday option volume does not move open interest until the next settlement.