iShares Russell 2000 ETF

PCR by strike shows the ratio of put open interest to call open interest at each individual strike in the IWM option chain. A PCR above 1 at a strike means more puts than calls are open there — indicating bearish hedging or directional bets. A PCR below 1 means more calls — indicating bullish positioning. Unlike the overall PCR of 3.57, the by-strike view reveals exactly where on the chain sentiment shifts from bullish to bearish.

The overall OI-based put-call ratio for IWM on NYSE/NASDAQ is currently 3.57, indicating bearish sentiment. A PCR above 1.2 is typically considered bearish (more put protection being bought), while below 0.8 is bullish (call buying dominates). The by-strike chart on StrikeVue breaks this down at every strike so you can see exactly where the sentiment is concentrated.

Look for strikes where the PCR is extremely high (heavy put concentration) — these often act as support zones as dealers who are short those puts buy the underlying to hedge. Strikes with very low PCR (heavy call concentration) often act as resistance. Combined with the OI walls chart, PCR by strike helps you identify the highest-conviction levels in the IWM option chain and anticipate where price may stall or reverse.

IWM put-call ratio by strike is refreshed every 5 minutes during United States market hours using live NYSE/NASDAQ open interest data. StrikeVue is completely free and requires no login or broker account.