Max pain // Cboe delayed data · as of Aug 5, 10:10 PM ET

ABNB max pain

Spot (delayed)$153.62
Max pain · Fri, Aug 7$145-5.6% vs spot
Expected move (ATM straddle)±$10.85±7.1% by Fri, Aug 7
Put/Call OI0.895K puts / 5K calls
Call wall$150largest call OI
Put wall$125largest put OI
IV3044.1%30-day implied vol
Net GEX+$1.4Mper 1% move · flip ≈ $115
Earnings · expectedWed, Aug 5usually after the close

Event risk before this expiration: Jobs report Fri, Aug 7 — macro releases historically overwhelm pinning effects; max pain reads weakest in event weeks.

Max pain levels

ExpiryMax painvs spotDTE
Fri, Aug 7$145-5.6%2d← 1st expiry after earnings (Wed, Aug 5)
Fri, Aug 14$145-5.6%9d
Fri, Aug 21$141-8.2%16d
Fri, Aug 28$146-5.0%23d
Fri, Sep 4$147-4.3%30d
Fri, Sep 11$147-4.3%37d
Fri, Sep 18$135-12.1%44d
Fri, Oct 16$145-5.6%72d

The writer-loss curve — where max pain comes from

spot1457597119141163185$28M$0
■ put-side pain■ call-side painTotal payout option writers would owe at each settle price (both sides, all open interest, ×100 shares) — low settles hurt put writers, high settles hurt call writers. The minimum — 145 — is the max pain price.

Open interest by strike · Fri, Aug 7

spot14575120129138147165954954
■ calls (up)■ puts (down)ABNB open contracts per strike for Fri, Aug 7.

Open-interest change — building vs unwinding

Needs two observed snapshot days for this expiration — the comparison appears automatically once the next weekday snapshot lands. We diff real observations only; nothing is estimated.

Volume by strike · Fri, Aug 7

spot14575120129138147165494494
■ calls (up)■ puts (down)Today's traded contracts per strike (delayed).

Implied volatility by strike · Fri, Aug 7

spot7597119141163185380%105%
— call IV— put IVATM ≈ 119.8% · Quoted strikes only; illiquid wings with junk fits are dropped, not smoothed.

Gamma exposure by strike · Fri, Aug 7

spotflip 115110126134142150170+$483K$483K
Net dealer gamma per strike, in dollars per 1% move, assuming the standard convention (dealers long calls, short puts) — an assumption, not an observation. Above the amber flip level hedging tends to dampen moves; below it, to amplify them.

Greeks by strike · Fri, Aug 7

Call ΔCall ΘStrikeΓVegaPut ΘPut Δ
0.76-1.111440.02320.04-1.11-0.24
0.73-1.201450.02440.04-1.20-0.27
0.70-1.271460.02550.04-1.28-0.29
0.68-1.351470.02650.04-1.35-0.32
0.65-1.411480.02740.04-1.41-0.35
0.62-1.461490.02810.04-1.46-0.38
0.59-1.501500.02860.04-1.50-0.41
0.52-1.55152.50.02950.04-1.55-0.48
0.45-1.521550.02940.04-1.52-0.56
0.38-1.42157.50.02840.04-1.43-0.63
0.31-1.261600.02650.04-1.27-0.69
0.25-1.07162.50.02390.04-1.07-0.76
0.19-0.861650.02090.03-0.87-0.81
0.15-0.67167.50.01760.03-0.68-0.86
0.11-0.511700.01440.02-0.51-0.89

Quoted contract greeks from the delayed feed (not modeled here); the highlighted row is nearest to spot. Showing 15 strikes around the money — all 54 are in the CSV. Δ per $1 of underlying · Θ per day · vega per IV point.

Stacked — layer the expirations

spot80122133143157.5182.58K0
Call open interest per strike, stacked across the checked expirations — each color is one expiry. Strikes are pruned to the liquid center of each chain.

All expirations combined — total open interest

spot55115131143162.519516K16K
■ calls (up)■ puts (down)Every expiration combined: 108K call contracts, 99K put contracts open.

Reading this honestly

Max pain is arithmetic, not prophecy: the settle price that would minimize what option writers pay out at expiration, computed from open interest alone. Prices sometimes gravitate toward heavy strikes into expiry — dealer hedging is a real flow — but the evidence that max pain predicts settlement better than chance is mixed, and we are not going to pretend otherwise. Use it as a map of where positioning is stacked, next to the fundamentals and the earnings calendar, not as a target.

Data: Cboe delayed public feed (~15 minutes), refreshed here about every 15 minutes. Open interest itself updates once daily, before the open. Educational information, not investment advice.

Keep going: ABNB workspace · max pain, explained in full · options profit calculator · GEX, defined · pin risk