Event risk before this expiration:FOMC decision Wed, Oct 28 · Jobs report Fri, Nov 6 · CPI release Tue, Nov 10 · Jobs report Fri, Dec 4 · FOMC decision Wed, Dec 9 · CPI release Thu, Dec 10 — macro releases historically overwhelm pinning effects; max pain reads weakest in event weeks.
■ 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 — 148 — is the max pain price.
Open interest by strike · Fri, Jan 15
■ calls (up)■ puts (down)ACWI open contracts per strike for Fri, Jan 15.
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, Jan 15
■ calls (up)■ puts (down)Today's traded contracts per strike (delayed).
Implied volatility by strike · Fri, Jan 15
— call IV— put IVATM ≈ 15.3% · Quoted strikes only; illiquid wings with junk fits are dropped, not smoothed.
Gamma exposure by strike · Fri, Jan 15
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, Jan 15
Call Δ
Call Θ
Strike
Γ
Vega
Put Θ
Put Δ
0.83
-0.03
144
0.0166
0.19
-0.03
-0.18
0.81
-0.03
145
0.0178
0.20
-0.03
-0.20
0.79
-0.03
147
0.0205
0.22
-0.03
-0.23
0.77
-0.03
148
0.0219
0.23
-0.03
-0.24
0.75
-0.03
149
0.0235
0.24
-0.03
-0.26
0.73
-0.03
150
0.0251
0.25
-0.03
-0.28
0.60
-0.03
155
0.0334
0.29
-0.03
-0.42
0.57
-0.03
156
0.0348
0.29
-0.03
-0.45
0.49
-0.03
158
0.0364
0.30
-0.03
-0.53
0.46
-0.03
159
0.0366
0.30
-0.03
-0.56
0.42
-0.03
160
0.0362
0.29
-0.03
-0.60
0.39
-0.03
161
0.0355
0.29
-0.03
-0.64
0.35
-0.02
162
0.0344
0.28
-0.03
-0.67
0.32
-0.02
163
0.0329
0.27
-0.02
-0.70
0.27
-0.02
165
0.0295
0.25
-0.02
-0.76
Quoted contract greeks from the delayed feed (not modeled here); the highlighted row is nearest to spot. Showing 15 strikes around the money — all 49 are in the CSV. Δ per $1 of underlying · Θ per day · vega per IV point.
Stacked — layer the expirations
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.
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.