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 — 145 — is the max pain price.
Open interest by strike · Fri, Dec 17
■ calls (up)■ puts (down)ACWI open contracts per strike for Fri, Dec 17.
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, Dec 17
■ calls (up)■ puts (down)Today's traded contracts per strike (delayed).
Implied volatility by strike · Fri, Dec 17
— call IV— put IVATM ≈ 18.3% · Quoted strikes only; illiquid wings with junk fits are dropped, not smoothed.
Gamma exposure by strike · Fri, Dec 17
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, Dec 17
Call Δ
Call Θ
Strike
Γ
Vega
Put Θ
Put Δ
0.90
-0.00
120
0.0042
0.29
-0.01
-0.10
0.88
-0.00
125
0.0050
0.34
-0.01
-0.13
0.86
-0.01
130
0.0060
0.37
-0.01
-0.15
0.83
-0.01
135
0.0072
0.43
-0.01
-0.18
0.79
-0.01
140
0.0084
0.48
-0.01
-0.22
0.75
-0.01
145
0.0098
0.52
-0.01
-0.27
0.70
-0.01
150
0.0112
0.57
-0.01
-0.33
0.64
-0.01
155
0.0126
0.61
-0.01
-0.40
0.58
-0.01
160
0.0137
0.64
-0.01
-0.48
0.51
-0.01
165
0.0144
0.66
-0.01
-0.57
0.45
-0.01
170
0.0146
0.65
-0.01
-0.66
0.38
-0.01
175
0.0143
0.63
-0.01
-0.76
0.32
-0.01
180
0.0135
0.58
-0.01
-0.84
0.26
-0.01
185
0.0123
0.54
-0.01
-0.92
Quoted contract greeks from the delayed feed (not modeled here); the highlighted row is nearest to spot. Showing 14 strikes around the money — all 15 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.