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 — 280 — is the max pain price.
Open interest by strike · Fri, Sep 17
■ calls (up)■ puts (down)APD open contracts per strike for Fri, Sep 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, Sep 17
■ calls (up)■ puts (down)Today's traded contracts per strike (delayed).
Implied volatility by strike · Fri, Sep 17
— call IV— put IVATM ≈ 26.6% · Quoted strikes only; illiquid wings with junk fits are dropped, not smoothed.
Gamma exposure by strike · Fri, Sep 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, Sep 17
Call Δ
Call Θ
Strike
Γ
Vega
Put Θ
Put Δ
0.87
-0.02
240
0.0025
0.62
-0.03
-0.13
0.84
-0.02
250
0.0029
0.71
-0.03
-0.17
0.81
-0.03
260
0.0034
0.80
-0.03
-0.20
0.77
-0.03
270
0.0038
0.89
-0.04
-0.24
0.72
-0.03
280
0.0042
0.97
-0.04
-0.29
0.68
-0.04
290
0.0046
1.04
-0.04
-0.34
0.63
-0.04
300
0.0049
1.09
-0.04
-0.39
0.58
-0.04
310
0.0051
1.13
-0.04
-0.44
0.53
-0.04
320
0.0053
1.15
-0.04
-0.49
0.48
-0.04
330
0.0053
1.15
-0.04
-0.55
0.43
-0.04
340
0.0053
1.14
-0.04
-0.60
0.39
-0.04
350
0.0052
1.10
-0.04
-0.66
0.34
-0.04
360
0.0050
1.06
-0.04
-0.71
0.30
-0.04
370
0.0048
1.00
-0.04
-0.76
0.26
-0.03
380
0.0045
0.94
-0.03
-0.80
Quoted contract greeks from the delayed feed (not modeled here); the highlighted row is nearest to spot. Showing 15 strikes around the money — all 25 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.