Event risk before this expiration: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 — 650 — is the max pain price.
Open interest by strike · Fri, Dec 18
■ calls (up)■ puts (down)CASY open contracts per strike for Fri, Dec 18.
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 18
■ calls (up)■ puts (down)Today's traded contracts per strike (delayed).
Implied volatility by strike · Fri, Dec 18
— call IV— put IVATM ≈ 40.9% · Quoted strikes only; illiquid wings with junk fits are dropped, not smoothed.
Gamma exposure by strike · Fri, Dec 18
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 18
Call Δ
Call Θ
Strike
Γ
Vega
Put Θ
Put Δ
0.79
-0.29
600
0.0027
0.73
-0.30
-0.21
0.76
-0.31
610
0.0029
0.78
-0.33
-0.24
0.72
-0.33
620
0.0032
0.84
-0.35
-0.28
0.69
-0.35
630
0.0033
0.88
-0.36
-0.31
0.66
-0.37
640
0.0035
0.92
-0.38
-0.35
0.62
-0.38
650
0.0036
0.95
-0.39
-0.39
0.58
-0.39
660
0.0038
0.98
-0.40
-0.42
0.54
-0.40
670
0.0038
0.99
-0.40
-0.46
0.51
-0.40
680
0.0038
1.00
-0.41
-0.50
0.47
-0.40
690
0.0038
0.99
-0.40
-0.54
0.43
-0.39
700
0.0038
0.98
-0.40
-0.58
0.40
-0.38
710
0.0037
0.96
-0.39
-0.61
0.33
-0.36
730
0.0035
0.90
-0.36
-0.68
0.30
-0.34
740
0.0034
0.87
-0.35
-0.71
0.27
-0.33
750
0.0032
0.82
-0.33
-0.75
Quoted contract greeks from the delayed feed (not modeled here); the highlighted row is nearest to spot. Showing 15 strikes around the money — all 28 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.