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 — 60 — is the max pain price.
Open interest by strike · Thu, Jun 17
■ calls (up)■ puts (down)CBRL open contracts per strike for Thu, Jun 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 · Thu, Jun 17
■ calls (up)■ puts (down)Today's traded contracts per strike (delayed).
Implied volatility by strike · Thu, Jun 17
— call IV— put IVATM ≈ 53.3% · Quoted strikes only; illiquid wings with junk fits are dropped, not smoothed.
Gamma exposure by strike · Thu, Jun 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 · Thu, Jun 17
Call Δ
Call Θ
Strike
Γ
Vega
Put Θ
Put Δ
0.89
-0.01
42.5
0.0057
0.10
-0.01
-0.11
0.87
-0.01
45
0.0066
0.11
-0.01
-0.13
0.84
-0.01
47.5
0.0075
0.13
-0.01
-0.15
0.82
-0.01
50
0.0084
0.14
-0.02
-0.18
0.70
-0.02
60
0.0116
0.19
-0.02
-0.30
0.63
-0.02
65
0.0127
0.20
-0.02
-0.37
0.60
-0.02
67.5
0.0131
0.21
-0.02
-0.40
0.57
-0.02
70
0.0134
0.21
-0.02
-0.43
0.45
-0.02
80
0.0136
0.21
-0.02
-0.56
0.39
-0.02
85
0.0132
0.21
-0.02
-0.62
Quoted contract greeks from the delayed feed (not modeled here); the highlighted row is nearest to spot. 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.