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 — 90 — is the max pain price.
Open interest by strike · Fri, Feb 19
■ calls (up)■ puts (down)CL open contracts per strike for Fri, Feb 19.
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, Feb 19
■ calls (up)■ puts (down)Today's traded contracts per strike (delayed).
Implied volatility by strike · Fri, Feb 19
— call IV— put IVATM ≈ 23.5% · Quoted strikes only; illiquid wings with junk fits are dropped, not smoothed.
Gamma exposure by strike · Fri, Feb 19
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, Feb 19
Call Δ
Call Θ
Strike
Γ
Vega
Put Θ
Put Δ
0.93
-0.01
77.5
0.0090
0.07
-0.01
-0.07
0.91
-0.01
80
0.0117
0.08
-0.01
-0.10
0.88
-0.01
82.5
0.0152
0.10
-0.01
-0.13
0.84
-0.01
85
0.0192
0.13
-0.01
-0.17
0.79
-0.02
87.5
0.0236
0.15
-0.02
-0.22
0.72
-0.02
90
0.0278
0.18
-0.02
-0.29
0.65
-0.02
92.5
0.0314
0.20
-0.02
-0.36
0.57
-0.02
95
0.0339
0.21
-0.02
-0.45
0.48
-0.02
97.5
0.0348
0.21
-0.02
-0.53
0.40
-0.02
100
0.0339
0.20
-0.02
-0.62
0.25
-0.02
105
0.0280
0.17
-0.02
-0.77
0.16
-0.01
110
0.0202
0.13
-0.02
-0.89
0.10
-0.01
115
0.0141
0.10
-0.02
-0.95
0.08
-0.01
120
0.0103
0.08
-0.01
-0.98
0.06
-0.01
125
0.0079
0.07
-0.00
-0.99
Quoted contract greeks from the delayed feed (not modeled here); the highlighted row is nearest to spot. Showing 15 strikes around the money — all 20 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.