Event risk before this expiration:CPI release Wed, Oct 14 — 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 — 29 — is the max pain price.
Open interest by strike · Fri, Oct 23
■ calls (up)■ puts (down)DOW open contracts per strike for Fri, Oct 23.
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, Oct 23
■ calls (up)■ puts (down)Today's traded contracts per strike (delayed).
Implied volatility by strike · Fri, Oct 23
— call IV— put IVATM ≈ 50.3% · Quoted strikes only; illiquid wings with junk fits are dropped, not smoothed.
Gamma exposure by strike · Fri, Oct 23
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, Oct 23
Call Δ
Call Θ
Strike
Γ
Vega
Put Θ
Put Δ
0.93
-0.02
24
0.0423
0.01
-0.02
-0.07
0.89
-0.03
25
0.0674
0.01
-0.03
-0.12
0.85
-0.03
25.5
0.0836
0.01
-0.03
-0.15
0.81
-0.03
26
0.1016
0.01
-0.03
-0.19
0.75
-0.04
26.5
0.1204
0.01
-0.04
-0.25
0.69
-0.04
27
0.1382
0.02
-0.04
-0.31
0.62
-0.04
27.5
0.1527
0.02
-0.04
-0.38
0.54
-0.04
28
0.1616
0.02
-0.04
-0.46
0.46
-0.04
28.5
0.1631
0.02
-0.04
-0.55
0.38
-0.04
29
0.1572
0.02
-0.04
-0.63
0.31
-0.04
29.5
0.1450
0.02
-0.04
-0.70
0.24
-0.03
30
0.1286
0.01
-0.04
-0.76
0.19
-0.03
30.5
0.1103
0.01
-0.03
-0.82
0.15
-0.03
31
0.0922
0.01
-0.03
-0.86
0.11
-0.02
31.5
0.0755
0.01
-0.02
-0.90
Quoted contract greeks from the delayed feed (not modeled here); the highlighted row is nearest to spot. Showing 15 strikes around the money — all 30 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.