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 — 20 — is the max pain price.
Open interest by strike · Fri, Apr 16
■ calls (up)■ puts (down)DTCR open contracts per strike for Fri, Apr 16.
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, Apr 16
■ calls (up)■ puts (down)Today's traded contracts per strike (delayed).
Implied volatility by strike · Fri, Apr 16
— call IV— put IVATM ≈ 30.5% · Quoted strikes only; illiquid wings with junk fits are dropped, not smoothed.
Gamma exposure by strike · Fri, Apr 16
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, Apr 16
Call Δ
Call Θ
Strike
Γ
Vega
Put Θ
Put Δ
0.95
-0.00
15
0.0115
0.02
-0.00
-0.06
0.86
-0.00
20
0.0313
0.04
-0.01
-0.15
0.83
-0.01
21
0.0380
0.05
-0.01
-0.18
0.79
-0.01
22
0.0458
0.05
-0.01
-0.22
0.75
-0.01
23
0.0546
0.06
-0.01
-0.27
0.69
-0.01
24
0.0639
0.06
-0.01
-0.33
0.63
-0.01
25
0.0726
0.07
-0.01
-0.40
0.55
-0.01
26
0.0790
0.07
-0.01
-0.48
0.47
-0.01
27
0.0814
0.07
-0.01
-0.57
0.40
-0.01
28
0.0793
0.07
-0.01
-0.65
0.33
-0.01
29
0.0738
0.06
-0.01
-0.72
0.28
-0.01
30
0.0665
0.06
-0.01
-0.79
0.23
-0.00
31
0.0590
0.05
-0.01
-0.84
0.17
-0.00
33
0.0456
0.04
-0.01
-0.91
0.12
-0.00
36
0.0316
0.04
-0.00
-0.98
Quoted contract greeks from the delayed feed (not modeled here); the highlighted row is nearest to spot. Showing 15 strikes around the money — all 16 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.