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 — 370 — is the max pain price.
Open interest by strike · Fri, Jan 15
■ calls (up)■ puts (down)ELV open contracts per strike for Fri, Jan 15.
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, Jan 15
■ calls (up)■ puts (down)Today's traded contracts per strike (delayed).
Implied volatility by strike · Fri, Jan 15
— call IV— put IVATM ≈ 29.1% · Quoted strikes only; illiquid wings with junk fits are dropped, not smoothed.
Gamma exposure by strike · Fri, Jan 15
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, Jan 15
Call Δ
Call Θ
Strike
Γ
Vega
Put Θ
Put Δ
0.89
-0.08
370
0.0027
0.40
-0.08
-0.11
0.86
-0.09
380
0.0033
0.47
-0.09
-0.14
0.82
-0.10
390
0.0039
0.55
-0.10
-0.18
0.78
-0.11
400
0.0046
0.63
-0.12
-0.23
0.73
-0.13
410
0.0052
0.70
-0.13
-0.28
0.68
-0.14
420
0.0057
0.76
-0.14
-0.33
0.62
-0.14
430
0.0062
0.81
-0.15
-0.40
0.55
-0.14
440
0.0064
0.83
-0.15
-0.46
0.49
-0.14
450
0.0065
0.84
-0.15
-0.53
0.43
-0.14
460
0.0064
0.83
-0.15
-0.59
0.37
-0.14
470
0.0062
0.79
-0.14
-0.65
0.31
-0.13
480
0.0058
0.74
-0.13
-0.71
0.26
-0.12
490
0.0054
0.69
-0.12
-0.76
0.21
-0.10
500
0.0048
0.62
-0.11
-0.81
0.18
-0.09
510
0.0042
0.55
-0.10
-0.85
Quoted contract greeks from the delayed feed (not modeled here); the highlighted row is nearest to spot. Showing 15 strikes around the money — all 50 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.