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 — 94 — is the max pain price.
Open interest by strike · Fri, Dec 18
■ calls (up)■ puts (down)EMXC open contracts per strike for Fri, Dec 18.
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, Dec 18
■ calls (up)■ puts (down)Today's traded contracts per strike (delayed).
Implied volatility by strike · Fri, Dec 18
— call IV— put IVATM ≈ 29.9% · Quoted strikes only; illiquid wings with junk fits are dropped, not smoothed.
Gamma exposure by strike · Fri, Dec 18
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, Dec 18
Call Δ
Call Θ
Strike
Γ
Vega
Put Θ
Put Δ
0.90
-0.03
75
0.0112
0.06
-0.03
-0.12
0.88
-0.03
77
0.0134
0.07
-0.03
-0.15
0.84
-0.03
80
0.0174
0.08
-0.03
-0.19
0.81
-0.03
82
0.0208
0.10
-0.04
-0.22
0.75
-0.04
85
0.0267
0.11
-0.04
-0.29
0.60
-0.04
90
0.0364
0.14
-0.04
-0.45
0.56
-0.04
91
0.0378
0.14
-0.04
-0.49
0.52
-0.04
92
0.0386
0.14
-0.04
-0.53
0.48
-0.04
93
0.0390
0.14
-0.04
-0.56
0.45
-0.04
94
0.0388
0.14
-0.04
-0.60
0.41
-0.04
95
0.0381
0.14
-0.04
-0.63
0.37
-0.04
96
0.0370
0.13
-0.03
-0.67
0.34
-0.04
97
0.0356
0.13
-0.03
-0.70
0.26
-0.03
100
0.0302
0.11
-0.03
-0.77
0.16
-0.03
105
0.0212
0.09
-0.02
-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 24 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.