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 — 960 — is the max pain price.
Open interest by strike · Fri, Mar 19
■ calls (up)■ puts (down)GS open contracts per strike for Fri, Mar 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, Mar 19
■ calls (up)■ puts (down)Today's traded contracts per strike (delayed).
Implied volatility by strike · Fri, Mar 19
— call IV— put IVATM ≈ 31.4% · Quoted strikes only; illiquid wings with junk fits are dropped, not smoothed.
Gamma exposure by strike · Fri, Mar 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, Mar 19
Call Δ
Call Θ
Strike
Γ
Vega
Put Θ
Put Δ
0.65
-0.21
850
0.0021
2.07
-0.22
-0.36
0.64
-0.22
855
0.0021
2.10
-0.22
-0.37
0.63
-0.22
860
0.0021
2.12
-0.23
-0.39
0.62
-0.22
865
0.0022
2.14
-0.23
-0.40
0.61
-0.22
870
0.0022
2.15
-0.23
-0.41
0.58
-0.23
880
0.0022
2.18
-0.23
-0.43
0.57
-0.23
885
0.0022
2.19
-0.23
-0.44
0.56
-0.23
890
0.0022
2.21
-0.23
-0.45
0.54
-0.23
900
0.0023
2.22
-0.23
-0.47
0.53
-0.23
905
0.0023
2.22
-0.23
-0.49
0.52
-0.23
910
0.0023
2.23
-0.23
-0.50
0.51
-0.23
915
0.0023
2.23
-0.23
-0.51
0.49
-0.23
920
0.0023
2.23
-0.23
-0.52
0.48
-0.23
925
0.0023
2.23
-0.23
-0.53
0.43
-0.22
950
0.0023
2.19
-0.22
-0.59
Quoted contract greeks from the delayed feed (not modeled here); the highlighted row is nearest to spot. Showing 15 strikes around the money — all 60 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.