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 — 410 — is the max pain price.
Open interest by strike · Fri, Sep 17
■ calls (up)■ puts (down)HCA open contracts per strike for Fri, Sep 17.
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, Sep 17
■ calls (up)■ puts (down)Today's traded contracts per strike (delayed).
Implied volatility by strike · Fri, Sep 17
— call IV— put IVATM ≈ 32.0% · Quoted strikes only; illiquid wings with junk fits are dropped, not smoothed.
Gamma exposure by strike · Fri, Sep 17
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, Sep 17
Call Δ
Call Θ
Strike
Γ
Vega
Put Θ
Put Δ
0.84
-0.04
360
0.0016
1.04
-0.05
-0.16
0.78
-0.05
390
0.0021
1.29
-0.06
-0.23
0.75
-0.05
400
0.0022
1.36
-0.07
-0.26
0.73
-0.06
410
0.0023
1.43
-0.07
-0.28
0.70
-0.06
420
0.0024
1.49
-0.07
-0.31
0.68
-0.07
430
0.0026
1.54
-0.08
-0.34
0.65
-0.07
440
0.0026
1.60
-0.08
-0.37
0.62
-0.07
450
0.0027
1.64
-0.08
-0.40
0.60
-0.07
460
0.0028
1.67
-0.08
-0.43
0.51
-0.07
490
0.0029
1.72
-0.08
-0.52
0.49
-0.07
500
0.0029
1.72
-0.08
-0.55
0.43
-0.07
520
0.0029
1.70
-0.08
-0.61
0.38
-0.07
540
0.0028
1.65
-0.08
-0.67
0.34
-0.07
560
0.0027
1.58
-0.07
-0.73
0.26
-0.06
600
0.0024
1.39
-0.07
-0.84
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.