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 19
■ calls (up)■ puts (down)HCA open contracts per strike for Fri, Jan 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, Jan 19
■ calls (up)■ puts (down)Today's traded contracts per strike (delayed).
Implied volatility by strike · Fri, Jan 19
— call IV— put IVATM ≈ 32.3% · Quoted strikes only; illiquid wings with junk fits are dropped, not smoothed.
Gamma exposure by strike · Fri, Jan 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, Jan 19
Call Δ
Call Θ
Strike
Γ
Vega
Put Θ
Put Δ
0.79
-0.02
380
0.0013
1.94
-0.04
-0.23
0.78
-0.02
390
0.0013
2.02
-0.04
-0.24
0.76
-0.03
400
0.0014
2.09
-0.04
-0.26
0.74
-0.03
410
0.0014
2.16
-0.04
-0.28
0.73
-0.03
420
0.0015
2.23
-0.04
-0.30
0.71
-0.03
430
0.0016
2.29
-0.05
-0.32
0.70
-0.03
440
0.0016
2.35
-0.05
-0.34
0.68
-0.03
450
0.0016
2.40
-0.05
-0.36
0.66
-0.04
460
0.0017
2.45
-0.05
-0.38
0.65
-0.04
470
0.0017
2.49
-0.05
-0.40
0.61
-0.04
490
0.0018
2.56
-0.05
-0.44
0.60
-0.04
500
0.0018
2.59
-0.05
-0.46
0.57
-0.04
520
0.0018
2.64
-0.06
-0.51
0.39
-0.04
640
0.0018
2.58
-0.05
-0.78
Quoted contract greeks from the delayed feed (not modeled here); the highlighted row is nearest to spot. Showing 14 strikes around the money — all 21 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.