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Max pain // Cboe delayed data · as of Jul 29, 2:16 AM ET

HOOD max pain

Spot (delayed)$93.75
Max pain · Fri, Oct 16$90-4.0% vs spot
Expected move (ATM straddle)±$25.17±26.9% by Fri, Oct 16
Put/Call OI0.7227K puts / 37K calls
Call wall$120largest call OI
Put wall$90largest put OI
IV3079.3%30-day implied vol
Net GEX+$553Kper 1% move · flip ≈ $20
Earnings · expectedWed, Jul 29usually after the close

Max pain levels

ExpiryMax painvs spotDTE
Fri, Jul 31$98+4.5%2d← 1st expiry after earnings (Wed, Jul 29)
Fri, Aug 7$100+6.7%9d
Fri, Aug 14$104+10.9%16d
Fri, Aug 21$94+0.3%23d
Fri, Aug 28$102+8.8%30d
Fri, Sep 4$94+0.3%37d
Fri, Sep 18$95+1.3%51d
Fri, Oct 16$90-4.0%79d

The writer-loss curve — where max pain comes from

spot9055095140185230$389M$0
■ 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 — 90 — is the max pain price.

Open interest by strike · Fri, Oct 16

spot90545801151501854K4K
■ calls (up)■ puts (down)HOOD open contracts per strike for Fri, Oct 16.

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, Oct 16

spot90545801151501855K5K
■ calls (up)■ puts (down)Today's traded contracts per strike (delayed).

Implied volatility by strike · Fri, Oct 16

spot55095140185230256%62%
— call IV— put IVATM ≈ 72.2% · Quoted strikes only; illiquid wings with junk fits are dropped, not smoothed.

Gamma exposure by strike · Fri, Oct 16

spotflip 20155085120155190+$331K$331K
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, Oct 16

Call ΔCall ΘStrikeΓVegaPut ΘPut Δ
0.91-0.03600.00450.07-0.03-0.09
0.88-0.04650.00580.09-0.04-0.12
0.84-0.05700.00730.11-0.05-0.16
0.79-0.06750.00880.13-0.06-0.21
0.73-0.06800.01010.14-0.07-0.27
0.68-0.07850.01120.16-0.07-0.33
0.61-0.07900.01200.17-0.08-0.39
0.55-0.08950.01250.17-0.08-0.45
0.49-0.081000.01270.17-0.08-0.51
0.43-0.081050.01260.17-0.08-0.57
0.38-0.071100.01220.17-0.07-0.63
0.33-0.071150.01160.16-0.07-0.68
0.28-0.061200.01090.15-0.06-0.73
0.24-0.061250.01010.14-0.06-0.77
0.21-0.051300.00920.12-0.05-0.81

Quoted contract greeks from the delayed feed (not modeled here); the highlighted row is nearest to spot. Showing 15 strikes around the money — all 42 are in the CSV. Δ per $1 of underlying · Θ per day · vega per IV point.

Stacked — layer the expirations

spot5083941051161359K0
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 history

History starts accruing now: first snapshot taken 2026-07-28. We chart only days we actually observed — check back as the record builds. The measured hit-rate across all tickers lives on the accuracy ledger.

All expirations combined — total open interest

spot5458610413518575K75K
■ calls (up)■ puts (down)Every expiration combined: 951K call contracts, 627K put contracts open.

Reading this honestly

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.

Keep going: HOOD workspace · max pain, explained in full · options profit calculator · GEX, defined · pin risk