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 — 50 — is the max pain price.
Open interest by strike · Fri, Dec 18
■ calls (up)■ puts (down)HPE 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 ≈ 65.8% · 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
0.93
-0.02
47
0.0066
0.04
-0.02
-0.07
0.92
-0.02
48
0.0074
0.04
-0.02
-0.08
0.91
-0.02
49
0.0081
0.05
-0.02
-0.09
0.90
-0.02
50
0.0089
0.05
-0.03
-0.10
0.83
-0.04
55
0.0129
0.07
-0.04
-0.17
0.74
-0.05
60
0.0166
0.09
-0.05
-0.26
0.65
-0.05
65
0.0192
0.11
-0.05
-0.36
0.54
-0.06
70
0.0205
0.12
-0.06
-0.46
0.45
-0.06
75
0.0203
0.12
-0.06
-0.56
0.36
-0.06
80
0.0191
0.11
-0.05
-0.65
0.29
-0.05
85
0.0173
0.10
-0.05
-0.72
0.22
-0.04
90
0.0151
0.09
-0.04
-0.79
0.17
-0.04
95
0.0129
0.07
-0.04
-0.84
0.14
-0.03
100
0.0108
0.06
-0.03
-0.88
Quoted contract greeks from the delayed feed (not modeled here); the highlighted row is nearest to spot. Showing 14 strikes around the money — all 47 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.