Event risk before this expiration:FOMC decision Wed, Oct 28 — 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 — 225 — is the max pain price.
Open interest by strike · Fri, Oct 30
■ calls (up)■ puts (down)IBM open contracts per strike for Fri, Oct 30.
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 30
■ calls (up)■ puts (down)Today's traded contracts per strike (delayed).
Implied volatility by strike · Fri, Oct 30
— call IV— put IVATM ≈ 53.4% · Quoted strikes only; illiquid wings with junk fits are dropped, not smoothed.
Gamma exposure by strike · Fri, Oct 30
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 30
Call Δ
Call Θ
Strike
Γ
Vega
Put Θ
Put Δ
0.81
-0.24
212.5
0.0112
0.13
-0.24
-0.19
0.78
-0.26
215
0.0122
0.14
-0.26
-0.23
0.74
-0.28
217.5
0.0132
0.15
-0.28
-0.26
0.70
-0.30
220
0.0141
0.16
-0.30
-0.30
0.67
-0.32
222.5
0.0148
0.17
-0.32
-0.34
0.63
-0.33
225
0.0154
0.17
-0.34
-0.37
0.59
-0.34
227.5
0.0158
0.18
-0.34
-0.41
0.55
-0.35
230
0.0161
0.18
-0.35
-0.46
0.51
-0.35
232.5
0.0162
0.18
-0.35
-0.50
0.47
-0.35
235
0.0162
0.18
-0.35
-0.54
0.43
-0.35
237.5
0.0160
0.18
-0.35
-0.58
0.39
-0.34
240
0.0156
0.17
-0.34
-0.61
0.35
-0.33
242.5
0.0151
0.17
-0.33
-0.65
0.32
-0.31
245
0.0145
0.16
-0.32
-0.69
0.28
-0.30
247.5
0.0138
0.15
-0.30
-0.72
Quoted contract greeks from the delayed feed (not modeled here); the highlighted row is nearest to spot. Showing 15 strikes around the money — all 48 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.