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 — 117 — is the max pain price.
Open interest by strike · Fri, Jan 15
■ calls (up)■ puts (down)IEI open contracts per strike for Fri, Jan 15.
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 15
■ calls (up)■ puts (down)Today's traded contracts per strike (delayed).
Implied volatility by strike · Fri, Jan 15
— call IV— put IVATM ≈ 5.0% · Quoted strikes only; illiquid wings with junk fits are dropped, not smoothed.
Gamma exposure by strike · Fri, Jan 15
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 15
Call Δ
Call Θ
Strike
Γ
Vega
Put Θ
Put Δ
0.97
-0.00
108
0.0183
0.04
-0.00
-0.04
0.96
-0.00
109
0.0272
0.06
-0.00
-0.06
0.94
-0.00
110
0.0408
0.08
-0.00
-0.08
0.90
-0.00
111
0.0607
0.10
-0.00
-0.12
0.84
-0.00
112
0.0881
0.14
-0.01
-0.19
0.75
-0.01
113
0.1205
0.18
-0.01
-0.29
0.62
-0.01
114
0.1466
0.21
-0.01
-0.43
0.47
-0.01
115
0.1505
0.22
-0.01
-0.59
0.34
-0.01
116
0.1314
0.20
-0.01
-0.73
0.24
-0.01
117
0.1037
0.18
-0.01
-0.82
0.17
-0.01
118
0.0784
0.15
-0.00
-0.88
0.12
-0.00
119
0.0587
0.12
-0.00
-0.92
0.09
-0.00
120
0.0442
0.10
-0.00
-0.94
0.05
-0.00
122
0.0258
0.07
-0.00
-0.97
0.04
-0.00
123
0.0202
0.06
-0.00
-0.97
Quoted contract greeks from the delayed feed (not modeled here); the highlighted row is nearest to spot. Showing 15 strikes around the money — all 19 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.