Event risk before this expiration: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 — 275 — is the max pain price.
Open interest by strike · Fri, Dec 18
■ calls (up)■ puts (down)IWM open contracts per strike for Fri, Dec 18.
Open-interest change · 2026-10-28 → 2026-10-29
Net contracts opened (up, green) or closed (down, red) per strike since the previous snapshot: where the walls are building and where they’re unwinding. Only strikes observed on both days are compared. Biggest moves: 240 +24K · 210 +5K · 270 +5K · 300 −4K
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 ≈ 18.5% · 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
0.80
-0.05
268
0.0124
0.29
-0.07
-0.22
0.78
-0.06
270
0.0135
0.31
-0.07
-0.24
0.75
-0.06
272
0.0147
0.34
-0.07
-0.27
0.74
-0.06
273
0.0152
0.34
-0.07
-0.28
0.71
-0.06
275
0.0164
0.35
-0.07
-0.31
0.66
-0.07
278
0.0181
0.38
-0.07
-0.36
0.63
-0.07
280
0.0191
0.40
-0.07
-0.40
0.53
-0.07
285
0.0210
0.41
-0.07
-0.49
0.42
-0.07
290
0.0214
0.41
-0.07
-0.60
0.35
-0.07
293
0.0208
0.39
-0.06
-0.66
0.31
-0.06
295
0.0200
0.37
-0.05
-0.70
0.26
-0.06
298
0.0184
0.34
-0.04
-0.76
0.22
-0.05
300
0.0171
0.31
-0.04
-0.79
0.15
-0.04
305
0.0133
0.25
-0.03
-0.86
0.09
-0.03
310
0.0097
0.18
-0.02
-0.92
Quoted contract greeks from the delayed feed (not modeled here); the highlighted row is nearest to spot. Showing 15 strikes around the money — all 59 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 history — nearest expiry vs price
— max pain (nearest expiry)- - delayed closeOne point per snapshot day since 2026-07-28; unobserved days are gaps, not guesses.
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.