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 — 290 — is the max pain price.
Open interest by strike · Thu, Dec 31
■ calls (up)■ puts (down)IWM open contracts per strike for Thu, Dec 31.
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: 175 +2K · 260 +897 · 290 +445 · 250 +270
Volume by strike · Thu, Dec 31
■ calls (up)■ puts (down)Today's traded contracts per strike (delayed).
Implied volatility by strike · Thu, Dec 31
— call IV— put IVATM ≈ 18.4% · Quoted strikes only; illiquid wings with junk fits are dropped, not smoothed.
Gamma exposure by strike · Thu, Dec 31
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 · Thu, Dec 31
Call Δ
Call Θ
Strike
Γ
Vega
Put Θ
Put Δ
0.69
-0.06
275
0.0153
0.41
-0.07
-0.32
0.68
-0.06
276
0.0158
0.42
-0.07
-0.34
0.66
-0.06
277
0.0162
0.43
-0.07
-0.35
0.65
-0.06
278
0.0166
0.43
-0.07
-0.37
0.63
-0.06
279
0.0170
0.44
-0.07
-0.38
0.61
-0.06
280
0.0174
0.45
-0.07
-0.40
0.60
-0.06
281
0.0177
0.45
-0.07
-0.42
0.56
-0.07
283
0.0183
0.46
-0.07
-0.45
0.53
-0.07
285
0.0188
0.47
-0.07
-0.49
0.43
-0.06
290
0.0192
0.46
-0.06
-0.58
0.34
-0.06
295
0.0182
0.43
-0.05
-0.68
0.26
-0.05
299
0.0166
0.39
-0.04
-0.75
0.25
-0.05
300
0.0162
0.38
-0.04
-0.77
0.17
-0.04
305
0.0133
0.31
-0.03
-0.84
0.12
-0.03
310
0.0103
0.24
-0.02
-0.90
Quoted contract greeks from the delayed feed (not modeled here); the highlighted row is nearest to spot. Showing 15 strikes around the money — all 60 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.