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 — 115 — is the max pain price.
Open interest by strike · Fri, Dec 18
■ calls (up)■ puts (down)LSCC 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 ≈ 69.7% · 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
0.94
-0.03
65
0.0042
0.05
-0.04
-0.07
0.90
-0.04
70
0.0058
0.06
-0.05
-0.10
0.86
-0.05
75
0.0076
0.08
-0.06
-0.14
0.81
-0.07
80
0.0096
0.10
-0.07
-0.19
0.76
-0.08
85
0.0116
0.12
-0.08
-0.25
0.69
-0.09
90
0.0132
0.13
-0.09
-0.32
0.61
-0.09
95
0.0145
0.14
-0.10
-0.39
0.54
-0.10
100
0.0152
0.15
-0.10
-0.47
0.47
-0.10
105
0.0153
0.15
-0.10
-0.54
0.40
-0.09
110
0.0148
0.14
-0.09
-0.61
0.33
-0.09
115
0.0140
0.14
-0.09
-0.67
0.28
-0.08
120
0.0128
0.13
-0.08
-0.73
0.23
-0.07
125
0.0116
0.12
-0.07
-0.78
0.19
-0.07
130
0.0103
0.10
-0.07
-0.82
0.16
-0.06
135
0.0090
0.09
-0.06
-0.85
Quoted contract greeks from the delayed feed (not modeled here); the highlighted row is nearest to spot. Showing 15 strikes around the money — all 31 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.