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 — 510 — is the max pain price.
Open interest by strike · Fri, Dec 17
■ calls (up)■ puts (down)MDGL open contracts per strike for Fri, Dec 17.
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 17
■ calls (up)■ puts (down)Today's traded contracts per strike (delayed).
Implied volatility by strike · Fri, Dec 17
— call IV— put IVATM ≈ 55.9% · Quoted strikes only; illiquid wings with junk fits are dropped, not smoothed.
Gamma exposure by strike · Fri, Dec 17
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 17
Call Δ
Call Θ
Strike
Γ
Vega
Put Θ
Put Δ
0.84
-0.05
300
0.0008
1.14
-0.08
-0.16
0.78
-0.07
350
0.0011
1.40
-0.10
-0.23
0.75
-0.08
370
0.0012
1.49
-0.10
-0.26
0.73
-0.09
390
0.0012
1.57
-0.11
-0.29
0.71
-0.09
400
0.0013
1.61
-0.11
-0.30
0.70
-0.09
410
0.0013
1.64
-0.11
-0.32
0.68
-0.10
420
0.0013
1.68
-0.11
-0.33
0.66
-0.10
440
0.0014
1.73
-0.11
-0.36
0.64
-0.10
450
0.0014
1.76
-0.12
-0.38
0.63
-0.10
460
0.0014
1.78
-0.12
-0.39
0.61
-0.10
470
0.0015
1.80
-0.12
-0.41
0.60
-0.11
480
0.0015
1.82
-0.12
-0.42
0.58
-0.11
490
0.0015
1.83
-0.12
-0.44
0.57
-0.11
500
0.0015
1.85
-0.12
-0.46
0.56
-0.11
510
0.0015
1.86
-0.12
-0.47
Quoted contract greeks from the delayed feed (not modeled here); the highlighted row is nearest to spot. Showing 15 strikes around the money — all 41 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.