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 — 670 — is the max pain price.
Open interest by strike · Fri, Mar 19
■ calls (up)■ puts (down)MDY open contracts per strike for Fri, Mar 19.
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, Mar 19
■ calls (up)■ puts (down)Today's traded contracts per strike (delayed).
Implied volatility by strike · Fri, Mar 19
— call IV— put IVATM ≈ 17.3% · Quoted strikes only; illiquid wings with junk fits are dropped, not smoothed.
Gamma exposure by strike · Fri, Mar 19
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, Mar 19
Call Δ
Call Θ
Strike
Γ
Vega
Put Θ
Put Δ
0.90
-0.06
555
0.0017
0.74
-0.07
-0.11
0.85
-0.07
580
0.0024
0.94
-0.08
-0.15
0.81
-0.08
600
0.0030
1.12
-0.09
-0.20
0.80
-0.08
605
0.0032
1.20
-0.09
-0.21
0.77
-0.09
615
0.0036
1.28
-0.09
-0.24
0.67
-0.10
640
0.0047
1.52
-0.10
-0.34
0.63
-0.10
650
0.0051
1.57
-0.10
-0.39
0.55
-0.10
665
0.0056
1.64
-0.10
-0.48
0.52
-0.10
670
0.0057
1.66
-0.10
-0.51
0.46
-0.09
680
0.0058
1.65
-0.10
-0.57
0.43
-0.09
685
0.0058
1.64
-0.10
-0.60
0.27
-0.07
715
0.0051
1.41
-0.09
-0.79
0.25
-0.07
720
0.0049
1.32
-0.09
-0.82
0.22
-0.07
725
0.0047
1.27
-0.09
-0.85
0.18
-0.06
735
0.0041
1.13
-0.10
-0.91
Quoted contract greeks from the delayed feed (not modeled here); the highlighted row is nearest to spot. Showing 15 strikes around the money — all 30 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.