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 — 1850 — is the max pain price.
Open interest by strike · Fri, Dec 18
■ calls (up)■ puts (down)MELI 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 ≈ 41.7% · 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
0.71
-0.90
1700
0.0010
2.61
-0.91
-0.29
0.69
-0.92
1720
0.0011
2.70
-0.94
-0.32
0.67
-0.94
1740
0.0011
2.78
-0.96
-0.34
0.64
-0.96
1760
0.0011
2.85
-0.98
-0.36
0.62
-0.98
1780
0.0012
2.91
-1.00
-0.39
0.60
-0.99
1800
0.0012
2.96
-1.01
-0.41
0.57
-1.00
1820
0.0012
3.00
-1.02
-0.43
0.56
-1.00
1830
0.0012
3.01
-1.02
-0.45
0.55
-1.00
1840
0.0012
3.02
-1.02
-0.46
0.53
-1.00
1850
0.0012
3.03
-1.03
-0.47
0.52
-1.00
1860
0.0012
3.04
-1.03
-0.48
0.51
-1.00
1870
0.0013
3.04
-1.03
-0.50
0.50
-1.00
1880
0.0013
3.04
-1.02
-0.51
0.48
-1.00
1890
0.0013
3.04
-1.02
-0.52
0.47
-0.99
1900
0.0013
3.04
-1.02
-0.54
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 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.