Event risk before this expiration:FOMC decision Wed, Oct 28 — 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 — 650 — is the max pain price.
Open interest by strike · Wed, Oct 28
■ calls (up)■ puts (down)META open contracts per strike for Wed, Oct 28.
Open-interest change · 2026-10-23 → 2026-10-26
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; 14 strikes were in only one day’s snapshot (each keeps its largest strikes) and are left out. Biggest moves: 700 +798 · 650 +464 · 670 +386 · 645 +346
Volume by strike · Wed, Oct 28
■ calls (up)■ puts (down)Today's traded contracts per strike (delayed).
Implied volatility by strike · Wed, Oct 28
— call IV— put IVATM ≈ 46.5% · Quoted strikes only; illiquid wings with junk fits are dropped, not smoothed.
Gamma exposure by strike · Wed, Oct 28
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 · Wed, Oct 28
Call Δ
Call Θ
Strike
Γ
Vega
Put Θ
Put Δ
0.84
-1.29
610
0.0113
0.12
-1.30
-0.16
0.81
-1.49
612.5
0.0126
0.13
-1.50
-0.19
0.77
-1.70
615
0.0139
0.14
-1.70
-0.23
0.70
-2.07
620
0.0161
0.16
-2.08
-0.30
0.61
-2.36
625
0.0177
0.18
-2.36
-0.39
0.57
-2.44
627.5
0.0181
0.18
-2.45
-0.43
0.52
-2.49
630
0.0183
0.19
-2.49
-0.48
0.47
-2.49
632.5
0.0183
0.19
-2.50
-0.53
0.43
-2.45
635
0.0180
0.18
-2.46
-0.57
0.39
-2.37
637.5
0.0174
0.18
-2.38
-0.61
0.34
-2.25
640
0.0167
0.17
-2.26
-0.66
0.31
-2.11
642.5
0.0158
0.17
-2.12
-0.69
0.27
-1.96
645
0.0148
0.15
-1.97
-0.73
0.24
-1.78
647.5
0.0137
0.14
-1.80
-0.77
0.21
-1.61
650
0.0126
0.13
-1.62
-0.80
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.