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 — 650 — is the max pain price.
Open interest by strike · Fri, Jan 15
■ calls (up)■ puts (down)META open contracts per strike for Fri, Jan 15.
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; 2 strikes were in only one day’s snapshot (each keeps its largest strikes) and are left out. Biggest moves: 570 +884 · 560 +573 · 650 +409 · 640 +365
Volume by strike · Fri, Jan 15
■ calls (up)■ puts (down)Today's traded contracts per strike (delayed).
Implied volatility by strike · Fri, Jan 15
— call IV— put IVATM ≈ 37.3% · Quoted strikes only; illiquid wings with junk fits are dropped, not smoothed.
Gamma exposure by strike · Fri, Jan 15
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, Jan 15
Call Δ
Call Θ
Strike
Γ
Vega
Put Θ
Put Δ
0.79
-0.20
560
0.0025
0.87
-0.21
-0.22
0.76
-0.21
570
0.0027
0.93
-0.22
-0.24
0.73
-0.23
580
0.0029
0.99
-0.23
-0.28
0.70
-0.24
590
0.0031
1.04
-0.25
-0.31
0.67
-0.25
600
0.0032
1.08
-0.26
-0.34
0.63
-0.26
610
0.0034
1.12
-0.26
-0.38
0.60
-0.26
620
0.0035
1.15
-0.27
-0.41
0.56
-0.27
630
0.0035
1.17
-0.27
-0.45
0.53
-0.27
640
0.0036
1.18
-0.28
-0.48
0.49
-0.27
650
0.0036
1.19
-0.28
-0.52
0.46
-0.27
660
0.0036
1.18
-0.27
-0.56
0.42
-0.26
670
0.0036
1.16
-0.27
-0.59
0.39
-0.26
680
0.0035
1.14
-0.26
-0.63
0.36
-0.25
690
0.0034
1.11
-0.26
-0.66
0.33
-0.24
700
0.0033
1.07
-0.25
-0.69
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.