Event risk before this expiration:CPI release Wed, Oct 14 · 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 — 140 — is the max pain price.
Open interest by strike · Fri, Oct 30
■ calls (up)■ puts (down)MRK open contracts per strike for Fri, Oct 30.
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, Oct 30
■ calls (up)■ puts (down)Today's traded contracts per strike (delayed).
Implied volatility by strike · Fri, Oct 30
— call IV— put IVATM ≈ 39.9% · Quoted strikes only; illiquid wings with junk fits are dropped, not smoothed.
Gamma exposure by strike · Fri, Oct 30
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, Oct 30
Call Δ
Call Θ
Strike
Γ
Vega
Put Θ
Put Δ
0.72
-0.12
139
0.0259
0.11
-0.12
-0.28
0.69
-0.13
140
0.0271
0.11
-0.13
-0.31
0.66
-0.13
141
0.0281
0.12
-0.13
-0.34
0.63
-0.14
142
0.0290
0.12
-0.14
-0.37
0.60
-0.14
143
0.0298
0.13
-0.14
-0.40
0.57
-0.14
144
0.0304
0.13
-0.14
-0.43
0.54
-0.14
145
0.0307
0.13
-0.14
-0.46
0.51
-0.14
146
0.0309
0.13
-0.14
-0.49
0.48
-0.14
147
0.0309
0.13
-0.14
-0.52
0.45
-0.14
148
0.0307
0.13
-0.14
-0.55
0.42
-0.14
149
0.0304
0.13
-0.14
-0.58
0.39
-0.14
150
0.0298
0.12
-0.14
-0.61
0.32
-0.13
152.5
0.0278
0.12
-0.13
-0.68
0.26
-0.12
155
0.0251
0.10
-0.12
-0.75
0.21
-0.10
157.5
0.0220
0.09
-0.10
-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 45 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.