Event risk before this expiration:FOMC decision Wed, Sep 16 · Jobs report Fri, Oct 2 — 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 — 490 — is the max pain price.
Open interest by strike · Fri, Oct 2
■ calls (up)■ puts (down)MSFT open contracts per strike for Fri, Oct 2.
Open-interest change · 2026-09-10 → 2026-09-11
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. Biggest moves: 395 +256 · 560 +74 · 450 +55 · 500 +53
Volume by strike · Fri, Oct 2
■ calls (up)■ puts (down)Today's traded contracts per strike (delayed).
Implied volatility by strike · Fri, Oct 2
— call IV— put IVATM ≈ 23.5% · Quoted strikes only; illiquid wings with junk fits are dropped, not smoothed.
Gamma exposure by strike · Fri, Oct 2
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 2
Call Δ
Call Θ
Strike
Γ
Vega
Put Θ
Put Δ
0.89
-0.14
460
0.0058
0.22
-0.14
-0.11
0.86
-0.16
465
0.0071
0.26
-0.16
-0.14
0.83
-0.18
470
0.0085
0.31
-0.18
-0.17
0.79
-0.20
475
0.0099
0.35
-0.21
-0.22
0.73
-0.23
480
0.0114
0.39
-0.23
-0.27
0.67
-0.24
485
0.0126
0.43
-0.25
-0.33
0.61
-0.26
490
0.0136
0.46
-0.26
-0.40
0.54
-0.27
495
0.0142
0.47
-0.27
-0.47
0.47
-0.26
500
0.0143
0.47
-0.27
-0.54
0.40
-0.26
505
0.0140
0.46
-0.26
-0.61
0.33
-0.24
510
0.0132
0.43
-0.25
-0.68
0.27
-0.22
515
0.0120
0.40
-0.23
-0.74
0.22
-0.19
520
0.0106
0.35
-0.20
-0.80
0.17
-0.16
525
0.0092
0.30
-0.17
-0.85
0.13
-0.14
530
0.0077
0.26
-0.15
-0.89
Quoted contract greeks from the delayed feed (not modeled here); the highlighted row is nearest to spot. Showing 15 strikes around the money — all 34 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.