Event risk before this expiration:Jobs report Fri, Oct 2 · CPI release Wed, Oct 14 — 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 — 460 — is the max pain price.
Open interest by strike · Fri, Oct 16
■ calls (up)■ puts (down)MSFT open contracts per strike for Fri, Oct 16.
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 16
■ calls (up)■ puts (down)Today's traded contracts per strike (delayed).
Implied volatility by strike · Fri, Oct 16
— call IV— put IVATM ≈ 23.5% · Quoted strikes only; illiquid wings with junk fits are dropped, not smoothed.
Gamma exposure by strike · Fri, Oct 16
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 16
Call Δ
Call Θ
Strike
Γ
Vega
Put Θ
Put Δ
0.85
-0.14
460
0.0064
0.32
-0.15
-0.15
0.82
-0.16
465
0.0074
0.36
-0.17
-0.18
0.78
-0.18
470
0.0085
0.41
-0.18
-0.22
0.74
-0.20
475
0.0095
0.45
-0.20
-0.27
0.69
-0.21
480
0.0105
0.48
-0.22
-0.32
0.64
-0.22
485
0.0114
0.52
-0.23
-0.37
0.58
-0.23
490
0.0120
0.54
-0.23
-0.43
0.52
-0.23
495
0.0123
0.55
-0.24
-0.49
0.46
-0.23
500
0.0124
0.54
-0.23
-0.56
0.40
-0.22
505
0.0121
0.53
-0.23
-0.62
0.34
-0.21
510
0.0115
0.50
-0.22
-0.68
0.28
-0.19
515
0.0107
0.47
-0.20
-0.73
0.23
-0.17
520
0.0097
0.42
-0.18
-0.79
0.19
-0.15
525
0.0086
0.38
-0.17
-0.83
0.15
-0.13
530
0.0075
0.33
-0.15
-0.87
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.