Event risk before this expiration: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 — 450 — is the max pain price.
Open interest by strike · Fri, Jan 15
■ calls (up)■ puts (down)MSFT open contracts per strike for Fri, Jan 15.
Open-interest change · 2026-10-28 → 2026-10-29
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. Biggest moves: 500 −1K · 530 +1K · 590 −907 · 400 +473
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 ≈ 25.8% · 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
0.75
-0.11
495
0.0048
0.78
-0.13
-0.25
0.73
-0.12
500
0.0051
0.82
-0.14
-0.28
0.70
-0.13
505
0.0053
0.85
-0.14
-0.31
0.67
-0.13
510
0.0056
0.89
-0.15
-0.33
0.64
-0.14
515
0.0058
0.91
-0.15
-0.36
0.61
-0.14
520
0.0060
0.94
-0.15
-0.40
0.58
-0.15
525
0.0061
0.95
-0.16
-0.43
0.55
-0.15
530
0.0062
0.97
-0.16
-0.46
0.52
-0.15
535
0.0063
0.97
-0.16
-0.49
0.49
-0.15
540
0.0063
0.98
-0.16
-0.52
0.46
-0.15
545
0.0063
0.97
-0.15
-0.56
0.43
-0.15
550
0.0063
0.96
-0.15
-0.59
0.37
-0.14
560
0.0061
0.93
-0.14
-0.65
0.31
-0.14
570
0.0057
0.87
-0.13
-0.71
0.29
-0.13
575
0.0055
0.84
-0.12
-0.74
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.