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 — 410 — is the max pain price.
Open interest by strike · Fri, Dec 18
■ calls (up)■ puts (down)MSGS open contracts per strike for Fri, Dec 18.
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, Dec 18
■ calls (up)■ puts (down)Today's traded contracts per strike (delayed).
Implied volatility by strike · Fri, Dec 18
— call IV— put IVATM ≈ 28.2% · Quoted strikes only; illiquid wings with junk fits are dropped, not smoothed.
Gamma exposure by strike · Fri, Dec 18
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, Dec 18
Call Δ
Call Θ
Strike
Γ
Vega
Put Θ
Put Δ
0.94
-0.06
320
0.0023
0.19
-0.06
-0.06
0.91
-0.07
330
0.0031
0.24
-0.07
-0.09
0.88
-0.09
340
0.0041
0.31
-0.09
-0.12
0.83
-0.10
350
0.0052
0.38
-0.11
-0.17
0.78
-0.12
360
0.0065
0.46
-0.12
-0.23
0.70
-0.14
370
0.0077
0.53
-0.14
-0.30
0.62
-0.15
380
0.0086
0.58
-0.15
-0.38
0.53
-0.15
390
0.0092
0.60
-0.16
-0.47
0.44
-0.15
400
0.0092
0.60
-0.16
-0.57
0.35
-0.14
410
0.0087
0.57
-0.15
-0.66
0.28
-0.13
420
0.0078
0.51
-0.14
-0.74
0.21
-0.11
430
0.0068
0.45
-0.12
-0.81
0.16
-0.09
440
0.0056
0.37
-0.10
-0.87
0.12
-0.08
450
0.0045
0.31
-0.09
-0.92
0.07
-0.05
470
0.0028
0.20
-0.05
-0.98
Quoted contract greeks from the delayed feed (not modeled here); the highlighted row is nearest to spot. Showing 15 strikes around the money — all 18 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.