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 — 400 — is the max pain price.
Open interest by strike · Fri, Dec 17
■ calls (up)■ puts (down)MSI open contracts per strike for Fri, Dec 17.
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 17
■ calls (up)■ puts (down)Today's traded contracts per strike (delayed).
Implied volatility by strike · Fri, Dec 17
— call IV— put IVATM ≈ 28.4% · Quoted strikes only; illiquid wings with junk fits are dropped, not smoothed.
Gamma exposure by strike · Fri, Dec 17
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 17
Call Δ
Call Θ
Strike
Γ
Vega
Put Θ
Put Δ
0.89
-0.02
370
0.0013
1.03
-0.04
-0.13
0.87
-0.02
380
0.0014
1.15
-0.04
-0.14
0.83
-0.03
400
0.0016
1.33
-0.05
-0.18
0.81
-0.04
410
0.0018
1.42
-0.05
-0.20
0.79
-0.04
420
0.0019
1.48
-0.05
-0.22
0.75
-0.05
440
0.0021
1.66
-0.06
-0.27
0.65
-0.06
480
0.0025
1.93
-0.07
-0.38
0.63
-0.06
490
0.0026
1.97
-0.07
-0.41
0.60
-0.06
500
0.0027
2.01
-0.07
-0.43
0.57
-0.06
510
0.0027
2.03
-0.07
-0.46
0.52
-0.06
530
0.0028
2.06
-0.07
-0.53
0.50
-0.06
540
0.0028
2.06
-0.07
-0.56
0.45
-0.06
560
0.0028
2.04
-0.07
-0.62
0.40
-0.06
580
0.0027
2.00
-0.07
-0.68
0.38
-0.06
590
0.0027
1.96
-0.07
-0.71
Quoted contract greeks from the delayed feed (not modeled here); the highlighted row is nearest to spot. Showing 15 strikes around the money — all 22 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.