Event risk before this expiration:FOMC decision Wed, Oct 28 — 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 — 144 — is the max pain price.
Open interest by strike · Fri, Oct 30
■ calls (up)■ puts (down)MSTR open contracts per strike for Fri, Oct 30.
Open-interest change · 2026-10-23 → 2026-10-26
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; 10 strikes were in only one day’s snapshot (each keeps its largest strikes) and are left out. Biggest moves: 152.5 +32K · 160 +28K · 90 +27K · 162.5 +21K
Volume by strike · Fri, Oct 30
■ calls (up)■ puts (down)Today's traded contracts per strike (delayed).
Implied volatility by strike · Fri, Oct 30
— call IV— put IVATM ≈ 96.7% · Quoted strikes only; illiquid wings with junk fits are dropped, not smoothed.
Gamma exposure by strike · Fri, Oct 30
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 30
Call Δ
Call Θ
Strike
Γ
Vega
Put Θ
Put Δ
0.74
-0.68
133
0.0253
0.04
-0.68
-0.26
0.71
-0.72
134
0.0266
0.04
-0.72
-0.29
0.68
-0.76
135
0.0277
0.05
-0.76
-0.32
0.65
-0.79
136
0.0287
0.05
-0.79
-0.35
0.62
-0.81
137
0.0296
0.05
-0.81
-0.38
0.59
-0.83
138
0.0303
0.05
-0.84
-0.41
0.56
-0.85
139
0.0308
0.05
-0.85
-0.44
0.53
-0.85
140
0.0311
0.05
-0.86
-0.47
0.50
-0.86
141
0.0312
0.05
-0.86
-0.50
0.47
-0.85
142
0.0311
0.05
-0.86
-0.53
0.44
-0.84
143
0.0309
0.05
-0.85
-0.56
0.41
-0.83
144
0.0304
0.05
-0.83
-0.59
0.38
-0.81
145
0.0298
0.05
-0.81
-0.62
0.35
-0.78
146
0.0291
0.05
-0.78
-0.65
0.32
-0.75
147
0.0282
0.05
-0.75
-0.68
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.