Event risk before this expiration:FOMC decision Wed, Sep 16 · Jobs report Fri, Oct 2 · CPI release Wed, Oct 14 · 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 — 120 — is the max pain price.
Open interest by strike · Fri, Dec 18
■ calls (up)■ puts (down)NRG 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 ≈ 48.7% · 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
0.93
-0.02
80
0.0045
0.08
-0.02
-0.07
0.90
-0.03
85
0.0060
0.11
-0.03
-0.11
0.86
-0.04
90
0.0077
0.14
-0.04
-0.15
0.81
-0.04
95
0.0094
0.16
-0.04
-0.20
0.75
-0.05
100
0.0110
0.19
-0.05
-0.26
0.69
-0.05
105
0.0123
0.21
-0.05
-0.32
0.62
-0.06
110
0.0132
0.23
-0.06
-0.39
0.55
-0.06
115
0.0138
0.23
-0.06
-0.46
0.49
-0.06
120
0.0139
0.23
-0.06
-0.53
0.42
-0.06
125
0.0136
0.23
-0.06
-0.59
0.36
-0.06
130
0.0130
0.22
-0.06
-0.65
0.31
-0.05
135
0.0122
0.21
-0.05
-0.71
0.27
-0.05
140
0.0112
0.19
-0.05
-0.76
0.22
-0.04
145
0.0102
0.18
-0.05
-0.80
0.19
-0.04
150
0.0092
0.16
-0.04
-0.84
Quoted contract greeks from the delayed feed (not modeled here); the highlighted row is nearest to spot. Showing 15 strikes around the money — all 41 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.