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 — 140 — is the max pain price.
Open interest by strike · Fri, Dec 18
■ calls (up)■ puts (down)PLTR open contracts per strike for Fri, Dec 18.
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. Biggest moves: 175 −24K · 220 +367 · 180 +203 · 240 +201
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 ≈ 56.6% · 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
0.84
-0.10
165
0.0054
0.19
-0.11
-0.16
0.80
-0.11
170
0.0061
0.21
-0.12
-0.20
0.77
-0.13
175
0.0068
0.23
-0.13
-0.23
0.73
-0.14
180
0.0075
0.25
-0.14
-0.27
0.69
-0.14
185
0.0081
0.27
-0.15
-0.32
0.64
-0.15
190
0.0086
0.28
-0.15
-0.36
0.60
-0.16
195
0.0089
0.29
-0.16
-0.40
0.55
-0.16
200
0.0092
0.30
-0.16
-0.45
0.46
-0.16
210
0.0094
0.30
-0.16
-0.54
0.37
-0.15
220
0.0090
0.29
-0.15
-0.63
0.30
-0.14
230
0.0082
0.26
-0.14
-0.71
0.23
-0.12
240
0.0072
0.23
-0.12
-0.78
0.17
-0.10
250
0.0062
0.20
-0.10
-0.84
0.13
-0.08
260
0.0051
0.16
-0.08
-0.88
0.10
-0.07
270
0.0041
0.13
-0.07
-0.92
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.