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 — 105 — is the max pain price.
Open interest by strike · Fri, Dec 18
■ calls (up)■ puts (down)PTF 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 ≈ 56.8% · 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
0.72
-0.08
95
0.0128
0.14
-0.08
-0.28
0.70
-0.08
96
0.0132
0.14
-0.08
-0.30
0.66
-0.08
99
0.0144
0.15
-0.08
-0.34
0.65
-0.08
100
0.0148
0.15
-0.08
-0.35
0.61
-0.08
102
0.0155
0.16
-0.08
-0.39
0.58
-0.08
104
0.0162
0.16
-0.09
-0.42
0.57
-0.08
105
0.0165
0.16
-0.08
-0.44
0.55
-0.08
106
0.0167
0.16
-0.08
-0.45
0.53
-0.08
107
0.0170
0.17
-0.08
-0.47
0.52
-0.08
108
0.0172
0.17
-0.08
-0.49
0.50
-0.08
109
0.0174
0.17
-0.08
-0.51
0.48
-0.08
110
0.0175
0.17
-0.08
-0.52
0.46
-0.08
111
0.0176
0.16
-0.08
-0.54
0.44
-0.08
112
0.0176
0.16
-0.08
-0.56
0.43
-0.08
113
0.0177
0.16
-0.08
-0.58
Quoted contract greeks from the delayed feed (not modeled here); the highlighted row is nearest to spot. Showing 15 strikes around the money — all 45 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.