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 — 13.45 — is the max pain price.
Open interest by strike · Fri, Jan 15
■ calls (up)■ puts (down)PTIR open contracts per strike for Fri, Jan 15.
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, Jan 15
■ calls (up)■ puts (down)Today's traded contracts per strike (delayed).
Implied volatility by strike · Fri, Jan 15
— call IV— put IVATM ≈ 105.8% · Quoted strikes only; illiquid wings with junk fits are dropped, not smoothed.
Gamma exposure by strike · Fri, Jan 15
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, Jan 15
Call Δ
Call Θ
Strike
Γ
Vega
Put Θ
Put Δ
0.80
-0.02
16.45
0.0220
0.03
-0.02
-0.19
0.77
-0.02
17.45
0.0244
0.03
-0.02
-0.22
0.74
-0.02
18.45
0.0266
0.04
-0.02
-0.25
0.71
-0.02
19.45
0.0286
0.04
-0.02
-0.28
0.68
-0.03
20.45
0.0304
0.04
-0.03
-0.32
0.64
-0.03
21.45
0.0318
0.04
-0.03
-0.35
0.61
-0.03
22.45
0.0330
0.04
-0.03
-0.38
0.57
-0.03
23.45
0.0339
0.04
-0.03
-0.42
0.54
-0.03
24.45
0.0345
0.04
-0.03
-0.45
0.51
-0.03
25.45
0.0348
0.04
-0.03
-0.48
0.48
-0.03
26.45
0.0349
0.04
-0.03
-0.52
0.45
-0.03
27.45
0.0347
0.04
-0.03
-0.55
0.42
-0.03
28.45
0.0343
0.04
-0.03
-0.57
0.39
-0.03
29.45
0.0338
0.04
-0.03
-0.60
0.36
-0.03
30.45
0.0331
0.04
-0.03
-0.63
Quoted contract greeks from the delayed feed (not modeled here); the highlighted row is nearest to spot. Showing 15 strikes around the money — all 47 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.