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 — 10 — is the max pain price.
Open interest by strike · Fri, Jan 19
■ calls (up)■ puts (down)PTIR open contracts per strike for Fri, Jan 19.
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 19
■ calls (up)■ puts (down)Today's traded contracts per strike (delayed).
Implied volatility by strike · Fri, Jan 19
— call IV— put IVATM ≈ 104.9% · Quoted strikes only; illiquid wings with junk fits are dropped, not smoothed.
Gamma exposure by strike · Fri, Jan 19
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 19
Call Δ
Call Θ
Strike
Γ
Vega
Put Θ
Put Δ
0.82
-0.00
16
0.0068
0.08
-0.00
-0.14
0.81
-0.00
17
0.0069
0.08
-0.01
-0.15
0.80
-0.00
18
0.0071
0.08
-0.01
-0.16
0.79
-0.00
19
0.0073
0.08
-0.01
-0.17
0.78
-0.01
20
0.0074
0.09
-0.01
-0.18
0.77
-0.01
21
0.0075
0.09
-0.01
-0.19
0.77
-0.01
22
0.0077
0.09
-0.01
-0.20
0.76
-0.01
23
0.0078
0.09
-0.01
-0.20
0.75
-0.01
24
0.0079
0.10
-0.01
-0.21
0.74
-0.01
25
0.0080
0.10
-0.01
-0.22
0.74
-0.01
26
0.0081
0.10
-0.01
-0.23
0.73
-0.01
27
0.0082
0.10
-0.01
-0.23
0.71
-0.01
30
0.0084
0.10
-0.01
-0.25
0.69
-0.01
35
0.0087
0.11
-0.01
-0.29
Quoted contract greeks from the delayed feed (not modeled here); the highlighted row is nearest to spot. Showing 14 strikes around the money — all 24 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.