Event risk before this expiration: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 — 700 — is the max pain price.
Open interest by strike · Fri, Jan 15
■ calls (up)■ puts (down)QQQ open contracts per strike for Fri, Jan 15.
Open-interest change · 2026-10-28 → 2026-10-29
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; 4 strikes were in only one day’s snapshot (each keeps its largest strikes) and are left out. Biggest moves: 735 +1K · 1085 +1K · 710 −851 · 750 −744
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 ≈ 22.1% · 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
0.72
-0.15
670
0.0041
1.10
-0.17
-0.28
0.70
-0.16
675
0.0043
1.14
-0.17
-0.30
0.68
-0.16
680
0.0045
1.17
-0.18
-0.33
0.66
-0.16
685
0.0047
1.20
-0.18
-0.35
0.64
-0.17
690
0.0049
1.23
-0.18
-0.37
0.61
-0.17
695
0.0051
1.25
-0.18
-0.40
0.59
-0.17
700
0.0053
1.27
-0.18
-0.42
0.56
-0.17
705
0.0054
1.29
-0.18
-0.45
0.53
-0.17
710
0.0056
1.30
-0.18
-0.48
0.50
-0.17
715
0.0057
1.30
-0.17
-0.51
0.47
-0.17
720
0.0058
1.30
-0.17
-0.54
0.45
-0.16
725
0.0058
1.29
-0.17
-0.57
0.42
-0.16
730
0.0058
1.27
-0.16
-0.60
0.39
-0.15
735
0.0058
1.25
-0.16
-0.64
0.36
-0.15
740
0.0057
1.22
-0.15
-0.67
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.