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 — 55 — is the max pain price.
Open interest by strike · Fri, Jan 15
■ calls (up)■ puts (down)SLV 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 ≈ 33.3% · 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
0.94
-0.00
40
0.0121
0.03
-0.01
-0.06
0.91
-0.01
42
0.0169
0.04
-0.01
-0.09
0.84
-0.01
45
0.0266
0.06
-0.01
-0.15
0.83
-0.01
45.5
0.0284
0.06
-0.01
-0.17
0.81
-0.01
46
0.0303
0.07
-0.01
-0.19
0.78
-0.01
47
0.0339
0.07
-0.01
-0.22
0.66
-0.02
50
0.0430
0.09
-0.02
-0.34
0.54
-0.02
52.5
0.0465
0.10
-0.02
-0.46
0.52
-0.02
53
0.0466
0.10
-0.02
-0.49
0.43
-0.02
55
0.0455
0.10
-0.02
-0.58
0.39
-0.02
56
0.0441
0.10
-0.02
-0.62
0.35
-0.02
57
0.0423
0.09
-0.02
-0.66
0.34
-0.02
57.5
0.0413
0.09
-0.02
-0.68
0.32
-0.02
58
0.0402
0.09
-0.02
-0.70
0.28
-0.02
59
0.0379
0.09
-0.02
-0.73
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 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.