Event risk before this expiration:CPI release Wed, Oct 14 · 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 — 40 — is the max pain price.
Open interest by strike · Fri, Dec 18
■ calls (up)■ puts (down)SMCI 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 ≈ 74.3% · 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
0.79
-0.03
33
0.0218
0.05
-0.03
-0.21
0.77
-0.03
34
0.0235
0.05
-0.03
-0.23
0.74
-0.03
35
0.0250
0.06
-0.03
-0.26
0.71
-0.03
36
0.0264
0.06
-0.03
-0.29
0.68
-0.03
37
0.0276
0.06
-0.03
-0.32
0.65
-0.04
38
0.0287
0.06
-0.04
-0.35
0.62
-0.04
39
0.0295
0.07
-0.04
-0.38
0.59
-0.04
40
0.0301
0.07
-0.04
-0.41
0.56
-0.04
41
0.0305
0.07
-0.04
-0.45
0.53
-0.04
42
0.0307
0.07
-0.04
-0.47
0.50
-0.04
43
0.0307
0.07
-0.04
-0.51
0.47
-0.04
44
0.0306
0.07
-0.04
-0.53
0.45
-0.04
45
0.0303
0.07
-0.04
-0.56
0.42
-0.04
46
0.0299
0.07
-0.04
-0.59
0.39
-0.04
47
0.0293
0.07
-0.04
-0.61
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.