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 — 350 — is the max pain price.
Open interest by strike · Fri, Dec 18
■ calls (up)■ puts (down)SNA 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 ≈ 19.5% · 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
0.99
-0.01
290
0.0011
0.05
-0.02
-0.03
0.97
-0.02
300
0.0020
0.08
-0.03
-0.05
0.95
-0.03
310
0.0035
0.13
-0.05
-0.07
0.91
-0.05
320
0.0057
0.21
-0.06
-0.12
0.85
-0.08
330
0.0086
0.31
-0.08
-0.18
0.75
-0.10
340
0.0119
0.42
-0.10
-0.27
0.62
-0.11
350
0.0145
0.51
-0.10
-0.40
0.47
-0.10
360
0.0154
0.53
-0.10
-0.55
0.33
-0.09
370
0.0141
0.48
-0.09
-0.69
0.20
-0.07
380
0.0110
0.38
-0.07
-0.82
0.12
-0.05
390
0.0076
0.27
-0.04
-0.90
0.06
-0.03
400
0.0048
0.17
-0.02
-0.95
0.03
-0.02
410
0.0028
0.11
-0.01
-0.98
0.02
-0.01
420
0.0016
0.06
—
-0.99
0.01
-0.01
430
0.0009
0.04
—
-0.99
Quoted contract greeks from the delayed feed (not modeled here); the highlighted row is nearest to spot. Showing 15 strikes around the money — all 29 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.