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 — 410 — is the max pain price.
Open interest by strike · Fri, Dec 18
■ calls (up)■ puts (down)SNPS 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 ≈ 49.5% · 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
0.81
-0.23
410
0.0029
0.49
-0.24
-0.19
0.78
-0.25
420
0.0032
0.54
-0.27
-0.23
0.74
-0.28
430
0.0035
0.58
-0.29
-0.26
0.70
-0.29
440
0.0038
0.62
-0.30
-0.30
0.66
-0.31
450
0.0041
0.66
-0.32
-0.34
0.62
-0.32
460
0.0043
0.69
-0.33
-0.39
0.57
-0.33
470
0.0044
0.70
-0.34
-0.43
0.53
-0.33
480
0.0045
0.71
-0.34
-0.48
0.48
-0.33
490
0.0045
0.71
-0.34
-0.52
0.44
-0.33
500
0.0045
0.71
-0.33
-0.57
0.40
-0.32
510
0.0044
0.69
-0.33
-0.61
0.36
-0.31
520
0.0042
0.67
-0.32
-0.65
0.32
-0.30
530
0.0041
0.64
-0.30
-0.69
0.29
-0.28
540
0.0039
0.61
-0.28
-0.73
0.25
-0.27
550
0.0036
0.57
-0.27
-0.76
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.