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 — 18 — is the max pain price.
Open interest by strike · Fri, Dec 18
■ calls (up)■ puts (down)SOFI open contracts per strike for Fri, Dec 18.
Open-interest change · 2026-10-23 → 2026-10-26
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. Biggest moves: 12 +9K · 25 +2K · 26 −1K · 29 −619
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 ≈ 45.8% · 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
—
9
0.0058
0.00
-0.00
-0.01
0.98
-0.00
10
0.0105
0.00
-0.00
-0.02
0.97
-0.00
11
0.0185
0.01
-0.00
-0.03
0.94
-0.00
12
0.0314
0.01
-0.00
-0.06
0.90
-0.01
13
0.0510
0.01
-0.01
-0.10
0.84
-0.01
14
0.0782
0.01
-0.01
-0.16
0.74
-0.01
15
0.1096
0.02
-0.01
-0.26
0.62
-0.01
16
0.1356
0.02
-0.01
-0.39
0.48
-0.01
17
0.1444
0.03
-0.01
-0.53
0.35
-0.01
18
0.1331
0.02
-0.01
-0.67
0.24
-0.01
19
0.1104
0.02
-0.01
-0.77
0.17
-0.01
20
0.0861
0.02
-0.01
-0.85
0.12
-0.01
21
0.0655
0.01
-0.01
-0.90
0.09
-0.01
22
0.0496
0.01
-0.01
-0.94
0.06
-0.00
23
0.0378
0.01
-0.00
-0.97
Quoted contract greeks from the delayed feed (not modeled here); the highlighted row is nearest to spot. Showing 15 strikes around the money — all 37 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.