Event risk before this expiration:FOMC decision Wed, Sep 16 · Jobs report Fri, Oct 2 — 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 — 430 — is the max pain price.
Open interest by strike · Fri, Oct 2
■ calls (up)■ puts (down)SPGI open contracts per strike for Fri, Oct 2.
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, Oct 2
■ calls (up)■ puts (down)Today's traded contracts per strike (delayed).
Implied volatility by strike · Fri, Oct 2
— call IV— put IVATM ≈ 26.3% · Quoted strikes only; illiquid wings with junk fits are dropped, not smoothed.
Gamma exposure by strike · Fri, Oct 2
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, Oct 2
Call Δ
Call Θ
Strike
Γ
Vega
Put Θ
Put Δ
0.88
-0.15
375
0.0060
0.20
-0.16
-0.12
0.85
-0.17
380
0.0072
0.23
-0.17
-0.15
0.82
-0.19
385
0.0085
0.26
-0.19
-0.18
0.78
-0.21
390
0.0100
0.29
-0.21
-0.22
0.73
-0.23
395
0.0115
0.33
-0.23
-0.27
0.67
-0.24
400
0.0130
0.36
-0.24
-0.33
0.60
-0.25
405
0.0142
0.38
-0.25
-0.40
0.53
-0.25
410
0.0149
0.39
-0.26
-0.47
0.46
-0.25
415
0.0150
0.39
-0.25
-0.55
0.38
-0.24
420
0.0144
0.38
-0.24
-0.62
0.32
-0.23
425
0.0134
0.35
-0.23
-0.69
0.26
-0.21
430
0.0120
0.32
-0.21
-0.74
0.21
-0.19
435
0.0105
0.29
-0.19
-0.79
0.17
-0.17
440
0.0090
0.25
-0.17
-0.83
0.14
-0.15
445
0.0076
0.22
-0.15
-0.87
Quoted contract greeks from the delayed feed (not modeled here); the highlighted row is nearest to spot. Showing 15 strikes around the money — all 39 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.